MIRA INFORM
REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Name : |
AL NEEL DIAMOND & JEWELLERY LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.01.2004 |
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Com. Reg. No.: |
65544, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Retail of jewellery, precious stones, watches, crystal products and gift items |
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 : AL NEEL DIAMOND & JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 11th January 2004
Commercial Registration Number : 65544,
Trade Licence Number : 552434
Chamber Membership Number : 83577
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Retail of jewellery, precious stones, watches, crystal products and gift
items
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Manish Kothari, Managing Director
COMPANY NAME
AL NEEL DIAMOND & JEWELLERY LLC
company address
Registered & Physical Address
Building :
Location : Gold Souq
Area : Al Bateen, Deira
PO Box : 115950
Town :
Country :
Telephone : (971-4) 2096522
Facsimile : (971-4) 2096534
Email : manish1215@hotmail.com
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
·
Manish Kothari Indian Managing
Director
·
Ms
Laila Abdullah Fardan Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 11th
January 2004
History : Subject was originally established in 2004
between the following shareholders:
- Ms
Laila Abdullah Fardan Ali (51%)
-
Beraj Mukaish Mahta (49%)
However, on 1st March 2010 Mr
Beraj Mukaish Mahta withdrew from the company after
selling his share to a new
owner, namely Manish Kothari.
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 65544,
Trade Licence No. : 552434
Chamber Member No. : 83577
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ms
Laila Abdullah Fardan Ali 51%
·
Manish Kothari 49%
OPERATIONS
Activities: Engaged in the retail of jewellery,
precious stones, watches, crystal products and gift items.
Import
Countries: Europe and the
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Mr Manish Kothari was unwilling to reveal any financial information as
he had only taken over the business from the 1st March 2010.
Furthermore, companies
registered in
BANKERS
·
National
Bank of Ras Al Khaimah
PO Box: 1531
Tel: (971-4) 2226291
Fax: (971-4) 2281312
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Al Neel Diamond
& Jewellery LLC commenced operations in 2004 and is engaged in the retail
of jewellery, precious stones, watches, crystal products and gift 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.57 |
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1 |
Rs.72.50 |
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Euro |
1 |
Rs.62.46 |
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.