MIRA INFORM REPORT

 

 

Report Date :

13.01.2011

 

IDENTIFICATION DETAILS

 

Name :

ROSY BLUE (EURASIA) FZE

 

 

Registered Office :

Dubai Airport Free Zone, West Wing No. 3, 3rd Floor, Suite No. 304 PO Box 54303 Dubai

 

 

Country :

United Arab Emirates

 

 

Year of Establishment :

1999

 

 

Legal Form :

Free Zone Establishment – FZE

 

 

Line of Business :

Import, polishing and distribution of diamonds, precious stones and jewellery items

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

UAE

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ROSY BLUE (EURASIA) FZE

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Free Zone Establishment – FZE

Start Date                                             : 1999

Registration Date                                   : 6th November 2002

Trade Licence Number                            : 220

Chamber Membership Number                : 200147

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                                     : 45

Activities                                               : Import, polishing and distribution of diamonds, precious stones and

                                                              jewellery items

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Manoj Kumar, Administration Manager

 

COMPANY NAME

 

ROSY BLUE (EURASIA) FZE

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Dubai Airport Free Zone, West Wing No. 3, 3rd Floor, Suite No. 304

 

PO Box             : 54303

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 2995914 / 2995915

Facsimile          : (971-4) 2995916

Email                : rosyblue@emirates.net.ae / dubai@rosyblue.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Dubai Airport Free Zone.

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Arshad Mehta                                      Indian                                     Managing Director

 

·       Dilip Mehta                                          Indian                                     Director

 

·       Rihen Mehta                                        Indian                                     Director

 

·       Vadi Velu                                                -                                        Finance Manager

 

·       Manoj Shah                                             -                                        Commercial Manager

 

·       Manoj Kumar                                           -                                        Administration Manager

 

·       Murthy Krishnan Murthy                            -                                        Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1999, however subject was registered on 6th November 2002

 

Legal Form                  : Free Zone Establishment - FZE

 

Trade Licence No.       : 220 (Expires 5th November 2011)

 

Chamber Member No. : 200147

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)

 

·       Arshad Mehta

 

·       Dilip Mehta

 

 

AFFILIATED COMPANIES

 

·       Rosy Blue Trading LLC

     Gold Centre Building, Zone IV, Suite 134

     Al Khor Street

     Al Ras

     PO Box: 54303

     Dubai

     Tel: (971-4) 2252221 / 2998008

     Fax: (971-4) 2269442

 

·       Rosy Blue DMCC

     Almas Tower, Level 31, Jumeirah Lake

     PO Box: 340502

     Dubai

     Tel: (971-4) 4230644

     Fax: (971-4) 4230645

     Email: dubai@rosyblue.com

 

 

OPERATIONS

 

Activities: Engaged in the import, polishing and distribution of diamonds, precious stones and jewellery items.

 

Import Countries: Belgium and India

 

Subject has a workforce of 45 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources. However local informants reported that the Rosy Blue group has an annual turnover of UAE Dh 250-300 million.

 

 

BANKERS

 

·       ABN Amro Bank

Deira Branch

PO Box: 2567

Dubai

Tel: (971-4) 3512200

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1999, subject is involved in the import, polishing and distribution of diamonds, precious stones and jewellery items.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.16

UK Pound

1

Rs.70.64

Euro

1

Rs.58.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.