MIRA
INFORM REPORT
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Report Date : |
17th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SIMPEX
TRADING LTD |
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Registered Office : |
Suite 201 Trust Company Complex - Delap Wing Ajeltake Rd Ajeltake Island, Majuro 96960 |
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Country : |
Marshall
Islands |
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Date of Incorporation : |
31.10.1994 |
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Legal Form : |
Offshore
Company - Private Limited |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
SIMPEX TRADING LTD
Company Details
Country : Marshall Islands
Address : Suite 201 Trust Company Complex - Delap Wing Ajeltake Rd Ajeltake
Island
Majuro
96960
Tel : 692-2473018
Type : Service
Industry : Professional Services
Key Facts
Established
Year : 1994
License
Number : 746
Date
of Registration : 31 October, 1994
Issuing
Authority : Registrar of Corporations
Legal
Form : Offshore Company - Private Limited
Legal Form - Status : No operational office exists.
License is a "shelf-company" used for tax
purposes
only.
Credit Rating & Risk Analysis
Credit Opinion :
Although the Subject Business Entity is legally registered, it is currently only a "shelf company" and maintains no known business activity. Therefore it is not possible to apply the normal Credit Rating and Risk Analysis algorithm.
CREDIT ASSESSMENT FACTORS
Credit risk assessment is gauged on 12 key business factors.
Each factor is assigned a rating and the total is aggregated and weighed in consideration of any other influencing factors relevant to the final assessment.
These factors include :
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Financial
Status |
Profitability |
Industry
sector & trends |
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Principals |
Litigation |
Liabilities |
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Management |
Scale
of operations |
Years
in business & co history |
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Assets(real
estate etc.) |
Trade
references & reputation |
Family
involvement & support |
Adverse Data
Results : Total of 0 record found.
Recommended Credit Limit - Trade Finance
Maximum
Recommended Credit : No Recommendation
Fullcheck Report Details
Country : Marshall Islands
Company
Name : SIMPEX TRADING LTD
Company
Address : Suite 201 Trust Company Complex - Delap Wing Ajeltake Rd Ajeltake Island
Majuro 96960
Company
Tel : 692-2473018
Company
Type : Service
Industry : Professional Services
Established
Year : 1994
Postal Details
P.O. Box : 1405
P.O.Zip : 96960
P.O. Suburb : Ajeltake Island
REGISTRATION & LEGAL STATUS
*Credit Assessment*
===================
our Credit risk assessment is gauged on 12 key business factors. Each factor is assigned a rating and the total is aggregated and weighed in consideration of any other influencing factors relevant to the final assessment. *Operation Status*
==================
Although the company is a legally registered business entity, it does not maintain an Operational office, nor any employees in this country, but rather employs the services of a local firm engaged in corporate secretarial management services to "maintain" company licenses on behalf of owners who are located overseas.
The management services usually involves registering the office address as the same one used by the firm employed to "maintain" the license, as well as receive any mail address to the company, forward any mail to the owners, attend to license renewals, corporate levies and related issues.
The local firm employed to perform maintenance for this company is:
Company Name : TRUST COMPANY OF THE MARSHALL ISLANDS INC
Address : Trust Company Complex Ajeltake Rd
Zip : 96960
Suburb : Ajeltake Island
City : Majuro *Company Registration*
======================
(1)Company Name : SIMPEX TRADING LTDLicense number : 746Date issued : 31 October, 1994Legal form : Offshore Company - Private LimitedIssuing authority : Registrar of Corporations FINANCIAL RELATED DESCRIPTION
*Financials*
============
Under Marshall Islands law, the company is exempt from publishing or disclosing financial statements. Tax returns are not required as Non-resident companies are exempt from the provisions of the Income Tax Act. Furthermore, the company's registered agent has declined to divulge any financial information as the prevailing laws of secrecy prohibit the release of any such details relating to clients. *Reputation*
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Since its operations are carried out abroad the firm is unknown in the local market place and commercial morality and general reputation cannot be assessed, although nothing detrimental is noted upon the company.
ADVERSE DATA MONITORING
DISHONORED CHECKS No
Record Found
DEBT No
Record Found
LITIGATION No Record Found
PERFORMANCE DEFAULTS No
Record Found
ADVERSE PRESS
COVERAGE No
Record Found
FORMER COMPANY
RELATIONSHIPS No
Record Found
PRODUCT, TECHNOLOGY, SERVICE DESCRIPTION
*Main Products & Services*
==========================
As Non-resident Domestic Corporation, the subject is not allowed to engage in any trading activity in the Marshall Islands. From local enquiries, it has not proved possible to determine the nature, extent or the whereabouts of the subject's operations
SHAREHOLDER'S DESCRIPTION
*Major Shareholders*====================Names of company directors and shareholders have not been disclosed. Under the Marshall Islands Law, a company incorporated thereunder is not required to have on public record details of its directors/officers and shareholders.
RELATED PARTIES DESCRIPTION
*Directors' Details*
====================
There is no requirement for disclosure of Shareholders / Directors names.
INTERNATIONAL TRADE ACTIVITY
DESCRIPTION
Country Date Type of Business Activity
Hong
Kong February, 2007 Investment
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/normal. |
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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