MIRA INFORM REPORT

Report No. :	501358
Report Date :	10.04.2018

IDENTIFICATION DETAILS

Name :	PEARL AFRICA HOLDINGS LTD
Registered Office :	Craigmuir Chambers Road Town Tortola British Virgin Islands VG1110
Country :	British Virgin Islands
Date of Incorporation :	26.10.2007
Legal Form :	Limited Company
Line of Business :	Subject is an International Business Company incorporated in British Virgin Islands for tax purposes.
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	International business company
Payment Behaviour :	Unknown
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
British Virgin Islands	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

BRITISH VIRGIN ISLANDS - ECONOMIC OVERVIEW

The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. More than 934,000 tourists, mainly from the US, visited the islands in 2008. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959.

Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements.

In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by yearend 2000. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the British Virgin Islands even more attractive to international business.

Source : CIA

STATUTORY INFORMATION

Legal Name:	PEARL AFRICA HOLDINGS LTD
Trade Name:	PEARL AFRICA HOLDINGS LTD
ID:	1439921
Date Created:	2007
Date Incorporated:	26/10/2007
Legal Address:	Craigmuir Chambers Road Town Tortola British Virgin Islands VG1110 VIRGIN ISLANDS, BRITISH
Operative Address:	Craigmuir Chambers Road Town Tortola British Virgin Islands VG1110 VIRGIN ISLANDS, BRITISH
Telephone:	284-494-2233
Fax:	284-494-3547
Legal Form:	Limited Company
Email:	NA
Registered in:	British Virgin Islands
Website:	NA
Contact:	HARNEYS CORPORATE SERVICES LIMITED
Staff:	0
Activity:	This is an International Business Company (IBC)
BANKS	British Virgin Islands Bank
	This information was not verified by the registered agent.
HISTORY
	The Company was incorporated in BVI in 2007.
PRINCIPAL ACTIVITY
PEARL AFRICA HOLDINGS LTD is an International Business Company incorporated in British Virgin Islands for tax purposes. The company uses the registrant address but does not carry any operation in the country. It is not registered in British Virgin Islands as being a local business company. It is not listed with the British Virgin Islands commercial pages.
Products/Services description:	NA
Sales are:	Wholesale
Clients:	NA
Brands:	NA
Suppliers:	NA
Operations area:	NA
The company imports from	NA
The company exports to	NA
The subject employs	The company does not have any employee in British Virgin Islands.
Payments:	Unknown
LOCATION
Headquarters :	The company does not operate in the country. It would use its address for tax purposes.
Branches:	NA
Possible related companies:	Pearl Holding Ltd Tudor House St. Peter Port Guernsey, Channel Islands PEARL OF AFRICA HOLDINGS LTD Company Number 80010000647595 Previous Company Numbers 133656 Status Registered Incorporation Date 13 July 2011 (over 6 years ago) Company Type Private / Company limited by shares Jurisdiction Uganda
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Authorized Capital:	NA
Shareholders %:	The company is owned by foreign shareholders. Shareholders information is not public.
Management:	HARNEYS CORPORATE SERVICES LIMITED Craigmuir Chambers Road Town Tortola British Virgin Islands VG1110 VIRGIN ISLANDS, BRITISH
	First Registered Agent: MOSSACK FONSECA & CO (B.V.I.) LTD. First Registered Office: Akara Building, 24 De Castro Street Wickhams Cay 1 Road Town Tortola VG1110 VIRGIN ISLANDS, BRITISH
FINANCIAL INFORMATION
This is a private company which does not make its financial statements public
LEGAL FILINGS
There are no adverse registered for this company.
Transaction History S.No Date Transaction Number Description Status Eforms/Attachments 1 24/10/2007 T070697329 Name Reservation (10 days) Approved Name Reservation (10 days) 2 26/10/2007 T070711027 Application for Incorporation (BC) Approved Application for Incorporation (BC) Memorandum and Articles of the Company 3 04/09/2008 T080614866 Annual Fee Submission (BC) Approved Annual Submission 4 20/10/2009 T090578704 Annual Fee Submission (BC) Approved Annual Submission 5 11/10/2010 T100612370 Annual Fee Submission (BC) Approved Annual Submission 6 24/10/2011 T110687759 Annual Fee Submission (BC) Approved Annual Submission 7 20/12/2012 T120932853 Annual Fee Submission (BC) Approved Annual Submission 8 14/11/2013 T130768426 Annual Fee Submission (BC) Approved Annual Submission 9 21/11/2014 T140837128 Annual Fee Submission (BC) Approved Annual Submission 10 24/11/2015 T150848943 Annual Fee Submission (BC) Approved Annual Submission 11 07/09/2016 T160637625 Notice of Change of Registered Agent Approved Notice of Change of Registered Agent 12 15/11/2016 T161002090 Annual Fee Submission (BC) Approved Annual Submission 13 05/01/2017 T170010029 Register of Members or Directors Approved Register of Directors 14 13/02/2017 T170105349 Annual Fee Submission (BC) Approved Annual Submission
SUMMARY
This is an International Business Company which belongs to a company located in British Virgin Islands. It is registered in British Virgin Islands for tax purposes and does not operate within the country. It is managed by a resident registration agent.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Unknown
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Registry
POSITION	Registrar
COMMENTS	The person contacted refused to confirm data about this company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.93
UK Pound	1	INR 91.50
Euro	1	INR 79.69
US Dollar	1	INR 65.02

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.