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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
G.K. DIGITAL ACTIVA LIMITED |
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Registered Office : |
2A 28 Oktovriou, Industrial
Area, 1040, Dali, |
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Country : |
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Date of Incorporation : |
08.03.2013 |
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Com. Reg. No.: |
C320280 |
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Legal Form : |
Limited Company |
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Line of Business : |
According to the Articles of
Association, the subject company is involved in general trade however; we were
unable to confirm this. The Articles of Association also make provision for
other activities. [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Maximum Credit Limit : |
Not Available |
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Status : |
New 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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Cyprus |
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 |
CYPRUS - ECONOMIC OVERVIEW
The area of the Republic of
Cyprus under government control has a market economy dominated by the service
sector, which accounts for four-fifths of GDP. Tourism, financial services, and
real estate have traditionally been the most important sectors. Cyprus has been
a member of the European Union (EU) since May 2004 and adopted the euro as its
national currency in January 2008. During the first five years of EU
membership, the Cyprus economy grew at an average rate of about 4%, with
unemployment between 2004 and 2008 averaging about 3%. An overextended banking
sector with excessive exposure to Greek debt resulted in a contraction in
economic growth. Two of Cyprus' biggest banks were among the largest holders of
Greek bonds in Europe and had a substantial presence in Greece through bank
branches and subsidiaries. Following numerous downgrades of its credit rating,
Cyprus lost access to international capital markets in May 2011. The economy contracted
by an accumulated 8.2% between 2009 and 2013 and is not expected to return to
positive growth before 2015. Unemployment is currently over 17% and expected to
reach 19% in 2014. In July 2012, Cyprus became the fifth eurozone government to
request an economic bailout program from the European Commission, European
Central Bank and the International Monetary Fund - known collectively as the
"Troika". Shortly after the election of President Nicos ANASTASIADES
in February 2013, Cyprus faced an economic crisis and agreed with the Troika to
a $13 billion bailout that included losses on uninsured bank deposits. The
bailout triggered a two-week bank closure and the imposition of capital
controls, some of which remained in place through 2014. Cyprus' two largest
banks merged and the combined entity was recapitalized through conversion of
some large bank deposits to shares and imposition of losses on some bank
bondholders. The Troika conditioned the bailout on progress in financial and
structural reforms and privatization of state-owned enterprises. Cyprus has
downsized and restructured its banking sector significantly. Three positive
reviews by the Troika since May 2013 indicate that Cyprus’ bailout program is
on track with a fourth review scheduled in May 2014. In October 2013, Cyprus
completed preliminary appraisal of hydrocarbon deposits in its territorial
waters, which revealed less than anticipated natural gas reserves. Additional
exploration drilling is likely to continue in 2014-2015
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Source
: CIA |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.42 |
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1 |
Rs.99.72 |
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Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.