MIRA INFORM REPORT

 

 

Report Date :

17.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SICARO GROUP CORP

 

 

Registered Office :

Hunkins Waterfront Plaza PO Box 556 Main Street Charlestown

 

 

Country :

St. Kitts and Nevis

 

 

Year of Establishment :

2006

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore Company

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

International Business Company

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

St Kitts and Nevis

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - SAINT KITTS AND NEVIS

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Commonwealth Realm - Parliamentary system


Economic Risk: Present

Currency: 100 XCD = 37.03 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

Sicaro Group Corp

 

 

Legal Address

Hunkins Waterfront Plaza PO Box 556 Main Street Charlestown, St. Kitts and Nevis (Registered Agents Address)

 

 

Telephone:

(869) 469-1333 / 1817 (Registered Agents Number)

Registration Number :

N.A.

Fax:

(869) 469-0968 / 1794 (Registered Agents Fax)

Legal Form:

International Business Company

Email:

N.A.

Registered in:

St. Kitts and Nevis

Website:

N.A.

Date Created:

2006

Manager:

N.A.

Date Incorporated:

N.A.

Staff:

0

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Offshore company

 

 

BANKS

 

Name of the Bank

Caribbean Banking Corp

Account Number

Confidential

Comments

N.A.

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

SICARO GROUP CORP is an International Business Company / Offshore Company incorporated in St. Kitts and Nevis for tax purposes.

 

However the company does not carry any operation in St. Kitts and Nevis.

 

It is not registered with the St. Kitts and Nevis Chamber of Commerce as being an active business.

 

It is not listed with the St. Kitts and Nevis yellow pages.

 

It is not listed with the major local credit bureaus.

Trade References:

 

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.

 

The subject employs 0 employee(s)

Comments on staff:

 

The company does not have any employee in the St. Kitts and Nevis. It uses the registered agent staff.

 

PAYMENTS

 

made on a 20 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The address mentioned above is that of the registered agents:

 

Meridian Trust Company Limited

Hunkins Plaza Main Street PO Box 556

Charlestown, Nevis, West Indies

Tel: 1-869-469-1333

Fax: 1-869-469-0968

Email: info@meridiantrustnevis.com

 

and

 

Morning Star Holdings Limited

Hunkins Plaza Main Street PO Box 556

Charlestown, Nevis, West Indies

Tel: 1-869-469-1817

Fax: 1-869-469-1794

Email: info@morningstarnevis.com

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is owned by foreign shareholders.

Management:

 

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.

Related Companies:

 

Despite our long searches, we could not identify any link or relation with the company Sicaro Group Corp.



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

2011

 

Turnover

0

 

Operating Income

3,600,000

 

Net Income

3,600,000

 

Net worth

8,000,000

 

Bank liabilities

0

 

The cash flow is

good

 



Comments on the financial data: The company being an offshore, it was not possible to verify the financial figures with the registered agent.

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

Rating

 

Local credit bureau did not rate this company.

 

 

 Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in the St. Kitts and Nevis, 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

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

GOOD

Public

NO

 

Indebtedness

NIL

Payments

REGULAR

 

Cash

GOOD

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.29

UK Pound

1

Rs.86.61

Euro

1

Rs.68.87

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.