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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
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Name : |
NEDELLA CORPORATION |
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Registered Office : |
PO Box No. 556 Main Street Charins Town Navis |
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Country : |
Saint Kitts and Nevis |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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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Saint Kitts and Nevis |
C1 |
C1 |
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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 |
Saint Kitts and Nevis ECONOMIC OVERVIEW
The economy of
Saint Kitts and Nevis depends on tourism; since the 1970s tourism has replaced sugar
as the traditional mainstay of the economy. Following the 2005 harvest, the
government closed the sugar industry, after several decades of losses. To
compensate for lost jobs, the government has embarked on a program to diversify
the agricultural sector and to stimulate other sectors of the economy, such as
export-oriented manufacturing and offshore banking. Roughly 200,000 tourists
visited the islands in 2009, but reduced tourism arrivals and foreign
investment led to an economic contraction in 2009-2012, and the economy has not
yet returned to growth. Like other tourist destinations in the Caribbean, St.
Kitts and Nevis is vulnerable to damage from natural disasters and shifts in
tourism demand. Furthermore, the government is constrained by one of the
world''s highest public debt burdens - equivalent to roughly 140% of GDP in
2012 - largely attributable to public enterprise losses.
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Source : CIA |
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IDENTIFICATION |
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Legal Name: |
NEDELLA CORPORATION |
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Legal Address |
PO Box No. 556 Main Street Charins Town Navis St Kitts and Nevis |
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Telephone: |
+1-869-469-1817 |
Registration Number : |
NA |
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Fax: |
NA |
Legal Form: |
International Business Company |
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Email: |
NA |
Registered in: |
Saint Kitts and Nevis |
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Website: |
NA |
Date Created: |
NA |
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Manager: |
NA |
Date Incorporated: |
NA |
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Staff: |
0 |
Stock: |
NA |
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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 Filings |
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The
sources consulted record no detrimental legal or labor court information. |
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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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Shareholders - Manager
- Related Companies |
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Shareholders Parent Company(ies): |
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The company 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 Business
Company/ Offshore Company in Saint Kitts and Nevis and is therefore exempt
from filing and/or publishing Annual Audited Accounts at the Registrar of
Companies, under Saint Kitts and Nevis 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. |
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Currency |
DATE |
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USD |
2012 |
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Turnover |
0 |
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Operating Income |
9 350 000 |
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Net Income |
9 350 000 |
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Net worth |
40 500 000 |
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Bank liabilities |
0 |
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The cash flow is |
Good |
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Comments on the financial data: This information was not verified by the
company. |
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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 XCD = 37.0370 USD |
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BANKS |
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Name of the Bank |
First Caribbean International Bank |
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Comments |
This information was not verified by the company. |
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BUSINESS |
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PRINCIPAL
ACTIVITY |
NEDELLA CORPORATION is an International Business Company / Offshore Company
incorporated in Saint Kitts and Nevis for tax purposes. However the company does not carry any
operation in Saint Kitts and Nevis. It is not registered with the Saint Kitts and Nevis Chamber of
Commerce as being an active business. It is not listed with the Saint Kitts and Nevis yellow pages. It is not listed with the major local credit bureaus. |
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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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Comments on
staff: |
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The company does not have any employee in Saint Kitts and Nevis. It
uses the registered agent staff. |
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LOCATION |
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Headquarters |
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PO Box No. 556 Main Street Charins Town Navis St Kitts and Nevis |
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Comments on location: |
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The Address mentioned above is that of the registered agent. 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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We are reporting an offshore company which belongs to foreign shareholders.
Although it is registered in Saint Kitts and Nevis, 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. |
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APPENDIX |
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Comments |
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We contacted the registered agent's office but the person we talked to
refused to disclose any information on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
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UK Pound |
1 |
Rs.91.16 |
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Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.