MIRA INFORM
REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
SAPPHIRE GENERAL TRADING LLC |
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Registered Office : |
Gold House
Building, 3rd Floor, Suite 707, Al Ras Street, Gold Souq, Al Ras, Deira,
P O Box 43277, Dubai |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.08.1988 |
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Com. Reg. No.: |
51060, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of gold, precious stones and jewellery |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : SAPPHIRE GENERAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 4th August 1988
Commercial Registration Number : 51060,
Trade Licence Number : 217291
Chamber Membership Number : 14162
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of gold, precious stones and jewellery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SAPPHIRE GENERAL TRADING LLC
company address
Registered & Physical Address
Building :
Street :
Area : Gold Souq, Al Ras, Deira
PO Box : 43277
Town :
Country :
Telephone : (971-4) 2350544
Facsimile : (971-4) 2350545
Email : sapphire@emirates.net.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
·
Abdul
Karim Javeed Hussain Indian Managing
Director
·
Mohamed
Hussain Abdul Karim Indian Director
·
Abdullah
Abdul Rahman Mohamed Hussain Emirati Director
·
Mohamed Bukhari Uvais - Finance
Manager
·
Sheikh Mohiddine - Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 4th
August 1988
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51060,
Trade Licence No. : 217291
Chamber Member No. : 14162
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Abdullah
Abdul Rahman Mohamed Hussain 51%
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Abdul
Karim Javeed Hussain 25%
·
Mohamed
Hussain Abdul Karim 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of
gold, precious stones and jewellery.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
11,850,000 UAE Dh
12,300,000
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
Established in 1988,
subject is engaged in the wholesale and retail of gold, precious stones and
jewellery.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.50 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.63 |
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 |
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.