MIRA
INFORM REPORT
|
Report Date : |
31.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ROSCHIM
COMMERCE LIMITED |
|
|
|
|
Registered Office : |
3, Chrysanthou Mylona Street, 3030 Limassol, P. O. Box 53180 – 3301 |
|
|
|
|
Country : |
Cyprus |
|
|
|
|
Date of Incorporation : |
19.06.1996 |
|
|
|
|
Com. Reg. No.: |
C79705 Nicosia |
|
|
|
|
Legal Form : |
Private Limited
Liability Company (offshore) |
|
|
|
|
Line of Business : |
Trading of Chemicals and Metals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NAME & ADDRESS
Correct Registered
Name: ROSCHIM COMMERCE LIMITED
Address: 3,Chrysanthou Mylona Street
3030 Limassol CYPRUS
P.O.Box: 53180 – 3301
Telephone: +357-25-857808
Fax: +357-25-341272
LEGAL STATUS
Legal Form: Private Limited
Liability Company (offshore)
Registration
number and city: C79705 Nicosia
Registration date:
19.06.1996
Former
registration name: AVRILIUS
COMMERCE LIMITED, valid since: 19.06.1996, until: 18.02.1998
Former company
names: AVRILIUS COMMERCE
LIMITED
PRINCIPALS
|
SHAREHOLDERS: |
|
Full Name |
Function |
Nationality |
EQUITY |
Address |
|
MERITSERVUS (TRUSTEES) LIMITED |
Shareholder |
|
80.00% |
3, Chrysanthou Mylona |
|
Sanmeritus Investments Limited |
Shareholder |
|
20.00% |
|
|
MANAGEMENT: |
|
Full Name |
Age |
Function |
Qualification |
Experience |
Address |
|
Meritservus Secretaries Limited |
|
Secretary |
|
|
|
|
Mrs. Panagiota Constantinou |
47 |
Director |
N/A |
N/A |
14 Siarlo, Agios.Athanasios |
|
Mrs. Maria Elia |
46 |
Director |
N/A |
N/A |
1, Mantinias Street,Monovolikos |
OPERATIONS
SIC
main activity
6799 Investors,
NEC (commodity contract trading companies)
5169 Chemicals and Allied Products, NEC
According to the Articles of Association the company was established in order
to get involved in Trading of chemicals and metals. This information was not
confirmed; of course the Article makes provision for other activities as well.
IMPORTS
Unknown
EXPORTS
Unknown
AGENCIES
Name Country Product
Unknown
TRADE SUPPLIERS
Name Country Product
Unknown
NUMBER OF EMPLOYEES
It seems that the company does not maintain offices in Cyprus. At least we did not trace any. Under these circumstances no staff is employed. In such cases, companies utilize staff (2-3 people) from their auditors.
DESCRIPTION OF
PREMISES
HEADQUARTERS: The company doesn't maintain offices of it's own in Cyprus. The address given overleaf is that of the official correspondence of the company and the official register address.
BRANCHES: Unknown
RELATED COMPANIES
Unknown
BANKERS
MARFIN POPULAR BANK PUBLIC CO. LIMITED
123 Grivas Dighenis Ave. & G. Neophytou,Linopetra, Limassol Tel:357 25815000 Fax:357 25815549
AUDITORS /
ACCOUNTANTS
Date: 20.11.2007
Company: DELOITTE & TOUCHE, 256, Arch. Makarios Avenue,P.O. Box 53180
Limassol ,CYPRUS,Tel:+357 25 868686 Fax:+357 25 763160
SHARE CAPITAL
Registered capital: CYP
1,000.00 since 19.06.1996
Number of Ordinary: 1,000
Value per share of Ordinary: CYP 1.00
Issued capital: CYP 1,000.00 since 19.06.1996
Number of Ordinary: 1000
Value per share of Ordinary:
CYP 1.00
Paid-up capital: CYP 1,000.00 since 19.06.2006
of which paid in cash: CYP
1,000.00
CHARGES
None in current years
FINANCE
Unknown
PAYMENT
Unknown
COMMERCIAL MORALITY
Unknown
FINANCIAL STRENGTH
Unknown
GENERAL COMMENTS
The present is an International Business Company - IBC (ex - Offshore Company) registered in Cyprus on 19.06.1996. According to the Articles of Association the company was established in order to get involved in Trading of chemicals and metals. This information was not confirmed; of course the Article makes provision for other activities as well.
IBC companies, being covered by the law of confidentiality, may use nominee
shareholders that hold the shares in trust for beneficial owners. Until
recently beneficial owners were made known only to the Central Bank of the
Republic of Cyprus that used to grant the permission for the company’s
registration in Cyprus. After Cyprus accession in the EU this practice changed.
Beneficial owners of an IBC are now known to the Lawyers and / or Auditors that
undertake the registration of such companies in Cyprus.
In the past IBC’s (ex offshore companies & offshore branches) used to be
benefited from a corporation tax rate on their profits of 4.25%. However,
according to new tax legislation which has been in effect as of 1st January
2003, there is no longer a distinction between local companies and
International Business Companies (IBC’s) and thus, the net profits of all
companies registered in Cyprus are taxed at the rate of 10%.
Further more, in the past the law required the IBC’s (ex offshore companies
& offshore branches), beneficial owners to be non-Cypriot residents and the
business activities to be carried out, outside Cyprus only. Currently, this law
has changed. IBC entities may have activities worldwide, including Cyprus.
However, in order for an IBC entity to have activities locally, their
Memorandum and Articles of Association should provide for that. Most of the IBC
entities that were registered before the change of the law have already
proceeded with the amendments in their Memorandum and Articles of Association.
Contact Person: Ms Panayiota
Constantinou
Position: Director / Company's
representative in Cyprus
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)