MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIRAV DIAM LLC |
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Registered Office : |
Al Maryam Building, 3rd Floor, Suite 301, Gold Souq, Al
Dhagaya, Deira, PO Box 27628, 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 : |
06.12.2006 |
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Com. Reg. No.: |
1002598, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Import, Wholesale
and Retail of Jewellery, Precious Stones, Watches and Gift Items. |
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 : NIRAV DIAM LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 6th
December 2006
Commercial
Registration Number : 1002598,
Dubai
Trade Licence Number : 588866
Chamber Membership
Number : 113408
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 4
Activities :
Import, wholesale and retail of jewellery, precious stones, watches and gift
items.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
NIRAV DIAM LLC
ADDRESS
Registered & Physical Address
Building : Al Maryam
Building, 3rd Floor, Suite 301
Area : Gold Souq,
Al Dhagaya, Deira
PO Box : 27628
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2265494 / 2951615
Facsimile : (971-4)
2951615
Mobile : (971-50) 7076541
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
· Niraf Rajesh Shah Indian Managing Director
· Hamdan Saeed
Khalifa Mohamed Alfeqaei Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 6th
December 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1002598, Dubai
Trade Licence No. : 588866 (Expires 05/12/2008)
Chamber Member No. : 113408
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Hamdan Saeed
Khalifa Mohamed Alfeqaei 51%
· Niraf Rajesh Shah 49%
OPERATIONS
Activities: Engaged in the import, wholesale and retail of jewellery, precious
stones, watches and gift items.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Sales UAE
Dh 6,000,000
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)
3160316
Fax : (971-4)
2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Nirav Diam LLC is a relatively new business
with operations commencing in December 2006. It is engaged in the import,
wholesale and retail of jewellery, precious stones, watches and gift items.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)