MIRA INFORM
REPORT
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Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
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Name : |
BRILLIANT DIAMOND LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.08.1998 |
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Com. Reg. No.: |
51549, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers and retailers
of jewellery items, loose diamonds, precious stones, gold and silver
jewellery pieces. |
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 : |
Usually Correct |
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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 : BRILLIANT DIAMOND LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 8th August 1998
Commercial Registration Number : 51549,
Trade Licence Number : 507047
Chamber Membership Number : 50689
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 16
Activities : Wholesalers and retailers of jewellery items, loose diamonds, precious
stones, gold and silver jewellery pieces.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Santosh Kumar Gobi, Finance Manager
COMPANY NAME
BRILLIANT DIAMOND LLC
Company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Ras, Deira
PO Box : 42475
Town :
Country :
Telephone : (971-4) 2262690
Facsimile : (971-4) 2251313
Email : brildiam@emirates.net.ae
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
·
Shah
Paresh Trikamilal Indian Managing
Director
·
Jassim
Mohamed Ibrahim Abdullah Al Hasawi Emirati Director
·
Sanjay
Kumar Lal Jain - Commercial
Manager
·
Santosh
Kumar
·
Mr
Powen - Accounts
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
August 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51549,
Trade Licence No. : 507047
(Expires 07/08/2011)
Chamber Member No. : 50689
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Jassim
Mohamed Ibrahim Abdullah Al Hasawi 51%
·
Shah
Paresh Trikamilal 49%
AFFILIATED COMPANIES
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La Marquise
Diamond & Watches LLC
Tel: (971-4) 2953433
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery items and loose diamonds, precious stones, gold and
silver jewellery pieces.
Import
Countries: Europe,
Export
Countries:
Operating Trend: Steady
Subject has a
workforce of 16 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
131,600,000 UAE Dh
135,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Abu Dhabi
Commercial Bank
PO Box: 5550
Tel: (971-4) 2958888 / 3228141
Fax:
(971-4) 2959310
/ 3279632
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction April
2008
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Established in
1998, subject is owned and managed by Mr Shah Paresh Trikamilal, an Indian national
who operates in
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed 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.44.69 |
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1 |
Rs.70.87 |
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Euro |
1 |
Rs.62.26 |
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.