|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUNEHR SHIPPING LIMITED |
|
|
|
|
Registered Office : |
Hunkins Plaza, Main Street, Suite 556, Charlestown |
|
|
|
|
Country : |
Saint Kitts and Nevis |
|
|
|
|
Year of Establishments: |
2006 (not verified) |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
International Business Company |
|
|
|
|
Line of Business : |
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 : |
Offshore 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Saint Kitts and Nevis |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Saint
Kitts and Nevis ECONOMIC OVERVIEW
The economy of Saint Kitts and Nevis depends on tourism; since the
1970s tourism has replaced sugar as the traditional mainstay of the economy.
Following the 2005 harvest, the government closed the sugar industry, after
several decades of losses. To compensate for lost jobs, the government has
embarked on a program to diversify the agricultural sector and to stimulate
other sectors of the economy, such as export-oriented manufacturing and
offshore banking. Roughly 200,000 tourists visited the islands in 2009, but
reduced tourism arrivals and foreign investment led to an economic contraction
in 2009-2012, and the economy has not yet returned to growth. Like other
tourist destinations in the Caribbean, St. Kitts and Nevis is vulnerable to
damage from natural disasters and shifts in tourism demand. Furthermore, the
government is constrained by one of the world's highest public debt burdens -
equivalent to roughly 140% of GDP in 2012 - largely attributable to public enterprise
losses.
|
Source
: CIA |
SAINT KITTS AND NEVIS
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Commonwealth Realm - Parliamentary system
|
Currency: 100 XCD = 37.03 USD
|
|
Legal Name: |
GUNEHR SHIPPING LIMITED |
||
|
Legal Address |
Hunkins Plaza, Main
Street, Suite 556 |
||
|
Postal Town |
Charlestown |
||
|
Post Code |
N.A. |
||
|
Primary Geographic Area |
N.A. |
||
|
Country |
KN |
||
|
Operative Address |
Hunkins Plaza, Main
Street, Suite 556, Charlestown, St. Kitts and Nevis |
||
|
Telephone: |
1-869-469-1817 (Registered Agent) |
Registration Number : |
N.A. |
|
Fax: |
(869) 469-1794 (Registered Agent) |
Legal Form: |
International Business Company |
|
Email: |
N.A. |
Registered in: |
KN |
|
Website: |
N.A. |
Date Created: |
2006 (not verified) |
|
Manager: |
N.A. |
Date Incorporated: |
N.A. |
|
Staff: |
0 |
Stock: |
N.A. |
|
|
|
Value: |
N.A. |
|
Activity: |
Offshore company |
||
|
Name of the Bank |
Barclays Bank |
PRINCIPAL ACTIVITY
|
|
GUNEHR SHIPPING LIMITED
is an International Business Company / Offshore Company incorporated in St.
Kitts and Nevis for tax purposes. However the company does
not carry any operation in St. Kitts and Nevis. It is not registered with
the St. Kitts and Nevis Chamber of Commerce as being a local business. It is not listed with the
St. Kitts and Nevis yellow pages. It is not listed with the
major local credit bureaus. The company does not have
any employee in St. Kitts and Nevis. It uses the registered
agent staff. |
|
Trade References: |
|
|
|
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. |
|
PAYMENTS |
|
|
|
made on a 30 days basis -
monitored over the last 12 months |
|
LOCATION |
|
|
Headquarters |
|
|
|
Hunkins Plaza, Main
Street, Suite 556, Charlestown, St. Kitts and Nevis Morning Star Holdings
Limited Hunkins Plaza, Main
Street, Suite 556 Charlestown, Nevis, West
Indies Tel: 1-869-469-1817 Fax: 1-869-469-1794 Email: info@morningstarnevis.com The agent declined to
give any information on the subject, who is protected by the law of non
disclosure. |
Manager - Related
Companies
|
Listed at the stock
exchange: |
|
|
|
NO |
|
Shareholders Parent Company(ies): |
|
|
|
The company is owned by
foreign shareholders. |
|
Management: |
|
|
|
It is locally managed by
the registered agent mentioned above. The agent declined to
give any information on the subject, who is protected by the law of
non-disclosure. |
|
Related Companies: |
|
|
|
Through outside sources
we could learn that the subject would be related to a bulk carrier buyer
which operates as "Gunehr Shipping Ltd". However, the subject being
an offshore company, this information could not be verified. |
COMMERCIAL TRENDS AND
FORECAST
|
As a private company the
subject does not publish any financial statements. |
|
However our financial
sources could provide us with the following data. Those figures are
estimates provided by confidential banking and financial institutions working
with the company. |
|
Currency |
DATE |
|
USD |
2011 |
|
Turnover |
0 |
|
Operating Income |
9 920 000 |
|
Net Income |
9 920 000 |
|
Net worth |
40 000 000 |
|
Bank liabilities |
0 |
|
The cash flow is |
good |
|
Comments on the financial data: The figures were not been disclosed by the company. They were
conciliated with our private sources and from a particular analysis of the
company´s structure. |
|
Legal Fillings |
|
The sources consulted record no
detrimental legal or labor court information. |
|
Local credit bureau did not rate this company. |
|
|
Final Opinion |
|
|
|
We are
reporting an offshore company which belongs to foreign shareholders. Although
it is registered in the St. Kitts and Nevis, 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. |
|
|
|
||
|
Profitability |
GOOD |
Public |
NO |
|
Indebtedness |
NIL |
Payments |
Unknown |
|
Cash |
GOOD |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.30 |
|
UK Pound |
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.