MIRA INFORM REPORT

 

 

Report Date :           

27.08.2011

 

IDENTIFICATION DETAILS

 

Name :

RAJ IMPEX LTD

 

 

Formerly Known As :

Pure Perfect Ltd

 

 

Registered Office :

Saif Zone, Plot Y1/79, P O Box 120227, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.02.2006

 

 

Legal Form :

Branch of a Foreign Registered Corporation

 

 

Line of Business :

Traders of jewellery, precious stones and metals

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : RAJ IMPEX LTD

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Branch of a Foreign Registered Corporation

Registration Date                                   : 22nd February 2006

Trade Licence Number                            : 03707

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                                     : 4

Activities                                               : Traders of jewellery, precious stones and metals

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Nizar Ali Shamsuddin Merchant, Managing Director

 

COMPANY NAME

 

RAJ IMPEX LTD

 

 

company 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

 

     Name                                                                                              Position

 

·       Nizar Ali Shamsuddin Merchant                                                          Managing Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd February 2006

 

History                         : Subject was originally established in 2006 under the name of “Pure Perfect Ltd” but changed to the current style of “Raj Impex Ltd” in 2008.

 

Legal Form                  : Subject is the United Arab Emirates registered branch of Raj Impex Ltd, a Limited Liability ompany incorporated in the British Virgin Islands.

 

  Raj Impex Ltd in the United Arab Emirates, operates as a Branch of a Foreign Registered Corporation 

 

  A Branch of a Foreign Registered Corporation is not a legal entity in its own right.

  Responsibility for payments lays in the hands of the company where it is originally

  registered.

 

  Under these circumstances, we strongly advise that any international trade credit should

  only be written under the name of the main company where the subject holds its registered office, in this case the British Virgin Islands.

 

Trade Licence No.       : 03707, Saif Zone

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

 

OPERATIONS

 

Activities: Engaged as traders of jewellery, precious stones and metals.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of 4 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 8,100,000                     UAE Dh 8,750,000

 

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

 

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

 

 

BANKERS

 

·       Emirates Bank International Ltd

Immigration Road

PO Box: 25090

Sharjah

Tel: (971-6) 5733300

Fax: (971-6) 5730077

 

·       Habib Bank AG Zurich

PO Box: 17786

Dubai

Tel: (971-4) 2221281

Fax: (971-4) 2284631

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Any credit amount that is to be offered to this company should be written under the name of “Raj Impex Ltd” and directed to the companies head office address in the British Virgin Islands.

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.20

Euro

1

Rs.66.48

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

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.