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Report Date : |
07.11.2014 |
IDENTIFICATION DETAILS
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Name : |
KREON DISTRIBUTION & MANAGEMENT LTD |
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Registered Office : |
1st Floor, Dekk House Zippora Street Providence I,8008 Industrial Estate, Mahe |
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Country : |
Seychelles |
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Date of Incorporation : |
02.05.2010 |
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Com. Reg. No.: |
086525 |
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Legal Form : |
International Business Company(IBC) |
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Line of Business : |
Subject is engaged in Textile and
clothing distributors. |
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No. of Employees : |
2 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Seychelles |
C1 |
B2 |
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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 |
SEYCHELLES - ECONOMIC OVERVIEW
Since independence in 1976, per capita output in this Indian Ocean archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle-income group of countries. Growth has been led by the tourist sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing. In 2008, having depleted its foreign exchange reserves, Seychelles defaulted on interest payments due on a $230 million Eurobond, requested assistance from the International Monetary Fund (IMF), and immediately enacted a number of significant structural reforms, including liberalization of the exchange rate, reform of the public sector to include layoffs, and the selling of some state assets. In December 2013, the IMF declared that Seychelles had successfully transitioned to a market-based economy with full employment and a fiscal surplus.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
KREON
DISTRIBUTION & MANAGEMENT LTD |
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Requested Name: |
KREON DISTRIBUTION & MANAGEMENT LTD |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
1st
Floor, Dekk House Zippora Street Providence I,8008 Industrial Estate, |
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Mahe, |
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Country: |
Seychelles |
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Phone: |
248-4373789 |
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Fax: |
248-4373900 |
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Email: |
aau@b1.ru/ genpro@email.sc |
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Website: |
www.genpro.com.tw |
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LEGAL
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Legal Form: |
International Business
Company(IBC) |
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Date Incorporated: |
02-May-2010 |
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Reg. Number: |
086525 |
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Nominal Capital |
SCR.
5,000 |
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Subscribed Capital |
SCR.
5,000 |
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Subscribed
Capital is Subscribed in the following form: |
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Position |
Shares |
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Undisclosed |
Directors |
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GenPro
Consulting (Seychelles) Limited |
Trustee/Agent |
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OPERATIONS
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Textile and clothing distributors |
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Imports: |
Europe |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Undisclosed |
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Main Customers: |
Undisclosed |
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Employees: |
2 employees. |
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Vehicles: |
Undisclosed |
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Territory of
sales: |
Offshore |
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Location: |
Undisclosed |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance
Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Seychelles Rupee (SCR.) |
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Approx. Ex. Rate: |
1 US Dollar = 14.12
Seychelles Rupee |
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Fiscal Year End:
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December 31, 2013 |
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Inflation:
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According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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Financial Information not
Submitted |
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BANK
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Bank Name: |
MCB |
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Branch: |
Seychelles |
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Comments: |
None |
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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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 Seychelles; It is difficult to
investigate such a Company due to the Seychelles regulations protecting the
non-disclosure of the name of the shareholders. According to Seychelles
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. We are reporting an
offshore company which belongs to foreign shareholders. Although it is
registered in the Seychelles 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. Our sources were able to
know that the shareholders of company are businesses from Russia. The ultimate shareholders
would be Russian investors. This company is located
in the Seychelles Islands only for taxes purposes; it was difficult to
investigate due to the Seychelles regulations protecting the non disclosure
of the name of the shareholders. The company is incorporated
with an agent who is also the legal officer who represents the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.39 |
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1 |
Rs.98.00 |
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Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
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Analysis Done by
: |
KA= |
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Report Prepared
by : |
SNT |
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.