MIRA INFORM REPORT
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Report No. : |
331939 |
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Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
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Name : |
DIALUX DIAMONDS
DMCC |
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Registered Office : |
47-B Al Mas Tower, Jumeirah Lakes Towers, P O Box: 340553, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
05.06.2013 |
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Legal Form : |
Limited Liability Company |
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LINE OF BUSINESS : |
IMPORT AND DISTRIBUTION OF
DIAMONDS AND JEWELLERY. |
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No. of Employees : |
1 |
RATING & COMMENTS
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab Emirates. |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
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, 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 diversification and creating more opportunities for nationals through
improved education and increased private sector employment.
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Source
: CIA |
SUMMARY
Company Name : DIALUX
DIAMONDS DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date : 5th
June 2013
DMCC Number : 4160
Trade Licence
Number : 33133
Issued Capital : UAE Dh
60,000
Paid up Capital : UAE Dh
60,000
Total Workforce : 1
Activities :
Distributors of diamonds and jewellery
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Bomik Gerish
Patel, Managing Director
COMPANY
NAME
DIALUX DIAMONDS
DMCC
ADDRESS
Registered & Physical
Address
Location : 47-B Al Mas Tower, Jumeirah Lakes Towers
PO Box : 340553
Town : Dubai
Country : United Arab Emirates
Mobile : (971-55) 4346260 / (91-97)
12934028
Email : dyausgems@gmail.com / vipul.dialux@gmail.com
Please note that
subject’s previous address was, Unit No. 30-01-1211, Floor No. 1, Building No.
3, Plot No. 550-554, J & G, Dubai.
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
·
Bomik
Gerish Patel Indian Managing
Director
LEGAL
FORM & OWNERS
Date of Establishment : 5th
June 2013
Legal Form :
Limited Liability Company
DMCC No. : 4160
Trade Licence No. : 33133
(Expires 15/06/2016)
Issued Capital : UAE Dh 60,000
Paid up Capital : UAE Dh 60,000
Name of
Shareholder (s) Percentage
·
Bomik
Gerish Patel 100%
OPERATIONS
Activities: Engaged in the import and distribution of
diamonds and jewellery.
Import
Countries: Europe and the Far
East.
International Suppliers:
·
Shree Ram Krishna Export India
·
HRP Diamonds Belgium
·
Diarough DMCC Dubai
Subject has a
workforce of 1 employee.
FINANCIAL
DATA
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
PAYMENT
HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL
COMMENTS
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.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.