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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SU-RAJ INTERGOLD DMCC |
|
|
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Registered Office : |
Gold Centre
Building, Zone 5, 2nd Floor, Suite No. 56, Old Gold Souk, Deira
172157 Dubai |
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Country : |
United Arab Emirates |
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.04.2006 |
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Legal Form : |
Free Zone Company – FZ LLC |
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Line of Business : |
Engaged in the wholesale
and retail of jewellery, diamonds and other precious stones. |
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No of Employees : |
12 |
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 |
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|
|
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Payment Behaviour : |
Regular |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED ARAB
EMIRATES - 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 Washington and in November 2004
agreed to undertake negotiations toward a Free Trade Agreement with the US;
however, those talks have not moved forward. The country's Free Trade Zones -
offering 100% foreign ownership and zero taxes - are helping to attract foreign
investors. The global financial crisis, tight international credit, and
deflated asset prices constricted the economy in 2009. UAE authorities tried to
blunt the crisis by increasing spending and boosting liquidity in the banking
sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed
real estate prices. Dubai lacked sufficient cash to meet its debt obligations,
prompting global concern about its solvency. The UAE Central Bank and Abu
Dhabi-based banks bought the largest shares. In December 2009 Dubai received an
additional $10 billion loan from the emirate of Abu Dhabi. Dependence on oil, a
large expatriate workforce, and growing inflation pressures are significant
long-term challenges. The UAE's strategic plan for the next few years focuses
on diversification and creating more opportunities for nationals through
improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
SU-RAJ INTERGOLD DMCC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Company – FZ LLC
Registration Date :
9th April 2006
Trade Licence Number :
30209
Chamber Membership Number :
106390
Issued Capital :
UAE Dh 200,000
Paid up Capital :
UAE Dh 200,000
Total Workforce :
12
Activities :
Wholesale and retail of jewellery, diamonds and other precious stones.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Jakani Maneyar, Finance Manager
SU-RAJ INTERGOLD DMCC
Building : Gold Centre
Building, Zone 5, 2nd Floor, Suite No. 56
Area : Old Gold
Souk, Deira
PO Box : 172157
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2291001
Facsimile : (971-4)
2351004
Mobile : (971-50)
2013532 / 4231001
Email : rahul@su-rajintergold.com / info@su-rajintergold.com / kapil@su-rajintergold.com
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Dubai.
Name Nationality Position
·
Rajan Kishorimal Khimawat Indian Managing Director
·
Rahul Kishorimal Khimawat Indian Director
·
Mehul Gandhi - Director
·
Manvir Singh - Sales
Manager
·
Kapiel Jain - Commercial
Manager
·
Jakani Maneyar - Finance
Manager
Date of
Establishment : 9th
April 2006
Legal Form : Free Zone Company
– FZ LLC
Trade Licence No. : 30209
Chamber Member No. : 106390
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
·
Rajan Kishorimal Khimawat 100%
·
Su-Raj Intergold LLC
Dubai
Activities: Engaged in the wholesale and retail of jewellery, diamonds and other
precious stones.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 12 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE
Dh 150,000,000 UAE Dh
154,300,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Jakani Maneyar,
Finance Manager
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Acc No.
0492524563
No complaints regarding subject’s payments have been reported.
Established in 2006, subject is involved in the import and distribution
of jewellery, diamonds and other precious stones.
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. 61.95 |
|
|
1 |
Rs. 104.02 |
|
Euro |
1 |
Rs. 84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
-- |
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.