MIRA INFORM REPORT

Report Date :

18.08.2014

IDENTIFICATION DETAILS

Name :	MORRITO MARITIME INC

Registered Office :	P.O. Box No. 556, Mainstreet Hunkins Plaza

Country :	Nevis

Date of Incorporation :	Not Available

Legal Form :	International Business Company

Line of Business :	Offshore Company

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 :	Offshore 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.

Company name and address

IDENTIFICATION
Ordered as:	MORRITO MARITIME INC
Address in the order:	P.O.BOX NO. 556, MAINSTREET

Legal Name:	MORRITO MARITIME INC
Legal Address	P.O. Box 556, Mainstreet Hunkins Plaza
Postal Town	N.A.
Post Code	N.A.
Primary Geographic Area	Charlestown
Country	KN
Operative Address	P.O. Box 556 Hunkins Plaza Charlestown Nevis, West Indies (Registered agent)
Telephone:	+1(869) 469-1333 (Registered agent)	Registration Number :	N.A.
Fax:	N.A.	Legal Form:	International Business Company
Email:	N.A.	Registered in:	KN
Website:	N.A.	Date Created:	2003
MANAGERS:	N.A.	Date Incorporated:	N.A.
Staff:	0	Stock:	N.A.
SIC Code:	67	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 more 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

Shareholders - RELATED COMPANIES
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is owned by foreign shareholders.

PAYMENT INFORMATION

Trade References:
	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.

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

DEBT COLLECTIONS AND PAYMENTS
Public	NO
Payments	REGULAR

GROUP STRUCTURE & AFFILIATED COMPANIES

N/a

FINANCIAL INFORMATION

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

The subject company is registered as an International business company / offshore company in St Kitts and Nevis and is therefore exempt from filing and / or publishing annual audited accounts at the registrar of companies, under 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.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
USD	2012
Operating Income	760 000
Net Income	760 000
Net worth	6 550 000
The cash flow is	Normal

FINANCIAL SUMMARY
Profitability	N.A.
Indebtedness	CONTROLLED
Cash	NORMAL

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

GEOPOLITICS - SAINT KITTS AND NEVIS

POLITICAL DATA

ECONOMIC DATA

Form of Government: Commonwealth Realm - Parliamentary system

Economic Risk: Present

Currency: 100.00 XCD = 37.0370 USD

Branch Situation: Stable

BANKS
Name of the Bank	FIRST BANK
Comments	This information was not verified by the company.

BUSINESS

PRINCIPAL ACTIVITY

Morrito 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.

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

LOCATION

Headquarters

The Address mentioned above is that of the registered agent:

Meridian Trust Company Ltd.

Mr. Ernie Dover, Managing Director.

P.O. Box 556

Hunkins Plaza

Charlestown

Nevis, West Indies

Tel: 1(869) 469-1333

Fax: 1(869) 469-0968

E-mail: edover@meridiantrustnevis.com

Website: www.meridiannev.com

Tracey Williams-Morton

Trust & Fiduciary Services Manager

twilliams@meridiantrustnevis.com

We have contacted Ernie Dover, the Managing Director, who confirmed that they are the registered agent of Morrito Maritime Inc.

RATING
Local credit bureau did not rate this company.

NOTES & COMMENTS

Final Opinion

The cash flow is normal.

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in 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 request.

APPENDIX
Person Interviewed
	Ernie Dover
Position
	Managing Director (Registered Agent)
Comments
	We have contacted the registered agent, who confirmed us the relation with the company we are investigating.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.06
UK Pound	1	Rs.101.84
Euro	1	Rs.81.56

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIS

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.