MIRA INFORM
REPORT
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Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
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Name : |
BULLION AND GEMS FZC |
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Registered Office : |
Hamriyah Free Zone, P O Box 52312,
Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.04.2010 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Traders of gold bullion and precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New company |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Arab Emirates |
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 : BULLION AND GEMS FZC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 21st April 2010
Trade Licence Number : 6321
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Activities : Traders of gold bullion and precious stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
BULLION AND GEMS
FZC
company ADDRESS
Registered Address
Location : Hamriyah Free
Zone
PO Box : 52312
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6)
5683997
Physical
Address
Location : Gold Centre Building, Suite No.
28, 1st Floor, Zone No. 5
Area : Gold Souq
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2254254
Facsimile : (971-4) 2266387
Mobile : (971-50) 4596399
Email : hrbafna50@gmail.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 Nationality Position
·
Herchand
Bafna Indian Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 21st
April 2010
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 6321
(Expires 20/04/2012)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Herchand
Bafna 100%
AFFILIATED COMPANIES
·
Bali Bullion
Trading FZC
Gold Centre Building, Suite No. 28, 1st
Floor, Zone No. 5
Gold Souq
Dubai
Tel: (971-4) 2254254
Fax: (971-4) 2266387
Lic. No. 6488
OPERATIONS
Activities: Engaged as traders of gold bullion and
precious stones.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial records are not available,
therefore dealings are recommended to be on secured terms, and a close
monitoring of subject’s business development is advisable.
Bottom of Form
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.70.95 |
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Euro |
1 |
Rs.63.63 |
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.