MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
D S M JEWELLERS LLC |
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Registered Office : |
Abdullah Al Ghurair
Real Estate Co Building, Shop No. 5, Gold Souq, Daghaya, Deira, P O Box
57845, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.02.2006 |
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Com. Reg. No.: |
78869, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of jewellery, diamonds and precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
United Arab Emirates |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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 : D S M JEWELLERS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 21st February 2006
Commercial Registration Number : 78869, Dubai
Trade Licence Number : 578095
Chamber Membership Number : 104864
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Traders of jewellery, diamonds and precious stones
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Nirv Ashwin Shah, Director
COMPANY
NAME
D S M JEWELLERS LLC
company
ADDRESS
Registered & Physical
Address
Building : Abdullah Al Ghurair Real Estate Co
Building, Shop No. 5
Area : Gold Souq, Daghaya, Deira
PO Box : 57845
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2266911
Facsimile : (971-4) 2262101
Mobile : (971-50) 8808396
Email : dsmjewellery@gmail.com / dsmjewel@eim.ae
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
·
Perma
Temparakash Ratila Indian Managing
Director
·
Nirv
Ashwin Shah Indian Director
·
Obaid
Gharib Yaqoot Khamis Al Mazrooei Emirati Director
LEGAL
FORM & OWNERS
Date of Establishment : 21st
February 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 78869, Dubai
Trade Licence No. : 578095
(Expires 20/02/2012)
Chamber Member No. : 104864
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
·
Obaid
Gharib Yaqoot Khamis Al Mazrooei 51%
·
Perma
Temparakash Ratila 25%
·
Nirv Ashwin
Shah 24%
AFFILIATED
COMPANIES
·
Diaveer Dvba
Antwerp
Belgium
·
DSM Pacific
Sydney
Australia
·
S.R Diamonds
Mumbai
India
OPERATIONS
Activities: Engaged as traders of jewellery, diamonds
and precious stones.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 3 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/09: Year Ending
31/12/10:
Total Sales UAE Dh
13,000,000 UAE Dh
15,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Nirv Ashwin Shah, Director
BANKERS
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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 |
|
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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.