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Report No. : |
325206 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
TARADIAM MIDDLE
EAST DMCC |
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|
|
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Registered Office : |
Unit No. Almas – 11-C, Almas Tower, Plot No. LT-2, Jumeirah Lakes Towers, PO Box No.: 54432, Dubai |
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|
|
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
13.12.2012 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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LINE OF BUSINESS : |
SUBJECT IS ENGAGED IN THE IMPORT
AND DISTRIBUTION OF DIAMONDS, JEWELLERY AND OTHER PRECIOUS STONES. |
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|
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
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 : TARADIAM
MIDDLE EAST DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date : 13th
December 2012
DMCC Number : 0204
Trade Licence
Number : 32653
Issued Capital : UAE Dh
50,000
Paid up Capital : UAE Dh 50,000
Total Workforce : 3
Activities :
Distributors of diamonds, jewellery and other precious stones.
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Chirag Dohsi,
General Manager
TARADIAM MIDDLE EAST DMCC
Building : Unit No. Almas – 11-C, Almas
Tower, Plot No. LT-2
Area : Jumeirah Lakes Towers
PO Box : 54432
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3639655
Facsimile : (971-4) 3626155
Mobile : (971-55) 5704038
Email : info@taradiam.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Position
·
Bhavin
Mehta Managing
Director
·
Chirag
Dohsi General
Manager
Date of Establishment: 13th December 2012
Legal Form :
Limited Liability Company
DMCC No. : 0204
Trade Licence No. : 32653
(Expires 12/12/2017)
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
·
Bhavin
Mehta 100%
·
Taradiam
Middle East FZE
Al Quds Street
Dubai Airport Free Zone, West Site, 3W/122-341
PO Box: 54432
Dubai
Tel: (971-4) 2996781 / 2267404
Fax: (971-4) 2997335 / 2267426
Activities: Engaged in the import and distribution of
diamonds, jewellery and other precious stones.
Import
Countries: India and Hong
Kong.
International
Suppliers:
·
Hari
Krishnan Export India
·
Kiran
Gems India
·
Rosy
Blue India
·
ABN
Amro Hong Kong
Subject has a
workforce of 3 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.
·
ABN
Amro Bank
Hong Kong
Account No. 307719600003893
Unknown
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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.