|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EQUITY WORLD LTD |
|
|
|
|
Registered Office : |
Oliaji Trade Centre, 1st Floor, Victoria, Mahe |
|
|
|
|
Country : |
Seychelles |
|
|
|
|
Date of Incorporation : |
2012 |
|
|
|
|
Legal Form : |
International Business
Company (IBC) |
|
|
|
|
Line of Business : |
Consultancy firm |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
International Business Company |
|
Payment Behaviour : |
Unknown |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Seychelles |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SEYCHELLES - ECONOMIC OVERVIEW
Since independence in 1976,
per capita output in this Indian Ocean archipelago has expanded to roughly seven
times the pre-independence, near-subsistence level, moving the island into the
upper-middle-income group of countries. Growth has been led by the tourist
sector, which employs about 30% of the labor force and provides more than 70%
of hard currency earnings, and by tuna fishing. In recent years, the government
has encouraged foreign investment to upgrade hotels and other services. At the
same time, the government has moved to reduce the dependence on tourism by
promoting the development of farming, fishing, and small-scale manufacturing.
In 2008, having depleted its foreign exchange reserves, Seychelles defaulted on
interest payments due on a $230 million Eurobond, requested assistance from the
International Monetary Fund (IMF), and immediately enacted a number of
significant structural reforms, including liberalization of the exchange rate,
reform of the public sector to include layoffs, and the selling of some state
assets. In December 2013, the IMF declared that Seychelles had successfully
transitioned to a market-based economy with full employment and a fiscal
surplus.
|
Source
: CIA |
|
Registered Name: |
EQUITY WORLD LTD |
|
Requested Name: |
EQUITY WORLD LTD |
|
Other Names: |
None |
|
Physical Address: |
Oliaji
Trade Centre, 1st Floor, Victoria, Mahe |
|
Postal Address: |
P.
o. Box 1377 |
|
|
Victoria,
Mahe, |
|
Country: |
Seychelles |
|
Phone: |
248-4321377 |
|
Fax: |
248-4324777 |
|
Email: |
email@actseychelles.com |
|
Website: |
www.actoffshore.com |
|
Legal Form: |
International Business
Company (IBC) |
|
|
Date Incorporated: |
2012 |
|
|
Reg. Number: |
Seychelles |
|
|
Nominal Capital |
SCR.
30,000 |
|
|
Subscribed Capital |
SCR.
30,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Undisclosed |
Directors |
|
|
A.C.T.- OFFSHORE LIMITED |
Trustee/Agent |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Consultancy firm |
|
|
Imports: |
Undisclosed |
|
Exports: |
Undisclosed |
|
Trademarks: |
None |
|
Terms of sale: |
Undisclosed |
|
|
|
|
Main Customers: |
None Stated |
|
Employees: |
1 employee. |
|
Vehicles: |
Undisclosed |
|
Territory of sales: |
Seychelles |
|
Location: |
Undisclosed |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Seychelles Rupee (SCR.) |
|
Approx. Ex. Rate: |
1 US Dollar = 11.85
Seychelles Rupee |
|
Fiscal Year End: |
December 31, 2013 |
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
|
|
|
|
Financial Information
Submitted |
SCR. |
|
|
Undisclosed |
|
Bank Name: |
Barclays
Bank |
|
Branch: |
Seychelles |
|
Comments: |
None |
|
This information was
obtained from outside sources other than the subject company itself. This Company is an
International Business Company (IBC), which is registered in Seychelles; It
is difficult to investigate such a Company due to the Seychelles regulations
protecting the non disclosure of the name of the shareholders. According to Seychelles
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. The company is
incorporated with an agent who is also the legal officer who represents the
company. It is difficult to
investigate due to the Seychelles regulations protecting the non disclosure
of the name of the shareholders. We are reporting an
offshore company which belongs to foreign shareholders. Although it is
registered in the Seychelles 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.