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Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
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Name : |
JTC ( |
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Formerly Known As : |
JTC MANAGEMENT LIMITED |
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Registered Office : |
Neekash Trust, Jersey Trust Company, |
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Country : |
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Date of Incorporation : |
23.03.1987 |
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Com. Reg. No.: |
37293 |
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Legal Form : |
Private Company
Limited By Shares |
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Line of Business : |
Providing Corporate, Trust and Fund Services |
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No. of Employees : |
300 Estimated (Group) |
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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United Kingdom |
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 |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading
power and financial center, is the third largest economy in Europe after
Germany and France. Over the past two decades, the government has greatly
reduced public ownership. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, are key drivers of British GDP growth. Manufacturing,
meanwhile, has declined in importance but still accounts for about 10% of
economic output. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth
outpaced most of Western Europe. In 2008, however, the global financial crisis
hit the economy particularly hard, due to the importance of its financial
sector. Falling home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these included nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing burgeoning
public deficits and debt levels, in 2010 the CAMERON-led coalition government
(between Conservatives and Liberal Democrats) initiated a five-year austerity
program, which aimed to lower London's budget deficit from about 11% of GDP in
2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George
OSBORNE announced additional austerity measures through 2017 largely due to the
euro-zone debt crisis. The CAMERON government raised the value added tax from
17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21%
by 2014. The Bank of England (BoE) implemented an asset purchase program of
£375 billion (approximately $605 billion) as of December 2013. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating
unexpectedly in the second half of the year because of greater consumer
spending and a recovering housing market. The budget deficit is falling but
remains high at nearly 7% and public debt has continued to increase.
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Source
: CIA |
REGISTERED NAME & COMPANY SUMMARY
EXECUTIVE SUMMARY |
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Date registered: |
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Legal form: |
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Main activities: |
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Employees: |
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DIRECTORS/MANAGEMENT
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MANAGEMENT & STAFF |
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Name: |
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Name: |
Miranda Lansdowne |
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Job title: |
Director - Fund Services |
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Name: |
Tony Whitney |
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Job title: |
Group Director - Corporate Services |
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Name: |
Stephen Whale |
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Job title: |
Group Director - Private Client Services |
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Name: |
Phillip Burgin |
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Job title: |
Head of Group Client Services |
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Staff |
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No of employees |
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BOARD OF DIRECTORS / OTHER APPOINTMENTS |
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Name: |
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Board function: |
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Address: |
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Name: |
Miranda Lansdowne |
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Board function: |
Director - Fund Services |
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Name: |
Nigel Anthony Le Quesne |
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Board function: |
Group Chairman |
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Address: |
Jersey, Channel Islands |
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Name: |
Tony Whitney |
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Board function: |
Group Director - Corporate Services |
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Name: |
Stephen Whale |
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Board function: |
Group Director - Private Client Services |
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Name: |
Phillip Burgin |
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Board function: |
Head of Group Client Services |
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Interpretation |
Official details of Directors / Secretary of private Jersey companies
are not available from the Jersey registry. |
NEGATIVE INFORMATION
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LEGAL FILINGS |
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Bankruptcy filings: |
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Court judgements: |
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Tax liens: |
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Other: |
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SHARE & SHARE CAPITAL INFORMATION
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SHARE CAPITAL |
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Composition |
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Authorised: |
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Number/type: |
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Share value: |
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Issued: |
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Paid-up: |
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Shareholders/Owners |
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How Listed |
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Elizabeth House,
9 Castle Street JE2 3RT St Helier Jersey, Channel Islands |
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PAYMENT INFORMATION
GROUP STRUCTURE & AFFILIATED COMPANIES
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CORPORATE
AFFILIATIONS |
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Elizabeth House,
9 Castle Street JE2 3RT St Helier Jersey, Channel Islands |
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Comments |
Other companies
of the JTC Group should also be considered as affiliates of the Subject. |
FINANCIAL INFORMATION
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FINANCIAL
ACCOUNTS |
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Description |
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Required to file: |
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Source: |
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Comments |
The Subject's
financial statements were not available in the course of our investigation. |
FOREIGN EXCHANGE RATES
N/A
ADDITIONAL INFORMATION
NOTES & COMMENTS
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INVESTIGATIVE
NOTES |
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Sources: |
Interviews and material provided by the
Subject Other official and local business sources |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.12 |
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1 |
Rs.102.54 |
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Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
TPT |
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.