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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Name : |
EAST AND WEST TRADING COMPANY LIMITED |
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Registered Office : |
P.O. Box 127, Mandara, North Ridge, Grand Turk, Turks and Caicos Islands, British West Indies |
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Country : |
Turks and Caicos Islands |
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Date of Incorporation : |
Not Available |
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Legal Form : |
International Business Company |
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Line of Business : |
Offshore company |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Offshore company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Turks and Caicos Islands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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IDENTIFICATION |
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Ordered as: |
East & West TradingCompany Ltd |
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Address in the order: |
P O Box 127 Mandra North Ridge Grand Turk British West Indies |
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Legal Name: |
East and West Trading Company Limited |
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Legal Address |
P.O. Box 127, Mandara, North Ridge, Grand Turk, Turks and Caicos
Islands, British West Indies (Registered Agents Address) |
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Telephone: |
(649) 946-2818 (Registered Agents Number) |
Registration Number : |
N.A. |
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Fax: |
(649) 946-2819 (Registered Agents Fax) |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
Turks and Caicos Islands |
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Website: |
N.A. |
Date Created: |
N.A. |
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Manager: |
N.A. |
Date Incorporated: |
N.A. |
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Staff: |
0 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Offshore company |
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Rating
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Local credit bureau did not rate this company. |
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Final Opinion |
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We are reporting an offshore company which belongs to foreign shareholders.
Although it is registered in the Turk and Caicos 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 of today, no financial data are available. We suggest caution when dealing with this company. |
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Management: |
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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. |
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Legal
Fillings |
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The sources consulted record no
detrimental legal or labor court information. |
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Shareholders
Parent Company(ies): |
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The company is owned by foreign shareholders. |
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PAYMENTS |
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regular |
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Profitability |
N.A. |
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Indebtedness |
NIL |
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Cash |
NORMAL |
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Related
Companies: |
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Through outside sources we could learn that the subject would be
related to: BINATONE INDUSTRIES LIMITED P.O. Box 127, Mandara, North Ridge, Grand Turk, Turks and Caicos Islands, British West Indies Binatone is a private company owned by brothers Partap and Gulu
Lalvani. Binatone was started in the United Kingdom in 1958 to import and
distribute consumer electronics. In the 1980s offices were opened in Spain,
Japan, South Korea, Hong Kong, India, Nigeria and Taiwan. In 1989 the company was divided, with Gulu Lalvani, chairman of
Binatone Electronics International (BEIL), retaining the European and Hong
Kong businesses, and Partap Lalvani (now Chairman of Binatone Industries,
Ltd.) retaining the group's businesses in Eastern Europe, Africa and South
Asia. An office in Moscow was opened in 1994 and an office in Dubai was
opened in 2002. Partap Lalvani's Binatone employs 350 people in 10 countries and the
product range consists of small electronics like personal care products,
cooking appliances and DECT telephones. However, the subject being an offshore company, the link could not be
verified. |
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Financials - COMMERCIAL TRENDS AND
FORECAST |
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As a private company the subject does not publish any financial
statements. |
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Comments on the financial data: As of today, no financial data are
available. |
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Profitability |
N.A. |
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Indebtedness |
NIL |
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Cash |
NORMAL |
Na
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BANKS |
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Name of the Bank |
First Caribbean International Bank |
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Account Number |
Confidential |
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Comments |
This information was not verified by the registered agent. |
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BUSINESS |
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PRINCIPAL
ACTIVITY |
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EAST AND WEST TRADING COMPANY LIMITED is an International Business
Company / Offshore Company incorporated in Turk and Caicos Islands for tax
purposes. However the company does not carry any operation in Turk and Caicos
Islands. It is not registered with the Turk and Caicos Islands Chamber of
Commerce as being an active business. It is not listed with the Turk and Caicos Islands yellow pages. It is not listed with the major local credit bureaus. |
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Trade References: |
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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. |
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The subject employs 0 employee(s) |
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Comments on staff: |
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The company does not have any employee in the Turk and Caicos Islands.
It uses the registered agent staff. |
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LOCATION |
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Headquarters |
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The address mentioned above is that of the registered agent: SAMUEL MICHAEL McCLEERY LL.B P.O. Box 127, Mandara North Ridge, Grand Turk Turks and Caicos Islands Tel: 649.946.2818 Fax: 649.946.2819 Email: ultra@tciway.tc |
Na
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.17 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.