MIRA INFORM REPORT

 

 

Report Date :

08.08.2014

 

IDENTIFICATION DETAILS

 

Name :

TEKTRADELTD

 

 

Registered Office :

Terrence V. Byron, O'loughlin House, Fort Stre Basseterre

 

 

Country :

St Kitts and Nevis

 

 

Date of Incorporation :

08.04.1997

 

 

Com. Reg. No.:

002089

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore company

 

 

No. of Employees

Not Available

 

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 Activity

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.

 

 

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.

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

IDENTIFICATION

Ordered as:

TEKTRADE LTD

Address in the order:

Cayon Street, Basseterre St Kills, West indies

St Kitts andNevis

 

 

Legal Name:

TEKTRADELTD

Legal Address

TERRENCE V. BYRON, O'LOUGHLIN HOUSE, FORT STRE

Postal Town

BASSETERRE

Post Code

N.A.

PrimaryGeographicArea

ST. GEORGE

Country

KN

Telephone:

+1 (869) 465-2055 / 465-5952

RegistrationNumber :

002089

Fax:

N.A.

Legal Form:

International Business Company

Email:

N.A.

Registered in:

KN

Website:

N.A.

Date Created:

N.A.

MANAGERS:

N.A.

Date Incorporated:

April 8th, 1997

Staff:

0

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Offshore company

 

 

DIRECTORS/MANAGEMENT

 

Management:

 

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.

 

 

NEGATIVE INFORMATION

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Na

 

 

PAYMENT INFORMATION

 

PAYMENTS

 

made on a 30 days basis - monitored over the last 12 months

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Shareholders - MANAGERS - RELATED COMPANIES

ShareholdersParent Company(ies):

 

The company is owned by foreign shareholders.

RELATED COMPANIES:

 

Through outside sources we could learn that the subject might be related to:

 

Tektrade is an internatinal trading company active in import and export based in Sydney Australia.

 

P.O. Box: 546, Beecroft,

Sydney-Australia

Zip: 2000

Tel: 61-433-178228

Fax: 61-2-99403745

 

However, the subject being an offshore, the link with Tektrade could not be verified.

 

 

FINANCIAL INFORMATION

 

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

The Subject Company is registered as an International Business Company in St. Kitts and Nevis and is therefore exempt from filing and/or publishing Annual Audited Accounts at the Registrar of Companies, under the St. Kitts and Nevis Law. In addition, due to the laws of privacy governing disclosure of BANKING INFORMATION, we are unable to demand a copy of the subject's Latest FINANCIAL STATEMENTS.

However our financial sources could provide us with the following data (estimates):

Currency

DATE

 

USD

2012

 

Turnover

0

 

OperatingIncome

895 000

 

Net Income

895 000

 

Net worth

5 600 000

 

Bank liabilities

0

 

The cash flowis

Large

 

 

Currency

DATE

USD

2009

Turnover

0

OperatingIncome

760 000

Net Income

760 000

Net worth

4 000 000

Bank liabilities

0

The cash flowis

Large

 

Comments on the financial data: This information could not be verified by the company.

 

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Commonwealth Realm - Parliamentary system


EconomicRisk: Present

Currency: 100.00 XCD = 37.0370 USD

Branch Situation:Stable

 

BANKS

Name of the Bank

Scotia Bank

Comments

This information has not been confirmed with the company

BUSINESS

PRINCIPAL ACTIVITY

 

TEKTRADE LTD 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.

TradeReferences:

 

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.

The subject employs 0 employee(s)

Commentson staff:

 

The company does not have any employee in St. Kitts and Nevis. It uses the registered agent staff.

LOCATION

Headquarters

 

C/O TERRENCE V. BYRON, O'LOUGHLIN HOUSE, FORT STRE, BASSETERRE, ST. GEORGE, StKitts and Nevis

Commentsonlocation:

 

The address mentioned above is that of the registered agent.

The agent declined to give any information on the subject, who is protected by the law of non-disclosure.

 

RATING

Local credit bureau did not rate this company.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

Indebtedness

CONTROLLED

Payments

UNKNOWN

 

 

NOTES & COMMENTS

 

 

Final Opinion

 

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.

 

APPENDIX

Comments

 

We tried calling the registered office but were unable to reach a live person.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.103.42

Euro

1

Rs.82.17

                

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.