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Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
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Name : |
OISTROS SHIPPING S.A. |
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Registered Office : |
Trust Company Complex,
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Country : |
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Date of Incorporation : |
28.08.2013 |
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Com. Reg. No.: |
63449 |
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Legal Form : |
International
Business Company |
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Line of Business : |
Offshore Company |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
New Business |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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C1 |
C2 |
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Risk Category |
ECGC
Classification |
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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 |
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Source
: CIA |
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Ordered as: |
Oistros Shipping SA |
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Address in the order: |
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Legal Name: |
OISTROS SHIPPING S.A. |
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Legal Address |
Trust Company Complex, |
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Postal Town |
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Post Code |
MH96960 |
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Primary Geographic Area |
Majuro |
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Country |
MH |
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Location Status |
Legal Address, |
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Telephone: |
N.A. |
Registration Number : |
63449 |
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Fax: |
N.A. |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
MH |
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Website: |
N.A. |
Date Created: |
2013 |
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MANAGERS: |
N.A. |
Date Incorporated: |
August 28, 2013 |
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Staff: |
0 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Offshore company |
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MANAGEMENT
It is locally managed by the registered agent mentioned above.
The agent refused to provide any information on the company which is
protected by the laws of non disclosure.
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Legal Fillings |
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The sources consulted record no detrimental legal or labour court
information. |
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Public |
NO |
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Shareholders - RELATED COMPANIES |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is owned by foreign shareholders. |
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Payments |
TO BE MONITORED |
N/A
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FINANCIALS - COMMERCIAL TRENDS AND FORECAST |
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As a private company the subject does not publish any financial
statements. |
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Comments on the financial data: The company was created less than a
year ago. |
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FINANCIAL
SUMMARY |
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Profitability |
N.A. |
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Indebtedness |
N.A. |
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Cash |
N.A. |
N/A
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GEOPOLITICS - |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic Economic Risk: Nil |
Currency: USD |
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BANKS |
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Name of the Bank |
BAMI BANK |
PRINCIPAL ACTIVITY
At the address requested is located the office of The Trust Company of
the
From an interview with Tanya Lawson of The Trust Company of the
In accordance with the of the Trust Company of the Marshall Islands,
Inc., The Republic of the Marshall Islands Registrar of Corporations, the above
Corporation filed Articles of Incorporation on August 28, 2013 and remains an
existing Corporation.
The registered address of the Corporation in the
corporation's registered agent at such address is The Trust Company of
the Marshall Islands, Inc.
Pursuant to the Marshall Islands Business Corporations Act,
OISTROS SHIPPING S.A. is an International Business Company / Offshore
Company incorporated in The Marshall Islands for tax purposes.
However the company does not carry any operation in The Marshall
Islands.
It is not registered with The Marshall Islands Chamber of Commerce as
being an active business.
It is not listed with The Marshall Islands yellow pages.
It is not listed with the major local credit bureaus.
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Trade References: |
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In virtue of the nature of its business activities its local transactions
are seldom. Therefore, commercial sources consulted in the marketplace report
that they are unable to establish subject's payment performance and general
reputation regarding commitments contracted as same it is UNKNOWN as making
use of credit facilities. |
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The subject employs 0 employee(s) |
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Comments on staff: |
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The company does not have any employee in The Marshall Islands. It
uses the registered agent staff. |
BUSINESS LICENSES:
For a foreign investor to do business in the Marshall Islands as an
individual, a partnership, a joint venture, or a corporation (domestic or
foreign), the investor must first obtain a Foreign Investment Business License.
Application forms for a Foreign Investment Business License may be
obtained from the Registrar of Foreign Investment in the Office of the Attorney
General.
Applications are then reviewed by the sectoral Ministries and Agencies.
The process of review and approval normally takes no longer than four to
six weeks (often less).
The National Government does not require foreign investors to obtain any
other licenses, unless they are involved in regulated activities (e.g., the
practice of law, the practice of medicine, banking, fishing, fishing base
operation).
If a business entity has a Foreign Investment Business License, it need
not obtain a business license from the local government in whose jurisdiction
it operates for a period of one year from the date of issuance of the foreign
investment license.
Foreign Corporations:
If an investor chooses to do business in the
Final Opinion
We are reporting an offshore company which belongs to foreign
shareholders. Although it is registered in The Marshall 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, although nothing detrimental is noted upon subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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1 |
Rs.102.04 |
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Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.