MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KIRAN JEWELS LLC |
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Registered Office : |
Al Daghaya
Building, 2nd Floor, Suite No. 203 & 210, Daghaya, Deira, PO
Box 49946, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.04.2007 |
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Com. Reg. No.: |
108885, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Jewellery and Loose Diamonds |
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 : KIRAN JEWELS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th April 2007
Commercial Registration Number : 108885, Dubai
Trade Licence Number : 594407
Chamber Membership Number : 118307
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of jewellery and loose diamonds
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Parbash Matu, Accounts Manager
COMPANY NAME
KIRAN JEWELS LLC
ADDRESS
Registered & Physical Address
Building : Al Daghaya Building, 2nd
Floor, Suite No. 203 & 210
Area : Daghaya, Deira
PO Box : 49946
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2352982
Facsimile : (971-4) 2352983
Mobile : (971-50) 9118093
Email : klavri@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
·
Dinesh
Sakariya Indian Managing Director
·
Khalid Ahmed
Moosa Emirati Director
·
Kirti
Kumar Lavri - Commercial
Manager
·
Parbash
Matu - Accounts
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
April 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 108885, Dubai
Trade Licence No. : 594407
(Expires 23/04/2009)
Chamber Member No. : 118307
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Khalid Ahmed
Moosa 51%
·
Dinesh
Sakariya 49%
OPERATIONS
Activities: Engaged in the import and distribution of
jewellery and loose diamonds.
Import
Countries: Europe and the
Far East
Subject has a workforce
of 5 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result full financial information is not currently
available. However, Parbash Matu confirmed sales as
being UAE Dh 12,000,000 so far.
BANKERS
·
Emirates Bank
International Ltd
Baniyas Road
PO Box 2923
Deira
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken
in Dubai did not reveal any sign of payment defaults or delays during initial
trading stages, and subject is believed to meet its payment obligations in a
timely manner, nevertheless, and in view of the company’s infancy and the lack
of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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%)