MIRA INFORM REPORT
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Report Date : |
21.05.2013 |
IDENTIFICATION DETAILS
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Name : |
TAYMOUTH LTD |
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Registered Office : |
Trust House, 112 Bonadie Street, P.O. Box 613, Kingstown |
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Country : |
St. Vincent and the Grenadines |
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Year of Establishments: |
1999 |
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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 : |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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St. Vincent and the Grenadines |
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 |
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.
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Source : CIA |
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IDENTIFICATION |
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Legal Name: |
Taymouth
Ltd |
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Legal Address |
Trust
House, 112 Bonadie Street, P.O. Box 613, Kingstown, St. Vincent and the
Grenadines (Registered Agent) |
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Telephone: |
(784) 457-1027
(Registered Agent) |
Registration Number : |
N.A. |
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Fax: |
(784) 457-1961
(Registered Agent) |
Legal Form: |
International Business
Company |
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Email: |
N.A. |
Registered in: |
St.
Vincent and the Grenadines |
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Website: |
N.A. |
Date Created: |
1999 |
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Manager: |
N.A. |
Date Incorporated: |
1999 |
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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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The sources consulted record no detrimental
legal or labor court information. |
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Public |
NO |
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Shareholders |
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Shareholders Parent
Company(ies): |
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The
company is owned by foreign shareholders. |
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Payments |
REGULAR |
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Related
Companies: |
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Through
outside sources we could learn that the subject would be related to: Taymouth
Group Limited engages in real estate development. The company develops
cottages. Taymouth Group Limited was incorporated in 2004 and is based in the
United Kingdom. However,
the subject being an offshore company, the link could not be verified. |
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Financials -
COMMERCIAL TRENDS AND FORECAST |
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As
a private company the subject does not publish any 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 |
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USD |
2012 |
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Turnover |
0 |
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Operating Income |
6,990,000 |
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Net Income |
6,990,000 |
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Net worth |
27,100,000 |
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Bank liabilities |
0 |
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The cash flow is |
good |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
0 |
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Operating Income |
3,840,000 |
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Net Income |
3,840,000 |
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Net worth |
10,000,000 |
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Bank liabilities |
0 |
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The cash flow is |
sufficient |
Comments on
the financial data: The company being an offshore, it was not possible to
verify the financial figures with the registered agent.
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FINANCIAL SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
GOOD |
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GEOPOLITICS - SAINT VINCENT AND THE
GRENADINES |
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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 XCD = 37.03 USD |
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BANKS |
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Name of the Bank |
HSBC |
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Account Number |
Confidential |
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Comments |
This
information was not verified by the registered agent. |
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BUSINESS |
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PRINCIPAL ACTIVITY |
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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 a local business. It
is not listed with the St. Vincent and the Grenadines 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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The
subject employs 0 employee(s) |
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Comments on staff: |
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The
company does not have any employee in St. Vincent and the Grenadines. It uses the registered agent staff. |
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PAYMENTS |
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made
on a 20 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: ST.
VINCENT TRUST COMPANY LTD Trust
House, 112 Bonadie Street, P.O.
Box 613, Kingstown, St.
Vincent and the Grenadines Tel:
784-457-1027 Fax:
784-457-1961 Email:
Stvtrust@vincysurf.com |
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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 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. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.04 |
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UK Pound |
1 |
Rs.83.61 |
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Euro |
1 |
Rs.70.68 |
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 |
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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.