MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNNY DIAM LLC |
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Registered Office : |
Al Maryam
Building, Suite 303, Plot No. 567, 113-174 Al Daghaya Street, Deira, PO Box 65192, 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 : |
16.07.2006 |
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Com. Reg. No.: |
997401, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Traders of Jewellery, Diamonds and Gold. |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SUNNY DIAM LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th July 2006
Commercial Registration Number : 997401, Dubai
Trade Licence Number : 583756
Chamber Membership Number : 223582
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Traders of jewellery, diamonds and gold.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SUNNY DIAM LLC
ADDRESS
Registered & Physical Address
Building : Al Maryam Building, Suite 303,
Plot No. 567
Street : 113-174 Al Daghaya Street
Area : Deira
PO Box : 65192
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2261126
Facsimile : (971-4) 2261128
Mobile : (971-50) 2942056
Email : canadiandubai@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Viral Shah Indian Managing Director
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Said Khalf Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
July 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 997401, Dubai
Trade Licence No. : 583756
(Expires 15/07/2008)
Chamber Member No. : 223582
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Said Khalf 51%
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Viral Shah 49%
OPERATIONS
Activities: Engaged as traders of jewellery, diamonds
and gold.
Import
Countries: Europe and the
Far East.
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 31/12/07:
Total Sales UAE
Dh 7,800,000
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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Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Sunny Diam LLC is a relatively new business with operations commencing in July 2006. It is engaged as traders of jewellery, diamonds and gold.
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 company is considered to be a fair trade risk.
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%)