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MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PACIFIC INTERNATIONAL (OVERSEAS) LIMITED |
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Registered Office : |
International Trust Bldg. PO Box 659 Road Town, Tortola |
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Country : |
British Virgin Islands |
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Date of Incorporation : |
2004 |
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Legal Form : |
International Business Company |
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Line of Business : |
Finance and Investment. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REQUIRED CREDIT ADVISED
CREDIT
MAXIMUM 10,000
USD
GEOPOLITICS
POLITICAL DATA
FORM OF GOVERNMENT British overseas territory - Parliamentary system
ECONOMIC RISK Nil
ECONOMIC DATA
CURRENCY USD
BRANCH
SITUATION Stable
IDENTIFICATION
Company Name: PACIFIC
INTERNATIONAL (OVERSEAS) LIMITED
Legal Address International
Trust Bldg. PO Box 659 Road Town, Tortola British Virgin Islands
Mailing Address PO
Box 659 Road Town, Tortola British Virgin Islands
Phone: +1 (284) 494-3216
Facsimile: +1 (284) 494-3215
Email: N.A.
Website N.A.
Manager N.A.
Staff 0
Registration Number: N.A.
Legal Form International
Business Company
Date Created: 2004
Date Incorporated: -
Stock N.A.
Value 50,000
USD
Activity
Finance and Investment.
BANK(S)
Name
of the Bank
HSBC
BUSINESS
Activity:
PACIFIC INTERNATIONAL (OVERSEAS) LTD is an International Business Company /
Offshore Company incorporated in the British Virgin Islands for tax purposes.
However the company does not carry any operation in the British Virgin Islands.
STAFF : nil. It uses the registration agent's staff
LINE OF BUSINESS : Finance and investment
Subject has the following purposes and objects: The principal object is to engage
either in the Virgin Islands or abroad, in the purchase, sell, disposal,
dealing, transfer, barter, ownership, negotiate, finance, administration to
grant guaranties in favor of obligation of third parties with or without
mortgage or pledge of the corporation assets, give or borrowing money in loan,
giving or taking in commission, mortgage, security, lease, use, usufruct, or
receivership, any kind of property, whether real or personal stock or rights,
and make and accept all kinds of deals, contracts, operations, business and
transactions of lawful commerce.
The corporation could engage also in fulfilling all activities, contracts,
operations, business or transactions allowed by Law to the Corporation.
In particular it is engaged in financial intermediation operations,
participation in overseas companies, shareholdings, overseas investments in
general, etc.
According to informed by subject's resident agent, it is legally registered in
the British Virgin Islands, with head offices abroad.
It means that subject uses the British Virgin Islands territory only as its
legal and administrative address, but all its operations are carried out
abroad.
It is under the same condition as many companies that are established in the
British Virgin Islands, founded in order to protect their shareholder's
investments and, to avail of tax exemption laws in that country.
Subject's annual business volume is not disclosed by its Resident Agent.
Trade references : In virtue of the nature of its business activities its local
transactions are seldom. Therefore, commercial sources consulted in the
marketplace report that they are unable to establish subject's payment
performance and general reputation regarding commitments contracted as same it
is UNKNOWN as making use of credit facilities.
Location:
The Address provided by the client is that of the registered agent:
Aramo Trust Co. Limited
International Trust Bldg.
PO Box 659 Road Town, Tortola
British Virgin Islands
Telephone: +1 (284) 494-3216
Facsimile: +1 (284) 494-3215
PHYSICAL ASSET HOLDINGS: No properties in the British Virgin Islands. Possible
properties abroad are unknown.
Business Overview:
BVI International Business Companies (IBCs) are the off-shore companies with a
great number of advantages, such as:
1) Exemption from payment of any income tax;
2) Can conduct most business transactions (except conducting banking and
insurance activities and other businesses with residents of the BVI; or to
possess real estate in BVI);
3) Requires a minimum of only one shareholder and one director;
4) The directors and shareholders can be entities or individuals resident in
any country;
5) The shares can be issued to the bearer or registered;
6) The Board of Directors can meet in any part of the world and even by telephone;
7) The payment of minimum capital is not required, and the shares can be issued
at par or non par value;
8) The names of the Directors, Officers and shareholders do not need to be
registered in a public record
9) No need to file annual reports nor tax returns;
10) Can transfer its domicile and continue existing as a company incorporated
under the laws of a jurisdiction outside of BVI; a foreign company can also
become a BVI IBC;
11) Neither the minutes book nor the shares book need to be certified by any
authority of BVI;
12) It is not necessary to carry out Directors or shareholder meetings on a
regular basis.
13) The name of the company must include the word 'Limited', 'Corporation' or
'Incorporation', or the abbreviation 'Ltd.', 'Corp.', 'Inc.' or 'S.A.'. Names
in Chinese characters may also be recorded.
14) It is not necessary to issue shares of the company, unless the Board of
directors decides so.
15) The IBC can be dissolved by resolution of the Board of directors, if no
shares have been issued. In case that the shares have been issued, the company
must be dissolved through a shareholders resolution.
16) All the dividends, interest, rents, royalties, compensations and other
amounts paid by company established under the IBC Act to persons that are
non-residents of BVI are exempt from payment of income tax. The capital gains
earned from the sale of whatever shares or other securities of an IBC are also
exempt from payment of any tax.
SHAREHOLDERS
- MANAGERS - RELATED COMPANIES
Shareholders/Parent Companies:
The company is owned by foreign shareholders.
Management:
It is locally managed by the
registered agent mentioned above.
The agent declined to give any information on the subject, who is protected by
the law of non disclosure.
FINANCIALS
- COMMERCIAL TRENDS AND FORECAST
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The Subject Company is registered as an International Business
Company/ Offshore Company in the British Virgin Islands and is therefore
exempt from filing and/or publishing Annual Audited Accounts. |
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RATING
Local credit bureau did not rate this company.
The company is in Good Standing. This means
that all local and federal taxes were paid on due date.
Payments are: made on a 30 days basis -
monitored over the last 12 months.
The cash flow is good.
We
are reporting upon a finance & investments company which belongs to foreign
shareholders. Although it is registered in the British Virgin Islands, it uses
such territory only as its legal and administrative address, but all its
operations are carried out abroad. It is managed by a resident registration
agent and it is unknown in the marketplace, so its commercial morality and
general reputation cannot be assessed, although nothing detrimental is noted
upon subject. As there are no visible assets, and taking into account also that
it is unknown as making use of credit facilities, credit in general must be
regarded as a matter of confidence, and amounts of certain importance would
have to be secured by collateral.
On September 8, 2008 the company was in good standing with the BVI authorities.
A credit line may be considered for a maximum of USD 10,000.
SUMMARY
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.77 |
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UK Pound |
1 |
Rs.80.67 |
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Euro |
1 |
Rs.64.20 |
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. |
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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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%)