MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
STUTI DIAMONDS & JEWELLERY LLC |
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Registered Office : |
Royal Diamond Building, Suite No. 302, Deira, PO Box 518, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
15.01.2007 |
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Com. Reg. No.: |
1004096, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Retailer of Watches and Spare Parts, Jewellery Items,
Crystal Ware, Pearls and Precious
Stones |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : STUTI DIAMONDS & JEWELLERY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 15th January 2007
Commercial Registration Number : 1004096, Dubai
Trade Licence Number : 590244
Chamber Membership Number : 114555
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Retail of watches and spare parts, jewellery items, crystal ware, pearls and precious stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
STUTI DIAMONDS & JEWELLERY LLC
ADDRESS
Registered & Physical Address
Building : Royal
Diamond Building, Suite No. 302
Area : Deira
PO Box : 518
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2266810
Facsimile : (971-4)
2266820
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Dhakan Kaijur
Mahendra Kumar Indian Managing Director
· Salem Obaid Hashim
Obaid Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 15th
January 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1004096, Dubai
Trade Licence No. : 590244
Chamber Member No. : 114555
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Salem Obaid Hashim
Obaid 51%
· Dhakan Kaijur
Mahendra Kumar 49%
OPERATIONS
Activities: Engaged in the retail of watches and spare parts, jewellery items,
crystal ware, pearls and precious stones.
Import Countries: France, United Kingdom, and Japan.
Subject has a workforce of 6 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131
/ 2221134
Fax : (971-4)
2233784
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Stuti Diamonds & Jewellery LLC is a newly established business with
operations commencing in January 2007. It is engaged in the retail of watches
and spare parts, jewellery items, crystal ware, pearls and precious stones.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding the
manner in which payments are fulfilled. As such the business is considered to
be a fair trade risk, however a measure of caution would be prudent given the
lack of financial and payment due to the short operating history.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)