MIRA INFORM
REPORT
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Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
VENUS STAR DIAMOND LLC |
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Registered Office : |
Gold Land Building, Suite M27, Al Ras Street, Al Ras, Gold Souq, Deira,
P O Box 57959, 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 : |
30.12.2001 |
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Com. Reg. No.: |
58177, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of diamonds, precious stones, jewellery, watches 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 – March 31st, 2011
|
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 : VENUS STAR DIAMOND LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th December 2001
Commercial Registration Number : 58177, Dubai
Trade Licence Number : 531062
Chamber Membership Number : 66415
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Wholesale and retail of diamonds, precious stones, jewellery, watches
and gift items
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nilesh Kumar Gadhiya, Finance Manager
COMPANY NAME
VENUS STAR DIAMOND LLC
company ADDRESS
Registered & Physical Address
Building : Gold Land Building,
Suite M27
Street : Al Ras Street
Area : Al Ras, Gold Souq, Deira
PO Box : 57959
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2266970
Facsimile : (971-4) 2260633
Mobile : (971-50) 7457847
Email : venus@venusdiam.com / venusexport@yahoo.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
·
Vinodrae
Harelal Gadhiya Indian Managing
Director
·
Ali
Abdullah Salih Hamad Al Jalaf Emirati Director
·
Nilesh
Kumar Gadhiya Indian Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
December 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 58177, Dubai
Trade Licence No. : 531062
Chamber Member No. : 66415
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ali
Abdullah Salih Hamad Al Jalaf 51%
·
Vinodrae
Harelal Gadhiya 49%
AFFILIATED COMPANIES
·
Venus Export
Mumbai
India
OPERATIONS
Activities: Engaged in the wholesale and retail of diamonds,
precious stones, jewellery, watches and gift items.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 4 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
285,000,000 UAE Dh
292,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures were confirmed by Mr Nilesh Kumar Gadhiya, General Manager
BANKERS
·
Emirates
Bank International Ltd
Al Nasr Square
PO Box: 2923
Dubai
Tel: (971-4) 2281181
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2001, subject is involved in the wholesale and retail of diamonds, precious
stones, jewellery, watches and gift items.
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 |
|
US Dollar |
1 |
Rs.44.77 |
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|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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.