MIRA
INFORM REPORT
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Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
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Name : |
SEASON STAR JEWELLERY LLC |
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Registered Office : |
Al Ras Gold Souq, Plot No. 112-544, Office No. M01, Mezzanine Floor
Naif, Deira |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.04.2008 |
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Com. Reg. No.: |
1026972, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and retail of jewellery, pearls and precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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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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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 : SEASON STAR JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 10th April 2008
Commercial Registration Number : 1026972, Dubai
Trade Licence Number : 609462
Chamber Membership Number : 133432
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Wholesale and retail of jewellery, pearls and precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ketanbhai Babubhai Jasani, Managing Director
COMPANY NAME
SEASON STAR JEWELLERY LLC
ADDRESS
Registered & Physical Address
Location : Al Ras Gold
Souq, Plot No. 112-544, Office No. M01, Mezzanine Floor
Area : Naif, Deira
PO Box : 57697
Town :
Country :
Telephone : (971-4) 2256126
Facsimile : (971-4)
2256126
Email : seastaruae@yahoo.com
Please note that PO Box number 57695 is used by a company called “Bani
Hashem Abaya”.
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
· Ketanbhai Babubhai
Jasani Indian Managing
Director
· Laila Abdullah
Fardan Ali Emirati Director
· Asmita K Jasani - Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 10th
April 2008
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1026972,
Trade Licence No. : 609462 (Expires 09/04/2012)
Chamber Member No. : 133432
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Laila Abdullah
Fardan Ali 51%
· Ketanbhai Babubhai
Jasani 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery, pearls and precious
stones.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 3 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 5,825,000 UAE Dh
6,120,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ketanbhai Babubhai Jasani,
Managing Director
BANKERS
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding 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.45.07 |
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1 |
Rs.72.97 |
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Euro |
1 |
Rs.63.57 |
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.