MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIDHANSHU DIAMONDS FZC |
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Registered Office : |
Saif Zone, Block NE4, Suite No. 27, PO Box 8064, Sharjah |
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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 : |
13.01.1999 |
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Legal Form : |
Free Zone Company
- FZCO |
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Line of Business : |
Import and
Distribution of Precious and Semi-Precious Stones and Studded Jewellery |
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 : SIDHANSHU DIAMONDS FZC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Start Date :
13th January 1999
Registration Date : 1st
January 2006
Trade Licence Number : 0494, Saif Zone
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 3
Activities :
Import and distribution of precious and semi-precious stones and studded
jewellery
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
SIDHANSHU DIAMONDS FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone,
Block NE4, Suite No. 27
PO Box : 8064
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5571106
Facsimile : (971-6)
5571106
Mobile : (971-50)
4827305
Premises
Subject operates from a small suite of offices that are rented and
located in the Saif Zone of Sharjah.
KEY PRINCIPALS
Name Position
· Delip
Mehta Managing
Director
· Ansul
Delip Mehta Director
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 13th January 1999, however it was registered
on
1st
January 2006
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 0494, Saif Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Delip
Mehta
· Ansul
Delip Mehta
OPERATIONS
Activities: Engaged in the import and distribution of precious and semi-precious
stones and studded jewellery.
Import Countries: Europe and the Far East
Subject has a workforce of 3 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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National Bank of Sharjah
Al Boorj Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 5547747
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
Please note that the correct registered name of the subject is
“Sidhanshu Diamonds FZC”
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%)