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Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AUTUMN HARVEST MARITIME CO |
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Registered Office : |
80 Broad Street, City of Monrovia, Republic of Liberia |
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Country : |
Liberia |
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Date of Incorporation : |
03.04.2009 |
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Legal Form : |
International Business Company (IBC) |
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Line of Business : |
Shipping Company |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
International Business 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) |
|
Liberia |
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 |
LIBERIA - ECONOMIC OVERVIEW
Liberia is a low income country heavily reliant on foreign
assistance for revenue. Civil war and government mismanagement destroyed much of
Liberia's economy, especially the infrastructure in and around the capital,
Monrovia. Many businesses fled the country, taking capital and expertise with
them, but with the conclusion of fighting and the installation of a
democratically-elected government in 2006, several have returned. Liberia has
the distinction of having the highest ratio of direct foreign investment to GDP
in the world. Richly endowed with water, mineral resources, forests, and a
climate favorable to agriculture, Liberia had been a producer and exporter of
basic products, primarily raw timber and rubber and is reviving those sectors.
Local manufacturing, mainly foreign owned, had been small in scope. President
JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to
reduce corruption, build support from international donors, and encourage
private investment. Embargos on timber and diamond exports have been lifted,
opening new sources of revenue for the government and Liberia shipped its first
major timber exports to Europe in 2010. The country reached its Heavily
Indebted Poor Countries initiative completion point in 2010 and nearly $5
billion of international debt was permanently eliminated. This new status will
enable Liberia to establish a sovereign credit rating and issue bonds.
Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF
has completed the sixth review of Liberia's extended credit facility, bringing
total disbursements to over $379 million. The African Development Bank approved
a grant of $48 million in 2011 to support economic governance and
competitiveness. Rebuilding infrastructure and raising incomes will depend on
generous financial and technical assistance from donor countries and foreign
investment in key sectors, such as infrastructure and power generation. The
country has achieved high growth during 2010-12 due to favorable world prices
for its commodities.
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Source : CIA |
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COMPANY REPORTED: |
AUTUMN HARVEST MARITIME CO |
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Principal Address: |
80 Broad Street, City of Monrovia, Republic of Liberia |
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Telephone: |
+231-77000400 |
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Fax: |
+231-77000422 |
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Email: |
corporate@liscr.com |
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Internet: |
www.liberiancorporations.com |
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Established: |
03/04/2009 |
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Registration: |
Monrovia, Liberia |
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IMO: |
923104 |
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Legal Form: |
International Business Company (IBC) |
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Stock Listing: |
Not Listed |
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Workforce: |
2012 |
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3 |
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Office & Factories |
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Head offices |
80 Broad Street, City of Monrovia, Republic of Liberia |
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Branches |
None |
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Management/ Directors |
Not Indicated |
Na
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Company Profile: |
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Nominal Capital |
LRD. 1,000,000 |
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Shareholders |
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Name |
Position |
Amount |
Ratio |
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Undisclosed |
Directors |
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The LISCR Trust Company |
Agent |
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Total |
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100.00% |
Na
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Affiliated Companies |
None in Liberia |
Na
Na
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Business Activities |
Shipping Company |
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Credit Check of Subject, President & CEO (as of report
date) |
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Payment Morale: |
In the documents at our disposal nothing adverse has been
shown so far. |
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CREDIT RATING: |
Financial situation could not be ascertained |
This Company is an International Business Company (IBC), which
is registered in Liberia; According to the Liberian statutory law, The LISCR
Trust Company (“the Registered Agent”) acts as the exclusive Registered Agent
for all Liberian non-resident corporate entities.It is difficult to investigate
such a Company due to the Liberian regulations protecting the non disclosure of
the name of the shareholders.
According to Liberian 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.
In the absence of a payment pattern and financial
information, we would recommend that all dealings with the subject be on a
secured basis.
We recommend secured transaction only.
Na
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.54.24 |
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UK Pound |
1 |
Rs.84.29 |
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Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.