MIRA
INFORM REPORT
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Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
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Name : |
RISING STAR DMCC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.06.2005 |
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Legal Form : |
Free Zone Establishment (single shareholder limited liability company) |
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Line of Business : |
Trading as importers and distributors of polished and loose 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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Maximum Credit Limit : |
Dh 2,000,000 |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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UAE |
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 |
Company NAME
Rising Star DMCC
ADDRESS
Building :
Area : Gold Souq, Al Dhagaya, Deira
P.O.Box No.: 120394
Town :
Country :
Telephone : (971 4) 226 9091 / Mobile (971
50) 280 3890 (Janat Merchant)
Fax : (971 4) 235 4004
E-Mail : risingstardmcc@yahoo.com
SENIOR COMPANY PERSONNEL
Name Position
1. Atish Mehta Managing Director
2. Janat Merchant Sales
Executive
Total Employees : 5
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for LARGE amounts.
Opinion on maximum credit : Dh 2,000,000
Trade risk assessment:
PRINCIPAL BANKERS
NAME : RAK BANK
Branch : Sultan Business Centre
P.O. Box : 1531
Town :
Telephone: (971 4) 224 8000
Fax : (971 4) 337 0342 / 337
0342
The company also has an account with:
1. Mashreq Bank
Omer
Telephone: (971 4) 222 9131
Fax : (971 4) 222 6061
2. RBS bank (fmly ABN Amro Bank)
Tel: (971 4) 351 2200
Fax: (971 4) 351 1555
FINANCIAL INFORMATION
Private companies in
Sales turnover : US
DLRS 30,000,000 - 2009 – exact
: US DLRS 33,000,000 – 2010 – exact
: US
DLRS 36,000,000 – 2011 - projected
Net Profit : not
given but stated to be profitable
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 24 June 2005
History : The subject company was established in Dubai Multi Commodities Centre (DMCC) on 24 June
2005. Subject’s trade license is
valid until 23 June 2011.
Capital: Dh 200,000
Free Zone Establishment (single shareholder limited liability company)
with the following sole shareholder :
Atish Mehta
100%
(Indian national)
Dubai Multi Commodities Centre (DMCC) is a free zone authority
offering 100% business ownership, a guaranteed 50 year tax holiday
and freehold property options. Entities licensed by DMCC (Free Zone
Establishment or Free Zone Companies / LLC) are not required to have
a local sponsor. Minimum capital requirement is Dh 200,000.
DMCC is a strategic initiative of the
establish a commodity market place in
specific market infrastructure and a range of facilities for the gold
& precious metals, diamonds & coloured stones, energy and other
commodities industries.
ACTIVITIES
The Company is involved in the following activities :
Trading as importers and distributors of polished and loose diamonds.
Imports from
Exports to
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative office premises located at the
heading address.
SPECIAL NOTE
Interviewed: Janat Merchant (Sales Executive).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.77 |
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1 |
Rs.75.57 |
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Euro |
1 |
Rs.65.97 |
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.