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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Mohamed Mahmood Al Dalal Building, Gold Souq, Al Daghaya,
Deira 11587 & 65154 |
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Country : |
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Date of Incorporation : |
26.03.2005 |
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Com. Reg. No.: |
73037 |
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Legal Form : |
Limited Liability Company |
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LINE OF BUSINESS : |
ENGAGED IN THE WHOLESALE AND RETAIL OF PEARLS AND PRECIOUS
STONES |
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No of Employees : |
14 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UAE ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic diversification
have reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the country has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source
: CIA |
Company Name : KAARVI GEMS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 26th March 2005
Commercial Registration Number : 73037,
Trade Licence Number : 567362
Chamber Membership Number : 95842
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 14
Activities : Wholesale and retail of pearls and precious stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
KAARVI GEMS LLC
Building : Mohamed Mahmood Al Dalal Building
Area : Gold Souq, Al Daghaya, Deira
PO Box : 11587 & 65154
Town :
Country :
Telephone : (971-4) 2353054 / 2255774
Facsimile : (971-4) 2353051 / 2255330
Email : vamadiam@eim.ae
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Geeta
Dhorda Rajan Nitin Chandra Indian Managing Director
·
Fardan
Abdullah Fardan Al Fardan Emirati Director
Date of Establishment : 26th
March 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 73037,
Trade Licence No. : 567362
Chamber Member No. : 95842
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Fardan
Abdullah Fardan Al Fardan 51%
·
Geeta
Dhorda Rajan Nitin Chandra 49%
Activities: Engaged in the wholesale and retail of
pearls and precious stones.
Import
Countries:
Subject has a
workforce of 14 employees.
Companies
registered in
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
Acc No. AE57 0440 0001 0169
7231 401
No complaints
regarding subject’s payments have been reported.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.86 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
|
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 |
-- |
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.