MIRA INFORM REPORT
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Report Date : |
02.07.2013 |
IDENTIFICATION DETAILS
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Name : |
GREENFIELD TEA LTD |
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Registered Office : |
Suite 102, Blake Building, Corner Eyre & Hutson Street Belize City |
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Country : |
Belize |
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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
|
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 |
IDENTIFICATION
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Ordered as: |
GREENFIELD TEA LTD |
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Address in the order: |
Suite 102, Ground Floor, Blakebuilding, Corner Eyre & Hutson
Streets, Belize City |
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Legal Name: |
GREENFIELD TEA LTD |
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|
Legal Address |
Suite 102, Blake Building, Corner Eyre & Hutson Street Belize
City, Belize |
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Telephone: |
(501) 223-2839 |
Registration Number : |
N.A. |
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Fax: |
(501) 223-3004 |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
Belize |
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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: |
N.A. |
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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 Filings |
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With reference to your request
for a Business Credit Report on the above Subject, we hereby advise that
according to the Credit Bureau files there are no reports of any Credit
Delinquencies registered in the name of the subject Company or its given Directors.
In addition, there was no record of any High Court or Petty Civil
Court Judgments entered against the Company or its Directors in any civil
suit and/or litigation matter during the period of our Judgment searches (6
years). Based on our credit Bureau Data Base investigations we have found no
evidence of any Reported Credit Delinquency or delay /default /caution on
this Company. |
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Public |
NO |
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Shareholders |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is owned by foreign shareholders. The subject would be related to the company Greenfield Tea Limited in
the U.K. However, the subject being an offshore, the link could not be
verified. Greenfield Tea Limited is located at 66 Chiltern Street, London,
United Kingdom W1U 4JT, and is engaged in the manufacturing of tea. |
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Payments |
REGULAR |
N/a
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Financials - COMMERCIAL TRENDS AND FORECAST |
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The Subject Company is registered as an International Business
Company/ 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 |
|
USD |
2012 |
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Turnover |
0 |
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Operating Income |
1400000 |
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Net Income |
1400000 |
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Net worth |
6500000 |
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Bank liabilities |
0 |
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The cash flow is |
Good |
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FINANCIAL SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
GOOD |
N/a
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GEOPOLITICS - BELIZE |
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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 = 49.5159 USD |
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Name of the Bank |
BANCO POPULAR |
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PRINCIPAL
ACTIVITY |
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GREENFIELD TEA LTD is an International Business Company / Offshore
Company incorporated in Belize for tax purposes. Suite 102, Blake Building, Corner Eyre & Hutson Street Belize
City, Belize 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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PAYMENTS |
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made on a 30 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The Address mentioned above is that of the registered agent: Belize Formation Services Limited Suite 102, Blake Building, Corner Eyre & Hutson Street Belize City, Belize Telephone: (501) 223-2839 Fax: (501) 223-3004 E-mail: belize@trinityserv.com 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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Final Opinion |
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Payments are: made on a 30 days basis - monitored over the last 12
months. The cash flow is Good. 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 subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.15 |
|
|
1 |
Rs.90.05 |
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Euro |
1 |
Rs.77.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
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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.