MIRA INFORM REPORT

 

 

Report Date :

10.09.2014              

 

IDENTIFICATION DETAILS

 

Name :

FUCO TRADING LTD

 

 

Registered Office :

c/o Novasage Incorporations (Samoa) Ltd Level 2 Novasage Chambers Cccs Bldg Beach Rd, Apia Samoa

 

 

Country :

Viet Nam

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Offshore Company - Private Limited

 

 

Line of Business :

Service Not Applicable - Tax Haven Entity

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Viet Nam

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

VIET NAM - ECONOMIC OVERVIEW

 

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained relatively stable in 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

FUCO TRADING LTD

Address

:

c/o NOVASAGE INCORPORATIONS (SAMOA) LTD Level 2 Novasage Chambers CCCS Bldg Beach Rd, Apia

Country

:

Samoa

Phone (S)

:

[+685]-22231

Facsimile

:

[+685]-20600

Primary Business Activity

:

Service

Key Industry

:

Not Applicable - Tax Haven Entity

 

Key Facts

 

Registered Legal Address

:

Level 2 Novasage Chambers CCCS Bldg Beach Rd, Apia

Operational Address

:

c/o NOVASAGE INCORPORATIONS (SAMOA) LTD Level 2 Novasage Chambers CCCS Bldg Beach Rd, Apia

Issuing Authority

:

Registrar of Int'l & Foreign Companies - Samoa Int'l Finance Authority - National

License Number

:

Not Available(1)

License Status

:

License exists - But used as a tax haven holding company only.

Legal Form - Category

:

Offshore Company - Private Limited

Legal Form

:

Limited

Legal Form - Abbreviation

:

LTD

Operational Status of Business

:

Corporate Secretarial Services office ONLY
The Subject Business Entity (SBE) does NOT maintain an operational office at the address listed above. The office located at the address above (including telephone and fax numbers) is operated and managed by a firm specializing in Corporate Secretarial services. Based on telephone discussions with the management of the Corporate Secretarial firm, it manages the annual legal corporate license renewals and related matters on behalf of the SBE.
There is no known operational office for the Subject Business Entity in the country listed above.

The name of the Corporate Secretarial firm is:
NOVASAGE INCORPORATIONS (SAMOA) LTD

Capital

:

n/a(2)

Note

:

(1) The Registry of Companies in Samoa does NOT allow public access to any form of Statutory data on companies, with the exception of the Subject Business Entity's Legal name, Type of Legal Form and Registered Agent. Hence, the absence of a License number.

 

(2) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Offshore Company - Private Limited) in Samoa, there is no requirement for Authorized Capital.

 

 

Report Details

 

 

Country

:

Samoa

Business Entity Name

:

FUCO TRADING LTD

Primary Business Activity

:

Service

Primary Industry

:

Not Applicable - Tax Haven Entity

Office Contact Details

Operating Address

:

c/o NOVASAGE INCORPORATIONS (SAMOA) LTD Level 2 Novasage Chambers CCCS Bldg Beach Rd, Apia

Tel

:

[+685]-22231

Fax

:

[+685]-20600

Postal Details

P.O. Box

:

3018

 

 

DIRECTORS/MANAGEMENT

 

 

COMPANY DIRECTORS

 

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Offshore Company - Private Limited) in Samoa, there is no public disclosure of Directors.

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Due to the fact that the FUCO TRADING LTD :

  1. Does not maintain an operational office in Samoa, and
  2. There is no knowledge or public record of overseas business activities

Therefore it has not been possible to ascertain the reputation of the FUCO TRADING LTD.

 

 

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

SHAREHOLDERS

 

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Offshore Company - Private Limited) in Samoa, there is no public disclosure of Shareholders.

 

 

PAYMENT INFORMATION

 

Na

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

Based on the corporate laws of Samoa, legal entities which are Offshore Company - Private Limited are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Na

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.42

UK Pound

1

Rs.97.24

Euro

1

Rs.77.92

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.