MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
AL KHAYAL ALDHAHABI JEWELLERY LLC |
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Registered Office : |
Gold Souq
Building, M1, Suite 694, Al Khor Street, Al Ras, Deira, PO Box 51377, Dubai |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
15.01.1983 |
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Com. Reg. No.: |
57537, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Jewellery, Precious Stones and
Watches |
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 : AL KHAYAL ALDHAHABI JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 15th January 1983
Commercial Registration Number : 57537,
Trade Licence Number : 203808
Chamber Membership Number : 10022
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Activities : Wholesale and retail of jewellery, precious stones and watches
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
AL KHAYAL ALDHAHABI
JEWELLERY LLC
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Ras, Deira
PO Box : 51377
Town :
Country :
Telephone : (971-4) 2261526
Facsimile : (971-4) 2255685
Email : mick700@emirates.net.ae
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
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Rajesh
Manekchand Kothari Indian Managing Director
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Yousuf
Karam Ali Mohamed Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 15th
January 1983
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57537,
Trade Licence No. : 203808
(Expires 07/01/2009)
Chamber Member No. : 10022
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Yousuf
Karam Ali Mohamed 51%
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Rajesh
Manekchand Kothari 49%
AFFILIATED COMPANIES
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Yusuf
Karam Trading Est
Al Ras
PO Box: 51377
Tel: (971-4) 2263384
Fax: (971-4) 2255685
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery, precious stones and watches.
Import
Countries: Europe and the
Subject has a
workforce of 8 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/07:
Total Revenue UAE Dh
10,300,000
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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Bank of
Tel: (971-4) 5531955
Fax:
(971-4) 5536962
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1983, subject is owned and managed by Mr Rajesh Manekchand Kothari, an Indian national
who operates in
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner.
Local sources were
unable to make direct contact with the subject as the telephone number is
incorrect. Should your client have the correct contact details for the subject
we will of course resume the investigation.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)