MIRA INFORM REPORT
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Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE DIAMOND AND JEWELLERY FZE |
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Registered Office : |
Ajman Free Zone,
SM Office, C1-703B, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
25.02.2008 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and distribution of diamonds and jewellery. |
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 – 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 |
SUMMARY
Company Name : UNIQUE DIAMOND AND JEWELLERY FZE
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Start Date : 25th February 2008
Trade Licence Number : 3339
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 1
Activities : Import and distribution of diamonds and jewellery.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
UNIQUE DIAMOND AND JEWELLERY FZE
company ADDRESS
Registered &
Physical Address
Location : Ajman Free Zone, SM Office,
C1-703B
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 5330141
Facsimile : (971-6) 5330841
Mobile : (971-56) 6243227 / 6965347
Email : uniquediamondjewellery@gmail.com
Please note that
land line numbers above locate Mr Jayesh Doshi’s home address in Sharjah.
Premises
Subject operates
from a small suite of offices that are rented and located in the Ajman Free
Zone.
KEY PRINCIPALS
Name Nationality Position
·
Jayesh Doshi Indian Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 25th
February 2008
History :
Subject began on the 25th
February 2008 as a Free Zone Company owned by Mr Chandra Shekaran and Mr Bhar
Maldoha. However on 5th December 2010 the company re-registered as a
Free Zone Establishment under the new ownership of Panera Assets Inc.
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 3339
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder
(s) Percentage
·
Panera Assets Inc 100%
British Virgin Islands
Please note that Panera Assets Inc
is owned 50-50 by two further companies from the British Virgin Islands, namely
Moore
Private Investment Ltd and Madison Capital Private Ltd.
OPERATIONS
Activities: Engaged in the
import and distribution of diamonds and jewellery.
Import
Countries: India and
Thailand
Subject has a
workforce of 1 employee.
FINANCIAL DATA
Companies
registered in Ajman, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
·
Mashreq
Bank Plc
PO Box: 11
Ajman
Tel: (971-6) 7422440
Fax: (971-6) 7426690
·
Standard
Chartered Bank
Al Boorj Avenue
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
·
Abu
Dhabi Commercial Bank
PO Box: 4377
Sharjah
Tel: (971-6) 5737000
Fax: (971-6) 5725331
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.46.97 |
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UK Pound |
1 |
Rs.74.22 |
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Euro |
1 |
Rs.63.66 |
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.