MIRA INFORM
REPORT
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Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
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Name : |
PERFECT INDUSTRIES FZC |
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Registered Office : |
Saif Zone, Plot No. 14001,
P O Box 8557, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.06.2002 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Steel fabricators and coil coaters |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : PERFECT INDUSTRIES FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 18th June 2002
Trade Licence Number : 03-04-1362
Chamber Membership Number : 700488
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 60
Activities : Steel fabricators and coil coaters
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
PERFECT INDUSTRIES
FZC
company ADDRESS
Registered &
Physical Address
Location : Saif Zone, Plot No. 14001
PO Box : 8557
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5571919
Facsimile : (971-6) 5572919
Email : coil@perfectindustries.com / perfectt@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Saif Zone, Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Rayappa Lurdo Samy Indian Managing
Director
·
Maxim Jaya Raj Serro Indian Director
·
Thomas William Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
June 2002
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 03-04-1362, Saif
Zone (Expires 28/02/2012)
Chamber Member No. : 700488
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Rayappa Lurdo Samy 45.0%
·
Maxim Jaya Raj Serro 27.5%
·
Thomas William 27.5%
AFFILIATED COMPANIES
·
Perfect
Engineering FZCO
Jebel Ali Free Zone
PO Box: 32627
Dubai
Tel: (971-4) 8861556
·
Perfect
Industries LLC
Plot No. 117B
Sheikh Zayed Road
Al Quoz Industrial Area
PO Box: 32627
Dubai
Tel: (971-4) 3471626
Fax: (971-4) 3471525
·
Perfect Polymer LLC
Ras
Al Khaimah
·
Perfect International FZC
Saif
Zone
Sharjah
·
Perfect Concrete FZC
Saif Zone
Sharjah
·
Persfect
Engineering ME LLC
Abu Dhabi
·
Sun
Steel Industries FZC
Sharjah
·
Perfect
Industries BLC
Ras Al Khaimah
OPERATIONS
Activities: Engaged as steel fabricators and coil
coaters.
Subject has ISO 9001:2008 certification.
Import
Countries: Italy and India
Brand Names: HINDALCO
Operating Trend: Steady
Subject has a
workforce of 60 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
15,700,000 UAE Dh
16,380,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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 |
Rs.45.77 |
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UK Pound |
1 |
Rs.75.58 |
|
Euro |
1 |
Rs.65.97 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.