MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROHIT DIAMOND & JEWELLERY LLC |
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Registered Office : |
Gold Land Building, Ground Floor, Suite P2, Al Khor Street, Gold Souq,
Al Ras, Deira, PO Box 29081, 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 : |
28.05.2001 |
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Com. Reg. No.: |
56718, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Wholesale and
Retail of Jewellery, Precious Stones and Watches. |
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 : ROHIT DIAMOND &
JEWELLERY LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 28th
May 2001
Commercial
Registration Number : 56718,
Dubai
Trade Licence Number : 526646
Chamber Membership
Number : 64197
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 5
Activities :
Wholesale and retail of jewellery, precious stones and watches.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ROHIT DIAMOND & JEWELLERY LLC
ADDRESS
Registered & Physical Address
Building : Gold Land
Building, Ground Floor, Suite P2
Street : Al Khor
Street
Area : Gold Souq,
Al Ras, Deira
PO Box : 29081
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2268531
Facsimile : (971-4)
2268532
Email : rohitdim@emirates.net.ae
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
· Savalia Rohitkumar
Jayantilal Indian Managing
Director
· Mohamed Rashid
Mohamed Alabdouli Emirati Director
· Daune
Lobo - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 28th
May 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 56718, Dubai
Trade Licence No. : 526646 (Expires 26/05/2008)
Chamber Member No. : 64197
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Rashid
Mohamed Alabdouli 51%
· Savalia Rohitkumar
Jayantilal 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery, precious stones and
watches.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 5 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 8,000,000 UAE Dh
10,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel: (971-4)
2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2001, subject is owned and managed by Mr Savalia
Rohitkumar Jayantilal, an Indian national who operates in Dubai under the local
sponsorship of Mr Mohamed Rashid Mohamed Alabdouli.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
The financial data in this report has been confirmed by subject’s Finance
Manager, Mr Daune Lobo.
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%)