MIRA INFORM
REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE DIAMOND & JEWELLERY TRADING LLC |
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Registered Office : |
New Gold Centre,
Suite No. 98, 4th Floor, Zone IV, Al Khor Street, As Ras, P
O Box 34735, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.07.1998 |
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Com. Reg. No.: |
51428, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Retail of jewellery, pearls and precious stones, diamonds, watches and spare parts |
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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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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Qatar |
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 |
Bottom of Form
SUMMARY
Company Name : UNIQUE DIAMOND & JEWELLERY TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th July 1998
Commercial Registration Number : 51428, Dubai
Trade Licence Number : 506631
Chamber Membership Number : 50369
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Retail of jewellery, pearls and precious stones, diamonds, watches and
spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rajesh Emichand Jean, Managing Director
COMPANY NAME
UNIQUE DIAMOND & JEWELLERY TRADING LLC
company ADDRESS
Registered & Physical Address
Building : New Gold Centre, Suite No. 98, 4th
Floor, Zone IV
Street : Al Khor Street
Area : As Ras
PO Box : 34735
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2259715 / 2290262
Facsimile : (971-4) 2259533
Mobile : (971-50) 6556341
Email : unidiam@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
·
Rajesh Emichand
Jean Indian Managing
Director
·
Abdullah
Ali Hassan Abdullah Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 19th
July 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51428, Dubai
Trade Licence No. : 506631
(Expires 12/07/2011)
Chamber Member No. : 50369
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Abdullah
Ali Hassan Abdullah 51%
·
Rajesh
Emichand Jean 49%
OPERATIONS
Activities: Engaged in the retail of jewellery, pearls
and precious stones, diamonds, watches and spare parts.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
13,710,000 UAE Dh
15,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by Rajesh Emichand Jean, Managing Director
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel:
(971-4) 2229131 / 2221134
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1998, subject is involved in the wholesale and retail of jewellery, precious
stones and watches.
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.44.72 |
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UK Pound |
1 |
Rs.73.47 |
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Euro |
1 |
Rs.65.38 |
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.