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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SEMELE MARITIME COMPANY LIMITED |
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Registered Office : |
Governors Square, West Bay Road, Lime Tree Bay Road, Unit # 2-105 |
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Country : |
Cayman Islands |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Limited 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 : |
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 : |
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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Cayman Islands |
A1 |
A1 |
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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 |
Cayman Islands ECONOMIC
OVERVIEW
With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland.
Source : CIA
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IDENTIFICATION |
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Ordered as: |
Semele Meritime Company Limited |
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Address in the order: |
Governors Square West Bay Road Line Three Bay Road, Unit 2-105 P O Box
1982 Grand Cayman KYI-1104 |
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Comments on data supplied: |
The subject is an International Business Company (IBC), the address
provided is that of the Registered Agent, FCM LTD. |
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Legal Name: |
SEMELE MARITIME COMPANY LIMITED |
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Legal Address |
Governors Square, West Bay Road, Lime Tree Bay Road, UNIT # 2-105
(Registered Agent) |
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Postal Town |
Grand Cayman KY1-1104 |
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Post Code |
1982 |
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Country |
KY |
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Telephone: |
345-946-5125 (Registered Agent) |
Registration Number : |
N.A. |
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Fax: |
345-946-5126 (Registered Agent) |
Legal Form: |
Limited Company |
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Email: |
fcmltd@candw.ky (Registered Agent) |
Registered in: |
KY |
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Website: |
http://www.fcmcayman.com (Registered Agent) |
Date Created: |
N.A. |
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Manager: |
N.A. |
Date Incorporated: |
N.A. |
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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 Fillings |
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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 - Manager - Related Companies |
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Shareholders Parent Company(ies): |
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The company is privately owned. Despite our long searches it has not been possible to identify the
shareholders. |
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Payments |
N.A. |
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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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We are waiting for the financial information from our banking sources. |
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FINANCIAL SUMMARY |
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Profitability |
N.A. |
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Indebtedness |
N.A. |
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Cash |
N.A. |
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GEOPOLITICS - CAYMAN ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory - Parliamentary system
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Currency: Cayman Islands (KYD) 100(KYD)=121.95(USD) |
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BUSINESS PRINCIPAL ACTIVITY |
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SEMELE MARITIME COMPANY LIMITED is an International Business Company /
Offshore Company incorporated in the Cayman Islands for tax purposes. However the company does not carry any operation in the Cayman
Islands. It is not registered with the Cayman Islands Chamber of Commerce as
being a local business. It is not listed with the Cayman Islands yellow pages. It is not listed with the major local credit bureaus. |
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Suppliers: |
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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 the Cayman Islands. It uses the
registered agent staff. |
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PAYMENTS |
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made on a 0 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The address belongs to the Registered Agent, FCM LTD. Governor's Square, West Bay Road / Lime Tree Bay Road, UNIT # 2-105 PO Box 1982 Grand Cayman KY1-1104 Cayman Islands |
Final Opinion
We are reporting an offshore company which belongs to foreign
shareholders. Although it is registered in the Cayman 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.
Please
take into consideration once the financial information from our banking sources
is received, the credit line and rating might change.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.14 |
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UK Pound |
1 |
Rs.99.02 |
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Euro |
1 |
Rs.83.87 |
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.