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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
TUMMEL LTD |
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Registered Office : |
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Country : |
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Year of Establishment : |
2002 |
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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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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Offshore Company |
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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 March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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St Vincent and The Grenadines |
C1 |
C1 |
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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 - SAINT VINCENT AND THE GRENADINES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Commonwealth Realm - Parliamentary system
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Currency: 100 XCD = 37.03 USD |
IDENTIFICATION
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Legal Name: |
Tummel Ltd |
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Legal Address |
P.O. Box 613, 112 Bonadie Street Kingstown St. Vincent and the
Grenadines (Registered Agents Address) |
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Telephone: |
(784) 457-1145 (Registered Agents Number) |
Registration Number : |
N.A. |
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Fax: |
(784) 457-1961 (Registered Agents Fax) |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
St. Vincent and the Grenadines |
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Website: |
N.A. |
Date Created: |
2002 |
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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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BANKS
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Name of the Bank |
HSBC Bank |
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Account Number |
Confidential |
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Comments |
N.A. |
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BUSINESS
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PRINCIPAL ACTIVITY |
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TUMMEL 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. |
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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 St. Vincent and the
Grenadines. It uses the registered agent staff. |
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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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LOCATION |
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Headquarters |
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The address mentioned above is that of the registered agent: St. Vincent Trust Service Ltd P.O. Box 613, 112 Bonadie Street Kingstown St. Vincent and the Grenadines Tel: +1 784 457 1145 Fax: +1 784 457 1961 Email: info@st-vincent-trust.com |
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. The agent declined to give any information on the subject, who is
protected by the law of non disclosure. |
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Related Companies: |
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Through outside sources we could learn that the subject might be
related to: Tummel Ltd c/o Prayati Shipping Pvt Ltd, Jolly Bhavan Mumbai India 400020 Phone: +91 22 4099 4500 Fax: +91 22 6637 4584 E-mail: info@marineindia.net 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 |
2011 |
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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 |
5,850,000 |
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Bank liabilities |
0 |
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The cash flow is |
normal |
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Comments on the financial data: The company
being an offshore, it was not possible to verify the financial figures with
the registered agent. |
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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 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. |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.85 |
|
|
1 |
Rs.86.88 |
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Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 SCs 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.