MIRA
INFORM REPORT
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Report Date : |
30.03.2012 |
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Tel. No.: |
357 25376919 |
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Fax No.: |
0030 22330 89576 |
IDENTIFICATION DETAILS
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Name : |
MAVELOT SERVICES LIMITED |
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Registered Office : |
3, Michael Koutsofta Street, 3031, |
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Country : |
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Date of Incorporation : |
0106.2009 |
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Legal Form : |
Limited Company |
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Line of Business : |
Management consulting services |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s 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 : |
Moderate |
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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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Cyprus |
B1 |
B1 |
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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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Additional Information
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. Relationship/Directorship Search through
Infocredit Database
The present is an International Business
Company - IBC (ex - Offshore Company) registered in Cyprus on 01.06.2009.
According to the article of association the company is involved in consulting
and management activities. However, this information was not confirmed. Of
Course the article makes provision of other activities as well. We have the
impression that this is an International Business Company.
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 Hermes S. Stylianides & Co LLC 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 included in the 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.
Contact Information
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Interview Date: |
29/03/2012 |
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Name: |
Not Available |
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Quality: |
company |
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Title: |
representative |
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Declined |
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Any info |
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A questionnaire was sent - no reply received |
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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.51.14 |
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1 |
Rs.81.41 |
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Euro |
1 |
Rs.68.22 |
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.