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Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
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Name : |
DAZZLING DIAMONDS FZCO |
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Registered Office : |
Unit No. 117B,
Gold And |
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Country : |
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Date of Incorporation : |
02.06.2008 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Manufacturers of
diamond jewellery. |
RATING & COMMENTS
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
Dazzling Diamonds
FZCO
Area : Unit No. 117B, Gold And
Zone
P.O.Box No.: 3885
Town :
Country :
Telephone : (971 4) 323 6073 / Mobile (971 50) 739 7996
Fax : (971 4) 323 6074
E-Mail : nileshdhakan@yahoo.com
Name Position
1. Nilesh Bahaskar
Dhakan Managing Director
2. Vijshnu
Bariar Accounts Manager
Total Employees :
15
No complaints have
been heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts.
Trade risk assessment:
NAME : STANDARD CHARTERED BANK
Branch : Jebel Ali Branch
P.O. Box : 16920
Town :
Telephone: (971 4)
881 6600
Fax : (971 4) 881 6670
The company has
also an account with:
RAK Bank
Sultan Business Centre
Telephone: (971 4) 224 8000
Fax : (971 4) 337 0342 / 337
0342
Private companies
in
Sales
turnover : Dh 1,200,000 - 2009 – exact
: Dh 1,800,000 – 2010 - exact
Net Profit : Dh
350,000 – 2009 – exact
Financial year
ends 31 December.
Date Started : 2
June 2008
Trade Licence No.
: 107173 (expiry date: 1 June 2011)
Authorised Capital
: Dh 100,000
Paid-Up Capital :
Dh 100,000
Free Zone Company
* (limited liability company) with the following sole shareholder:
Nilesh Bahaskar Dhakan 100%
(Indian national)
* The
Gold and Diamond Park (GDP) officially opened on the 29th of may 2001, with a
mission to encourage investment and promote trade and retain in the gold and diamond
sectors in the UAE. Investors can setup free zone companies (FZCO), free Zone
Establishment (FZE) and branch offices in exactly the same manner as Jebel Ali
Free Zone based companies are set up, the application procedures and
requirements are exactly the same. The business can be proprietorship or
partnership. The capital requirement of the business is laid down by the Jafza
authority which is Dhs 100,000(US$ 27,218) for a sole proprietorship and Dhs
50,000 (US$13,609) for each partner in the partnership.
Affiliated companies of Dazzling Diamonds FZCO:
Associates
Al Ruwais Jewellery
Telephone : (971 4) 225 3419
Fax : (971 4) 226 4676
The Company is
involved in the following activities:
Manufacturers of
diamond jewellery.
Subject neither
imports nor exports any products (requirements) at present time.
The Company has
the following facilities:
Rented office
premises and a manufacturing unit located at the heading address.
Interviewed:
Vijshnu Bariar (Accounts Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.74 |
|
|
1 |
Rs.92.05 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
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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 |
|
<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.