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Report No. : |
355802 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
EXQUISITE DIAMONDS LLC |
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Registered Office : |
Al Badoor Diamonds Building, Gold Souq, Unit No. M-1, 113-593, Al
Dhagaya, Deira, 89373, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
17.01.2008 |
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Legal Form : |
Limited Liability Company - LLC |
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LINE OF BUSINESS : |
SUBJECT
ENGAGED AS TRADERS OF JEWELLERY, DIAMONDS AND PRECIOUS STONES. |
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No. of Employee : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis of 2008, 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 and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that was refinanced in March 2014. 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 economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
EXQUISITE DIAMONDS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th January 2008
Commercial Registration Number : 1021925, Dubai
Trade Licence Number : 605256
Chamber Membership Number : 128188
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Activities : Traders of jewellery, diamonds and precious stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
EXQUISITE DIAMONDS LLC
Building :
Al Badoor Diamonds Building, Gold Souq, Unit No. M-1, 113-593
Area : Al Dhagaya,
Deira
PO Box : 89373
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2342523
Facsimile : (971-4)
2342524
Mobile : (971-50) 8853163 / (971-55) 656210
Email : dubai@exquisitediam.com
Please note that subject’s previous address was, Gold Souq, Plot No.
M-1, 113-319, Unit No. 201, Al Dhagaya, Deira, Dubai.
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Bharat Kumar
Italiya Indian Managing Director
· Darsukh Patel Indian Director
· Khalid Mohamed
Abdullah Khaisro Emirati Director
Date of
Establishment : 17th
January 2008
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1021925, Dubai
Trade Licence No. : 605256 (Expires
12/01/2016)
Chamber Member No. : 128188
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Khalid Mohamed
Abdullah Khaisro 51%
· Bharat Kumar
Italiya ]
] 49%
· Darsukh Patel ]
Activities: Engaged as traders of jewellery, diamonds and precious stones.
Import Countries: India and Belgium
International
Suppliers:
·
Shaini Diam Belgium
·
Balar Gems India
Subject has a workforce of 2 employees.
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
DH |
1 |
Rs.17.97 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared by
: |
TRU |
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 |
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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.