MIRA INFORM
REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
STERLING STAR TRADING LLC |
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Registered Office : |
Al Shammal
Building, 1st Floor, Suite No. 3, Gold Souk, Deira, P O Box 18133,
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 : |
29.02.2004 |
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Com. Reg. No.: |
66243, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of jewellery, pearls and precious stones, watches, giftware and crystal ware |
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 : STERLING STAR TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th February 2004
Commercial Registration Number : 66243, Dubai
Trade Licence Number : 554040
Chamber Membership Number : 84846
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : Wholesale and retail of jewellery, pearls and precious stones, watches,
giftware and crystal ware
Activities : 10
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mr Behavish Dipak Jafiri, Managing Director
COMPANY NAME
STERLING STAR TRADING LLC
company ADDRESS
Registered & Physical Address
Building : Al Shammal Building, 1st
Floor, Suite No. 3
Area : Gold Souk, Deira
PO Box : 181330
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2351841
Facsimile : (971-4) 2351842
Mobile : (971-50) 6544679
Email : sterlingstar@hotmail.com / sterlingstartrading@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Behavish
Dipak Jafiri Indian Managing
Director
·
Ahmad
Abdullah Fardan Al Fardan Emirati Director
·
Ashish Madwani - Commercial
Manager
·
Badresh Shah - Finance
Manager
·
Kival Doshi - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
February 2004
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 66243, Dubai
Trade Licence No. : 554040
(Expires 27/02/2012)
Chamber Member No. : 84846
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ahmad Abdullah
Fardan Al Fardan 51%
·
Behavish
Dipak Jafiri 49%
AFFILIATED COMPANIES
·
Star Gems
Antwerp
Belgium
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery,
pearls and precious stones, watches, giftware and crystal ware.
Import
Countries: India, Thailand
and Sri Lanka
Operating Trend: Steady
Subject has a
workforce of 10 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
46,800,000 UAE Dh
48,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Behavish Dipak Jafiri, Managing Director
BANKERS
·
Habib
Bank AG Zurich
Baniyas Road
PO Box: 3306
Dubai
Tel: (971-4) 2214535
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 |
|
US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.71.91 |
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Euro |
1 |
Rs.64.60 |
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.