MIRA INFORM
REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SMILE JEWELLERY LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
27.09.1991 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of jewellery and diamonds |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United Arab Emirates |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : SMILE JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 27th September 1991
Trade Licence Number : 229368
Chamber Membership Number : 25512
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of jewellery and diamonds.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY
NAME
SMILE JEWELLERY LLC
company
address
Registered & Physical
Address
Building : Al
Area : Gold Souq, Deira
PO Box : 57839
Town :
Country :
Telephone : (971-4) 2354094
Facsimile : (971-4) 2354094 / 2354095
Email : pranav012@hotmail.com
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
·
Ismail Abdul Nabi Hussain Qassim Emirati Managing
Director
·
Abdulrahman Hussain Al Bana Emirati Director
·
Pranav Shah - Commercial Manager
LEGAL
FORM & OWNERS
Date of Establishment : 27th
September 1991
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 229368 (Expires
27/09/2011)
Chamber Member No. : 25512
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Ismail Abdul Nabi Hussain Qassim
·
Abdulrahman Hussain Al Bana
OPERATIONS
Activities : Engaged in the wholesale and retail of
jewellery and diamonds.
Import Countries :
Operating Trend : Steady
Subject has a
workforce of 6 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year Ending
31/12/09:
Total Sales UAE Dh 11,500,000 UAE Dh 12,150,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
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|
1 |
Rs.72.08 |
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Euro |
1 |
Rs.63.66 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.