MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
NIMPHY LIMITED |
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Formerly Known as : |
ZYUS ( |
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Registered Office : |
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Country : |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
C165838 |
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Legal Form : |
Private Limited Liability Company / International Business Company (IBC) |
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Line of Business : |
General Traders of Nondurable Goods |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Offshore Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NAME & ADDRESS
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Correct Registered Name: |
NIMPHY LIMITED |
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Address: |
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P. O. Box: |
21341 - 1506 |
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Telephone: |
+357-22677000 |
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Fax: |
+357-22670040 |
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Email: |
sarrilaw@spidernet.com.cy (Correspondence E-mail) |
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Web: |
www.sarris.com.cy (Correspondence Web-page) |
PAYMENT: Unknown
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COMMENT: |
Given the fact that no recent detailed financial statements were
released to us, we feel unable to express a safe and reliable opinion on
their creditability and payment records. |
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COMMERCIAL MORALITY: |
Unknown |
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FINANCIAL STRENGTH: |
Unknown |
LEGAL STATUS
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Legal Form: |
Private Limited Liability Company /
International Business Company (IBC) (offshore)
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Date of foundation: |
2005 |
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Registration number and city: |
C165838 |
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Registration date: |
23.09.2005 |
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Former registration name: |
ZYUS (CYPRUS) LIMITED, valid since: 23.09.2005, until: 19.01.2006 |
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Former company names: |
ZYUS ( |
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Registration status: 2005 - registered
company |
SHAREHOLDERS
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Full Name |
Personal ID |
Function |
Nationality |
EQUITY |
Address |
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SELESTA HOLDING CO LIMITED |
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Shareholder |
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100.00% |
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MANAGEMENT
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Full Name |
Personal ID |
Age |
Function |
Nationality |
Qualification |
Experience |
Address |
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Ms. Christina Sarri |
782678 |
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Secretary |
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Degree in Law |
Not Disclosed |
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Ms. Christina Minaidou |
895632 |
22 |
Director |
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N/A |
N/A |
32, Alexandrou Papadiamanti Street |
ACTIVITIES
General Traders
OPERATIONS:
SIC
5199 Nondurable Goods, NEC (except specialty advertising)
Territory: 100% International
According to the article of association, the company in question was
established in order to get involved with general trading activities. However,
this was not confirmed; of course the article makes provision of other
activities as well. This is an International Business Company.
Business Activities
General Trading
General Traders
Industry Classifications - NAICS
» Merchant Wholesalers, Durable Goods
» Merchant Wholesalers, Nondurable Goods
» Wholesale Trade Agents and Brokers
» Wholesale Trade Agents and Brokers
» Retail Trade
Detailed Description of Industry Classifications
Merchant Wholesalers, Durable Goods
NAICS # 423 | Industries in the Merchant Wholesalers, Durable Goods subsector
sell capital or durable goods to other businesses. Merchant wholesalers
generally take title to the goods that they sell; in other words, they buy and
sell goods on their own account. Durable goods are new or used items generally
with a normal life expectancy of three years or more. Durable goods merchant
wholesale trade establishments are engaged in wholesaling products, such as
motor vehicles, furniture, construction materials, machinery and equipment
(including household-type appliances), metals and minerals (except petroleum),
sporting goods, toys and hobby goods, recyclable materials, and parts.
Business-to-business electronic markets, agents, and brokers primarily engaged in
wholesaling durable goods, generally on a commission or fee basis, are
classified in Subsector 425, Wholesale Electronic Markets and Agents and
Brokers.
Merchant Wholesalers, Nondurable Goods
NAICS # 424 | Industries in the Merchant Wholesalers, Nondurable Goods
subsector sell nondurable goods to other businesses. Nondurable goods are items
generally with a normal life expectancy of less than three years. Nondurable
goods merchant wholesale trade establishments are engaged in wholesaling
products, such as paper and paper products, chemicals and chemical products,
drugs, textiles and textile products, apparel, footwear, groceries, farm
products, petroleum and petroleum products, alcoholic beverages, books,
magazines, newspapers, flowers and nursery stock, and tobacco products.
The detailed industries within the subsector are organized in the
classification structure based on the products sold.
Business to business electronic markets, agents, and brokers primarily engaged
in wholesaling nondurable goods, generally on a commission or fee basis, are
classified in Subsector 425, Wholesale Electronic Markets and Agents and
Brokers.
Wholesale Trade Agents and Brokers
NAICS # 42512 | This industry comprises wholesale trade agents and brokers
acting on behalf of buyers or sellers in the wholesale distribution of goods.
Agents and brokers do not take title to the goods being sold but rather receive
a commission or fee for their service. Agents and brokers for all durable and
nondurable goods are included in this industry. Establishments acting in the
capacity of agents or brokers that operate using the Internet or other
electronic means instead of a sales force are classified in Industry 425110,
Business to Business Electronic Markets.
Wholesale Trade
NAICS # 42 | The Sector as a Whole
The Wholesale Trade sector comprises establishments engaged in wholesaling
merchandise, generally without transformation, and rendering services
incidental to the sale of merchandise. The merchandise described in this sector
includes the outputs of agriculture, mining, manufacturing, and certain
information industries, such as publishing.
The wholesaling process is an intermediate step in the distribution of
merchandise. Wholesalers are organized to sell or arrange the purchase or sale
of (a) goods for resale (i.e., goods sold to other wholesalers or retailers),
(b) capital or durable nonconsumer goods, and (c) raw and intermediate
materials and supplies used in production.
Wholesalers sell merchandise to other businesses and normally operate from a
warehouse or office. These warehouses and offices are characterized by having
little or no display of merchandise. In addition, neither the design nor the
location of the premises is intended to solicit walk-in traffic. Wholesalers do
not normally use advertising directed to the general public. Customers are
generally reached initially via telephone, in-person marketing, or by
specialized advertising that may include Internet and other electronic means.
Follow-up orders are either vendor-initiated or client-initiated, generally
based on previous sales, and typically exhibit strong ties between sellers and
buyers. In fact, transactions are often conducted between wholesalers and
clients that have long-standing business relationships.
This sector comprises two main types of wholesalers: merchant wholesalers that
sell goods on their own account and business to business electronic markets,
agents, and brokers that arrange sales and purchases for others generally for a
commission or fee.
(1) Establishments that sell goods on their own account are known as wholesale
merchants, distributors, jobbers, drop shippers, and import/export merchants.
Also included as wholesale merchants are sales offices and sales branches (but
not retail stores) maintained by manufacturing, refining, or mining enterprises
apart from their plants or mines for the purpose of marketing their products.
Merchant wholesale establishments typically maintain their own warehouse, where
they receive and handle goods for their customers. Goods are generally sold
without transformation, but may include integral functions, such as sorting,
packaging, labeling, and other marketing services.
(2) Establishments arranging for the purchase or sale of goods owned by others
or purchasing goods, generally on a commission basis are known as business to
business electronic markets, agents and brokers, commission merchants,
import/export agents and brokers, auction companies, and manufacturers'
representatives. These establishments operate from offices and generally do not
own or handle the goods they sell.
Some wholesale establishments may be connected with a single manufacturer and
promote and sell the particular manufacturers' products to a wide range of
other wholesalers or retailers. Other wholesalers may be connected to a retail
chain, or limited number of retail chains, and only provide a variety of
products needed by that particular retail operation(s). These wholesalers may
obtain the products from a wide range of manufacturers. Still other wholesalers
may not take title to the goods, but act as agents and brokers for a
commission.
Although, in general, wholesaling normally denotes sales in large volumes,
durable nonconsumer goods may be sold in single units. Sales of capital or
durable nonconsumer goods used in the production of goods and services, such as
farm machinery, medium and heavy duty trucks, and industrial machinery, are
always included in wholesale trade.
Retail Trade
NAICS # 44 | The Sector as a Whole
The Retail Trade sector comprises establishments engaged in retailing
merchandise, generally without transformation, and rendering services
incidental to the sale of merchandise.
The retailing process is the final step in the distribution of merchandise;
retailers are, therefore, organized to sell merchandise in small quantities to
the general public. This sector comprises two main types of retailers: store
and nonstore retailers.
1. Store retailers operate fixed point-of-sale locations, located and designed
to attract a high volume of walk-in customers. In general, retail stores have
extensive displays of merchandise and use mass-media advertising to attract
customers. They typically sell merchandise to the general public for personal
or household consumption, but some also serve business and institutional
clients. These include establishments, such as office supply stores, computer
and software stores, building materials dealers, plumbing supply stores, and
electrical supply stores. Catalog showrooms, gasoline services stations,
automotive dealers, and mobile home dealers are treated as store retailers.
In addition to retailing merchandise, some types of store retailers are also
engaged in the provision of after-sales services, such as repair and
installation. For example, new automobile dealers, electronic and appliance
stores, and musical instrument and supply stores often provide repair services.
As a general rule, establishments engaged in retailing merchandise and
providing after-sales services are classified in this sector.
The first eleven subsectors of retail trade are store retailers. The
establishments are grouped into industries and industry groups typically based
on one or more of the following criteria:
(a) The merchandise line or lines carried by the store; for example, specialty
stores are distinguished from general-line stores.
(b) The usual trade designation of the establishments. This criterion applies
in cases where a store type is well recognized by the industry and the public,
but difficult to define strictly in terms of commodity lines carried; for
example, pharmacies, hardware stores, and department stores.
(c) Capital requirements in terms of display equipment; for example, food
stores have equipment requirements not found in other retail industries.
(d) Human resource requirements in terms of expertise; for example, the staff
of an automobile dealer requires knowledge in financing, registering, and
licensing issues that are not necessary in other retail industries.
2. Nonstore retailers, like store retailers, are organized to serve the general
public, but their retailing methods differ. The establishments of this
subsector reach customers and market merchandise with methods, such as the
broadcasting of "infomercials," the broadcasting and publishing of
direct-response advertising, the publishing of paper and electronic catalogs,
door-to-door solicitation, in-home demonstration, selling from portable stalls
(street vendors, except food), and distribution through vending machines. Establishments
engaged in the direct sale (nonstore) of products, such as home heating oil
dealers and home delivery newspaper routes are included here.
The buying of goods for resale is a characteristic of retail trade
establishments that particularly distinguishes them from establishments in the
agriculture, manufacturing, and construction industries. For example, farms
that sell their products at or from the point of production are not classified
in retail, but rather in agriculture. Similarly, establishments that both
manufacture and sell their products to the general public are not classified in
retail, but rather in manufacturing. However, establishments that engage in
processing activities incidental to retailing are classified in retail. This
includes establishments, such as optical goods stores that do in-store grinding
of lenses, and meat and seafood markets.
Wholesalers also engage in the buying of goods for resale, but they are not
usually organized to serve the general public. They typically operate from a
warehouse or office and neither the design nor the location of these premises
is intended to solicit a high volume of walk-in traffic. Wholesalers supply
institutional, industrial, wholesale, and retail clients; their operations are,
therefore, generally organized to purchase, sell, and deliver merchandise in
larger quantities. However, dealers of durable nonconsumer goods, such as farm
machinery and heavy duty trucks, are included in wholesale trade even if they
often sell these products in single units.
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MOTOR VEHICLES: |
Non Retrievable. |
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IMPORTS: |
Non Retrievable. |
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EXPORTS: |
Non Retrievable. |
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AGENCIES: |
Non Retrievable. |
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TRADE SUPPLIERS: |
Non Retrievable. |
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NUMBER OF
EMPLOYEES: |
2 |
DESCRIPTION OF PREMISES
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Address: |
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Type of premises: |
Premises |
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Type of ownership: |
shared |
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HEADQUARTERS: |
The company does not maintain offices of its own in |
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BRANCHES: |
Non Retrievable. |
RELATED
COMPANIES
Parent Company
SELESTA HOLDING CO LIMITED ,
"Selesta Holdings Co Limited" - This is stated to be the Parent
Company of the subject. However, we have the impression that this is an
in-house firm which is used from the subject correspondence - legal firm
Polakis Sarris & Co for the registration of International Business
Companies.
BANKERS
Non Retrievable.
PRESS
30.09.2008, No
press / media available at present.
SHARE CAPITAL
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CHARGES
None in current years
GENERAL COMMENTS
The present is an International Business Company - IBC (ex - Offshore
Company) registered in
IBC companies, being covered by the law of confidentiality, may use nominee
shareholders that hold the shares in trust for beneficial owners. Until
recently beneficial owners were made known only to the Central Bank of the
In the past IBC’s (ex offshore companies & offshore branches) used to be
benefited from a corporation tax rate on their profits of 4.25%. However,
according to new tax legislation which has been in effect as of 1st January
2003, there is no longer a distinction between local companies and
International Business Companies (IBC’s) and thus, the net profits of all
companies registered in
Further more, in the past the law required the IBC’s (ex offshore companies
& offshore branches), beneficial owners to be non-Cypriot residents and the
business activities to be carried out, outside
We contacted the company’s correspondence (Legal firm Polakis Sarris & Co)
and talked to Ms Chrystalla Giallourou who confirmed that the subject is their
client and an International Business Company that does not maintain offices of
its own in
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Contact Person: |
Ms Chrystalla Giallourou |
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Position: |
Correspondence Official |
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Contact Tel.No.: |
+357 22456000 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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. |
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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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%)