MIRA INFORM REPORT

 

 

Report Date :

19.08.2014  

 

IDENTIFICATION DETAILS

 

Name :

Y MED CO LTD

 

 

Registered Office :

Rm 51, 5Fl Britannia House Jalan Cator, Bandar Seri Begawan, Negara BS8811

 

 

Country :

Brunei Darussalam

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Offshore Company

 

 

Line of Business :

Not Available

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

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 :

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.

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Brunei Darussalam

A2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRUNEI DARUSSALAM ECONOMIC OVERVIEW

 

Brunei has a small well-to-do economy that depends on revenue from natural resource extraction but encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for 60% of GDP and more than 90% of exports. Per capita GDP is among the highest in Asia, and substantial income from overseas investment supplements income from domestic production. For Bruneian citizens the government provides for all medical services and free education through the university level. The government of Brunei has been emphasizing through policy and resource investments it strong desire to diversity its economy both within the oil and gas sector and to new sectors

 

Source : CIA

 

 

 

Company name and address

 

Organization Name

:

Y MED CO LTD

Address

:

Rm 51, 5Fl Britannia House Jalan Cator, Bandar Seri Begawan, Negara BS8811

Country

:

Brunei

Phone (S)

:

[+673]-2222177

Facsimile

:

[+673]-2222179

Primary Business Activity

:

Service

Key Industry

:

Not Applicable - Tax Haven Entity

 

 

DIRECTORS/MANAGEMENT

 

COMPANY DIRECTORS

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Offshore Company - International Business Company ("IBC")) in Brunei, there is no public disclosure of Directors.

 

 

NEGATIVE INFORMATION

 

REPUTATION

Due to the fact that the Y MED CO LTD:

Does not maintain an operational office in Brunei, and

There is no knowledge or public record of overseas business activities

Therefore it has not been possible to ascertain the reputation of the Y MED CO LTD.

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

:

n/a(2)

 

SHAREHOLDERS

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Offshore Company - International Business Company ("IBC")) in Brunei, there is no public disclosure of Shareholders.

 

 

PAYMENT INFORMATION

 

N/a

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Brunei, legal entities which are Offshore Company - International Business Company ("IBC") are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Key Facts

Registered Legal Address

:

Rm 51, 5Fl Britannia House Jalan Cator, Bandar Seri Begawan, Negara BS8811

Operational Address

:

Rm 51, 5Fl Britannia House Jalan Cator, Bandar Seri Begawan, Negara BS8811

Issuing Authority

:

Registrar of International Business Companies - National

License Number

:

Not Available(1)

License Status

:

License exists - But is a "shelf-company" used for tax purposes only.

Legal Form - Category

:

Offshore Company - International Business Company ("IBC")

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Corporate Secretarial Services office ONLY
The Subject Business Entity (SBE) does NOT maintain an operational office at the address listed above. The office located at the address above (including telephone and fax numbers) is operated and managed by a firm specializing in Corporate Secretarial services. Based on telephone discussions with the management of the Corporate Secretarial firm, it manages the annual legal corporate license renewals and related matters on behalf of the SBE.
There is no known operational office for the Subject Business Entity in the country listed above.

The name of the Corporate Secretarial firm is:
POWER POINT TRUST LTD

 

Report Details

Country

:

Brunei

Business Entity Name

:

Y MED CO LTD

Primary Business Activity

:

Service

Primary Industry

:

Not Applicable - Tax Haven Entity

Office Contact Details

Operating Address

:

Rm 51, 5Fl Britannia House Jalan Cator, Bandar Seri Begawan, Negara BS8811

Tel

:

[+673]-2222177

Fax

:

[+673]-2222179

 

 

 

NOTES & COMMENTS

 

Note

:

(1) There is no legal obligation by Registrar of International Business Companies, to release any other statutory information other than the confirmation that Y MED CO LTD is a tax haven company and is considered in "goodstanding".

 

(2) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Offshore Company - International Business Company ("IBC")) in Brunei, there is no requirement for Authorized Capital.

 

 

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.