MIRA INFORM REPORT
|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
INNUA PETROCHEM LTD |
|
|
|
|
Registered Office : |
1st Floor Yamraj Building, P.O. Box 3321
Road Town Tortola |
|
|
|
|
Country : |
British Virgin Islands |
|
|
|
|
Date of Incorporation : |
16.06.2004 |
|
|
|
|
Com. Reg. No.: |
730393 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Trading of PVC and plasticizers. |
|
|
|
|
No. of Employees
: |
40 |
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 200,000.00 |
|
Status : |
Good |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
British Virgin Islands |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: British overseas
territory - Parliamentary system
|
Currency: 100 USD = 100.00 USD |
|
Legal Name: |
Innua Petrochem Ltd |
||
|
|
|
||
|
Legal Address |
1st Floor Yamraj Building, P.O. Box 3321 Road Town Tortola British
Virgin Islands |
||
|
Operative Address |
P.O. Box 3069, 3 Catherine Christopher Building Road Town, Tortola,
British Virgin Islands |
||
|
Mailing Address |
P.O. Box 3069, 3 Catherine Christopher Building Road Town, Tortola,
British Virgin Islands |
||
|
Telephone: |
(284) 495-0244 |
Registration Number : |
730393 |
|
Fax: |
(284) 495-0245 |
Legal Form: |
Limited Company |
|
Email: |
Registered in: |
British Virgin Islands |
|
|
Website: |
Date Created: |
June 16, 2004 |
|
|
Manager: |
Lara Harris - President |
Date Incorporated: |
June 16, 2004 |
|
Staff: |
40 |
Stock: |
N.A. |
|
|
|
Value: |
10,000.00 USD |
|
Activity: |
Trading of PVC and plasticizers. |
||
|
Name of the Bank |
First Bank |
|
HISTORY |
|
|
|
The company has been operating since 2004. |
|
PRINCIPAL ACTIVITY |
|
|
|
The subject company specializes in the trading of PVC and
plasticizers. |
|
Products/Services description: |
|
|
|
The company is a supply partner for PVC and plasticizers, wherever you
are in the world, they provides plastics manufacturing solutions to 64
countries across the world. Innua trades in Polyvinyl Chloride (PVC) in suspension, mass and
emulsion forms. They also offer PVC Co-Polymers and Compounds. |
|
Sales are: |
|
|
|
Wholesale |
|
Brands: |
|
|
|
Innua. |
|
Suppliers: |
|
|
|
Petrochemical producers around the globe. |
|
Operations area: |
|
|
|
National, International |
|
The company export to worldwide. |
|
|
The subject employs 40 employee(s) |
|
|
PAYMENTS |
|
|
|
made on a 40 days basis - monitored over the last 12 months |
|
LOCATION |
|
|
Headquarters |
|
|
|
The company is headquartered at P.O. Box 3069, 3 Catherine Christopher
Building Road Town, Tortola, British Virgin Islands. |
|
Comments on location: |
|
|
|
The administrative office and operations of the company can be found
at the above listed address. |
|
Branches: |
|
|
|
No branches were reported. |
|
Listed at the stock exchange: |
|
|
|
NO |
|
Shareholders Parent Company(ies): |
|
|
|
The company is privately held. Despite our long searches, we could not
identify the shareholders. The person contacted refused to provide that information on grounds of
confidentiality. |
|
Management: |
|
|
|
Lara Harris, President Stan Sexton, Chief Financial Officer Sam Tucker, Director - International Trade Oscar Rustrian, Director - Latin American Trade David Harris, Senior Trade Consultant Gail Harris, Financial Consultant |
|
Related Companies: |
|
|
|
Innua Australia Innua USA Inc. Innua Europe SA Innua China Ltd Innua Petrochem Latin America Sales Office |
|
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 |
8,000,000 |
|
Operating Income |
1,700,000 |
|
Net Income |
1,500,000 |
|
Net worth |
5,000,000 |
|
Bank liabilities |
380,000 |
|
The cash flow is |
good |
|
Currency |
DATE |
|
USD |
2008 |
|
Turnover |
7,900,000 |
|
Operating Income |
1,500,000 |
|
Net Income |
1,400,000 |
|
Net worth |
3,000,000 |
|
Bank liabilities |
600,000 |
|
The cash flow is |
good |
|
Legal Fillings |
|
The
sources consulted record no detrimental legal or labor court information. |
|
Local credit bureau gave a good credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
|
|
Final Opinion |
|
|
|
This is a privately held company with 8
years of experience. They currently have the support of 40 employees for this
reason it is considered a small sized company. Despite our long searches, we could not
identify the shareholders. The subject company specialises in the
trading of PVC and plasticizers. The company also deals with a well known
bank in BVI. The figures available show that the
company has a controlled indebtedness and that the cash is good. Also, our searches revealed that the
payments are regular. Considering the information gathered, we
suggest a credit line of USD 200,000.00 |
|
|
|
||
|
Profitability |
VERY GOOD |
Public |
NO |
|
Indebtedness |
CONTROLLED |
Payments |
REGULAR |
|
Cash |
GOOD |
|
|
|
Comments |
|
|
|
The company requested an email or fax in order to help us. We sent the email directly to Mr. Stan Sexton (CFO) but so far we have
not received any answer from him. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.15 |
|
UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.