MIRA INFORM REPORT

 

 

Report Date :

27.07.2012

 

IDENTIFICATION DETAILS

 

Name :

PERFECT POLYMERS FZ LLC

 

 

Registered Office :

Al Jazeera Al Hamra Free Zone PO Box  6577 Ras Al Khaimah

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.04.2009

 

 

Com. Reg. No.:

33515, Ras Al Khaimah

 

 

Legal Form :

Free Zone Company – FZ LLC

 

 

Line of Business :

Manufacturers of polymers, resin and saturated and unsaturated polyester.

 

 

No. of Employees :

65

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

UAE

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                         : PERFECT POLYMERS FZ LLC

Country of Origin                                    : Ras Al Khaimah, United Arab Emirates

Legal Form                                            : Free Zone Company – FZ LLC

Registration Date                                   : 15th April 2009

Commercial Registration Number            : 33515, Ras Al Khaimah

Trade Licence Number                            : RAKIA 10FZ102080982

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                         : 65

Activities                                               : Manufacturers of polymers, resin and saturated and unsaturated polyester.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

COMPANY NAME

 

PERFECT POLYMERS FZ LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Al Jazeera Al Hamra Free Zone

 

PO Box             : 6577

 

Town                 : Ras Al Khaimah

Country             : United Arab Emirates

 

Telephone         : (971-7) 2432045

Facsimile          : (971-7) 2432046

Mobile               : (971-50) 7540437

Email                : hari@perfectindustries.com / ij@perfectindustries.com / polymers@perfectindustries.com

 

Premises

 

Subject operates from a suite of offices a factory covering 20,000m2 that are rented and located in the Al Jazeera Al Hamra Free Zone of Ras Al Khaimah.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                                 Position

 

·       Thomas William                                            Indian                                        Managing Director

 

·       Maxim Jaya Raj                                            Indian                                        Director

 

·       Boshab Raja Sami                                        Indian                                        Director

 

·       Izzatulla Jawaid                                                  -                                          General Manager

 

·       Hari Haraputhitran                                              -                                          Procurement Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th April 2009

 

Legal Form                  : Free Zone Company – FZ LLC

 

Commercial Reg. No.  : 33515, Ras Al Khaimah

 

Trade Licence No.       : RAKIA 10FZ102080982

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)                                    

 

·       Thomas William                                           

 

·       Maxim Jaya Raj                                           

 

·       Boshab Raja Sami

 

 

AFFILIATED COMPANIES

 

·       Perfect Industries LLC

Dubai

 

·       Perfect Engineering FZCO

Jebel Ali

 

·       Sun Steel Industries FZC

Sharjah

 

·       Perfect Industries

Sharjah

 

·       Perfect International FZC

Sharjah

 

·       Prompt Contracting LLC

Abu Dhabi

 

·       Perfect Industries WLL

Kuwait

 

·       Tech Perfect Structurals Co. SPC

Bahrain

 

·       Stenatech Inspection Services

Singapore

 

·       Perfect International Fabricators

India

 

·       Perfect Engineers

Saudi Arabia

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of polymers, resin and saturated and unsaturated polyester.

 

Production Capacity: 40,000 tonnes per year.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 65 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                UAE Dh 14,000,000                   UAE Dh 19,000,000

 

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 Ras Al Khaimah

NBRAK Building

PO Box: 5300

Ras Al Khaimah

Tel: (971-7) 2221127

Fax: (971-7) 2224202

 

 

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.55.95

UK Pound

1

Rs.86.56

Euro

1

Rs.67.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.