MIRA INFORM
REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
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Name : |
VRAMS DIAMONDS LLC |
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Registered Office : |
Al Daghaya Building, Suite No. 110, Al Daghaya Street, Gold
Souq, Deira, P O Box 65194, 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 : |
22.10.2005 |
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Com. Reg. No.: |
76842, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of loose diamonds and diamond jewellery. Subject also designs and manufactures diamond 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 : |
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 – 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 |
Bottom of Form
SUMMARY
Company Name : VRAMS DIAMONDS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 22nd October 2005
Commercial Registration Number : 76842, Dubai
Trade Licence Number : 574470
Chamber Membership Number : 101887
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Traders of loose diamonds and diamond jewellery. Subject also designs
and manufactures diamond jewellery pieces.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vishal Bharatkumar Vora, Managing Director
COMPANY NAME
VRAMS DIAMONDS LLC
company ADDRESS
Registered & Physical Address
Building : Al
Daghaya Building, Suite No. 110
Street : Al Daghaya Street
Area : Gold Souq, Deira
PO Box : 65194
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2352503
Facsimile : (971-4) 2261726
Mobile : (971-50) 3848972
Email : vishalbvora@gmail.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
·
Vishal
Bharatkumar Vora Indian Managing
Director
·
Hamd
Hussain Ali Al Salman Emirati Director
·
Vipol Kumar Wagasia - Sales
Manager
·
Hardeek
Kantrodia - Assistant
Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
October 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 76842, Dubai
Trade Licence No. : 574470
(Expires 21/10/2011)
Chamber Member No. : 101887
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Hamd
Hussain Ali Al Salman 51%
·
Vishal
Bharatkumar Vora 49%
OPERATIONS
Activities: Engaged as traders of loose diamonds and
diamond jewellery. Subject also designs and manufactures diamond jewellery
pieces.
Import
Countries: India, South
Africa and Europe.
Operating Trend: Steady
Subject has a
workforce of 5 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
14,765,000 UAE Dh
15,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Vishal Bharatkumar Vora, Managing Director
BANKERS
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Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.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.