|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
Barracuda Intertrade Ltd |
|
|
|
|
Formerly Known As : |
ZERO WASTE LTD |
|
|
|
|
Registered Office : |
Emmanouil Roidou, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.12.1992 |
|
|
|
|
Com. Reg. No.: |
C52799 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject includes a wide spectrum of consulting and trading functions,
as well as collection, management and trading of recyclable materials. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Cyprus |
C1 |
B2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
CYPRUS - ECONOMIC OVERVIEW
The area of the Republic of
Cyprus under government control has a market economy dominated by the service
sector, which accounts for four-fifths of GDP. Tourism, financial services, and
real estate have traditionally been the most important sectors. Cyprus has been
a member of the European Union (EU) since May 2004 and adopted the euro as its
national currency in January 2008. During the first five years of EU
membership, the Cyprus economy grew at an average rate of about 4%, with
unemployment between 2004 and 2008 averaging about 3%. An overextended banking
sector with excessive exposure to Greek debt resulted in a contraction in
economic growth. Two of Cyprus' biggest banks were among the largest holders of
Greek bonds in Europe and had a substantial presence in Greece through bank
branches and subsidiaries. Following numerous downgrades of its credit rating,
Cyprus lost access to international capital markets in May 2011. The economy contracted
by an accumulated 8.2% between 2009 and 2013 and is not expected to return to
positive growth before 2015. Unemployment is currently over 17% and expected to
reach 19% in 2014. In July 2012, Cyprus became the fifth eurozone government to
request an economic bailout program from the European Commission, European
Central Bank and the International Monetary Fund - known collectively as the
"Troika". Shortly after the election of President Nicos ANASTASIADES
in February 2013, Cyprus faced an economic crisis and agreed with the Troika to
a $13 billion bailout that included losses on uninsured bank deposits. The
bailout triggered a two-week bank closure and the imposition of capital
controls, some of which remained in place through 2014. Cyprus' two largest
banks merged and the combined entity was recapitalized through conversion of
some large bank deposits to shares and imposition of losses on some bank
bondholders. The Troika conditioned the bailout on progress in financial and
structural reforms and privatization of state-owned enterprises. Cyprus has
downsized and restructured its banking sector significantly. Three positive
reviews by the Troika since May 2013 indicate that Cyprus’ bailout program is
on track with a fourth review scheduled in May 2014. In October 2013, Cyprus
completed preliminary appraisal of hydrocarbon deposits in its territorial
waters, which revealed less than anticipated natural gas reserves. Additional
exploration drilling is likely to continue in 2014-2015.
|
Source
: CIA |
|
Registered Name |
BARRACUDA INTERTRADE LTD |
||
|
English Name |
BARRACUDA INTERTRADE LTD |
||
|
Registered Address |
Emmanouil Roidou, Kirzis Center, Block D, 3rd Floor, Apt. D34, Limassol, Cyprus |
||
|
Headquarters: |
44 Emmanouil Roidi, Kirzis Center, Block D, 3rd Floor, Apt. 34, 3031, Limassol, PoBox 54448, Cyprus |
||
|
Telephone |
+35725348593 / +35725871111 |
||
|
Fax |
+35725347067 |
||
|
|
|||
|
Web Site |
|||
|
Status |
Registered
and operational |
||
|
Legal Type |
Limited Company |
||
|
Registration No |
C52799 |
Registration Date |
17/12/1992 |
|
Start Date |
17/12/1992 |
Years of Operation: |
22 |
|
Last annual report |
31/12/2003 |
|
|
|
Last return |
10/05/2012 |
Tax Reg No: |
VAT: CY10052799W |
|
CINFO ID: |
CYC11616718 |
|
|
|
Employees August 2014 |
December 2010 |
December 2009 |
||
|
Company |
Company |
|
Company |
|
|
Total Number Non Retrievable |
10-49 |
|
10-49 |
|
Legal Advisor: NTINOS M. MICHAELIDES, 227, Makariou Avenue, Doma Court, 5th Floor,
Off. 502, Limassol
Correspondent: NTINOS MICHAELIDES
DEPE, 44, Emmanouil Roidi, Kirzis Center, Block D, Apt. D. 34, 3rd Floor,
Limassol, 3722, Tel.: 25871111
|
Assessment: |
Nil
Rating |
|
|
Payment
Habits: |
No
complaints |
A
check against our revealed that no negative payment incidents against the
subject company, such as unpaid invoices, dishonored cheques, utility bills,
bankruptcies etc. exist. |
|
Financial
strength |
Unable
to comment |
Given
the fact that no recent detailed financial statements were disclosed, we feel
unable to express a safe and reliable opinion regarding their creditability and
Financial Strength. |
|
Date |
Event Name |
Old Value |
New Value |
|
22/12/2010 |
Change of name |
ZERO WASTE LTD |
BARRACUDA INTERTRADE LTD |
|
10/12/2010 |
Change of name |
BARRACUDA INTERTRADE
LIMITED |
ZERO WASTE LTD |
|
01/01/2008 |
Authorized Capital Changed |
1000.00 CYP |
1710.00 EUR |
|
01/01/2008 |
Nominal Values of Shares
Changed |
1.00 CYP |
1.71 EUR |
|
Registered |
From: |
To: |
|
227, Archiepiskopou Makariou
C' Avenue, Doma Court, 5th Floor, Off. 502, Limassol, 3031, , Cyprus, |
17/12/1992 |
11/06/1993 |
|
Authorized Capital |
1,710.00 |
EUR |
Issued Capital |
1,710.00 |
EUR |
|
Nominal No Of Shares |
1,000.00 |
|
Issued No Of Shares |
1,000.00 |
|
|
Nominal value |
1.71 |
EUR |
Paid Up |
1,710.00 |
EUR |
|
Directors |
Position |
Acts As |
ID |
Occupation |
Age |
Appointed |
Other dir. |
|
|||||||||||||
|
|
|
||||||||||||||||||||
|
|
LAGARIS DIMITRIOS |
|
Director |
|
1020748(ID) |
Mechanic |
33 |
09/11/2010 |
No |
||||||||||||
|
|
26 Kornesiou, Soinikismos Linopetras,
Limassol, Cyprus |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
|
IAKOVOU
ELENA |
|
Director |
|
851734(ID) |
Financial Director |
31 |
09/11/2010 |
No |
||||||||||||
|
|
9
Kopernikou, Agios Ioannis, 3012, Limassol, Cyprus |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Secretary |
Position |
Acts As |
ID |
Occupation |
Age |
Appointed |
Other dir. |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
ODYSSEOS STELLA |
|
Company
Secretary |
|
720745(ID) |
Private
Employee |
41 |
17/10/2007 |
Yes |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
40
Aretousas, Nea Ekali, Limassol, 3113, Cyprus |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Shareholders |
ID / Reg. No. |
Acts As |
Nationality |
Shares |
% |
Shares Breakdown |
Class |
Type |
|
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|
|
C.C.S.
COMPANY SERVICES LIMITED |
|
C54815 |
|
- |
1000 |
100 |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
44 Emmanouil Roidi, Kirzis Center, Block D, 3rd
Floor, Apt. 34D, 3031, Limassol,
Cyprus |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Activity Code |
Description |
|
|
NACE
2.1 |
3832 |
Recovery of sorted materials -
This class includes the processing of metal and non-metal waste and scrap and
other articles into secondary raw materials, usually involving a mechanical
or chemical transformation process. Examples of the mechanical or chemical
transformation processes that are undertaken are: - mechanical crushing of
metal waste from used cars, washing machines, bikes etc. - mechanical
reduction of large iron pieces such as railway wagons - shredding of metal
waste, end-of-life vehicles etc. - other methods of mechanical treatment as
cutting, pressing to reduce the volume - reclaiming metals out of
photographic waste, e.g. fixer solution or photographic films and paper -
reclaiming of rubber such as used tyres to produce secondary raw material -
sorting and pelleting of plastics to produce secondary raw material for
tubes, flower pots, pallets and the like - processing (cleaning, melting,
grinding) of plastic or rubber waste to granulates - crushing, cleaning and
sorting of glass - crushing, cleaning and sorting of other waste such as
demolition waste to obtain secondary raw material - processing of used
cooking oils and fats into secondary raw materials - processing of other
food, beverage and tobacco waste and residual substances into secondary raw
materials - Also included is the recovery of materials from waste streams in
the form of (1) separating and sorting recoverable materials from
non-hazardous waste streams (i.e. garbage) or (2) the separating and sorting
of commingled recoverable materials, such as paper, plastics, used beverage
cans and metals, into distinct categories. - This class excludes: -
manufacture of new final products from (whether or not self-manufactured)
secondary raw materials, such as spinning yarn from garnetted stock, making
pulp from paper waste, retreading tyres or production of metal from metal
scrap, see corresponding classes in section C (Manufacturing) - reprocessing
of nuclear fuels, see 20.13 - remelting ferrous waste and scrap, see 24.10 -
materials recovery during waste combustion or incineration process, see 38.2
- treatment and disposal of non-hazardous waste, see 38.21 - treatment of
organic waste for disposal, including production of compost, see 38.21 -
energy recovery during non-hazardous waste incineration process, see 38.21 -
treatment and disposal of transition radioactive waste from hospitals etc.,
see 38.22 - treatment and disposal of toxic, contaminated waste, see 38.22 -
wholesale of recoverable materials, see 46.77 |
The company's activities inlude a wide spectrum
of consulting and trading functions, as well as collection, management and
trading of recyclable materials.
|
Export to |
Percentage |
|
|
Comments |
Non
Retrievable |
|
|
Import from |
Percentage |
|
|
Comments |
Non
Retrievable |
|
|
Market Territory |
|||
|
|
|
|
|
|
Non
retrievable |
|||
|
Type |
Headquarter |
|
Address: |
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34, 3031, Limassol, PoBox 54448, Cyprus |
|
Headquarters comprise of |
Offices, Factory, Warehouse |
|
Headquarters are |
Rented |
|
Type |
Branch |
|
Country |
Cyprus |
|
Town/City: |
Limassol |
|
Location Phase: |
Moni Industrial Area |
|
Headquarters comprise of |
Factory |
|
Headquarters are |
Rented |
|
BANK OF CYPRUS PUBLIC COMPANY LIMITED |
|
Nicosia,
Cyprus |
|
BANK OF CYPRUS PUBLIC COMPANY LIMITED
(EX CYPRUS POPULAR BANK PUBLIC CO LTD) |
|
Nicosia,
Cyprus |
|
USB BANK PLC |
|
83
Digeni Akrita Avenue, 5th Floor, Nicosia, 1070, Cyprus |
|
Affiliates and Subsidiaries |
Relation |
Year Reg. |
||
|
WASTE-IS-MINE LIMITED |
Affiliate |
2012 |
||
|
1A Kyriakou Matsi, Koupati
Bldg, 4-5th Floor, Nicosia, 1082, Cyprus |
||||
|
ALSOBIA INVESTMENTS LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidou, Kirzis
Center, Block D, 3rd Floor, Apt 34D, Limassol, 3031, Cyprus |
||||
|
GOODENOUGH LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34D,
3031, Limassol, Cyprus |
||||
|
DELPHINIUM INVESTMENTS LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34D,
Limassol, 3031, Cyprus |
||||
|
ADOLPHUS INVESTMENTS LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34D,
3031, Limassol, Cyprus |
||||
|
JOINWELL INVESTMENTS LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidou,,
Kirzis Center Block D, 3th Floor, Apt. 34D, Limassol, 3031, Cyprus |
||||
|
GOLD AMBASSADORS PROPERTIES
LTD |
Associated |
2008 |
||
|
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34D,
3031, Limassol, Cyprus |
||||
|
DINOS M. MICHAELIDES
(CONSULTANTS) LIMITED |
Associated |
1988 |
||
|
Emmanouil Roidi, KIRZIS
CENTER (BLOCK D), D34, Limassol, 3031, PoBox 54246, Cyprus |
||||
|
MOLVI ESTATES LIMITED |
Associated |
1988 |
||
|
Emmanouil Roidi, KIRZIS
CENTER (BLOCK D), D34, Limassol, 3031, PoBox 52246, Cyprus |
||||
|
C.C.S. COMPANY SERVICES LIMITED |
Parent Company |
1993 |
||
|
44 Emmanouil Roidi, Kirzis
Center, Block D, 3rd Floor, Apt. 34D,
3031, Limassol, Cyprus |
||||
|
F.V. PANEL ADVERTISING
LIMITED |
Associated |
1993 |
||
|
69 Vithleem, Strovolos
Industrial Area, Strovolos, 2033, Nicosia, Cyprus |
||||
|
ZERO WASTE LTD |
Associated |
1995 |
||
|
44 Emmanouil Roidou, Kirzis
Court, Block D, 3rd Floor, Apt. D34, Limassol, 3031, Cyprus |
||||
|
No |
Date registered |
Date prepared |
Type |
Description/No |
Amount |
Sequence |
Beneficiary |
|
1 |
06/10/2010 |
29/09/2010 |
Mortgage |
Y10013/10 |
1,280,000.00 EUR |
- |
CSS
Lemesou Limited |
|
2 |
18/06/2010 |
08/06/2010 |
Mortgage |
Y6000/10 |
1,280,000.00 EUR |
- |
CSS
Lemesou Limited |
|
3 |
29/10/1997 |
31/07/1997 |
Floating
Charge on all Company's Assets |
|
40,000.00 CYP |
- |
Cyprus
Popular Bank Public Co Ltd |
|
4 |
23/10/1997 |
31/07/1997 |
Fixed
Charge on the Company's Motor Vehicle |
|
40,000.00 CYP |
- |
Cyprus
Popular Bank Public Co Ltd |
|
|
Total Number |
Total Amount (EUR) |
|
Mortgage |
2 |
2,560,000.00 |
|
Floating
Charge on all Company's Assets |
1 |
68,344.06 |
|
Fixed
Charge on the Company's Motor Vehicle |
1 |
68,344.06 |
|
TOTAL CHARGES |
4 |
2,696,688.12 |
A check against our records revealed that
no negative payment incidents against the subject company, such as unpaid
invoices, dishonored cheques, utility bills, bankruptcies etc. exist.
Please note that the latest financial details
were not available at the file of the company at the official companies'
registry house; as the law provides for all companies. No financial details
were available from other public sources
We contacted the company in question
where we talked to a Company official who informed us that the responsible
person, Ms Elena Iacovou, was away.
Additionally, a
questionnaire was sent to be forwarded to the subject but until now, we have
received no reply. Should any additional information become available, we will
provide you with a revised report.
This report
includes information obtained from a previous interview with the subject.
Perform Searches in:
The Registrar of Companies and
Official Receiver of the Republic of Cyprus.
In house databases for Detrimental
Information for up to 7 years:
-Bankruptcy
and Dissolution procedures.
-Issuers
of Dishonoured Cheques.
-Unpaid
Bills.
·
Proprietary
databases and global subscription sites.
Global and local media.
Internet social networks.
Relationship/Directorship Search
through Local Database.
Other local databases as deemed
appropriate.
Conduct Interviews with:
Official(s) / correspondent(s) of
the company under review.
Supplier(s) or other associated
entities of the company.
Other local resources with extensive
knowledge of the market.
Analysis
·
Process
and analyse all information gathered.
Perform a thorough quality check of
the report prior to sending it to the client.
|
Name: |
Not disclose |
|
|
|
Position: |
Company Official |
|
|
|
Couldn't supply Any info |
|||
|
A questionnaire was sent - no reply received |
|||
Recent
Enquiries on this subject
|
|
||
|
|
2 |
||
|
|||
|
Last 1 month: |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.