MIRA
INFORM REPORT
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Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHREE LAXMI JEWELLERY LLC |
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Registered Office : |
Royal Diamond Building, 2nd Floor, Suite 203 Umer Ibn Al Khattab
Street Al Daghaya, Deira PO Box 171759
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 : |
05.04.2005 |
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Com. Reg. No.: |
73249, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and retail of gold, jewellery, loose diamonds and precious stones |
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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UAE |
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 : SHREE LAXMI JEWELLERY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 5th April 2005
Commercial Registration Number : 73249, Dubai
Trade Licence Number : 567756
Chamber Membership Number : 96147
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale and retail of gold, jewellery, loose diamonds and precious stones
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sanjay Kumar, Sales Manager
COMPANY NAME
SHREE LAXMI JEWELLERY LLC
company ADDRESS
Registered & Physical Address
Building : Royal
Diamond Building, 2nd Floor, Suite 203
Street : Umer Ibn Al
Khattab Street
Area : Al Daghaya,
Deira
PO Box : 171759
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2353112
/ 2353117
Facsimile : (971-4)
2522642 / 2353118
Mobile : (971-50)
9368614
Email : dubai@laxmijewel.com / dubai@laxmijewellery.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
· Gajira Rakish
Girdalal Indian Managing
Director
· Mohamed Ali Rashed
Sowalem Al Agtobe Emirati Director
· Shaker Redy - Commercial
Manager
· Sanjay Kumar - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 5th
April 2005
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 73249, Dubai
Trade Licence No. : 567756
Chamber Member No. : 96147
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Ali Rashed
Sowalem Al Agtobe 51%
· Gajira Rakish
Girdalal 49%
AFFILIATED COMPANIES
· Laxmi Jewellery
Export Pvt Ltd
Mumbai
India
OPERATIONS
Activities: Engaged in the wholesale and retail of gold, jewellery, loose diamonds
and precious stones.
Import Countries: India, Asia 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 14,700,000 UAE Dh
15,150,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Sanjay Kumar, Sales Manager
BANKERS
·
Emirates Bank International Ltd
Beniyas Road
Deira
PO Box: 2923
Dubai
Tel: (971-4)
2256256 / 2256900
Fax: (971-4)
2268005 / 2267718
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.44.88 |
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|
1 |
Rs.72.60 |
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Euro |
1 |
Rs.64.01 |
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 |
-- |
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.