MIRA INFORM
REPORT
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Report Date : |
12.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SHRENUJ DMCC |
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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 : |
24.07.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of cut diamonds 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
|
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 : SHRENUJ DMCC
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 24th July 2005
Trade Licence Number : 0498, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Traders of cut diamonds and jewellery
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Arapit Shah, Finance Manager
COMPANY NAME
SHRENUJ DMCC
company ADDRESS
Registered & Physical Address
Building :
Area : Al Daghaya, Deira
PO Box : 120485
Town :
Country :
Telephone : (971-4) 2259552 / 2295683
Facsimile : (971-4) 2295684
Email : shrenujdmcc@shrenuj.com / smitkothari@shrenuj.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Smit Kothari General
Manager
·
Arapit Shah Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
July 2005
Legal Form :
Limited Liability Company
Trade Licence No. : 0498, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Shrenuj & Co 100%
405 Dharam Palace, 100 - 103 N. S. Patkar Marg
Mumbai - 400 007
Tel: (91-22) 66373500
Fax: (91-22)
23632982
AFFILIATED COMPANIES
Subject is a member of the Shrenuj Group of Companies, which includes
the following concerns:
Name Country Incorporated
·
Alija International Pty Ltd
·
· Shrenuj
(
· Jomard
SAS (JV)
· Shrenuj
GmbH
· Inter-gems
(HK) Limited
· SWA
Trading Company (JV)
· Copem
& Shrenuj (JV)
· Shrenuj
Japan Corporation
·
Shrenuj
OPERATIONS
Activities: Engaged as traders of cut diamonds and
jewellery.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 15 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09:
Total Sales UAE
Dh 242,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures were confirmed by Arapit Shah, Finance
Manager.
BANKERS
·
Habib Bank
AG
PO Box: 3306
Tel: (971-4) 2214535
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.45.32 |
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|
1 |
Rs.70.54 |
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Euro |
1 |
Rs.58.70 |
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.