MIRA INFORM
REPORT
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Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
DIA STAR GEMS LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.10.2004 |
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Com. Reg. No.: |
70420, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution
of watches, jewellery, precious stones 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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : DIA STAR GEMS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 18th October 2004
Commercial Registration Number : 70420,
Trade Licence Number : 562413
Chamber Membership Number : 91776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Import and distribution of watches, jewellery, precious stones and gift
items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Deepak Sarana, Commercial Manager
COMPANY NAME
DIA STAR GEMS LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Gold Souq, Al Ras, Deira
PO Box : 57908
Town :
Country :
Telephone : (971-4) 2266086
Facsimile : (971-4) 2255286
Email : diastar@emirates.net.ae
/ diastargems@yahoo.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
·
Keyyr Amrutlal Modi Indian Managing
Director
·
Rama Nathan Subramanian Indian Director
·
Hamdan Mohamed Essa Al Samt Emirati Director
·
Deepak Sarana - Commercial
Manager
·
Mr Powen - Accounts
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
October 2004
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 70420,
Trade Licence No. : 562413
Chamber Member No. : 91776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Hamdan Mohamed Essa Al Samt 51%
·
Rama Nathan Subramanian 25%
·
Keyyr Amrutlal Modi 24%
OPERATIONS
Activities: Engaged in the import and distribution of
watches, jewellery, precious stones and gift items.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
37,000,000 UAE Dh
37,825,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2004, subject is owned and managed by two Indian nationals who operate in
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.44.97 |
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1 |
Rs.73.35 |
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Euro |
1 |
Rs.63.98 |
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 |
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.