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Report No. : |
326498 |
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Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
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Name : |
APEX STAR
JEWELLERY LLC |
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|
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Registered Office : |
Al Shamsi Building (Metro Building), 2nd Floor, Office No. 206 Gold Souq, Deira 161320 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
24.04.2010 |
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Com. Reg. No.: |
1057711, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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LINE OF BUSINESS : |
SUBJECT
IS ENGAGED AS TRADERS OF JEWELLERY, DIAMONDS AND PRECIOUS
STONES. |
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|
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No. of Employee : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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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 – 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 |
|
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.
|
Source
: CIA |
Company Name : APEX STAR
JEWELLERY LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 24th
April 2010
Commercial Registration
Number : 1057711, Dubai
Trade Licence
Number : 637762
Chamber Membership
Number : 182177
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 4
Activities :
Traders of jewellery, diamonds and precious stones.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Manish Shah,
General Manager
APEX STAR JEWELLERY
LLC
Building : Al Shamsi Building (Metro
Building), 2nd Floor, Office No. 206
Area : Gold Souq, Deira
PO Box : 161320
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2255877
Facsimile : (971-4) 2255877 / 2258750
Mobile : (971-50) 1578644 / 8627354 /
(971-55) 5967066 / (971-56) 9417135
Email : apexstarjewellery@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
·
Saurabh
Pravinchandra Shah Indian Managing Director
·
Pratik
Vinod Dhakan Indian Director
·
Akshay Maniar Indian Director
·
Ali Salem Al Khader Emirati Director
·
Manish
Shah - General
Manager
Date of Establishment : 24th
April 2010
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1057711,
Dubai
Trade Licence No. : 637762
(Expires 11/04/2016)
Chamber Member No. : 182177
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ali Salem Al Khader 51%
·
Saurabh
Pravinchandra Shah ]
]
·
Pratik
Vinod Dhakan ]49%
]
·
Akshay Maniar ]
Activities: Engaged as traders of jewellery, diamonds
and precious stones.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 4 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.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel:
(971-4) 2222241
·
National
Bank of Ras Al Khaimah
PO Box: 1531
Tel: (971-4) 2226291
Fax: (971-4) 2281312
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.64.11 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
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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 |
|
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.