MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Name :

JACKY’S ELECTRONICS LLC 

 

 

Registered Office :

Airport Road, P O Box 13745, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

25.09.1985

 

 

Com. Reg. No.:

42635, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of general merchandise

 

 

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

 

Maximum Credit Limit :

US$ 150,000

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)

United Arab Emirates 

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                                     : JACKY’S ELECTRONICS LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 25th September 1985

Commercial Registration Number                        : 42635, Dubai

Trade Licence Number                            : 208553

Chamber Membership Number                : 3557

Issued Capital                                        : UAE Dh 3,000,000

Paid up Capital                                      : UAE Dh 3,000,000

Total Workforce                                     : 500

Activities                                               : Distributors of general merchandise.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

JACKY’S ELECTRONICS LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Airport Road

PO Box             : 13745

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2821822

Facsimile          : (971-4) 2821474

Email                : dubai@jackys.com / sales@jackys.com

 

Premises

Subject operates from a medium sized suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Baniyas Square                                                                                Showroom premises

Dubai

Tel: (971-4) 2238700

Fax: (971-4) 2240642

 

·       Jumeirah Beach                                                                                Showroom premises

Dubai

       Tel: (971-4) 3486015

       Fax: (971-4) 3466016

 

·       Mirdif City Centre                                                                              Showroom premises

Dubai

       Tel: (971-4) 2845192

       Fax: (971-4) 2843926

 

·       Deira City Centre                                                                               Showroom premises

Dubai

Tel: (971-4) 2949480

Fax: (971-4) 2957991

 

·       Ibn Batuta Mall                                                                                  Showroom premises

Dubai

Tel: (971-4) 3685080

Fax: (971-4) 3685081

 

·       Sahara Centre                                                                                   Showroom premises

Sharjah

Tel: (971-6) 5316061

Fax: (971-6) 5316343

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Jagdish Parsram Panjabi                                 British                         Managing Director

 

·       Ali Abdullah Ahmed Al Hammadi                      Emirati                        Director

 

·       Solani Tolani                                            -                            General Manager

 

·       Babeish Valter                                                     -                            Marketing Manager

 

·       P V Shakir                                                           -                            Chief Financial Officer

 

·       Franco Joseph                                                     -                            Finance Manager

 

·       Elias Ahmed                                                        -                            Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th September 1985

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 42635, Dubai

 

Trade Licence No.       : 208553 (Expires 17th September 2011)

 

Chamber Member No. : 3557

 

Issued Capital              : UAE Dh 3,000,000

 

Paid up Capital            : UAE Dh 3,000,000

 

Name of Shareholder (s)                                          Percentage

 

·       Ali Abdullah Ahmed Al Hammadi                                51%

 

·       Jagdish Parsram Panjabi                                           49%

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general merchandise, including household electrical appliances, office equipment, photography equipment, mobile telephones and books.

 

In May 2010, Jacky’s was awarded Super Retailer of the Year in the Reseller Middle East Awards 2010.

 

Import Countries: Europe and the Far East.

 

Brand Names: LA GERMANIA, SMEG, GRUNDIG and DAEWOO

 

Subject has a workforce of approximately 500 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.

 

 

BANKERS

 

·       Citibank

Al Maktoum Street

Deira

PO Box: 749

Dubai

Tel: (971-4) 5074121

     Fax: (971-4) 2238922

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1985, subject is owned and managed by Mr Jagdish Parsram Panjabi, a British national who operates in Dubai under the local sponsorship of Mr Ali Abdulla Ahmed Al Hammadi.

 

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.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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.