MIRA INFORM
REPORT
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Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SHAYONA GEMS LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.03.2005 |
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Com. Reg. No.: |
72769, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and retail of jewellery and precious stones. |
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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
SUMMARY
Company Name : SHAYONA GEMS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 15th March 2005
Commercial Registration Number : 72769,
Trade Licence Number : 566801
Chamber Membership Number : 95513
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Import and retail of jewellery and precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Eshwarbhai Tulishibhai Kikani, Managing Director
COMPANY NAME
SHAYONA GEMS LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Gold Souq, Deira
PO Box : 57651
Town :
Country :
Telephone : (971-4) 2353286
Facsimile : (971-4) 2353287
Email : shayonag@eim.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
·
Eshwarbhai
Tulishibhai Kikani Indian Managing
Director
·
Hamdan
Mohamed Essa Al Samt Emirati Director
·
Mayor Ashok Bhaisorani - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 15th
March 2005
History : Subject was established in 2005 and was registered
between the following shareholders:
-
Eshwarbhai Tulishibhai Kikani
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Devendra Kumar Karshenbhai Kikani
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Hamdan Mohamed Essa Al Samt
However in December 2006 Mr Devendra Kumar
Karshenbhai Kikani left the company and it
was re-registered between the
existing shareholders.
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 72769,
Trade Licence No. : 566801
Membership No. : 95513
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Hamdan
Mohamed Essa Al Samt 51%
·
Eshwarbhai
Tulishibhai Kikani 49%
OPERATIONS
Activities: Engaged in the import and retail of
jewellery, precious stones and loose diamonds.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 3 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
18,750,000 UAE Dh
19,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Eshwarbhai Tulishibhai Kikani, Managing Director.
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.84 |
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|
1 |
Rs.69.32 |
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Euro |
1 |
Rs.59.79 |
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.