MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
S VINODKUMAR DMCC |
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Registered Office : |
Mohamed Ibrahim
Obaidullah Building, 1st Floor, Plot No. 113-226, Office No. 109, Al
Shakal Gold Souq, Deira, PO Box
181328, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
20.06. 2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of Jewellery, Gold and Precious
Stones |
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 : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
Company Name : S VINODKUMAR DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 20th June 2005
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and distribution of jewellery, gold and precious stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ankur Wakaria, Commercial Manager
COMPANY NAME
S VINODKUMAR DMCC
ADDRESS
Registered & Physical Address
Building : Mohamed Ibrahim Obaidullah
Building, 1st Floor, Plot No. 113-226, Office No. 109
Area : Al Shakal Gold Souq, Deira
PO Box : 181328
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2354566 / 2354424
Facsimile : (971-4) 2269417
Email : svdmcc@svinodkumar.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 Position
·
Jayesh Desai Managing
Director
·
Vinod Shah Director
·
Viral Shah Sales
Manager
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Ankur
Wakaria Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject was
registered on 20th June 2005 and began commercial activities in
February 2006
Legal Form :
Limited Liability Company
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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S Vinodkumar
Pvt Ltd 100%
Mumbai
India
Tel : (91-22) 3673724
Fax : (91-22) 3673680
OPERATIONS
Activities: Engaged in the import and distribution of
jewellery, gold and precious stones.
Import
Countries: Europe and India
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Companies registered
in Dubai, United Arab Emirates are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
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
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)