MIRA INFORM REPORT

 

 

Report Date :

08.02.2013

 

IDENTIFICATION DETAILS

 

Name :

MONDON INVESTMENTS LIMITED

 

 

Registered Office :

Thessalonikis, Nicolaou Pentadromos Center, 6th Floor, Apt. 606, Limassol, 3025

 

 

Country :

Cyprus

 

 

Date of Incorporation :

09.11.2006

 

 

Com. Reg. No.:

C186889

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Subject is involved in Investment Activities.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Offshore 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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Cyprus

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

CypRus - ECONOMIC OVERVIEW

 

The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for four-fifths of GDP. Tourism, financial services, and real estate are the most important sectors. Erratic growth rates over the past decade reflect the economy's reliance on tourism, the profitability of which often fluctuates with political instability in the region and economic conditions in Western Europe. Nevertheless, the economy in the area under government control has grown at a rate well above the EU average since 2000. Cyprus joined the European Exchange Rate Mechanism (ERM2) in May 2005 and adopted the euro as its national currency on 1 January 2008. An aggressive austerity program in the preceding years, aimed at paving the way for the euro, helped turn a soaring fiscal deficit (6.3% in 2003) into a surplus of 1.2% in 2008, and reduced inflation to 4.7%. This prosperity came under pressure in 2009, as construction and tourism slowed in the face of reduced foreign demand triggered by the ongoing global financial crisis. Although Cyprus lagged behind its EU peers in showing signs of stress from the global crisis, the economy tipped into recession in 2009, contracting by 1.7%, and has been slow to bounce back since, posting an anemic growth rate of 1.0% in 2010. A massive munitions blast in July 2011 at a Cypriot naval base triggered country-wide energy outages, a collapse of the governing coalition, and a cabinet shuffle intensifying Cyprus's economic problems. The economy experienced no economic growth in 2011. Serious Cypriot financial sector problems surfaced in early 2011 as the Greek fiscal crisis and euro zone debt crisis deepened. Two of Cyprus's biggest banks are among the largest holders of Greek bonds in Europe and have a substantial presence in Greece through bank branches and subsidiaries. A liquidity squeeze is choking the financial sector and the real economy as many global investors doubt the Cypriot economy can weather the EU crisis. Cyprus's borrowing costs have risen steadily because of its exposure to Greek debt. The budget deficit is on the rise and reached 7.4% of GDP in 2011, a violation of the EU's budget deficit criteria - no more than 3% of GDP. In response to the country's deteriorating finances and serious risk of contagion from the Greek debt crisis, Nicosia is promising to implement measures to cut the cost of the state payroll, curb tax evasion, and revamp social benefits. However, it has been slow to act, lacking a consensus in parliament and among the social partners for its proposed measures.

 

Source : CIA

 

 

 
Basic Information

 

 

Registered Name

MONDON INVESTMENTS LIMITED

English Name

MONDON INVESTMENTS LIMITED

Registered Address

Thessalonikis, Nicolaou Pentadromos Center, 6th Floor, Apt. 606, Limassol, 3025, Cyprus

Headquarters:

Thessalonikis, Nicolaou Pentadromos Center, Office 1002, Limassol, PoBox 56850, Cyprus

Telephone

+35725850000

Fax

+35725850055

E-mail

asoted@asoted.com (correspondence email)

Web Site

http://www.asoted.com (correspondence website)

Legal Type

Limited Company

Registration No

C186889

Registration Date

09/11/2006

Start Date

09/11/2006

Years of Operation:

7

Last return

08/05/2012

 

 

CINFO ID:

CYC23072790

 

 

 

 

 

Summary

 

 

 

 

Employees

February 2013

 

 

 

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:

Legal Advisor: PANAGIOTIS MOUAIMIS, 6 Vasili Vryonidi, Gala Court Chambers, 1st Floor, Off. 101 & 102, 3095, Limassol

Correspondence: SOUZAN KALOGRAIADOU, P.O.Box. 56850, 3310, Limassol, Tel. 25850025

 

 

 

Payment

 

 

 

 

 

 

 

Assessment:

Nil Rating

Payment Habits:

NO COMPLAINTS

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

 

Commercial morality

Unable to comment

Given that the present is an International Business Company - IBC (Offshore Company) and most of its activities are carried out outside Cyprus, coupled with the fact that no further detailed financial information is available, we feel unable to express a safe and reliable opinion on their creditability and commercial morality of the subject.

 

Financial strength

Unable to comment

 

 

 

 

 

 

 

Business History

 

 

 

 

 

 

 

 

Date

Event Name

Old Value

New Value

04/01/2007

Shares number changed

1000

100000

04/01/2007

Nominal number of shares Changed

5000

500000

04/01/2007

Nominal Value of Shares Decreased

1.00 EUR

0.01 EUR

 

 

 

 

 

 

 

Previous Locations

 

 

 

 

 

 

Registered

From:

To:

Thessalonikis, Nicolaou Pentadromos Centre, 10th Floor, Apt. 1002, Limassol, 3025, , Cyprus,

09/11/2006

28/11/2008

 

Capital

 

 

 

Authorized Capital

5,000.00

EUR

Issued Capital

0.00

EUR

Nominal No Of Shares

500,000.00

 

Issued No Of Shares

100,000.00

 

Nominal value

0.01

EUR

Paid Up

1,000.00

EUR

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Structure

 

 

 

 

 

 

Directors

Position

Acts As

ID

Occupation

Age

Appointed

Other dir.

 

 

 

KALOGREADES SUSANNE

 

Director

 

601907(ID)

Private Employee

55

09/11/2006

Yes

 

112 Misiaouli & Kavazoglou, Limassol, 3016, Cyprus

 

Other Directorship:

 

 

 

Name

 

Registration Date

Reg. No.

Status

Position

Update Date

 

INGLETON PROPERTIES LIMITED

*

12/02/2004

C145592

Registered and operational

Director

10/12/2012

 

OSTRELLA LIMITED

 

10/05/2011

C286605

Registered and operational

Director

22/11/2012

 

KONKUR INVESTMENTS LIMITED

 

03/12/2010

C278048

Registered and operational

Director

13/11/2012

 

VEBECA HOLDINGS LIMITED

 

22/05/2008

C229671

Registered and operational

Director

04/10/2012

 

PETERSFIELD HOLDINGS LIMITED

 

16/01/2006

C170740

Registered and operational

Director

04/10/2012

 

MELTFIELD HOLDINGS LIMITED

 

16/01/2006

C170742

Registered and operational

Director

04/10/2012

 

CHAUSSEY HOLDINGS LIMITED

 

02/06/2005

C161478

Registered and operational

Director

03/10/2012

 

BELLINGEN INVESTMENTS LIMITED

 

09/08/2006

C181756

Registered and operational

Director

03/10/2012

 

LONGENVILLE INVESTMENTS LIMITED

 

27/05/2005

C161297

Registered and operational

Director

03/10/2012

 

YELDHALL INVESTMENTS LIMITED

 

10/11/2010

C276704

Registered and operational

Director

26/09/2012

 

Note: In order to view a full list please order a directorship report.

 

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

MIRLAND DEVELOPMENT CORPORATION PLC

 

10/11/2004

C153919

Registered and operational

0

21/01/2008

 

 

 

 

 

 

ATHANASIOU GIORGOS

 

Director

 

646148(ID)

Accountant

48

15/06/2009

Yes

 

7 Voudapestis, Georgina Court B, Apt. 208, Limassol, 3091, Cyprus

 

Other Directorship:

 

 

 

Name

 

Registration Date

Reg. No.

Status

Position

Update Date

 

TRAVELMASTERS TOURS LIMITED

 

05/10/1983

C20465

Registered and operational

Director

28/05/2012

 

TIBERTON YARD FINANCE LIMITED

 

13/03/2008

C225171

Registered and operational

Director

26/01/2012

 

KEN RENEWABLE HOLDING LTD

 

25/01/2008

C220462

Registered and operational

Director

07/03/2011

 

 

 

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

MIRLAND DEVELOPMENT CORPORATION PLC

 

10/11/2004

C153919

Registered and operational

0

07/12/2009

 

 

 

 

 

 

ODED SHAMIR

 

Director

 

10517846(Passport)

Businessman

58

15/06/2009

No

 

34 Bustanai, Ramat Hasharon, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

 

 

 

Secretary

Position

Acts As

ID

Occupation

Age

Appointed

Other dir.

 

 

 

ASOTED SECRETARIAL LIMITED

 

Company Secretary

 

C60204

 

0

09/11/2006

No

 

Thessalonikis, Nicolaou Pentadromos Center, 10th Floor, Apt. 1002, Limassol, 3025, Cyprus

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders

ID / Reg. No.

Acts As

Nationality

Shares

%

Shares Breakdown

Class

Type

 

 

 

INDUSTRIAL BUILDING CORPORATION LTD

 

 

 

-

35990

35.99000

-

-

-

 

 

11 Hamenofin Str., Ackerstein Towers, Herzliya Pituach, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

SVITLAND DEVELOPMENT LIMITED

 

16/01/2006

C170699

Registered and operational

32

05/05/2008

 

MIRLAND DEVELOPMENT CORPORATION PLC

 

10/11/2004

C153919

Registered and operational

27.03799

22/03/2011

 

 

 

 

 

 

JERUSALEM ECONOMIC CORPORATION LIMITED

 

 

 

-

35990

35.99000

-

-

-

 

 

24 Canfei Nesharim Street, 1241, Jerusalem, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

SKALAR LTD

 

 

 

-

17990

17.99000

-

-

-

 

 

20 Lincoln St., Rubinstein House, Tel Aviv, 67134, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

MIGDAL INSURANCE COMPANY LTD

 

 

 

-

10000

10

-

-

-

 

 

4 Ef'al Steet, Petach Tikva, 49512, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

HACHEVRA LEPITUACH HAMALACHA LTD

 

 

 

-

10

0.01000

-

-

-

 

 

11 Hamenofin Street, Ackerstein Towers, Herzliya Pituach, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

DARBAN INVESTMENTS LIMITED

 

 

 

-

10

0.01000

-

-

-

 

 

20 Lincoln street, Rubinstein House, Tel Aviv, 67134, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

MIRLAND DEVELOPMENT CORPORATION PLC

 

10/11/2004

C153919

Registered and operational

13.51899

22/03/2011

 

 

 

 

 

 

HAKAL BNIYA UPIKUH LTD

 

 

 

-

10

0.01000

-

-

-

 

 

24 Canfei Nesharim Str, Jerusalem, Israel

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

 

Operation

 

Activity Code

Description

NACE 1.1

65.2

Other financial intermediation

 

NACE 2.1

6419

Other monetary intermediation - This class includes the receiving of deposits and/or close substitutes for deposits and extending of credit or lending funds. The granting of credit can take a variety of forms, such as loans, mortgages, credit cards etc. These activities are generally carried out by monetary institutions other than central banks, such as: - banks - savings banks - credit unions - This class also includes: - postal giro and postal savings bank activities - credit granting for house purchase by specialised deposit-taking institutions - money order activities - This class excludes: - credit granting for house purchase by specialised non-depository institutions, see 64.92 - credit card transaction processing and settlement activities, see 66.19

 

 

 

 

       

 

Line of Business

 

According to the article of Association, the company in question was established in order to get involved with Investment 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 registered in Cyprus.

Please note that through desk research it was obtained that Mondon Investments Ltd offers real estate management and development services and is based in India; however this could not be confirmed from official sources.

Businesses in this line do not normally require extensive trade credit.

Business Activities
Investment and Finance Company
Investments
Investment Consultants

Industry Classifications - NAICS
» Investment Banking and Securities Dealing NAICS # 52311
» Securities, Commodity Contracts, and Other Financial Investments and Related Activities NAICS # 523
» Investment Advice NAICS # 52393

Correspondence: Asoted Services Limited, Thessalonikis Street, Nicolaou Pentadromos Centre, 10th Floor, Office 1002, 3025 Limassol, Cyprus, Tel:357 25850000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Territory

 

 

 

 

 

 

 

 

International Presence

100%

 

Subject is an International Business Company (IBC) with no offices of its own in Cyprus.

 

 

 

 

 

 

 

 

 

 

Premises

 

 

 

 

 

 

 

 

Type

headquarters

 

Address:

Thesalonikis, Nicolaou Pentadromos Center, Office 1002, Limassol, PoBox 56850, Cyprus

 

Headquarters comprise of

Offices

 

Headquarters operate as:

correspondence office

 

 

 

 

 

 

 

 

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

 

 

 

 

Additional Information

MAIN SOURCES OF INFORMATION

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 09/11/2006. According to the article of association the company acts as an investment company. 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%.

Furthermore, 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 Asoted Services Limited, where we talked with a, company representative, who refused to release any information such as if the company maintains offices of its own in Cyprus due to the confidentiality policy owed to their clients. A written questionnaire was sent in order to forward it to the company in question for us. There was no reply up to now. Should any additional information becomes available we will forward them to you as soon as possible.

Please note that the information included in the report was obtained from the Official Companies’ Registrar. Please note that no detailed Financial Information became available to us; neither it was released by the subject. Please note that the latest financial details are not available at the file of the company at the official companies' registry house; as the law provides for all companies.

A check against our revealed that no negative payment incidents against Subject Company, such as unpaid invoices, dishonoured cheques and utility bills, bankruptcies exist etc.

 

 

 

Contact Information

 

 

 

 

 

 

Interview Date:

08/02/2013

 

Name:

Non Retrievable

 

Quality:

company

 

 

 

Title:

representative

 

 

 

Declined

 

Any info

 

A questionnaire was sent - no reply received

 

 

News

 

 

http://www.globes.co.il/serveen/globes/docview.asp?did=1000199195

04/04/2007

 

Fishman Holdings’ Indian real estate subsidiary Mondon Investments Ltd. has filed a draft prospectus with the Israel Securities Authority for a bond issue on the Tel Aviv Stock Exchange (TASE). Fishman Holdings owns 10% of Mondon directly, with subsidiaries owning the rest as follows: Darban Investments Ltd. (TASE: DRBN) - 18%; Jerusalem Economic Corp. (TASE:ECJM) (JEC) - 36%; and Industrial Buildings Corp. (TASE: IBLD) 36%. Tao Tsuot Ltd. (TASE: TAO-M) owns a fifth of Darban. Mondon is already involved in two developments: in January, it signed a deal to buy land in New Delhi for $46 million; and a few days later, it signed a deal to buy land in Thane, near Mumbai, for a $330 million projects. Eliezer Fishman is the controlling shareholder in “Globes”.

 

 

http://www.livemint.com/Money/U9Zd8Zt4knAohk0adW0axL/Isreali-real-estate-firm-to-invest-1bn-in-Ludhiana.html

08/01/2008

 

Jerusalem: With India being dubbed as the ‘next big destination´ in real estate here, Israeli real estate firm Fishman Holdings is planning to invest $1 billion in Ludhiana. The latest investment plan in India comes close on the heels of another project it embarked upon last month in Jaipur to build a township at the cost of $2 billion, business daily ‘Globes´ reported. Fishman Holdings’ Indian real estate development subsidiary, Mondon Investments Ltd, has signed an MoU to buy a 300 acre plot in Ludhiana for $84 million. Mondon is planning a 2.3 million square metre residential and commercial project on the site, assuming that the entire lot is purchased. The entire cost, including the land, is estimated to be about $1 billion. The land was purchased for $280,000 per acre with Mondon reaching an agreement with the seller that if the size of the plot falls below 300 acres, provided that it is no less than 100 acres, the price will be reduced to $238,000 per acre, it added. The firm is already involved in a number of development projects in India, including residential and commercial projects in New Delhi, Thane, Hyderabad, and another project in Ludhiana.

 

 

http://debockgroup.com/WhyInvest.aspx

08/02/2013

 

Recently, Fishman Holdings' Indian real estate development subsidiary, Mondon Investments Ltd., bought a 600-acre plot in Jaipur for $108 million for building a four million square meter integrated township which will include residential units, commercial space, offices, and high-tech space at a whopping investment of $2 billion. .

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.14

UK Pound

1

Rs.83.26

Euro

1

Rs.71.93

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.