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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

483739

Report Date :

05.01.2018

 

IDENTIFICATION DETAILS

 

Name :

OPTIMA DIAMOND DMCC

 

 

Registered Office :

Office No. 46C & D1, Almas Tower, Plot No: JLT-PH1-A0, Jumeirah Lakes Towers, 340065, Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

29.07.2016

 

 

Com. Reg. No.:

64269

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in the import and distribution of diamonds, jewellery and precious metals

 

 

No. of Employees :

3

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

United Arab Emirates

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

ECONOMIC OVERVIEW

 

SUMMARY

 

Company Name                                    : OPTIMA DIAMOND DMCC

Country of Origin                                   : Dubai, United Arab Emirates

Legal Form                                           : Limited Liability Company

Registration Date                                  : 29th July 2016

Commercial Registration Number           : 64269

Trade Licence Number                           : 218123

Issued Capital                                       : UAE Dh 100,000

Paid up Capital                                     : UAE Dh 100,000

Total Workforce                                                : 3

Activities                                               : Distributors of diamonds, jewellery and precious metals

Financial Condition                                : Fair

Payments                                             : Regular

Person Interviewed                                : Asha N C Shah, Managing Director

 

 

COMPANY NAME

 

 OPTIMA DIAMOND DMCC

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Office No. 46C & D1, Almas Tower, Plot No: JLT-PH1-A0, Jumeirah Lakes Towers

 

PO Box                        : 340065

 

Town                : Dubai

Country : United Arab Emirates

 

Telephone         : (971-4) 3688858

Facsimile          : (971-4) 3688860

Email                : admin@optimadiam.com

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Asha N C Shah                                 Indian                                       Managing Director

 

·       Noohu Sahid                                        -                                           Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th July 2016

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 64269

 

Trade Licence No.        : 218123

 

Issued Capital             : UAE Dh 100,000

 

Paid up Capital            : UAE Dh 100,000

 

Name of Shareholder (s)                              Percentage

 

·       Asha N C Shah                                             100%

 

 

AFFILIATED COMPANIES

 

·       Super Gems DMCC

Office No. 46C & D1, Almas Tower, Plot No: JLT-PH1-A0, Jumeirah Lakes Towers

PO Box: 340065

Dubai

Tel: (971-4) 3688858

Fax: (971-4) 3688860

CR No. 77688

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of diamonds, jewellery and precious metals.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 3 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                            Year Ending 31/12/17:

 

Total sales                                            UAE Dh 11,175,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Dubai

Baniyas Street

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

 

 

PAYMENT HISTORY

 

Regular

 

GENERAL COMMENTS

 

The subject and its shareholders/owners have been searched in the following databases; Office of Foreign Assets Control (OFAC), United Nations Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse could be found on the exact names listed within the report.

 

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

INR 63.39

UK Pound

1

INR 85.74

Euro

1

INR 76.25

 

1

INR

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

 

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.