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MIRA INFORM REPORT
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Report No. : |
495682 |
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Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AJB DIAMONDS LLC |
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Registered Office : |
Gold Souq Building No. 3, Office No. 201, Gold Souq, Deira, PO Box
126233, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.12.2011 |
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Com. Reg. No.: |
1085897, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject engaged as traders of jewellery,
diamonds and other precious stones. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 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 2008-09, 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 Government that was refinanced
in March 2014.
The UAE’s dependence on oil is a significant long-term challenge. Low
oil prices have prompted the UAE to cut expenditures, including on some social
programs, but the UAE has sufficient assets in its sovereign investment funds
to cover its deficits. The government reduced fuel subsidies in August 2015,
and has announced plans to introduce excise and value-added taxes by January 1,
2018. The UAE's strategic plan for the next few years focuses on economic
diversification, promoting the UAE as a global trade and tourism hub,
developing industry, and creating more job opportunities for nationals through
improved education and increased private sector employment.
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Source
: CIA |
SUMMARY
Company Name :
AJB DIAMONDS LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
1st December 2011
Commercial Registration Number :
1085897, Dubai
Trade Licence Number :
662040
Chamber Membership Number :
199040
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
3
Activities :
Traders of jewellery, diamonds and other precious stones
Financial Condition :
Undetermined
Payments :
Unknown
COMPANY
NAME
AJB DIAMONDS LLC
ADDRESS
Registered &
Physical Address
Building : Gold Souq
Building No. 3, Office No. 201
Area : Gold Souq,
Deira
PO Box :
126233
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2342069
Facsimile : (971-4) 2342069
Mobile : (971-55)
4099316 / (971-50) 2449425 / 8403349
Email : info@abdsfze.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 Position
Mota Mansook Sales
Executive
LEGAL
FORM & OWNERS
Date of Establishment : 1st
December 2011
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 1085897, Dubai
Trade Licence No. : 662040 (Expires 28/11/2018)
Chamber Member No. : 199040
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s)
Local informants reported that the subject is now owned by an Emirati
national who refused to divulge his name without knowing who was enquiring
about his company. The Dubai Chamber of Commerce will also not divulge the name
of the subject’s owners. The subject was previously owned by, Mohamed Ali Saeed Abdullah Alfalasi (51%) and Atit Deepkumar Desai and Jainal Bakul Ramani who owned the remaining 49%. If you are able to supply
the name of the enquiring company we may be able to find out the current owners
name.
AFFILIATED
COMPANIES
ABDS ME FZE
Hamriyah Free Zone
Sharjah
Arjaan Trading FZE
Sharjah
OPERATIONS
Activities: Engaged as traders of jewellery, diamonds and
other precious stones.
Import Countries: Europe and the Far East.
Subject has a workforce of 3 employees.
FINANCIAL
DATA
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.
BANKERS
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
PAYMENT
HISTORY
Unknown
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.23 |
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1 |
INR 89.71 |
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Euro |
1 |
INR 79.50 |
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UAE Dh |
1 |
INR 17.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.