MIRA INFORM
REPORT
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Report Date : |
08.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ALLURE JEWELS LLC |
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Registered Office : |
The Gold Centre,
6th Floor, Suite No. 163, West 119B, Zone No. 5, Gold Souq, Deira,
P O Box112421, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.10.2004 |
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Com. Reg. No.: |
70245, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of Jewellery, Precious Stones and Watches |
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 : ALLURE JEWELS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 9th October 2004
Commercial Registration Number : 70245,
Trade Licence Number : 562057
Chamber Membership Number : 91451
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of jewellery, precious stones and watches
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Gikwad Vishwash, Sales Manager
COMPANY NAME
ALLURE JEWELS LLC
company ADDRESS
Registered & Physical Address
Building : The Gold Centre, 6th
Floor, Suite No. 163, West 119B, Zone No. 5
Area : Gold Souq, Deira
PO Box : 112421
Town :
Country :
Telephone : (971-4) 2295795
Facsimile : (971-4) 2267773
Email : allure99@eim.ae / allure99@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Vandita
Manoj Kumar Jain Indian Managing
Director
·
Fardan
Abdullah Fardan Al Fardan Emirati Director
·
Gikwad
Vishwash - Sales
Manager
·
Manish Kothari - Finance
Manager
·
Ajay Gupat Pathanhay - Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 9th
October 2004
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 70245,
Trade Licence No. : 562057
(Expires 4th February 2011)
Chamber Member No. : 91451
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Fardan
Abdullah Fardan Al Fardan 51%
·
Vandita
Manoj Kumar Jain 49%
AFFILIATED COMPANIES
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Al
Mashreq Jewels Co LLC
Gold Centre, Suite No. 163
Deira
PO Box: 27404
Tel: (971-4) 2255199
Fax: (971-4) 2267773
OPERATIONS
Activities : Engaged in the import and distribution of
jewellery, precious stones and watches.
Import Countries : Europe and the
Operating Trend : Steady
Subject has a
workforce of 5 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
57,220,000 UAE Dh
60,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2004, subject is involved in the import and distribution of jewellery, precious
stones and watches.
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.45.37 |
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1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
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.