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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ALLIED MACHINERY INTERNATIONAL LIMITED |
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Registered Office : |
Palm Grove House, P O Box 438 Road Town Tortola |
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Country : |
British virgin islands |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
1044027 |
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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 : |
Offshore 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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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British virgin islands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
BRITISH VIRGIN
ISLANDS - ECONOMIC OVERVIEW
The economy, one of the most stable
and prosperous in the Caribbean, is highly dependent on tourism generating an
estimated 45% of the national income. More than 934,000 tourists, mainly from
the US, visited the islands in 2008. In the mid-1980s, the government began
offering offshore registration to companies wishing to incorporate in the
islands, and incorporation fees now generate substantial revenues. Roughly
400,000 companies were on the offshore registry by yearend 2000. The adoption
of a comprehensive insurance law in late 1994, which provides a blanket of
confidentiality with regulated statutory gateways for investigation of criminal
offenses, made the British Virgin Islands even more attractive to international
business. Livestock raising is the most important agricultural activity; poor
soils limit the islands' ability to meet domestic food requirements. Because of
traditionally close links with the US Virgin Islands, the British Virgin
Islands has used the US dollar as its currency since 1959
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
Allied
Machinery International Limited |
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Address in the
order: |
Palm Grove
House, P O Box 438 Road Town Tortola British Virgin
Islands |
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Legal Name: |
Allied Machinery
International Limited |
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Legal Address |
Palm Grove
House P.O. Box 438 |
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Postal Town |
Town Road |
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Post Code |
VG1110 |
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Primary
Geographic Area |
Tortola |
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Country |
VG |
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Location
Status |
Single
Location,Legal Address, |
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Mailing
Address |
P.O. Box 438 Road Town Tortola VG1110 British Virgin
Islands |
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Telephone: |
1-284-494-2616 |
Registration
Number : |
1044027 |
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Fax: |
1-284-494-2704 |
Legal Form: |
International
Business Company |
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Email: |
N.A. |
Registered in: |
VG |
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Website: |
N.A. |
Date Created: |
2006 |
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MANAGERS: |
N.A. |
Date
Incorporated: |
2006 |
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Staff: |
0 |
Stock: |
N.A. |
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SIC Code: |
6719 |
Value: |
N.A. |
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Activity: |
Offshore
company |
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Management: |
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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. |
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Legal Fillings
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The sources consulted
record no detrimental legal or labor court information. |
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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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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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PAYMENTS |
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made on a 18
days basis - monitored over the last 12 months |
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DEBT COLLECTIONS AND PAYMENTS |
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Public |
NO |
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Payments |
REGULAR |
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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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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. |
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Currency |
DATE |
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USD |
2013 |
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Turnover |
0 |
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Operating
Income |
3 190 000 |
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Net Income |
3 190 000 |
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Net worth |
15 700 000 |
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Bank
liabilities |
0 |
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The cash flow
is |
Good |
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FINANCIAL
SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
GOOD |
N/a
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GEOPOLITICS -
BRITISH VIRGIN ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of
Government: British overseas territory - Parliamentary system |
Currency: USD |
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BANKS |
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Name of the
Bank |
HSBC |
BUSINESS
PRINCIPAL
ACTIVITY
Allied Machinery
International Limited is an International Business Company / Offshore Company
incorporated in the British Virgin Islands for tax purposes.
However the
company does not carry any operation in the British Virgin Islands.
LINE OF BUSINESS
: Finance and investment
Subject has the
following purposes and objects: The principal object is to engage either in the
Virgin Islands or abroad, in the purchase, sell, disposal, dealing, transfer,
barter, ownership, negotiate, finance, administration to grant guaranties in
favor of obligation of third parties with or without mortgage or pledge of the
corporation assets, give or borrowing money in loan, giving or taking in
commission, mortgage, security, lease, use, usufruct, or receivership, any kind
of property, whether real or personal stock or rights, and make and accept all
kinds of deals, contracts, operations, business and transactions of lawful
commerce.
The corporation
could engage also in fulfilling all activities, contracts, operations, business
or transactions allowed by Law to the Corporation.
In particular it
is engaged in financial intermediation operations, participation in overseas
companies, shareholdings, overseas investments in general, etc.
According to
informed by subject's resident agent, it is legally registered in the British
Virgin Islands, with head offices abroad.
It means that
subject uses the British Virgin Islands territory only as its legal and
administrative address, but all its operations are carried out abroad.
It is under the
same condition as many companies that are established in the British Virgin
Islands, founded in order to protect their shareholder's investments and, to
avail of tax exemption laws in that country.
Subject's annual
business volume is not disclosed by its Resident Agent.
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The subject
employs 0 employee(s) |
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Comments on
staff: |
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The subject
uses the staff of the registered Agent. |
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LOCATION |
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Headquarters |
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The Address
mentioned above is that of the registered agent: Equity Trust
(BVI) Limited Palm Grove
House P.O. Box 438 Road Town Tortola VG1110 British Virgin
Islands Tel#:
1-284-494-2616 Fax#:
1-284-494-2704 PHYSICAL ASSET
HOLDINGS: No properties in the British Virgin Islands. Possible properties abroad are unknown. |
Business
Overview:
BVI
International Business Companies (IBCs) are the off-shore companies with a
great number of advantages, such as:
1) Exemption from
payment of any income tax;
2) Can conduct
most business transactions (except conducting banking and insurance activities
and other businesses with residents of the BVI; or to possess real estate in
BVI);
3) Requires a
minimum of only one shareholder and one director;
4) The directors
and shareholders can be entities or individuals resident in any country;
5) The shares
can be issued to the bearer or registered;
6) The Board of
Directors can meet in any part of the world and even by telephone;
7) The payment
of minimum capital is not required, and the shares can be issued at par or non
par value;
8) The names of
the Directors, Officers and shareholders do not need to be registered in a
public record
9) No need to
file annual reports nor tax returns;
10) Can transfer
its domicile and continue existing as a company incorporated under the laws of
a jurisdiction outside of BVI; a foreign company can also become a BVI IBC;
11) Neither the
minutes book nor the shares book need to be certified by any authority of BVI;
12) It is not
necessary to carry out Directors or shareholder meetings on a regular basis.
13) The name of
the company must include the word 'Limited', 'Corporation' or 'Incorporation',
or the abbreviation 'Ltd.', 'Corp.', 'Inc.' or 'S.A.'. Names in Chinese
characters may also be recorded.
14) It is not
necessary to issue shares of the company, unless the Board of directors decides
so.
15) The IBC can
be dissolved by resolution of the Board of directors, if no shares have been
issued. In case that the shares have been issued, the company must be dissolved
through a shareholders resolution.
16) All the
dividends, interest, rents, royalties, compensations and other amounts paid by
company established under the IBC Act to persons that are non-residents of BVI
are exempt from payment of income tax. The capital gains earned from the sale
of whatever shares or other securities of an IBC are also exempt from payment
of any tax.
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RATING |
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Local credit
bureau did not rate this company. |
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Final Opinion |
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We are
reporting upon a finance and investments company which belongs to foreign
shareholders. Although it is registered in the British Virgin 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. As there are no visible assets, and taking into account also
that it is unknown as making use of credit facilities, credit in general must
be regarded as a matter of confidence, and amounts of certain importance
would have to be secured by collateral. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.05 |
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|
1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
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 |
-- |
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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.