MIRA INFORM REPORT
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Report No. : |
327179 |
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Report Date : |
19.06.2015 |
IDENTIFICATION DETAILS
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Name : |
LS WHOLESALE |
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Registered Office : |
C/o Corporation Service Company, 48 State StBoston, 02109, Massachusetts |
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Country : |
British Virgin Islands |
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Date of Incorporation : |
06.10.1987 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Subject is engaged in wholesale of jewelry |
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No. of Employee : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Virgin Islands (British) |
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 |
BRITISH VIRGIN
ISLANDS - ECONOMIC OVERVIEW
The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism generating an estimated 45% of the national income. More than 934,000 tourists, mainly from the US, visited the islands in 2008. In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by yearend 2000. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the British Virgin Islands even more attractive to international business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959.
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
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IDENTIFICATION |
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Legal
Name: |
LS
WHOLESALE |
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Legal
Address |
C/O CORPORATION SERVICE COMPANY 48 State St |
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Postal
Town |
Boston |
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Post Code |
02109 |
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Primary
Geographic Area |
Massachusetts |
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Country |
US |
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Operative
Address |
Dronningens Gade, St. Thomas St. Thomas, US Virgin Islands |
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Telephone: |
+1 340
774 5180 (not working) |
Registration
Number: |
660439580 |
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Fax: |
+1 340
774 5180 (not working) |
Legal
Form: |
Corporation
for Profit |
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Email: |
N.A. |
Registered
in: |
US |
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Website: |
N.A. |
Date
Created: |
1987 |
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MANAGERS: |
Bela Mehta,
President |
Date
Incorporated: |
October
6th, 1987 |
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Staff: |
10 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity:
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Jewelry
wholesale |
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DIRECTORS/MANAGEMENT
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Management: |
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Bela Mehta, President Harold Ronal Tayler, Vice President Shrikant Chandulal Mehta, Director/Treasurer/Secretary Neena Shrikant Mehta, Director |
NEGATIVE
INFORMATION
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Legal Filings |
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SHARE
& SHARE CAPITAL INFORMATION
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Shareholders Parent Company(ies): |
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This is a private company. The company's main shareholders appear to be
members of the Mehta family. |
PAYMENT
INFORMATION
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DEBT COLLECTIONS
AND PAYMENTS |
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Payments |
REGULAR |
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Clients: |
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Professionals of industry |
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Suppliers: |
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Guangdong Silique International Group |
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Operations area: |
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Local |
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The company imports from China |
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The company does not export |
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Trade References: |
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It was not possible to obtain trade references for this subject. |
GROUP
STRUCTURE & AFFILIATED COMPANIES
N/a
FINANCIAL
INFORMATION
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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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We have attempted to contact the company but could not reach anyone
who could provide us any financial data. |
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Comments on the financial data: It was not possible to obtain
financial data for this subject. |
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FINANCIAL SUMMARY |
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Profitability |
N.A. |
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Indebtedness |
CONTROLLED |
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Cash |
NORMAL |
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
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BANKS |
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Name of the Bank |
First Bank of Virgin Islands |
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Comments |
This information was not verified by the company. |
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BUSINESS HISTORY |
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The company was incorporated in Massachusetts in 1989. While the company is incorporated in Massachusetts it is located in St.
Thomas, US Virgin Islands. |
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PRINCIPAL ACTIVITY |
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Jewelry wholesaler |
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Sales are: |
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Wholesale |
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The subject employs 10 employee(s) |
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Comments on staff: |
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It appears the company employs less than 10 employees, although this could
not be verified. |
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LOCATION |
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Headquarters |
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Dronningens Gade, St. Thomas St. Thomas, US Virgin Islands |
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Comments on location: |
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This information was not verified by the company. |
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Branches: |
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The company appears to have warehouse at: 74 Contant SS St St Thomas, US Virgin Islands |
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Listed at the stock exchange: |
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NO |
NOTES
& COMMENTS
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Comments |
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We attempted to call the company using the phone number found in our research
but the number had been disconnected. |
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Final Opinion |
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This is a small company located in the US Virgin Island of St Thomas
which has been in operations since 1987. While the company is located in St Thomas it is incorporated in the US
state of Massachusetts. The company imports products from China, so its future prospects will
be tied to the ease of bringing those products into St Thomas. We found no negative legal antecedents against the company. Because we could not get in touch with the company we would suggest
requesting guarantees before a credit line is considered. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.11 |
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1 |
Rs.100.32 |
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Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.