MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHOKSEY DIAMONDS LLC |
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Registered Office : |
Saeed Khalifa Al Matrooshi Building, Sikkat Al Khail Street, Gold
Souk, Al Ras, Deira, PO Box 65129,
Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
05.07.2000 |
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Com. Reg. No.: |
54869, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Gold and Silver Smiths as well as the Retail of Jewellery Items, Pearls and Precious Stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CHOKSEY DIAMONDS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 5th July 2000
Commercial Registration Number : 54869, Dubai
Trade Licence Number : 519642
Chamber Membership Number : 59367
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Gold and silver smiths as well as the retail of jewellery items, pearls and
precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
CHOKSEY DIAMONDS LLC
ADDRESS
Registered & Physical Address
Building : Saeed
Khalifa Al Matrooshi Building
Street : Sikkat Al
Khail Street
Area : Gold Souk,
Al Ras, Deira
PO Box : 65129
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2295943
Facsimile : (971-4)
2259993
Mobile : (971-50)
Email : gchoksey@gmail.com
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
· Gautam
Brijratnalal Choksey Indian Managing Director
· Mrs
Najla Mohamed Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 5th
July 2000
History : Subject was
originally established in July 2000 between Mr Gautam Brijratnalal Choksey and
his local sponsor, Mr Abdul Rahman Mohamed Abdul Rahman Al Rum.
However in July 2006, Mr Abdul Rahman Mohamed Abdul Rahman Al Rum
withdrew from the business selling his shares to Mrs
Najla Mohamed.
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 54869, Dubai
Trade Licence No. : 519642 (Expires 04/07/2008)
Chamber Member No. : 59367
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mrs
Najla Mohamed 51%
· Gautam
Brijratnalal Choksey 49%
AFFILIATED COMPANIES
· Mine Jewellery
Gold & Diamond
Park, Building No. 4, Showroom No. 42
Sheikh Zayed Road
PO Box 65129
Dubai
Tel: (971-50)
5533156
Email: info@minejewel.info
· Diamond Village
LLC
PO Box 1458
Dubai
OPERATIONS
Activities: Engaged as gold and silver smiths as well as the retail of jewellery
items, pearls and precious stones.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 7 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 12,000,000 UAE Dh
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4)
5531955
Fax : (971-4) 5536962
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2000, subject is owned and managed by Mr Gautam
Brijratnalal Choksey, an Indian national who operates in Dubai under the local
sponsorship of Mr Abdul Rahman Mohamed Abdul Rahman Al Rum.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
The financial information contained in this report has been confirmed by
Mr Gautam Brijratnalal Choksey.
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%)