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Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALYAN JEWELLERS LLC |
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|
|
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Registered Office : |
Al Nouf Tower, 12th
Floor, Suite No. 1201 & 1204, Plot No. 126 & 129, Port Saeed, Deira,
P O Box: 113498, Dubai |
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|
|
Country : |
United Arab Emirates |
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Date of Incorporation : |
24.09.2013 |
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|
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Com. Reg. No.: |
1122380, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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|
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Line of Business : |
Import and Distribution
of Jewellery, Diamonds and Other Precious Stones. |
|
|
|
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No. of Employees : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
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Status : |
New Company |
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|
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Payment Behaviour : |
Unknown |
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|
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 : KALYAN JEWELLERS
LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 24th
September 2013
Commercial
Registration Number : 1122380,
Dubai
Trade Licence
Number : 695671
Chamber Membership
Number : 223565
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 7
Activities :
Distributors of jewellery, diamonds and other precious stones
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
KALYAN JEWELLERS
LLC
Building : Al Nouf Tower, 12th
Floor, Suite No. 1201 & 1204, Plot No. 126 & 129
Area : Port Saeed, Deira
PO Box : 113498
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3790058
Facsimile : (971-4) 3790059
Mobile : (971-50) 8966581 / (971-55)
9290326
Email : rajesh.kaylanarman@kalyanjewellers.net
/ venkatraman@kalyanjewellers.net
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
T S Kalyan Raman - Managing
Director
·
T K
Sita Raman - Director
·
T K
Ramesh - Director
·
Mohamed
Hamza Mustafa Mohamed Ahli Emirati Director
·
Koshik
Venkat Raman - Operations
Manager
Date of Establishment : 24th
September 2013
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1122380,
Dubai
Trade Licence No. : 695671
Chamber Member No. : 223565
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Mohamed
Hamza Mustafa Mohamed Ahli 51%
·
Kalyan
Jewellers FZE 49%
Dubai Airport Free Zone, Plot No. 5EA
723
Dubai
Tel: (971-4) 3708020
Fax: (971-4) 3708040
Activities: Engaged in the import and distribution of
jewellery, diamonds and other precious stones.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 7 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.