MIRA INFORM REPORT

 

 

 

Report Date :

02.05.2013

 

IDENTIFICATION DETAILS

 

Name :

TAYMOUTH LTD

 

 

Registered Office :

Trust House, 113 Bonadse Street, Kirgstown

 

 

Country :

St. Vincent and the Grenadines

 

 

Year of Establishment :

1999

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Finance and Investment

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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)

St. Vincent and the Grenadines

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ST. VINCENT AND THE GRENADINES - ECONOMIC OVERVIEW

 

Success of the economy hinges upon seasonal variations in agriculture, tourism, and construction activity as well as remittance inflows. Much of the workforce is employed in banana production and tourism, but persistent high unemployment has prompted many to leave the islands. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2008, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines, a drop of nearly 20% from 2007. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high public debt burden, which was 68% of GDP at the end of 2011. GDP grew on average 6% annually from 2002-07, but contracted between 2008-10 as a result of the global economic downturn; growth remains slow

 

Source : CIA

 

GEOPOLITICS

 

POLITICAL DATA

ECONOMIC DATA

Form of Government

Commonwealth Realm - Parliamentary system

Economic Risk

Nil

Currency

100 XCD = 37.24 USD

Branch Situation

Stable

 

 

IDENTIFICATION

 

Company Name:
Trade Name:

Taymouth Ltd

Legal Address

Trust House, 113 Bonadse Street, Kirgstown, St Vincent and the Grenadines

PHONE:

N.A.

Fax:

N.A.

Email:

N.A.

Website

N.A.

MANAGERS

N.A.

Staff

Nil

:

N.A.

Legal Form

International Business Company

Registered in:

St Vincent and the Grenadines

Date Created:

1999

Date Incorporated:

1999

Stock

N.A.

Value

N.A.

Activity:

Finance and Investment

 

 

BANKS

 

Name of the Bank

HSBC

 

 

 

 

BUSINESS

 

Activity:

 


TAYMOUTH LIMITED is an International Business Company / Offshore Company incorporated in St. Vincent and the Grenadines for tax purposes.

However the company does not carry any operation in St. Vincent and the Grenadines.

It is not registered with the St. Vincent and the Grenadines Chamber of Commerce as being an active business

It is not listed with the St. Vincent and the Grenadines yellow pages.

It is not listed with the major local credit bureaus.


The company does not have any employee in St. Vincent and the Grenadines. It uses the registered agent staff.


Trade references : 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.

 

 

Location :

 


The address was not completed enough for us to identify the registered agent.

 

 

SHAREHOLDERS - MANAGERS - RELATED COMPANIES

 

SHAREHOLDERS Parent Company(ies):


The company is owned by foreign shareholders.

 

 

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

 

The Subject Company is registered as an International Business Company/ Offshore Company in St. Vincent and the Grenadines and is therefore exempt from filing and/or publishing Annual Audited Accounts at the Registrar of Companies, under St. Vincent and the Grenadines 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.

However our financial sources could provide us with the following information:

 

Currency

DATE

USD

2008

Turnover

0

Operating Income

3,840,000

Net Income

3,840,000

Net worth

10,000,000

Liabilities

0



Debentures/Mortgages/Charges:

Our Legal searches in the Credit Bureau Data Base of St. Vincent and the Grenadines and the Companies registration file have revealed no evidence of any current registered Mortgage, Chattel Mortgage or Debentures filed in the name of the Company

.Other relevant data:

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 in St. Vincent and the Grenadines.

In addition, there was no record of any High Court or Petty Civil Court Judgments entered against the Company in any civil suit and/or litigation matter in St. Vincent and the Grenadines 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 subject Company’s part in meeting any past trade or financial obligation strictly in accordance with terms in St. Vincent and the Grenadines.

 

 

RATING


Local credit bureau did not rate this company.

Payments are: made on a 55 days basis - monitored over the last 12 months.

The cash flow is Normal.


Our Final opinion:

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in the St. Vincent and the Grenadines, 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.

 

SUMMARY

 

FINANCIAL SUMMARY

DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

NIL

Payments

REGULAR

Cash

SUFFICIENT

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.21

UK Pound

1

Rs.84.00

Euro

1

Rs.70.97

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.