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Report No. : |
327379 |
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Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
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Name : |
GROWTH LINK OVERSEAS COMPANY LIMITED |
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Registered Office : |
Veritas Place, 6th Floor 65 Court Street
 Hamilton HM 12, |
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Country : |
Bermuda |
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Date of Incorporation : |
1991 |
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Legal Form : |
Limited Company |
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Line of Business : |
Not Available [Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources] |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Bermuda |
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 |
BERMUDA ECONOMIC OVERVIEW
Bermuda’s economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda’ FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda’s economy, consistently accounting for about 85% of the island’s GDP. Even this sector, however, has lost roughly 5000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
Growth Link Overseas Co Ltd |
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Address in the order: |
Veritas Place, 6th Floor, 65 Court Street Hamilton HM 12 Bermuda |
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Comments on data supplied: |
The subject is an International Business Company (IBC), the address
provided is that of the Registered Agent Apex Law Group LTD |
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Legal Name: |
GROWTH LINK OVERSEAS COMPANY LIMITED |
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Legal Address |
Veritas Place, 6th Floor 65 Court Street
 Hamilton HM 12, Bermuda |
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Postal Town |
Hamilton |
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Post Code |
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Primary Geographic Area |
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Country |
BM |
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Telephone: |
(441) 295-1302 |
Registration Number : |
N.A. |
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Fax: |
(441) 295-8555 |
Legal Form: |
Limited Company |
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Email: |
N.A. |
Registered in: |
BM |
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Website: |
N.A. |
Date Created: |
1991 |
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MANAGERS: |
N.A. |
Date Incorporated: |
N.A. |
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Staff: |
N.A. |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Offshore Company |
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Management: |
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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. |
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Legal Filings |
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The sources consulted record no detrimental legal or labor court
information. |
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Public |
NO |
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Shareholders
Parent Company(ies): |
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The company is managed by foreign shareholders. Despite our long searches it has not been possible to identify the
shareholders. |
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Trade
References: |
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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. |
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PAYMENTS |
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Made on a 20 days basis - monitored over the last 12 months |
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DEBT COLLECTIONS
AND PAYMENTS |
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Payments |
REGULAR |
N/a
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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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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. |
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Currency |
DATE |
|
USD |
2014 |
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Turnover |
0 |
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Operating Income |
4 650 000 |
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Net Income |
4 650 000 |
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Net worth |
23 800 000 |
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Bank liabilities |
0 |
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The cash flow is |
Normal |
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Comments on the financial data: The company being an offshore, it was
not possible to verify the financial figures with the registered agent. |
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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 |
N/a
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GEOPOLITICS -
BERMUDA |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas
territory - Parliamentary system |
Currency: USD |
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BANKS |
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Name of the Bank |
HSBC |
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Location |
Bermuda |
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Comments |
This information could not be verified with the subject company. |
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BUSINESS HISTORY |
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Company registered in 1991 in Bermuda. |
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PRINCIPAL
ACTIVITY |
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GROWTH LINK OVERSEAS COMPANY LIMITED is an International Business
Company / Offshore Company incorporated in Bermuda for tax purposes. However the company does not carry any operation in the Bermuda. It is not registered with the Bermuda Chamber of Commerce as being a
local business. It is not listed with the Bermuda yellow pages. It is not listed with the major local credit bureaus. |
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The subject employs 0 employee(s) |
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Comments on
staff: |
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The company does not have any employee in Bermuda. It uses the
registered agent staff. |
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LOCATION |
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Headquarters |
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The address belongs to the Registered Agent: Veritas Place, 6th Floor 65 Court Street
 Hamilton HM 12, Bermuda |
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Comments on location: |
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The address mentioned above is that of the registered agent: Apex Law
Group Limited. |
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Final Opinion |
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We are reporting an offshore company which belongs to foreign shareholders.
Although it is registered in Bermuda, 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 700,000 based on the
financial information received from our banking sources. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.66 |
|
|
1 |
Rs.100.50 |
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Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.