MIRA INFORM REPORT

 

 

Report Date :

27.10.2008

 

IDENTIFICATION DETAILS

 

Name :

ROSY BLUE DMCC

 

 

Registered Office :

Unit 23, Business Avenue, Plot 287/128, PO Box 98173, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

28.02. 2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Traders of Diamonds, Polished Diamonds and Jewellery.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : ROSY BLUE DMCC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 26th February 2006

Trade Licence Number                            : 30426

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 5

Activities                                               : Traders of diamonds, polished diamonds and jewellery.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

           

 

COMPANY NAME

 

ROSY BLUE DMCC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Unit 23, Business Avenue, Plot 287/128

PO Box             : 98173

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2995914 / 2998001 / 2045990

Facsimile          : (971-4) 2995916

Email                : manoj.shah@rosyblue.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

 

·       Harshad Mehta                                                                                 Managing Director

 

·       Monoj Shah                                                                                      General Manager

 

·       Pearl Chandrawnsa                                                                           Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th February 2006

 

Legal Form                  : Limited Liability Company

 

Trade Licence No.       : 30426 (Expires 25/02/2009)

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)

 

·       Harshad Mehta

 

AFFILIATED COMPANIES

 

·       Rosy Blue FZE

Al Twar Road

PO Box : 54303

     Dubai

     Tel : (971-4) 2995914

     Fax : (971-4) 2995916

 

·       Rosy Blue Trading LLC

     Gold Centre Building, Zone IV, Suite 134

     Al Khor Street

     Al Ras

     PO Box 54303

     Dubai

     Tel: (971-4) 2252221

     Fax: (971-4) 2269442

 

 

OPERATIONS

 

Activities: Traders of diamonds, polished diamonds and jewellery.

 

Import Countries: India, South Africa and Switzerland.

 

Subject has a workforce of 5 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

 

Rosy Blue DMCC is a relatively new business with operations commencing in February 2006. It is engaged as traders of diamonds, polished diamonds and jewellery.

 

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 business is considered to be a fair trade risk.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.77

UK Pound

1

Rs.79.78

Euro

1

Rs.63.36

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions