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Report No. : |
324665 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
DIASQUA
INTERNATIONAL DMCC |
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Registered Office : |
21 H Al |
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Country : |
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Date of Incorporation : |
14.07.2008 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the
import and distribution of jewellery and diamonds |
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No. of Employee : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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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, 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.
|
Source
: CIA |
Company Name : DIASQUA INTERNATIONAL
DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date : 14th
July 2008
Trade Licence
Number : 9899
Chamber Membership
Number : 33974
Issued Capital : UAE Dh
50,000
Paid up Capital : UAE Dh
50,000
Total Workforce : 4
Activities :
Distributors of jewellery and diamonds.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bharat Bhavdiya, Commercial Manager
DIASQUA
INTERNATIONAL DMCC
Building : 21 H Al Mas Tower
Street : Sheikh Zayed Road
PO Box : 340563
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4289402
Facsimile : (971-4) 4289401
Mobile : (971-55) 9547307
Email : bharat@disaqua.net / diasquadmcc@gmail.com / dmcc@diasqua.net
Please note that
subject’s previous address was, 11-D, Almas Tower, Sheikh Zayed Road, Jumeirah
Lakes Towers, Dubai.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Position
· Romy Mehta Managing Director
· Bharat Bhavdiya Commercial Manager
· Ashish Kumar Mistry Finance Manager
· Jamal Sayed Boukhary Sales Manager
Date of Establishment : 14th
July 2008
Legal Form :
Limited Liability Company
Trade Licence No. : 9899
Chamber Member No. : 33974
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
·
Privyantu Holdings Ltd 100%
British Virgin Islands
·
Diasqua
Middle East LLC
PO Box: 57809
Dubai
Tel: (971-4) 2350197
Fax: (971-4) 2258224
Activities: Engaged in the import and distribution of
jewellery and diamonds.
Import
Countries: Europe and India.
International Suppliers:
·
Gutal Gems India
·
Asian Star Ltd India
·
A S Export India
·
Kiran Export Pvt Ltd India
Operating Trend: Steady
Subject has a
workforce of 4 employees.
Financial highlights
provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/03/14: Year
Ending 31/03/15:
Total Sales US$ 33,672,504 US$
55,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Bharat
Bhavdiya, Commercial Manager
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.