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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
GRAND MOUNTAIN CO LTD |
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Registered Office : |
60, Market square, |
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Country : |
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Date of Incorporation : |
2006 |
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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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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 : |
Offshore company |
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Payment Behaviour : |
Unknown |
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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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Belize |
B2 |
B2 |
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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 |
BELIZE - ECONOMIC OVERVIEW
Tourism is the number one foreign exchange earner in this small economy, followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered this growth. Exploration efforts have continued and production has increased a small amount. Growth slipped to 0% in 2009, and has remained at just over 2% per year during 2010-2012, as a result of the global slowdown, natural disasters, and a temporary drop in the price of oil. With weak economic growth and a large public debt burden, fiscal spending is likely to be tight. In September 2012, the government paid half of a $23 million interest payment that had been due in August 2012. In January 2013, the government announced that it had reached a deal with creditors to restructure its $544 million commercial external debt, commonly referred to as the "superbond." The superbond represents one half of the country's public debt. A key government objective remains the reduction of poverty and inequality with the help of international donors. Although Belize has the second highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor. The 2010 Poverty Assessment shows that more than 4 out of 10 people live in poverty. The sizable trade deficit and heavy foreign debt burden continue to be major concerns
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Source : CIA |
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IDENTIFICATION |
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Ordered as: |
GRAND MOUNTAIN CO LTD |
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Address in the order: |
60, Market square, P O Box 364, Belize City |
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Legal Name: |
GRAND MOUNTAIN CO LTD |
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Legal Address |
60, Market square, P O Box 364 |
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Postal Town |
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Post Code |
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Primary Geographic Area |
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Country |
BZ |
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Telephone: |
+1 973-380-0520 (Registered
Agent) |
Registration Number : |
N.A. |
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Fax: |
+1 973-380-0520 (Registered
Agent) |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
BZ |
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Website: |
N.A. |
Date Created: |
2006 |
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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: |
NA. |
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Activity: |
Offshore company |
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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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Legal Fillings |
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The sources
consulted record no detrimental legal or labor court information. |
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Shareholders - Manager - Related
Companies |
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Listed at the stock exchange: |
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NO |
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PAYMENTS |
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made on a 20 days basis - monitored over the last 12
months |
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Shareholders Parent Company(ies): |
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The subject is owned by foreign shareholders |
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Financials - COMMERCIAL TRENDS
AND FORECAST |
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The subject company is registered as an International
offshore company in Belize and is therefore exempt from filing and / or publishing
annual audited accounts at the registrar of companies, under Belize law. In
addition, due to the laws of privacy governing disclosure of BANKING
INFORMATION, we are unable to demand a copy of the subject's latest 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 |
2012 |
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Operating Income |
665 000 |
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Net Income |
665 000 |
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Net worth |
1 000 000 |
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The cash flow is |
Normal |
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Na
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Commonwealth Realm - Parliamentary system
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Currency: 100.00 BZD = 50.2525 USD |
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BANKS |
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Name of the Bank |
Banco Popular |
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BUSINESS |
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PRINCIPAL ACTIVITY |
GRAND MOUNTAIN CO LTD. is an international offshore company
incorporated in Belize for tax purposes. However the company does not carry any operation in
Belize. It is not registered with the Belize chamber of commerce
as being an active business. It is not listed with the Belize yellow pages. It is not listed with the major local credit bureaus. The company does not have any employee in Belize. It uses
the registered agent staff. |
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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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LOCATION |
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Headquarters |
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The address mentioned above is that of the registered
agent: 60 Market Square, PO Box 364Belize City, Belize The agent declined to give any information on the subject,
who is protected by the law of non disclosure. |
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Rating |
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Local credit bureau did not rate this company. |
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SUMMARY |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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Final Opinion |
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Payments are: Made on a 20 day basis - monitored over the
last 12 months. The cash flow is normal. We are reporting an offshore company which belongs to foreign
shareholders. Although it is registered in Belize, 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 request. |
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APPENDIX |
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Comments |
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We tried to contact the registered agent but nobody has
answered us. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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|
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 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.