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Report No. : |
325649 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
JAWHARAT JEWELS
LLC |
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|
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Registered Office : |
Gold Land
Building, Suite M-17, Deira, P O Box: 14080, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
04.05.2011 |
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Com. Reg. No.: |
1075645, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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LINE OF BUSINESS : |
IMPORT AND DISTRIBUTION OF
JEWELLERY, PEARLS, PRECIOUS STONES AND METALS, GIFTS AND WATCHES. |
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|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
|
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 : JAWHARAT
JEWELS LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 4th
May 2011
Commercial Registration
Number : 1075645, Dubai
Trade Licence
Number : 653427
Chamber Membership
Number : 192908
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities :
Distributors of jewellery, pearls, precious stones and metals, gifts and
watches
Financial Condition : Undetermined
Payments :
Unknown
JAWHARAT JEWELS LLC
Building : Gold Land Building, Suite M-17
Area : Deira
PO Box : 14080
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2202745
Facsimile : (971-4) 2202746
Mobile : (971-50) 4526789
Email : jawharat2014@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Kushal
Prabhul Javeri Indian Managing
Director
·
Devang Resmikant
Javeri Indian Director
·
Jenan
Fardan Abdul Fardan Alfardan Emirati Director
Date of Establishment : 4th
May 2011
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1075645,
Dubai
Trade Licence No. : 653427
(Expires 03/05/2016)
Chamber Member No. : 192908
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Jenan Fardan
Abdul Fardan Alfardan 51%
·
Kushal
Prabhul Javeri 25%
·
Devang
Resmikant Javeri 24%
Activities: Engaged
in the import and distribution of jewellery, pearls, precious stones and
metals, gifts and watches.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 5 employees.
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.
·
National
Bank of Ras Al Khaimah
PO Box: 1531
Tel: (971-4) 2226291
Fax: (971-4) 2281312
Account No. 0025417832062
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.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.