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Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
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Name : |
RY OFFSHORE AS INC |
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Registered Office : |
P.O. Box CB-12751, Nassau, New Providence |
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Country : |
Bahamas |
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Date of Incorporation : |
03.04.2014 |
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Com. Reg. No.: |
170597B |
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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 : |
0 |
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 : |
International Business 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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bahamas |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
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IDENTIFICATION |
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Ordered as: |
RY Offshore As Inc |
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Address in the order: |
Offshore
Group Chambers P O CCB - 12751 Nassau New Providence Bahamas |
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Comments on data
supplied: |
Dear
client: The address in your order was incorrect. Below is the correct address. |
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Legal Name: |
RY Offshore As Inc |
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|
Legal Address |
Marlborough
& Queen Sts. (Registered Agent) |
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Postal Town |
Nassau |
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Post Code |
N.A. |
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Primary Geographic Area |
New Providence |
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Country |
BS |
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Location Status |
Legal Address, |
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Mailing Address |
P.O.
Box CB-12751, Nassau, New Providence, Bahamas (Registered Agent) |
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Telephone: |
(242) 325-4068
(Registered Agent) |
Registration Number : |
170597B |
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Fax: |
(242) 325-4068
(Registered Agent) |
Legal Form: |
International Business
Company |
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Email: |
N.A. |
Registered in: |
BS |
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Website: |
N.A. |
Date Created: |
2014 |
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MANAGERS: |
N.A. |
Date Incorporated: |
April 3, 2014 |
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Staff: |
0 |
Stock: |
N.A. |
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Value: |
USD 1 000 |
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Activity: |
Offshore company |
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N/a
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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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Shareholders Parent
Company(ies): |
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The
company is owned by foreign shareholders. |
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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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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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DEBT COLLECTIONS AND
PAYMENTS |
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Public |
NO |
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Payments |
REGULAR |
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RELATED COMPANIES: |
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|
Through
outside sources we could learn that the subject would be related to: RY
Offshore AS Inc Principal
Activity: Chartering of vessel It
is an associated company of Surf Ventures Pte. Ltd. (SVPL). However,
the subject being an offshore company, the link could not be verified. |
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FINANCIALS
- COMMERCIAL TRENDS AND FORECAST |
|
As
a private company the subject does not publish any financial statements. |
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Comments
on the financial data: As of today, no financial data or credit history is
available through public sources at this time. |
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FINANCIAL SUMMARY |
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Profitability |
N.A. |
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Indebtedness |
NIL |
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Cash |
NORMAL |
N/a
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GEOPOLITICS - BAHAMAS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form
of Government: Commonwealth Realm - Parliamentary system |
Currency:
100 BSD = 100.00 USD |
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BANKS |
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Name of the Bank |
HSBC |
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Comments |
This
information was not verified by the registered agent. |
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BUSINESS HISTORY |
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The
creation date was not verified by the registered agent. |
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PRINCIPAL ACTIVITY |
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RY
Offshore AS Inc is an International Business Company / Offshore Company
incorporated in the Bahamas for tax purposes. However
the company does not carry any operation in the Bahamas. It
is not registered with the Bahamas Chamber of Commerce as being a local
business. It
is not listed with the Bahamas yellow pages. It
is not listed with the major local credit bureaus. |
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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 Bahamas. It uses the registered
agent staff. |
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LOCATION |
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Headquarters |
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Marlborough
& Queen Sts., Nassau, Bahamas. |
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Comments on location: |
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The
address mentioned above is that of the registered agent: Offshore
Incorporation (Bahamas) Ltd. |
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RATING |
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Local
credit bureau did not rate this company. The
company is in Good Standing. This means that all local and federal taxes were
paid on due date. |
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Final Opinion |
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|
We
are reporting an offshore company (recently incorporated) which belongs to
foreign shareholders. Although it is registered in the Bahamas, 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. We therefore suggest
caution. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.86 |
|
|
1 |
Rs. 98.82 |
|
Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
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.