MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TARADIAM MIDDLE EAST FZE |
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Registered Office : |
Al Quds Street,
Dubai Airport Free Zone, West Site, 3W/122, P O Box 54432, 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 : |
13.01.2004 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Traders of diamonds and jewellery. Subject also offers diamond polishing services. |
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) |
|
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 : TARADIAM MIDDLE EAST FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th January 2004
Trade Licence Number : 0353, DAFZA
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 3
Activities :
Traders of diamonds and jewellery. Subject also
offers diamond
polishing services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Chirag Doshi, General Manager
COMPANY
NAME
TARADIAM MIDDLE EAST FZE
company
ADDRESS
Registered & Physical
Address
Street : Al Quds Street
Location : Dubai Airport Free Zone, West Site,
3W/122
PO Box : 54432
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2996781
Facsimile : (971-4) 2997335
Mobile : (971-50) 5041938
Email : info@taradiam.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Dubai Airport
Free Zone.
KEY
PRINCIPALS
Name Nationality Position
·
Bhawin
Mehta Indian Managing
Director
·
Abhijeet
Mehta Indian Director
·
Chirag
Doshi - General
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 13th
January 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 0353, DAFZA
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
·
Taradiam
Ltd 100%
Singapore
AFFILIATED
COMPANIES
·
Mehta
Brothers Gems Pvt Ltd
635 Panchratna, Opera House
Mumbai 400004
India
Tel: (91-22) 23692756
Fax: (91-22) 23631289
Email: ritesh@hathway.com
·
Adiam
(Thailand) Ltd
919/514 Jewellery Trade Center
Silom Road
Bangkok 10500
Thailand
Tel: (662) 6303000
Fax: (662) 6303310
Email: kayur@adiam.com
·
Adiam
NV
Hoveniersstraat 30
2018 Antwerp
Belgium
Tel: (32-3) 2260389
Fax: (32-3) 2261092
Email: adiam@skynet.be
OPERATIONS
Activities: Engaged as traders
of diamonds and jewellery. Subject also offers diamond polishing services.
Import
Countries: South Africa and
Asia
Operating Trend: Steady
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
31,500,000 UAE Dh
35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Chirag Doshi, General Manager
BANKERS
·
Habib
Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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 |
|
|
>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 |
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.