MIRA INFORM REPORT

 

 

 

Report Date :

02.08.2013

 

IDENTIFICATION DETAILS

 

Name :

BIN KARAM JEWELLERY 

 

 

Registered Office :

Damas Building, 1st Floor, Deira, gold Souq, next to EYR Jewellery, P.O.Box No 51377, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

12.08.2007

 

 

Com. Reg. No.:

1014817

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Trading as importers and wholesalers of gold and diamond jewellery

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

No Complaints

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.

COmpany NAME & address

 

BIN KARAM JEWELLERY 

 

ADDRESS

 

Building             : Damas Building, 1st Floor

Area                 : Deira, gold Souq, next to EYR Jewellery

P.O.Box No.      : 51377

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971 4) 235 2604

Fax                   : (971 4) 235 2605

E-Mail               : mick700@msn.com

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                             Position

 

1. Yusuf Karam Ali Mohammed Bin Karam           General Manager / Owner

 

2. Vikram Jain                                                  Sales Manager

 

Total Employees : 3

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for LARGE amounts.

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     : RAK BANK

Branch   : Sultan Business Centre

P.O. Box : 1531

Town     : Dubai

Telephone: (971 4) 224 8000

Fax      : (971 4) 337 0342 / 337 0342

 

The company also has an account with :

 

HSBC Bank Middle East Limited

Al Souk Street

Bur Dubai

P.O. Box 66

Dubai

Telephone: (971) 6005 54722 (Toll Free)

Fax      : (971) 353 0384

 

 

FINANCIAL INFORMATION

 

Private companies in United Arab Emirates are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales turnover                : US DLRS 50,000,000 - 2009 – approx

 

Net Profit                       : not given but stated to be profitable

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 12 August 2007

 

History : The subject company was established in Dubai on 12 August  2007.

 

C.R. No. : 1014817

 

Chamber of Commerce Membership No.: 122741 (issue date: 13/08/2007)

 

Trade License No.: 599327 (expiry date: 11/08/2010)

 

Capital : not applicable

 

Proprietorship owned by Yusuf Karam Ali Mohammed Bin Karam (UAE national / Date of Birth: 12/07/1959)

 

Affiliated companies of the subject company :

 

Associates

 

Other affiliated companies of Yusuf Karam Ali Mohammed Bin Karam in Dubai :

 

1.  Alkhayal Aldhahabi Jewellery (L.L.C)

    Dubai

    Est: 08/01/1983

    Trade License No.: 203808

 

2.  Yousuf Karam Ali Trading (L.L.C)

    Dubai

    Est: 24/12/2002

    Trade License No.: 540563

 

3.  Noble Chemical Materials (L.L.C)

    Dubai

    Est: 07/12/2004

    Trade License No.: 563609

 

4.  Karam Advertising

    Dubai

    Est: 15/11/1994

    Trade License No.: 236309

 

5.  Carassi Advertising

    Dubai

    Est: 28/09/1992

    Trade License No.: 127064

 

6.  Mohamad Bahar Abuammar Trading(L.L.C)

    Dubai

    Est: 24/09/2008

    Trade License No.: 616864

 

7.  Yusuf Karam Trading Co (L.L.C)

    Dubai

    Est: 21/09/2002

    Trade License No.: 537769

 

8.  Raei Trading Co. (L.L.C.)

    Dubai

    Est: 16/08/1994

    Trade License No.: 235034

 

9.  Ming Wei Paperware & Packing Machinery

    Dubai

    Est: 02/08/1995

    Trade License No.: 238703

 

10. Caspian Emirates Trading (L.L.C)

    Dubai

    Est: 29/06/1994

    Trade License No.: 234828

 

11. Caspian Middle East (L.L.C.)

    24/06/1990

    Trade License No.: 223197

 

12. A.M.P. Marketing Management

    Dubai

    Est: 04/06/2002

    Trade License No.: 534698

 

13. S.C.G Jewellers (L.L.C)

    Dubai

    Est: 23/05/2006

    Trade License No.: 581670

 

14. Pulikkal Ali A/C, Refrigerators & Electrical Works Repairing

    Dubai

    Est: 08/09/1976

    Trade License No.: 102012

 

15. Desert Rose Hotel Apartment

    Dubai

    Est: 21/04/2002

    Trade License No.: 533469

 

16. Geoconsult Soil Investigations

    Dubai

    Est: 08/04/1992

    Trade License No.: 124162

    Agent

 

17. Thaver Trading Co (L.L.C)

    Dubai

    Est: 26/03/2003

    Trade License No.: 543496

 

18. Purpleline Trading Co. (L.L.C.)

    Dubai

    Est: 20/03/2002

    Trade License No.: 532680

 

19. Maurice Baguley Consultancy

    Dubai

    Est: 28/02/2008

    Trade License No.: 607507

    Agent

 

20. R M P Infotec General Trading (Llc)

    Dubai

    Est: 18/02/2008

    Trade License No.: 606936

 

21. Orient Spirit Airconditioning Trading

    Dubai

    Est: 18/01/2003

    Trade License No.: 541283

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and wholesalers of gold and diamond jewellery.

 

Imports from India, Hong Kong and Belgium.

 

Exports to India.

 

 

FACILITIES

 

The Company has the following facilities :

 

Office premises and storage facilities located at the heading address.

 

 

SPECIAL NOTE

 

Interviewed: Vikram Jain (Sales Manager)

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.74

UK Pound

1

Rs.92.05

Euro

1

Rs.80.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.