MIRA INFORM REPORT

 

 

Report Date :

12.01.2013

 

IDENTIFICATION DETAILS

 

Name :

BALDI CYPRUS HOLDING LIMITED

 

 

Registered Office :

3 Thasou, Dadlaw House, Nicosia, 1520,

 

 

Country :

Cyprus

 

 

Date of Incorporation :

10.07.2012

 

 

Com. Reg. No.:

C309051

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Investment and Finance Company

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Business

 

 

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

BALDI CYPRUS HOLDING LIMITED

English Name

BALDI CYPRUS HOLDING LIMITED

Registered Address

3 Thasou, Dadlaw House, Nicosia, 1520, Cyprus

Headquarters:

3 Thasou, DADLAW HOUSE, Nicosia, 1520, PoBox 22360, Cyprus

Telephone

+35722769000

Fax

+35722769004

E-mail

dadlaw@cytanet.com.cy (correspondence e-mail)

Web Site

http://www.dadlaw.com.cy (correspondence web-site)

Legal Type

Limited Company

Registration No

C309051

Registration Date

10/07/2012

Start Date

10/07/2012

Years of Operation:

1

Last return

13/07/2012

Tax Reg No:

VAT:CY10309051Q

CINFO ID:

CYC23318976

 

 

 

 

Summary

 

Employees

January 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.

 

 

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.

 

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

2,000.00

EUR

Issued Capital

0.00

EUR

Nominal No Of Shares

2,000.00

 

Issued No Of Shares

2,000.00

 

Nominal value

1.00

EUR

Paid Up

2,000.00

EUR

 

 

Corporate Structure

 

Directors

Position

Acts As

ID

Occupation

Age

Appointed

Other dir.

MARKOULLI ANTIGONI

 

Director

 

782406(ID)

 

36

10/07/2012

Yes

 

15C Andoni Pavlidi, Kato Lakatameia, 2323, Nicosia, Cyprus

 

Other Directorship:

 

 

 

 

Name

 

Registration Date

Reg. No.

Status

Position

Update Date

 

 

M-BUILDING TRADE LIMITED

 

29/07/2010

C271355

Registered and operational

Director

30/03/2012

 

 

INFRATEC CONSULTING (CY) LIMITED

 

29/07/2010

C271655

Registered and operational

Director

29/03/2012

 

 

MAXDAY HOLDINGS LIMITED

 

14/03/2011

C283225

Registered and operational

Director

19/03/2012

 

 

ONECARD LIMITED

 

17/08/2009

C253798

Registered and operational

Director

21/01/2011

 

 

VTB CAPITAL PE MANAGEMENT HOLDING (CYPRUS) LIMITED

 

24/02/2010

C263010

Registered and operational

Director

11/01/2011

 

 

VTB CAPITAL IM HOLDING LIMITED

 

03/06/2010

C268353

Registered and operational

Director

10/01/2011

 

 

PALINA TRADING LIMITED

 

19/09/2007

C208413

Registered and operational

Director

02/03/2010

 

 

CASTILIA TRADING & INVESTMENTS LIMITED

 

04/09/2006

C183279

Registered and operational

Director

22/02/2010

 

 

PARONYMA INVESTMENTS LIMITED

 

04/10/2005

C166223

Registered and operational

Director

19/02/2010

 

 

TOWERGARDEN HOLDINGS LIMITED

*

04/10/2002

C133379

Bankrupted (after court decision or after self liquidation)

Director

08/04/2008

 

Other Shareholding:

 

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

 

TOWERGARDEN HOLDINGS LIMITED

*

04/10/2002

C133379

Bankrupted (after court decision or after self liquidation)

100

08/04/2008

 

DEMETRIADES D. HARRIS

 

Director

 

793087(ID)

 

34

10/07/2012

Yes

 

3 Thasou, Dadlaw House, Nicosia, 1520, Cyprus

 

Other Directorship:

 

 

 

 

Name

 

Registration Date

Reg. No.

Status

Position

Update Date

 

 

BBB INTERNATIONAL MINING SERVICES LIMITED

 

28/03/2011

C284155

Registered and operational

Director

04/01/2013

 

 

HELTRIONI TRADING & INVESTMENTS LIMITED

 

30/08/2005

C164831

Registered and operational

Director

13/12/2012

 

 

PARDETO HOLDINGS LIMITED

 

14/03/2011

C283221

Registered and operational

Director

16/11/2012

 

 

SUPPERSTONE HOLDINGS LIMITED

 

06/06/2001

C121292

Registered and operational

Director

27/09/2012

 

 

BURNHOPE TRADING & INVESTMENTS LIMITED

 

08/03/1999

C100633

Registered and operational

Director

07/08/2012

 

 

HKRB LIMITED

 

12/08/1999

C104197

Registered and operational

Director

02/08/2012

 

 

ARGOTRADE INVESTMENTS LIMITED

 

16/08/2006

C182084

Registered and operational

Director

02/07/2012

 

 

FIELDWALLS MANAGEMENT LIMITED

 

15/07/2009

C252395

Registered and operational

Director

21/06/2012

 

 

INVESTICOM MANAGEMENT LIMITED

 

16/12/2003

C144015

Registered and operational

Director

04/05/2012

 

 

AQUADUNE LIMITED

 

08/12/2008

C243177

Registered and operational

Director

18/04/2012

 

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

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

DEMETRIOS A. DEMETRIADES LLC

 

10/06/2010

C268654

Registered and operational

0.1

01/12/2010

 

DADLAW TRUSTEES LIMITED

 

21/06/1994

C62993

Registered and operational

0.01

21/09/2011

 

Secretary

Position

Acts As

ID

Occupation

Age

Appointed

Other dir.

 

DADLAW SECRETARIAL LIMITED

 

Company Secretary

 

C55320

 

0

10/07/2012

No

3 Thasou, Dadlaw House, Nicosia, 1520, Cyprus

 

 

Other Directorship:

 

 

 

Name

 

Registration Date

Reg. No.

Status

Position

Update Date

 

FIELDWALLS MANAGEMENT LIMITED

 

15/07/2009

C252395

Registered and operational

-

21/06/2012

 

 

Other Shareholding:

 

 

 

Name

 

Registration Date

Reg. No.

Status

%

Update Date

 

RIVERMILL INVESTMENTS LIMITED

 

20/02/2002

C128005

Registered and operational

71.41027

12/03/2012

 

COASTWELL HOLDINGS LIMITED

 

01/06/2011

C288003

Registered and operational

50

02/04/2012

 

COASTARROW TRADING LIMITED

 

22/01/2002

C127311

Registered and operational

50

19/07/2007

 

INVESTICOM MANAGEMENT LIMITED

 

16/12/2003

C144015

Registered and operational

50

04/05/2012

 

FIELDWALLS MANAGEMENT LIMITED

 

15/07/2009

C252395

Registered and operational

50

21/06/2012

 

HKRB LIMITED

 

12/08/1999

C104197

Registered and operational

50

02/08/2012

 

BURNHOPE TRADING & INVESTMENTS LIMITED

 

08/03/1999

C100633

Registered and operational

50

07/08/2012

 

C.D.J. INVESTMENTS LIMITED

 

11/08/1997

C88092

Registered and operational

50

18/09/2012

 

PARDETO HOLDINGS LIMITED

 

14/03/2011

C283221

Registered and operational

50

16/11/2012

 

BBB INTERNATIONAL MINING SERVICES LIMITED

 

28/03/2011

C284155

Registered and operational

50

04/01/2013

 

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

 

 

 

 

Shareholders

ID / Reg. No.

Acts As

Nationality

Shares

%

Shares Breakdown

Class

Type

 

 

 

BALDI RETAIL LTD

 

 

 

-

2000

100

-

-

-

 

 

207 Regent Street, 3rd Floor, London, W1B 3HH, United Kingdom

 

Other Directorship:

 

No Information Found

 

 

 

 

 

 

 

 

 

Other Shareholding:

 

No Information Found

 

 

 

 

 

 

 

 

 

Operation

 

Activity Code

Description

NACE 1.1

65.23

Other financial intermediation n.e.c.

 

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.

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: Demetrios A. Demetriades LLC, 3, Thasou Street, Dadlaw House, 1520 Nicosia, Tel: 22769000.

 

 

 

 

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:

3 Thasou, DADLAW HOUSE, Nicosia, 1520, PoBox 22360, Cyprus

 

Headquarters comprise of

Offices

 

Headquarters operate as:

correspondence office

 

 

 

 

 

 

Affiliates and Subsidiaries

Relation

Year Reg.

 

BALDI RETAIL LTD

Parent Company

 

 

207 Regent Street, 3rd Floor, London, W1B 3HH, United Kingdom

 

 

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 10/07/2012. 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 Demetrios A. Demetriades LLC, 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:

11/01/2013

 

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:

2

 

2

Last 3 months:

 

 

1

Last 1 month:

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.54

UK Pound

1

Rs.88.05

Euro

1

Rs.72.29

 

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.