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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
LECON TRADING CORP |
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Registered Office : |
Room 306 Victoria House,
Victoria, Mahe,
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Country : |
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Year of Establishments : |
2013 |
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Legal Form : |
International Business Company (IBC) |
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Line of Business : |
Engaged as a Consultancy firm |
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No of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Seychelles |
C1 |
B2 |
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Risk Category |
ECGC
Classification |
|
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 |
Seychelles ECONOMIC OVERVIEW
Since independence in 1976, per capita output in this Indian Ocean archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle-income group of countries. Growth has been led by the tourist sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing. In 2008, having depleted its foreign exchange reserves, Seychelles defaulted on interest payments due on a $230 million Eurobond, requested assistance from the International Monetary Fund (IMF), and immediately enacted a number of significant structural reforms, including liberalization of the exchange rate, reform of the public sector to include layoffs, and the selling of some state assets. In December 2013, the IMF declared that Seychelles had successfully transitioned to a market-based economy with full employment and a fiscal surplus.
|
Source
: CIA |
Registered Name: LECON TRADING CORP
Requested Name: LECON
TRADING CORP
Other Names: None
Physical Address: Room 306 Victoria House,
Victoria, Mahe
Postal Address: P. o. Box 673
Victoria, Mahe
Country: Seychelles
Phone: 248-4289200
Fax: 248-4289211
Email: None
Website: None
In the absence of a payment pattern and financial information, we would
recommend that all dealings with the subject be on a secured basis. We
recommend secured transaction only
Legal Form: International Business Company (IBC)
Date Incorporated: 2013
Reg. Number: Seychelles
Nominal Capital SCR. 5,000
Subscribed Capital SCR. 5,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Information not availed Director
Intershore Consult
(Seychelles) Ltd Trustee/Agent
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Consultancy firm
Imports: Undisclosed
Exports: Undisclosed
Trademarks: None
Terms of sale: Undisclosed
Main Customers: Undisclosed
Employees: 2
employees.
Vehicles: Undisclosed
Territory of
sales: offshore
Location: Rented
premises, 500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Seychelles Rupee (SCR.)
Approx. Ex. Rate: 1 US Dollar = 14.17 Seychelles Rupee
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial Information not Submitted
Bank Name: BARCLAYS BANK
Branch: Mahe Branch
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself .
This Company
is an International Business Company (IBC), which is registered in Seychelles;
It is difficult to investigate such a Company due to the Seychelles regulations
protecting the non-disclosure of the name of the shareholders.
According
to Seychelles business regulation, an International Business Company, is under
no obligation to state its directors, officers and shareholders, also it’s
under no obligation to file annual returns, prepare or submit company accounts
to any authority.
The company
is incorporated with an agent who is also the legal officer who represents the
company.
It is
difficult to investigate due to the Seychelles regulations protecting the non
disclosure of the name of the shareholders.
We are
reporting an offshore company which belongs to foreign shareholders. Although
it is registered in the Seychelles Islands, 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.
This
company is located in the Seychelles Islands only for taxes purposes; it was
difficult to investigate due to the Seychelles regulations protecting the non
disclosure of the name of the shareholders.
The company
is incorporated with an agent who is also the legal officer who represents the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<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.