MIRA INFORM REPORT

 

 

Report No. :

324732

Report Date :

08.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ANGELINA SHIPPING INC

 

 

Registered Office :

Hunkins Waterfront, Plaza Suite 556, Main Street, Charlestown

 

 

Country :

Saint Kitts and Nevis

 

 

Year of Establishment :

2004

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore company – International Business Company

 

 

No. of Employee :

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.

 

 

ECONOMIC OVERVIEW

 

The economy of Saint Kitts and Nevis depends on tourism; since the 1970s, tourism has replaced sugar as the economy’s traditional mainstay. Following the 2005 harvest, the government closed the sugar industry after several decades of losses. To compensate for lost jobs, the government has embarked on a program to diversify the agricultural sector and to stimulate other sectors of the economy, such as export-oriented manufacturing and offshore banking. Roughly 200,000 tourists visited the islands in 2009, but reduced tourism arrivals and foreign investment led to an economic contraction in 2009-2013, and the economy returned to growth only in 2014. Like other tourist destinations in the Caribbean, St. Kitts and Nevis is vulnerable to damage from natural disasters and shifts in tourism demand. The government has made notable progress on reducing its public debt—from 154% of GDP in 2011 to 83% in 2013—although it still faces one of the highest levels in the world, largely attributable to public enterprise losses.

 

Source : CIA

 

 REGISTERED NAME & COMPANY SUMMARY

 

IDENTIFICATION

Ordered as:

ANGELINA SHIPPING INC

Address in the order:

HUNKINS WATERFRONT PLAZA,SUITE 556, MAIN STREET, CHARLESTOWN, HUNKINS WATERFRONT PLAZA,SUITE 556, MAIN STREET, CHARLESTOWN, SAINT KITT NAVIS

Comments on data supplied:

The subject is an International Business Company (IBC), the address provided is that of the Registered Agent, Meridian Trust Company Ltd

Legal Name:

ANGELINA SHIPPING INC         

Legal Address

Hunkins Waterfront, Plaza Suite 556, Main Street (Registered Agent)

Postal Town

Charlestown (Registered Agent)

Country

KN

Telephone:

1-869-469-1333 (Registered Agent)

Registration Number :

N.A.

Fax:

1-869-469-0968 (Registered Agent)

Legal Form:

International Business Company

Email:

nevis@tridenttrust.com (Registered Agent)

Registered in:

KN

Website:

www.tridenttrust.com (Registered Agent)

Date Created:

2004

MANAGERS:

N.A.

Date Incorporated:

N.A.

Staff:

0

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Offshore company – International Business Company

 

 

DIRECTORS/MANAGEMENT

 

Management:

 

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.

 

 

 

NEGATIVE INFORMATION

 

Legal Filings

 The sources consulted record no detrimental legal or labor court information.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders - RELATED COMPANIES

Shareholders Parent Company(ies):

 

The company is managed by foreign shareholders.

Despite our long searches it has not been possible to identify the shareholders.

 

 

 

PAYMENT INFORMATION

 

Trade References:

 

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.

 

 

PAYMENTS

 

made on a 18 days basis - monitored over the last 12 months

 


DEBT COLLECTIONS AND PAYMENTS

Public

NO

Payments

REGULAR

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

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.

 

 

Currency

DATE

USD

2014

Turnover

0

Operating Income

2 900 000

Net Income

2 900 000

Net worth

N.A.

Bank liabilities

0

The cash flow is

Good

 

Comments on the financial data: The company being an offshore, it was not possible to verify the financial figures with the registered agent.

 


FINANCIAL SUMMARY

Profitability

CORRECT

Indebtedness

NIL

Cash

NORMAL

 

 

FOREIGN EXCHANGE RATES

 

N/a

ADDITIONAL INFORMATION

 

GEOPOLITICS - SAINT KITTS AND NEVIS

POLITICAL DATA

ECONOMIC DATA

Form of Government: Commonwealth Realm - Parliamentary system


Economic Risk: Present

Currency: 100.00 XCD=37.0370 USD

Branch Situation: Stable

 

 

BANKS

 

Name of the Bank

RBC ROYAL BANK

Location                                  

St. Kitts and Nevis

Comments

This information was not verified by the registered agent.

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

 

ANGELINA SHIPPING INC, is an International Business Company - Offshore Company incorporated in St. Kitts and Nevis for tax purposes.

 

However the company does not carry any operation in the St. Kitts and Nevis.

 

It is not registered with the St. Kitts and Nevis Chamber of Commerce as being a local business.

 

It is not listed with the St. Kitts and Nevis yellow pages.

 

It is not listed with the major local credit bureaus.

 

 

The subject employs 0 employee(s)

Comments on staff:

 

The company does not have any employee in St. Kitts and Nevis. It uses the registered agent staff.

 

 

LOCATION

 

Headquarters

The address belongs to the Registered Agent:

 

Meridian Trust Company Ltd

Hunkins Waterfront Plaza

Suite 556

Main Street

Charlestown, Nevis West Indies

Tel  +1-869-469-1333

Fax +1-869-469-0968

nevis@tridenttrust.com

 

 

NOTES & COMMENTS

 

 

 Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in St. Kitts and Nevis, 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.

 

We recommend a credit line for the amount of USD 160,000, based on the financial information received from our banking sources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

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.