MIRA INFORM REPORT

Report Date :

12.10.2011

IDENTIFICATION DETAILS

Name :	CAPRIZO LIMITED
Formerly Known As :	B.B. BIOLOGICA (CYPRUS) LIMITED
Registered Office :	Nicosia Tower Centre, 8th Floor, Apt. 801, 36, Vyronos Avenue Nicosia, 1506 Nicosia
Country :	Cyprus
Date of Incorporation :	28.09.2005
Com. Reg. No.:	C165960 Nicosia
Legal Form :	Private Limited Liability Company
Line of Business :	General Traders

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Offshore Company
Payment Behaviour :	----
Litigation :	----

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Cyprus	b1	b1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

company Name & Address

NAME INQUIRED UNDER:

Caprizo Limited

Correct Registered Name:

CAPRIZO LIMITED

Address:

Nicosia Tower Centre, 8th Floor, Apt. 801, 36, Vyronos Avenue Nicosia 1506 Nicosia CYPRUS

P.O.Box:

21341 - 1506 Nicosia

Telephone:

+357-22677000 +357-22456000

Fax:	+357-22670040

Email:

chr.yiallourou@polakissarris.com (Correspondence)

Web:	www.sarris.com.cy (Correspondence Web-page)

Business address:

Nicosia Tower Centre, 8th Floor, Apt. 801, 36, Vyronos Avenue Nicosia 1506 Nicosia CYPRUS

Payment

PAYMENT HABITS:

No Complaints

Comment:

A check against all available information sources of Mecos Infocredit revealed that no late payment incidents against Subject Company exist. Given the fact that no detailed financial statements were released to us , we feel unable to comment on a maximum credit.

Commercial Morality:

Unable to comment Given that the present is an International Business Company - IBC (Offshore Company) and most of its activities are carried out outside Cyprus, coupled with the fact that no further detailed financial information is available, we feel unable to express a safe and reliable opinion on their creditability and commercial morality of the subject.

Financial Strength:

Unable to comment

Legal Status

Legal Form:

Private Limited Liability Company / International Business Company (IBC) (offshore) The term International Business Company came to substitute the term offshore company. Following the latest changes in the Cyprus Tax laws, a Cyprus registered company is taxed at 10% on its net profits provided that the company has management and control in Cyprus. An IBC may be operated from abroad or may have a fully-fledged office in Cyprus.

Date of foundation:

2005

Registration number and city:

C165960 Nicosia

Registration date:

28.09.2005

Former registration name:

B.B. BIOLOGICA (CYPRUS) LIMITED, valid since: 28.09.2005, until: 19.01.2006

MECOS number: 737670 
National ID: C165960

Former company names:

B.B. BIOLOGICA (CYPRUS) LIMITED

Company Status

Registration status: 28.09.2005 - registered company
Activity status: 28.09.2005 - Company is active

Principals

Shareholders
Full Name	Personal ID	Function	Nationality	Equity	Address
SELESTA HOLDINGS CO. LIMITED Registration: No. C149947, 28.09.2005, Nicosia, CYPRUS		Shareholder		100.00% 1,000 Ordinary	Nicosia Tower Centre, 8th Floor, Apt 801, 36, Vyronos Avenue Nicosia 1506 Nicosia CYPRUS

Management
Full Name	Personal ID	Age	Function	Nationality	Qualification	Experience	Address
Mr. Kyriakos Kyriakou	792411	34	Director	CYPRUS	Not retrievable	Not retrievable	3A, Dionisou street, Strovolos Nicosia 2060 Strovolos CYPRUS
Ms. Christina Sarri	782678	35	Secretary	CYPRUS	Degree in Law	Also a director of PRONTOSERVUS LIMITED, ZIMMER HOLDINGS LIMITED, SOLVOCHEM HOLDINGS LIMITED, ROYAL SPORTS BETTING (LARNACA) LIMITED, INTRALOT INTERNATIONAL LIMITED, SPANACO SHIPPING SERVICES LIMITED, MARE SHIPPING SERVICES LIMITED	Nicosia Tower Center, 8th Floor, Apt. 8, 36, Vyronos Avenue Nicosia 1096 Nicosia CYPRUS

Activities

Activities:

General Traders

Operations:

SIC   main activity   6799 Investors, NEC (commodity contract trading companies)   5051 Metals Service Centers and Offices According to the article of association, the company in question was established in order to get involved with the purchase and trade of various steel products. However, this was not confirmed. Of course, the article makes provision of other activities as well. This is an International Business Company.  Business Activities Stainless Steel Stockiest Steel and Steel Products Trading Non Ferrous Metal Trading Steel and Basic Steel Products Trading Iron and Steel Products Trading Industry Classifications - NAICS  » Iron and Steel Mills and Ferroalloy Manufacturing NAICS # 3311  » Metal Service Centers and Other Metal Merchant Wholesalers NAICS # 42351

Motor Vehicles:

Non Retrievable.

Imports:

Non Retrievable.

Exports:

Non Retrievable.

Agencies:

Non Retrievable.

Trade Suppliers:

Non Retrievable.

Workforce:

Number Of Employees: 2

The company does not maintain offices of its own in Cyprus. Under these circumstances no staff is employed. In such cases, companies utilize staff (2-3 people) from their auditors or lawyers or consultants' offices.

Description Of Premises

Address:	Nicosia Tower Centre, 8th Floor, Apt. 801, 36, Vyronos Avenue Nicosia 1506 Nicosia CYPRUS
Type of premises:	Registered Address
Type of ownership:	shared
Area:	Business / Commercial Area

Headquarters:

The company does not maintain offices of its own in Cyprus. The address given above is the company's Registered Address, which is also the company's Official Correspondence Address, Polakis Sarris & Co Law Firm.

Branches:

Non Retrievable.

Related Companies

Affiliated Company
NICOCARDIA PHARMA LIMITED , CYPRUS , National ID: C89939

Affiliated Company
NIMPHY LIMITED , CYPRUS , National ID: C165838

Parent Company
SELESTA HOLDINGS CO. LIMITED , CYPRUS , National ID: C149947

*PLEASE NOTE ADDITIONAL INFORMATION ON RELATED COMPANIES:

"Selesta Holdings Co Limited" - Parent Company registered in Cyprus on 29.06.2004 under the registration number C149947. Further information was not provided.

"NICOCARDIA PHARMA LIMITED" - Affiliated Company registered in Cyprus on 29.10.1997 under the registration number C89939. Further information was not provided.

"NIMPHY LIMITED" - Affiliated Company registered in Cyprus on 23.09.2005 under the registration number 165838. Further information was not provided.

Bankers:

Non Retrievable.

Press:

11.10.2011, No press / media available at present.

Auditors / Accountants:

Non Retrievable

Share Capital

Registered capital:	EUR 1,710.00 since 01.01.2008
Number of Ordinary:	1,000
Value per share of Ordinary:	EUR 1.71
Issued capital:	EUR 1,710.00 since 01.01.2008
Number of Ordinary:	1000
Value per share of Ordinary:	EUR 1.71
Paid-up capital:	EUR 1,710.00 since 01.01.2008

Charges:

None in current years

GENERAL COMMENTS

MAIN SOURCES OF INFORMATION - FOR THIS REPORT

i. Visited Official Companies’ Registry

ii. Interview with Company / Correspondence 

iii. Desk Research 

iv. Search through Internet Subscription Databases (Business Information) 

v. Specialized Media Search Global & Local

vi. Search through internet Social Networks

vii. Infocredit Negative Record Database

viii. Relationship/Directorship Search through Infocredit Database

The present is an International Business Company - IBC (ex - Offshore Company) registered in Cyprus on 28.09.2005. According to the company's Articles of Association, the company was established in order to deal with the purchase and trade of various steel products. However, this information has not been confirmed. Of course the Articles make 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.

We were not able to trace any offices for the company in question in Cyprus, however we contacted the company's correspondence Legal firm Polakis Sarris & Co where the official declined to release any information such as if the company is an IBC or not and if they maintain offices of their own in Cyprus, due to the confidentiality policy owed to their clients. For this reason, a questionnaire was placed in order to be forwarded to the subject but there has been no response yet. 

Please note that the information provided in this report was obtained from the Official Companies' Registrar.

A check against our records revealed that no negative payment incidents against Subject Company, such as unpaid invoices, dishonored cheques and utility bills, bankruptcies exist etc.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.03
UK Pound	1	Rs.76.60
Euro	1	Rs.66.80

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%)

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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.