MIRA INFORM REPORT

 

 

Report Date :           

14.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KARAM SHIPPING LTD

 

 

Registered Office :

Trust House, 112 Bonadie Street, Kingstown

 

 

Country :

St. Vincent and the Grenadines

 

 

Year of Establishment :

2003

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore Company

 

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

 

Maximum Credit Limit :

USD 300.000

Status :

Satisfactory

Payment Behaviour :

Regular

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

St. Vincent and the Grenadines

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - SAINT VINCENT AND THE GRENADINES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: British overseas territory - Parliamentary system


Economic Risk: Low

Currency: 100 XCD = 37.03 USD


Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Karam Shipping Ltd

Address in the order:

Trust House, 112 Bonadie Street, Kingstown St. Vincent

 

 

Legal Name:

Karam Shipping Ltd

 

 

Legal Address

Trust House, 112 Bonadie Street, Kingstown St. Vincent (reg agent address)

 

 

Telephone:

NA

Registration Number :

NA

Fax:

NA

Legal Form:

International Business Company

Email:

NA

Registered in:

St. Vincent and the Grenadines

Website:

NA

Date Created:

2003

Manager:

NA

Date Incorporated:

NA

Staff:

0

Stock:

NA

 

 

Value:

NA

Activity:

Offshore Company

 

 

BANKS

 

Name of the Bank

FIRST BANK

 

BUSINESS

 

HISTORY

 

The company was created in the year 2003

PRINCIPAL ACTIVITY

 

Karam Shipping Ltd is an International Business Company / Offshore Company incorporated in St. Vincent and the Grenadines for tax purposes.

 

However the company does not carry any operation in St. Vincent and the Grenadines.

 

It is not registered with the St. Vincent and the Grenadines Chamber of Commerce as being an active business.

 

It is not listed with the St. Vincent and the Grenadines yellow pages.

 

It is not listed with the major local credit bureaus.

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

Comments on staff:

 

The company does not have any employee in St. Vincent and the Grenadines. It uses the registered agent staff.

LOCATION

Headquarters

 

The address provided in the order is not complete enough for us to identify the Registered Agent.

Despite our long searches, it has not been possible to locate the agent

 

 




Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is owned by foreign shareholders.

Management:

 

It is locally managed by the registered agent mentioned above

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

USD

2010

Turnover

0

Operating Income

3,800,000

Net Income

3,800,000

Net worth

19,000,000

Bank liabilities

0

The cash flow is

Good

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

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.

 

 Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in the St. Vincent and the Grenadines, 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.

 

A credit line may be considered for USD 300.000



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

GOOD

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.