MIRA INFORM REPORT

 

 

Report Date :

15.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SAILLOCK LTD 

 

 

Registered Office :

Lagoon Court Office Service Olde,Towne Sandyport Box, SP 63123, Nassau

 

 

Country :

Bahamas

 

 

Date of Incorporation :

07.02.1997

 

 

Com. Reg. No.:

53654B

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Subject is an Offshore Company

 

 

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 :

International Business 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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Bahamas

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Bahamas ECONOMIC OVERVIEW

 

The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.

 

Source : CIA

Company summary

 

Legal Name:

SAILLOCK LTD

ID

53654B

Date Created:

1997

Date Incorporated:

February 7th, 1997

Legal Address:

Lagoon Court Office Service Olde, Towne Sandyport Box, SP 63123, Nassau, BAHAMAS

Operative Address:

NA

Telephone:

1 (242) 322-2670

Fax:

1 (242) 322-2670

Legal Form:

Private Limited Company

Email:

IBC (International Business Company)

Registry Office:

Bahamas

Website:

www.lagooncourt.com

Manager:

Lagoon Court Office Service Center

Staff:

0

Activity:

Subject is an Offshore Company

SIC Codes:

NA

NAICS Codes:

NA

 

BANKS

           

Name

First Caribbean International Bank

 

 

This information was not verified by the registered agent.

 

HISTORY

           

The company was incorporated in 1997

PRINCIPAL ACTIVITY   

 

SAILLOCK LTD is an International Business Company / Offshore Company incorporated in Bahamas for tax purposes.

 
The company uses the registrant address but does not carry any operation in the country.

It is not registered in Bahamas as being a local business company.

It is not listed with the Bahamas commercial pages.

 

Products/Services description:

NA

It employs

The company does not have any employee in St Kitts and Nevis.

Sales are:

NA

Clients:

NA

Competitors:

NA

Suppliers:

NA

The company imports from

NA

The company exports to

NA

Payments:

NA

 

LOCATION

 

Headquarters :

Harry B. Sands, Lobosky & Company, Shirley House, 50 Shirley Street, Nassau, Bahamas

Size:

NA

Property:

NA

Branches:

NA

Business Overview:

NA

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES    

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders

The company is owned by foreign shareholders. Despite our long search, we could not confirm its major holders.

Management:

It is administrated by the registered agent.

 

Lagoon Court Office Service Center

Lagoon Court Building at Olde Towne Mall

Town Nassau

242-327-1163:

242-327-1173

www.lagooncourt.com

 

FINANCIAL INFORMATION 

 

This is a International Business Company which does not make its financial statements public.

 

The following information has been provided by our private sources.

 

USD 2013

 

Turnover

0

Operating Income

3 500 000

Net Income

3 500 000

Net Worth

42 000 000

Bank Liabilities

0

Cash Flow

Normal

 

 

LEGAL FILINGS

           

There are no adverse legal information connected to the company.

 

FINAL REVIEW   

 

This is an International Business Company which belongs to a company located in Bahamas. It is registered in Bahamas for tax purposes and does not operate within the country. It is managed by a resident registration agent.

 

RISK INFORMATION

           

Indebtedness

Controlled

Payments

Unknown

Cash

Normal

CALL

           

Interviewee

Agent

Position

Attorney

Comments

The person contacted refused to confirm data about this company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.98.15

Euro

1

Rs.77.38

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

MNL

 

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.