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Report No. : |
304373 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
EVER FASTENING TECH CO LTD |
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|
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Registered Office : |
Suite 2, 3 Floor, No.10
Eve Street, Belize City |
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Country : |
Belize |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Offshore Company |
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Line of Business : |
Subject is an International Business
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 |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Belize |
b2 |
b2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Belize ECONOMIC OVERVIEW
Tourism is the number one
foreign exchange earner in this small economy, followed by exports of marine
products, citrus, cane sugar, bananas, and garments. The government's expansionary
monetary and fiscal policies, initiated in September 1998, led to GDP growth
averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered this
growth. Exploration efforts have continued and production has increased a small
amount. Growth slipped to 0% in 2009, resulting from the global economic
slowdown, natural disasters, and a temporary drop in the price of oil, but grew
to 2.5% in 2013. With weak economic growth and a large public debt burden,
fiscal spending is likely to be tight. In January 2013, the government
announced that it had reached a deal with creditors to restructure its $544
million commercial external debt, commonly referred to as the
"superbond." The superbond represents one half of the country's
public debt. A key government objective remains the reduction of poverty and
inequality with the help of international donors. Although Belize has the
second highest per capita income in Central America, the average income figure
masks a huge income disparity between rich and poor. The sizable trade deficit
and heavy foreign debt burden continue to be major concerns.
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Source : CIA |
|
Legal Name: |
Ever Fastening Tech Co Ltd |
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ID |
NA |
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Date Created: |
NA |
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Date Incorporated: |
NA |
|
Legal Address: |
Suite 2, 3 Floor ,No.10
Eve Street |
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Operative Address: |
Suite 2, 3 Floor ,No.10
Eve Street |
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Telephone: |
Telephone: (501) 223-1700
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Fax: |
Fax: (501) 223-3777 |
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Legal Form: |
Offshore Company |
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Email: |
|
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Registry Office: |
Belize |
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Website: |
NA |
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Manager: |
Power Point Management
(Belize) Limited |
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Staff: |
0 |
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Activity: |
International Business
Company |
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BANKS |
|
|
Name |
Bank of Belize |
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This information was not
verified by the registered agent. |
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HISTORY |
|
|
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We could not find
experience data on the subject |
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PRINCIPAL ACTIVITY |
|
|
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Ever Fastening Tech Co
Ltd is an International Business Company
incorporated in Belize for tax purposes. |
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Products/Services
description: |
NA |
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It employs |
The company does not have
any employee in Belize. |
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Sales are: |
NA |
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Clients: |
Ykk (Usa) Inc. |
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Competitors: |
NA |
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Suppliers: |
NA |
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The company imports from |
NA |
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The company exports to |
USA |
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Payments: |
Unknown |
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LOCATION |
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Headquarters : |
The company does not
operate in the country. It would use its address for tax purposes. |
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Size: |
NA |
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Property: |
NA |
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Branches: |
NA |
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Business Overview: |
NA |
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|
|
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GROUP STRUCTURE AND
SUBSIDIARY COMPANIES |
|
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Listed at the stock
exchange: |
NO |
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Capital: |
NA |
|
Shareholders |
Despite our long search,
we could not confirm the major holders. |
|
Management: |
It is administrated by
the registered agent. |
|
|
Power Point Management
(Belize) Limited |
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FINANCIAL INFORMATION |
|
|
|
The following information
has been provided by our private sources. It is estimated and could not be
confirmed with the agent. |
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Turnover |
0 |
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Operating Income |
2 300 000 |
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Net Income |
700 000 |
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Cash Flow |
Normal |
|
|
|
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LEGAL FILINGS |
|
|
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There are no
legal/criminal filings found |
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FINAL REVIEW |
|
|
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This is an International
Business Company which does not belong to a company located in Belize. It is registered
in the island for tax purposes and does not operate within the country. It is
managed by a resident registration agent. |
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Cash |
NA |
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CALL |
|
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Interviewee |
NA |
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Position |
Belize Registry of
Companies |
|
Comments |
We contacted the Registry
but they refused to confirm information about the company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.