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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
REGATREND MANUFACTURER CORPORATION |
|
|
|
|
Registered Office : |
Offshore Chambers, G/F NPF
Building, Beach Road |
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|
|
|
Country : |
Samoa |
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Date of Incorporation : |
12.06.2010 |
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|
Legal Form : |
Limited Corporation |
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|
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Line of Business : |
Consultancy firm |
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No. of Employees : |
02 |
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 |
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Status : |
International Business Company |
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|
|
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Samoa |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Samoa ECONOMIC OVERVIEW
The economy of
Samoa has traditionally been dependent on development aid, family remittances
from overseas, agriculture, and fishing. The country is vulnerable to
devastating storms. Agriculture employs roughly two-thirds of the labor force
and furnishes 90% of exports, featuring coconut cream, coconut oil, and copra.
The manufacturing sector mainly processes agricultural products. One factory in
the Foreign Trade Zone employs 3,000 people to make automobile electrical
harnesses for an assembly plant in Australia. Tourism is an expanding sector
accounting for 25% of GDP; 122,000 tourists visited the islands in 2007. In
late September 2009, an earthquake and the resulting tsunami severely damaged
Samoa, and nearby American Samoa, disrupting transportation and power
generation, and resulting in about 200 deaths. In December 2012, extensive
flooding and wind damage from Tropical Cyclone Evan killed four people,
displaced over 6,000, and damaged or destroyed an estimated 1,500 homes in
Samoa's Upolu island. The Samoan Government has called for deregulation of the
financial sector, encouragement of investment, and continued fiscal discipline,
while at the same time protecting the environment. Observers point to the
flexibility of the labor market as a basic strength for future economic
advances. Foreign reserves are in a relatively healthy state, the external debt
is stable, and inflation is low.
|
Source
: CIA |
\
Registered Name: REGATREND MANUFACTURER CORPORATION
Requested Name: REGATREND
MANUFACTURER CORPORATION
Other Names: None
Physical Address: Offshore Chambers, G/F NPF
Building, Beach Road
Postal Address: P. o. Box 217,
Apia,
Country: Samoa
Phone: 68521751
Fax: 68524166
Email: info@stevensons-offshore.com/trevor@stevensons-offshore.com
Website: www.offshore-inc.com
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. In the absence of a payment pattern and financial information,
we would recommend that all dealings with the subject be on a secured basis.
Legal Form: Limited Corporation
Date Incorporated: 12-June-2010
Reg. Number: Samoa
Nominal Capital WST. 5,000
Subscribed Capital WST. 5,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Undisclosed Directors
Mr. Trevor
Stevenson(Representative of Offshore Incorporations (Samoa) Limited) 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: firms
and organizations
Employees: 2
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: offshore
Location: Rented
premises, 500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Samoa Tala (WST.)
Approx. Ex. Rate: 1 US Dollar = 2.32 Samoa Tala
Fiscal
Year End: December 31, 2012
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial Information Not Submitted
Bank Name: ANZ Samoa
Branch: Samoa
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 Samoa;
It is difficult to investigate such a Company due to the Samoa regulations
protecting the non disclosure of the name of the shareholders.
According
to Samoan 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 Samoan 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 Samoa 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.