MIRA
INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
PURE
PERFECT LTD |
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Registered Office : |
Saif
Zone, Plot Y1/79, P. O. Box 120227, Sharjah |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2006 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import
and distribution of jewellery, precious stones and metals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
50,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : PURE PERFECT LTD
Doing Business As : RAJ IMPEX
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2006
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Line of Business : Distributors of jewellery, precious stones and metals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PURE
PERFECT LTD
DOING BUSINESS AS
RAJ
IMPEX
ADDRESS
Registered & Physical
Address
Location : Saif Zone, Plot Y1/79
PO Box : 120227
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5574784
Facsimile : (971-6) 5574785
Mobile : (971-50) 8075362
Email : nizaronly1@rediffmail.com
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Saif Zone Area of Sharjah.
KEY PRINCIPALS
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Nazir
Ali Shamsuddine Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
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Nazir
Ali Shamsuddine 100%
Note to the Legal Form
A Free Zone Establishment (FZE) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51% equity in the capital.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of jewellery, precious stones and metals.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
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Emirates
Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 5733300
Fax : (971-6) 5730077
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Sharjah did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 50,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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