MIRA INFORM REPORT

 

 

Report Date :

26.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BURGDIMUS LIMITED

 

 

Registered Office :

10 Georgiou Gennadiou, Agathangelos Court, Off. 403, Limassol, 3041

 

 

Country :

Cyprus

 

 

Date of Incorporation :

25.08.2011

 

 

Com. Reg. No.:

C292634

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Company deals with general trade

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New 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)

Cyprus

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Basic Information

 

Registered Name

BURGDIMUS LIMITED

English Name

BURGDIMUS LIMITED

Registered Address

10 Georgiou Gennadiou, Agathangelos Court, Off. 403, Limassol, 3041, Cyprus

Headquarters:

10 Georgiou Gennadiou, Agathangelos Court, Off. 403, Limassol, 3041, Cyprus

Telephone

+35725345010

Fax

+35725818852

E-mail

julia.dalianidou@eltoma-offshore.com (Correspondence email)

WebSite

http://www.eltoma-cyprus.com (Correspondence web-site)

Legal Type

Limited Company

Registration No

C292634

Registration Date

25/08/2011

Start Date

25/08/2011

Years of Operation:

1

Last return

25/08/2011

 

 

 

 

Summary

 

 

Employees

May 2012

 

 

 

Company

 

 

 

 

 

Total Number

Not Available

 

 

 

 

 

 

The company does not maintain offices in Cyprus. At least we did not trace any. Under these circumstances no staff is employed. In such cases, companies utilize staff (2-3 people) from their auditors’ or lawyers’ offices.

 

Additional Info:

Correspondence: ELTOMA HOLDINGS LTD; P.O. Box 50716, 3608, Limassol. Tel.: 357 25345010.

 

 

 

 

Payment

 

Assessment:

N Rating

Payment Habits:

NO COMPLAINTS

A check against all available information sources revealed that no late payment incidents against Subject Company exist.

 

Good for amount and terms of inquiry:

Unable to comment

Given the fact that no detailed financial statements were released to us , we feel unable to comment on a maximum credit.

 

Commercial morality

Too Early To Comment

Given the fact that the company is newly established, coupled with the fact that this is an IBC (Offshore Company) and most of its activities are carried out outside Cyprus, we feel unable to express a safe and reliable opinion on their creditability and commercial morality of the subject, or comment on the amount and terms of your inquiry / suggest a maximum credit.

 

Financial strength

Too Early To Comment

 

 

 

 

Capital

 

Authorized Capital

1,000.00

EUR

Issued Capital

0.00

EUR

Nominal No Of Shares

1,000.00

 

Issued No Of Shares

100.00

 

Nominal value

1.00

EUR

Paid Up

100.00

EUR

 

 

Corporate Structure

 

Directors

Position

ActsAs

ID

Occupation

Age

Appointed

Other dir.

 

GEORGIOU MARIA

 

Director

 

(-)

 

 

25/08/2011

No

5 Perikli Markari, Kapsalos, 3083, Limassol, Cyprus

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

Secretary

Position

ActsAs

ID

Occupation

Age

Appointed

Other dir.

 

ELTOMA HOLDINGS LIMITED

 

Company Secretary

 

C149028

 

0

25/08/2011

Yes

40 Kefallinias, 1st Floor, Limassol, 3107, Cyprus

Other Directorship:

 

 

 

Name

 

Registration Date

RegNo

Status

Position

Update Date

 

GRELAN LIMITED

 

28/08/2007

C206525

Registered and operational

Director / Secretary

26/03/2010

 

TDH TRINITY GLOBAL LIMITED

 

27/12/2005

C169914

Registered and operational

Director

10/07/2009

 

VILMORE TRADE LIMITED

 

27/01/2006

C171397

Registered and operational

Director / Secretary

08/07/2009

 

TAFKING LIMITED

 

27/01/2006

C171352

Registered and operational

Director / Secretary

08/07/2009

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

Shareholders

ID / Reg. No.

ActsAs

Nationality

Shares

%

Shares Breakdown

Class

Type

 

 

 

ELTOMA CORPORATE SERVICE LIMITED

 

65956

 

-

100

100

-

-

-

 

 

1 Mapp Street, Belize City, Belize

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

RegNo

Status

%

Update Date

 

VEDDEL LIMITED

 

20/02/2008

C223416

Registered and operational

100

04/11/2011

 

NEVOTECH LIMITED

 

31/12/2007

C219111

Registered and operational

100

26/08/2009

 

EAST ASSON LIMITED

 

27/02/2008

C224044

Registered and operational

100

09/08/2010

 

 

 

 

 

Operation

 

 

 

 

Activity Code

Description

US SIC 1987

5191

Farm supplies wholesale dealing in

 

US SIC 1987

6799

Investors, not elsewhere classified

 

 

 

 

 

 

 

 

 

Line of Business

According to the Article of Associations the current company deals with general trade although this was not confirmed. However the article makes provision for other activities as well.

 

 

 

 

 

 

 

 

 

Export to

Percentage

 

Comments

The subject does not engage in any export activities.

 

 

 

 

 

 

 

 

 

 

 

 

 

Import from

Percentage

 

Comments

The subject does not engage in any import activities.

 

 

 

 

 

 

 

 

 

 

 

Market Terittory

 

 

 

 

 

 

 

 

International Presence

100%

 

Premises

 

 

 

 

 

 

Type

headquarters

Address:

10 Georgiou Gennadiou, Agathangelos Court, Off. 403, Limassol, 3041, Cyprus

Headquarters comprise of

Offices

Headquarters operate as:

correspondence office

 

 

Affiliates and Subsidiares

Relation

Year Reg.

 

ELTOMA CORPORATE SERVICE LIMITED

Parent Company

2008

 

1 Mapp Street, Belize City, Belize

 

NEVOTECH LIMITED

Associated

2007

 

10 Georgiou Gennadiou, AGATHANGELOS COURT,4th Floor, Office 403, Limassol, 3041, Cyprus

 

VEDDEL LIMITED

Associated

2008

 

10 Georgiou Gennadiou, Agathangelos Court, Apt. 403, Limassol, 3041, Cyprus

 

EAST ASSON LIMITED

Associated

2008

 

10 Georgiou Gennadiou, Agathangelos Court, Apt. 403, Limassol, 3041, Cyprus

 

 

Charges

 

No

Date registered

Date prepared

Type

Description/No

Amount

Sequence

Beneficiary

0

N/A

N/A

N/A

N/A

N/A

N/A

No charges found

 

 

Negatives

 

No negative data

 

 

Financial Statement

 

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. Infocredit Negative Record Database

viii. Relationship/Directorship Search through Infocredit Database

The present is an International Business Company - IBC (ex - Offshore Company) registered in Cyprus on 25.08.2011. According to the article of association the company is involved in general trade. 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 ELTOMA HOLDINGS LTD, 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

 

Name:

Not Available

Quality:

company

 

 

Title:

representative

 

 

Declined

Any info

A questionnaire was sent - no reply received

 

 

Recent Enquiries

 

 

Recent Enquiries on this subject

 

 

Last 6 months:

1

 

 

 

 

1

 

 

 

Last 3 months:

 

 

 

 

1

 

 

 

Last 1 month:

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.73

UK Pound

1

Rs.87.26

Euro

1

Rs.69.84

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.