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Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
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Name : |
MONTEROS MARITIME INC |
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Registered Office : |
Hunkins Waterfront Plaza P.O. Box 556 Main Street, Charlestown |
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Country : |
St. Kitts and Nevis |
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Year of Establishments: |
2004 |
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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 : |
Subject is an Offshore Company incorporated in St. Kitts and Nevis for
tax purposes. |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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St. 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 |
St. 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
returned to growth only in 2013. Like other tourist destinations in the
Caribbean, St. Kitts and Nevis is vulnerable to damage from natural disasters
and shifts in tourism demand. The government has made notable progress on
reducing its public debt—from 154% of GDP in 2011 to 83% in 2013—although it
still faces one of the highest levels in the world, largely attributable to
public enterprise losses.
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Source : CIA |
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IDENTIFICATION |
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Legal Name: |
Monteros Maritime Inc |
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Legal Address |
Hunkins Waterfront
Plaza P.O. Box 556 Main Street (Registered Agent) |
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Postal Town |
Charlestown |
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Country |
KN |
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Telephone: |
(869) 469-1333 (Registered
Agents Number) |
Registration Number: |
N.A. |
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Fax: |
(869) 469-0968 (Registered
Agents Fax) |
Legal Form: |
International
Business Company |
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Email: |
N.A. |
Registered in: |
KN |
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Website: |
N.A. |
Date Created: |
2004 |
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MANAGERS: |
N.A. |
Date Incorporated: |
- |
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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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Shareholders
Parent Company(ies): |
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The company is owned by foreign shareholders. |
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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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DEBT COLLECTIONS AND PAYMENTS |
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Public |
NO |
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Payments |
Unknown |
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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 |
2013 |
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Turnover |
0 |
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Operating Income |
3 600 000 |
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Net Income |
3 600 000 |
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Net worth |
13 400 000 |
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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 |
2010 |
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Turnover |
0 |
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Operating Income |
2 800 000 |
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Net Income |
2 800 000 |
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Net worth |
7 000 000 |
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Bank liabilities |
0 |
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The cash flow is |
Good |
FINANCIAL SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
GOOD |
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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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BANKS |
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Name of the Bank |
HSBC |
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Location |
St. Kitts and Nevis |
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Comments |
This information could not be verified with the company. |
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BUSINESS PRINCIPAL
ACTIVITY |
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MONTEROS MARITIME INC is an International Business Company / Offshore
Company incorporated in St. Kitts and Nevis for tax purposes. However the company does not carry any operation in St. Kitts and
Nevis. It is not registered with the St. Kitts and Nevis Chamber of Commerce
as being an active business. It is not listed with the St. 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 subjects 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 St. Kitts and Nevis. It
uses the registered agent staff. |
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Comments on location: |
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The address mentioned above is that of the registered agent: Meridian Trust Company Limited Hunkins Plaza Main Street P.O. Box 556 Charlestown, St. Kitts and Nevis Tel: 1-869-469-1333 Fax: 1-869-469-0968 Email: info@meridiantrustnevis.com |
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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. 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. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
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UK Pound |
1 |
Rs.99.36 |
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Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.