MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VISION DIAM DMCC |
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Registered Office : |
Al
Masa Tower, 46th Floor, Office No. E & F, Sheikh Zayed Road, PO Box 71241,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of Polished Diamonds and
Jewellery Items |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : VISION DIAM DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 2007
Trade Licence Number : 0907, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Traders of polished diamonds and jewellery items
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
VISION DIAM DMCC
ADDRESS
Registered & Physical Address
Building : Al Masa
Tower, 46th Floor, Office No. E & F
Street : Sheikh Zayed Road
PO Box : 71241
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2352503
Facsimile : (971-4) 2352503
Mobile : (971-50) 2815460
Email : vishalbvora@gmail.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
·
Vithal
Vagethisya Managing
Director
·
Amit
Vagethisya Director
·
Vishal
B. Vora General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
Limited Liability Company
Trade Licence No. : 0907, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Vithal
Vagethisya
·
Amit
Vagethisya
OPERATIONS
Activities: Engaged as traders
of polished diamonds and jewellery items.
Import
Countries: India and Africa
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.83 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.67.26 |
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%)