|
Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CCJS INTERNATIONAL CO LTD. |
|
|
|
|
Registered Office : |
Offshore
Chambers, Apia, P. o. Box 217, Apia |
|
|
|
|
Country : |
Samoa |
|
|
|
|
Year of Establishments: |
2010 |
|
|
|
|
Legal Form : |
International Business
Company (IBC) |
|
|
|
|
Line of Business : |
Consultancy firm |
|
|
|
|
No. of Employees : |
02 |
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 : |
Moderate |
|
|
|
|
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) |
|
Samoa |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SAMOA - ECONOMIC
OVERVIEW
The economy of Samoa has traditionally been dependent on development
aid, family remittances from overseas, agriculture, and fishing. The country is
vulnerable to devastating storms. Agriculture employs roughly two-thirds of the
labor force and furnishes 90% of exports, featuring coconut cream, coconut oil,
and copra. The manufacturing sector mainly processes agricultural products. One
factory in the Foreign Trade Zone employs 3,000 people to make automobile
electrical harnesses for an assembly plant in Australia. Tourism is an
expanding sector accounting for 25% of GDP; 122,000 tourists visited the islands
in 2007. In late September 2009, an earthquake and the resulting tsunami
severely damaged Samoa, and nearby American Samoa, disrupting transportation
and power generation, and resulting in about 200 deaths. In December 2012,
extensive flooding and wind damage from Tropical Cyclone Evan killed four
people, displaced over 6,000, and damaged or destroyed an estimated 1,500 homes
in Samoa's Upolu island. The Samoan Government has called for deregulation of
the financial sector, encouragement of investment, and continued fiscal
discipline, while at the same time protecting the environment. Observers point
to the flexibility of the labor market as a basic strength for future economic
advances. Foreign reserves are in a relatively healthy state, the external debt
is stable, and inflation is low.
|
Source
: CIA |
|
Registered Name: |
CCJS
INTERNATIONAL CO LTD. |
|
Requested Name: |
CCJS INTERNATIONAL CO LTD. |
|
Other Names: |
None |
|
Physical Address: |
Offshore
Chambers, Apia, |
|
Postal Address: |
P.
o. Box 217, |
|
|
Apia, |
|
Country: |
Samoa |
|
Phone: |
685-21751 |
|
Fax: |
685-24166 |
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Email: |
None |
|
Website: |
None |
|
Legal Form: |
International Business
Company (IBC) |
|
|
Date Incorporated: |
2010 |
|
|
Reg. Number: |
Samoa |
|
|
Nominal Capital |
WST.
5,000 |
|
|
Subscribed Capital |
WST.
5,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Undisclosed |
Directors |
|
|
Atahk Group Ltd |
Trustee/Agent |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Consultancy firm |
|
|
Imports: |
None Stated |
|
Exports: |
None Stated |
|
Trademarks: |
None |
|
Terms of sale: |
None Stated |
|
|
|
|
Main Customers: |
Undisclosed |
|
Employees: |
2 employees. |
|
Vehicles: |
Samoa |
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Territory of sales: |
Offshore |
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Location: |
Undisclosed |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Samoan Tala (WST.) |
|
Approx. Ex. Rate: |
1 US Dollar = 2.33 Samoan
Tala |
|
Fiscal Year End: |
December 31, 2012 |
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2012 was of 13%. |
|
|
|
|
Financial Information not
Submitted |
|
|
Bank Name: |
ANZ
Bank (Samoa) Limited |
|
Branch: |
Samoa |
|
Comments: |
None |
|
This information was
obtained from outside sources other than the subject company itself. This Company is an
International Business Company (IBC), which is registered in Samoa It is difficult
to investigate such a Company due to the Samoa regulations protecting the
non-disclosure of the name of the shareholders. According to Samoa
business regulation, an International Business Company, is under no
obligation to state its directors, officers and shareholders, also it’s under
no obligation to file annual returns, prepare or submit company accounts to
any authority. The company is
incorporated with an agent who is also the legal officer who represents the
company. It is difficult to investigate
due to the Samoa regulations protecting the non-disclosure of the name of the
shareholders. We are reporting an
offshore company which belongs to foreign shareholders. Although it is
registered in the Samoa Islands, 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. However our
banking sources confirm that the company has good financial standing and
payments are regular. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
UK Pound |
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.