MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SU-RAJ INTERGOLD DMCC |
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Registered Office : |
Gold Centre
Building, Zone 5, 2nd Floor, Suite No. 56, PO Box 172157, 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 : |
09.04.2006 |
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Legal Form : |
Free Zone Company – FZ LLC |
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Line of Business : |
Distributors of Jewellery, Diamonds and Other Precious
Stones |
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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 : SU-RAJ INTERGOLD DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company – FZ LLC
Registration Date : 9th April 2006
Trade Licence Number : 30209
Chamber Membership Number : 106390
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 7
Activities : Distributors of jewellery, diamonds and other precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
SU-RAJ INTERGOLD
DMCC
ADDRESS
Registered & Physical Address
Location : Gold Centre Building, Zone 5, 2nd
Floor, Suite No. 56
PO Box : 172157
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2291001
Facsimile : (971-4) 2351004
Email : rahul@su-rajintergold.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 Nationality Position
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Rajan
Kishorimal Khimawat Indian Managing Director
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Rahul
Kishorimal Khimawat Indian Director
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Jackin Manier - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
April 2006
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : 30209
(Expires 08/04/2009)
Chamber Member No. : 106390
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
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Rajan
Kishorimal Khimawat 100%
OPERATIONS
Activities: Engaged in the import and distribution of
jewellery, diamonds and other precious stones.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 7 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Total Sales UAE
Dh 30,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Jackin Manier, Finance Manager
BANKERS
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Mashreq Bank
Plc
Deira Branch
PO Box 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Acc No. 0492524563
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2006,
subject is involved in the import and distribution of jewellery, diamonds and
other precious stones.
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.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)