MIRA INFORM REPORT
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Report Date : |
21.09.2011 |
IDENTIFICATION DETAILS
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Name : |
GLOBEX JEWELS LLC |
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Registered Office : |
Royal Diamond
Centre, 1st Floor, Office No. 102, Gold Souq, Deira, P O Box 1657,
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 : |
12.11.2006 |
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Com. Reg. No.: |
1001499, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of loose diamonds, jewellery, precious stones, watches and gift items |
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
|
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 : GLOBEX JEWELS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 12th November 2006
Commercial Registration Number : 1001499, Dubai
Trade Licence Number : 587873
Chamber Membership Number : 112583
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and distribution of loose diamonds, jewellery, precious stones,
watches and gift items
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GLOBEX JEWELS LLC
company ADDRESS
Registered &
Physical Address
Building : Royal Diamond Centre, 1st
Floor, Office No. 102
Area : Gold Souq, Deira
PO Box : 1657
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2269808
Facsimile : (971-4) 2269858
Mobile : (971-50) 6543002
Email : globex@hotmail.com / globexjewels@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
·
Antony D’ Souza Indian Managing
Director
·
Hamda
Fardan Abdullah Emirati Director
·
Amit Shah - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th
November 2006
History :
Subject was originally established in 2006 between the following shareholders:
· Anoj Harshad Shah
· Hamda Fardan Abdullah
However in late 2010, Mr Anoj Harshad Shah
withdrew from the company after selling his stake to a new shareholder, namely Antony D’Souza.
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1001499,
Dubai
Trade Licence No. : 587873
Chamber Member No. : 112583
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Hamda
Fardan Abdullah 51%
·
Antony D’ Souza 49%
OPERATIONS
Activities: Engaged in the import and distribution of
loose diamonds, jewellery, precious stones, watches and gift
items.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a
workforce of 4 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
10,800,000 UAE Dh
11,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
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 |
|
US Dollar |
1 |
Rs.48.22 |
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UK Pound |
1 |
Rs.75.63 |
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Euro |
1 |
Rs.65.65 |
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.