MIRA INFORM
REPORT
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Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BROWN STAR JEWELLERY 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 : |
14.01.2008 |
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Com. Reg. No.: |
1021953, |
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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, as well as watches, crystal products and giftware. |
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 |
SUMMARY
Company Name : BROWN STAR JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 14th January 2008
Commercial Registration Number : 1021953,
Trade Licence Number : 605283
Chamber Membership Number : 128127
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Wholesale and retail of jewellery, pearls and precious stones, as well as
watches, crystal products and giftware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vijay Behobat Bhai Desai, Managing Director
COMPANY NAME
BROWN STAR JEWELLERY
LLC
company address
Registered &
Physical Address
Building :
Area : Gold Souq, Al Daghaya, Deira
PO Box : 65259
Town :
Country :
Telephone : (971-4) 2356656
Facsimile : (971-4) 2356657
Email : brownstr@emirates.net.ae / smsvijay@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
·
Vijay
Behobat Bhai Desai Indian Managing
Director
·
Laila Abdullah Fardan Ali Emirati Director
·
Deepak
Desai - Sales
Manager
·
Kishore Badra - Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 14th
January 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1021953,
Trade Licence No. : 605283
(Expires 14/01/2012)
Chamber Member No. : 128127
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Laila Abdullah Fardan Ali 51%
·
Vijay
Behobat Bhai Desai 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery, rough and loose diamonds, pearls and precious stones, as well as watches, crystal products, and
giftware.
Import
Countries: Europe and
Operating Trend: Steady
Subject has a
workforce of 4 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
10,200,000 UAE Dh 11,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Vijay Behobat Bhai Desai, Managing Director
BANKERS
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Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
company is deemed 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.47.47 |
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1 |
Rs.74.96 |
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Euro |
1 |
Rs.65.79 |
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.