MIRA INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MARITIME VENTURES FUND LTD |
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Registered Office : |
The Grand Pavilion Commercial Centre, Oleander
Way, 802 West Bay Road, P.O. Box 32052, Grand Cayman KY1-1208 |
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Country : |
Cayman Islands |
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Year of Establishment : |
1993 |
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Com. Reg. No.: |
261625 |
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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 : |
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 : |
125,000.00 USD |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Cayman 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 |
GEOPOLITICS - CAYMAN ISLANDS
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas
territory - Parliamentary system
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Currency: Cayman Islands (KYD) 100 KYD = 120.03 USD |
IDENTIFICATION
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Legal Name: |
MARITIME VENTURES FUND LTD |
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Legal Address |
The Grand Pavilion Commercial Centre, Oleander Way, 802 West Bay Road,
P.O. Box 32052, Grand Cayman KY1-1208, Cayman Islands (Reg. Agent) |
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Telephone: |
N.A. |
Registration Number : |
261625 |
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Fax: |
N.A. |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
Cayman Islands |
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Website: |
N.A. |
Date Created: |
1993 |
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Manager: |
N.A. |
Date Incorporated: |
1993 |
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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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BANKS
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Name of the Bank |
Barclays Bank |
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Account Number |
Confidential |
BUSINESS
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PRINCIPAL ACTIVITY |
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Maritime Ventures Fund Ltd. is
an International Business Company / Offshore Company incorporated in Cayman
Islands for tax purposes. However, the company Maritime Ventures Fund Ltd. does not carry any
operation in Cayman Islands. It is not registered with Cayman Islands Chamber of Commerce as being
an active business. It is not listed with Cayman Islands yellow pages. It is not listed with the major local credit bureaus. The company does not have any employee in Cayman Islands. It uses the
registered agent staff. |
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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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PAYMENTS |
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Made on a 30 days basis - monitored over the last 12 months |
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Comments on location: |
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The Address mentioned above is that of the registered agent: Portcullis TrustNet (Cayman) Ltd The Grand Pavilion Commercial Centre, Oleander Way 802 West Bay Road, P.O. Box 32052, Grand Cayman, KY1-1208, Cayman
Islands |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company is owned by foreign shareholders. |
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Management: |
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It is locally managed by the registered agent mentioned above. |
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Related Companies: |
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Through outside sources we could learn that the subject would be
related to: Global Maritime Ventures Berhad Level 15, Menara Bank Pembangunan, Bandar Wawasan, No 1016, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia. GL +603-2611 3331 Fax +603-2694 0860 This company was incorporated as a vehicle to manage the RM500 million
funds under the Government's Shipping Venture Fund (SVF). GMVB is a
subsidiary of the Bank Pembangunan Malaysia Berhad also a marine venture
capital investment holding company incorporated to accelerate the development
of the country's maritime industry. However, the subject being an offshore company, the link could not be
verified. |
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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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
0 |
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Operating Income |
1,600,000 |
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Net Income |
1,600,000 |
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Net worth |
6,000,000 |
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Bank liabilities |
0 |
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The cash flow is |
Normal |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
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 Cayman Islands,
it uses such territory only as its legal and administrative address, but all
its operations are carried out abroad. It is managed by, Portcullis TrustNet
(Cayman) Ltd., 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. It has an account with, Barclays Bank, a
well known bank and a credit line may be considered for 125,000.00 USD based
on it experience. |
SUMMARY
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Profitability |
GOOD |
Public |
NO |
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Indebtedness |
NIL |
Payments |
REGULAR |
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Cash |
NORMAL |
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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.49.28 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.65.58 |
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 |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.