MIRA INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZAVERI DIAMONDS LLC |
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Registered Office : |
Fatima Bint Mohamed Yousuf Building, Deira, PO Box 50515, 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 : |
03.01.1999 |
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Com. Reg. No.: |
52213, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Import and Distribution
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 : ZAVERI DIAMONDS LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 3rd
January 1999
Commercial
Registration Number : 52213,
Dubai
Trade Licence Number : 509471
Chamber Membership
Number : 43232
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
4
Activities :
Import and distribution of jewellery, precious stones and watches
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ZAVERI DIAMONDS LLC
ADDRESS
Registered &
Physical Address
Building : Fatima Bint
Mohamed Yousuf Building
Area : Deira
PO Box : 50515
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2223329
/ 2955789
Facsimile : (971-4)
2224110
Email : zavdia@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Natwar
Tribhovandas Zaveri Indian Managing Director
· Jayatri Vindu
Kumar Nanjia Zaveri Indian Director
· Indrajit Zaveri Indian Director
· Fardan Abdullah
Fardan Al Fardan Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
January 1999
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 52213, Dubai
Trade Licence No. : 509471 (Expires 20/12/2009)
Chamber Member No. : 43232
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
· Fardan Abdullah Fardan
Al Fardan 51%
· Natwar
Tribhovandas Zaveri 17%
· Jayatri Vindu
Kumar Nanjia Zaveri 16%
· Indrajit Zaveri 16%
AFFILIATED COMPANIES
· Al Ameerat Diamond
LLC
Baniyas Road
Deira City Centre
PO Box : 50515
Dubai
Tel : (971-4) 2955088
Fax : (971-4) 2955022
OPERATIONS
Activities: Engaged in the import and distribution of jewellery, precious stones
and watches.
Import Countries: Europe and the Far East
Operating Trend: Steady
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 31/12/06: Year
Ending 31/12/07:
Total Sales UAE
Dh 8,800,000 UAE Dh
11,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of Dubai
Baniyas Street
PO Box :
777
Dubai
Tel :
(971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999, subject is involved in the import and distribution
of jewellery, precious stones and watches.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed 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.44.26 |
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UK Pound |
1 |
Rs.79.19 |
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Euro |
1 |
Rs.64.42 |
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%)