|
Report No. : |
346304 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RATAN SAJAN DIAMONDS DMCC |
|
|
|
|
Registered Office : |
Suite 307, 3rd Floor Royal Diamond Building Main Road Gold Souk, Deira
Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
05.02.2006 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
LINE OF BUSINESS : |
DISTRIBUTORS
OF POLISHED DIAMONDS AND PRECIOUS STONES |
|
|
|
|
No. of Employee : |
6 |
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 |
|
Payment Behaviour : |
Unknown |
|
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 |
|
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 of 2008, 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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
|
1) Name (s): |
||
|
Organization Official Name |
: |
RATAN SAJAN DIAMONDS DMCC |
|
|
||
|
2) Registered
Address: |
||
|
Address |
: |
Suite 307, 3rd Floor Royal Diamond
Building Main Road Gold Souk, Deira |
|
Town |
: |
Dubai |
|
Country |
: |
United Arab Emirates |
|
PO Box |
: |
171687 Dubai |
|
Phone (s) |
: |
(971-4) 2351909 |
|
Facsimile |
: |
(971-4) 2351979 |
|
Email |
: |
|
|
|
|
|
|
Mobile |
: |
(971-50) 6316287 |
|
|
|
(971-50) 6268094 |
|
|
|
(971-50) 5044143 |
|
|
||
|
3) Operational
Address & Contact Details: |
||
|
Address |
: |
Suite 307, 3rd Floor Royal Diamond
Building Main Road Gold Souk, Deira |
|
Town |
: |
Dubai |
|
Country |
: |
United Arab Emirates |
|
PO Box |
: |
171687 Dubai |
|
Phone (s) |
: |
(971-4) 2351909 |
|
Facsimile |
: |
(971-4) 2351979 |
|
Email |
: |
|
|
|
|
|
|
Mobile |
: |
(971-50) 6316287 |
|
|
|
(971-50) 6268094 |
|
|
|
(971-50) 5044143 |
|
Legal Form - Category |
: |
Limited Liability Company |
|
Date of Registration |
: |
5th February 2006 |
|
Trade License Number |
: |
30329 |
|
Operational Status |
: |
Normal |
|
Financial Condition |
: |
Undetermined |
|
Primary Business Activity |
: |
Distributors of polished diamonds and
precious stones |
|
Number of Employees |
: |
6 |
|
Capital |
: |
UAE Dh 100,000 |
|
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. |
|
1 |
Name |
Habib Bank Ltd |
|
|
Address |
Murshid Bazaar |
|
|
PO Box |
888 Dubai |
|
|
Tel |
(971-4) 2221281 |
|
|
Fax |
(971-4) 2284631 |
|
|
||
|
Sr.No |
Name of
Shareholders |
Nationality |
|
1 |
Rajmal Ratanlal Jain |
Indian |
|
2 |
Sanjeev Rajmal Ratanlal Jain |
Indian |
|
Sr.No |
Name |
Nationality |
Dsignation |
|
1 |
Rajmal Ratanlal Jain |
Indian |
Managing Director |
|
2 |
Sanjeev Rajmal Ratanlal Jain |
Indian |
Director |
|
3 |
Ramesh Jain |
n/a |
Sales Manager |
|
4 |
Sami Palani |
n/a |
Finance Manager |
|
5 |
Arun Kumar |
n/a |
Accountant |
|
Sr.No |
Country |
Activity |
|
1 |
Europe |
Import |
|
2 |
Far East |
Import |
|
Subject operates from a small suite of offices
that are rented and located in the Central Business Area of Dubai. |
|
Unknown |
|
Performance Defaults |
: |
No record found |
|
Payment Defaults |
: |
No record found |
|
Adverse Press Coverage |
: |
No record found |
|
Litigations |
: |
No record found |
|
Former Business Relationships |
: |
No record found |
|
Person
Interviewed : Arun Kumar, Accountant |
|
During the course of this investigation nothing
detrimental was uncovered regarding subject’s operating history. As such the
company is considered to be a fair trade risk. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.