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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
RAIN FOREST RESOURCES LTD |
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Registered Office : |
5F |
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Country : |
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Date of Incorporation : |
Not Available |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Cayman Islands |
A1 |
A1 |
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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 |
CAYMAN ISLANDS ECONOMIC OVERVIEW
With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
RAIN FOREST
RESOURCES LTD |
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Address in the order: |
5F Anderson Sq, Shedden Rd, George Town, Grand Cayman KY1-1103 |
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Legal Name: |
RAIN FOREST RESOURCES LTD |
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Legal Address |
5th Floor Anderson Square Building, Shedden Road, (Registered Agent) |
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Postal Town |
George Town |
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Post Code |
KY1-1103 |
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Primary Geographic Area |
Grand Cayman |
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Country |
KY |
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Location Status |
Legal Address, |
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Mailing Address |
P.O. Box 866, Grand Cayman, KY1-1103, Cayman Islands (Registered Agent) |
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Telephone: |
(345) 949-7555 (Registered Agent) |
Registration Number : |
N.A. |
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Fax: |
(345) 949-8492 (Registered Agent) |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
KY |
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Website: |
N.A. |
Date Created: |
2001 |
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MANAGERS: |
N.A. |
Date Incorporated: |
N.A. |
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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: |
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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 |
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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. 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 subjects 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 20 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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RELATED COMPANIES: |
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Despite our long searches we were unable to find through outside sources any information related to the company RAIN FOREST RESOURCES LTD. |
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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 |
|
USD |
2013 |
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Turnover |
0 |
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Operating Income |
14 700 000 |
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Net Income |
14 700 000 |
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Net worth |
48 000 000 |
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Bank liabilities |
0 |
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The cash flow is |
good |
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Comments on the financial data: The company being an offshore, it was not possible to verify the financial figures with the registered agent. |
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FINANCIAL SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
NORMAL |
N/a
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GEOPOLITICS - CAYMAN ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory - Parliamentary system
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Currency: 100 KYD =
121.95 USD |
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BANKS |
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Name of the Bank |
Scotia Bank |
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Comments |
This information was not verified by the registered agent. |
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BUSINESS HISTORY |
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This information (2001) was not verified by the registered agent. |
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PRINCIPAL ACTIVITY |
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RAIN FOREST RESOURCES LTD is an International Business Company and Offshore Company incorporated in Cayman Islands for tax purposes. However the company does not carry any operation in Cayman Islands. It is not registered with the Cayman Islands Chamber of Commerce as being a local business. It is not listed with the Cayman Islands 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 Cayman Islands. It uses the registered agent staff. |
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LOCATION |
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Headquarters |
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5th Floor Anderson Square Building, Shedden Road, George Town, Grand Cayman, KY1-1103, Cayman Islands. |
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Comments on location: |
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The address mentioned above is that of the registered agent: H&J Corporate Services (Cayman) Ltd. |
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Final Opinion |
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We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in the Cayman 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
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|
1 |
Rs.100.48 |
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Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
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.