MIRA INFORM REPORT

 

 

Report No. :

327298

Report Date :

16.06.2015

 

IDENTIFICATION DETAILS

 

Name :

GREATWATERS AGENCY LTD

 

 

Registered Office :

80 Broad Street, Monrovia

 

 

Country :

Liberia

 

 

Date of Incorporation :

12.03.2015

 

 

Com. Reg. No.:

9160217

 

 

Legal Form :

International Business Company (IBC)

 

 

Line of Business :

Shipping Agency

 

 

No. of Employees :

2

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

 

--

 

Status :

New Business

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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Liberia

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LIBERIA - ECONOMIC OVERVIEW

 

Liberia is a low income country that relies heavily on foreign assistance. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. It’s principal exports are iron ore, rubber, gold and timber. The Government has attempted to revive raw timber extraction and is encouraging oil exploration. In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during 2010-13 due to favorable world prices for its commodities. However, in 2014 as the Ebolavirus began to spread, the economy declined and many businesses departed, taking capital and expertise with them. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. Revitalizing the economy in the future will depend on increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, and maintaining political stability and security. The cost of addressing the Ebola epidemic will weigh heavily on public finances at the same time decreased economic activity reduces government revenue, although higher donor support will partly offset this loss.

 

Source : CIA

 

 

Company name

 

 

Registered Name:

GREATWATERS AGENCY LTD

Requested Name:

GREATWATERS AGENCY LTD

Other Names:

None

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

80 Broad Street,

 

Monrovia

Country:

Liberia

Phone:

231-77000400

Fax:

231-77000422

Email:

corporate@liscr.com

Website:

www.liberiancorporations.com

 

CREDIT OPINION

 

 

In the absence of a payment pattern and financial information, we would recommend that all dealings with the subject be on a secured basis.

 

LEGAL

 

 

Legal Form:

International Business Company (IBC)

Date Incorporated:

12-March-2015

IMO  Number:

9160217

Nominal Capital

LRD. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Undisclosed

Directors

 

The LISCR Trust Company

Agent

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

OPERATIONS

 

Shipping Agency

Imports:

Undislcosed

Exports:

Undislcosed

Trademarks:

Undislcosed

Terms of sale:

Undislcosed

 

 

Main Customers:

Undislcosed

Employees:

2 employees.

Vehicles:

Undislcosed

Territory of sales:

Liberia

Location:

Undislcosed

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

 

Currency Reported:

Liberian Dollar (LRD.)

Approx. Ex. Rate:

1 US Dollar = 84.50 Liberian Dollar

Fiscal Year End:

December 31, 2014

Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

BANK

 

 

Bank Name:

Global Bank Liberia

Branch:

Liberia

Comments:

None

 

 

COMMENTS/ADDITIONAL INFORMATION

 

This information was obtained from outside sources other than the subject company itself.

This Company is an International Business Company (IBC), which is registered in Liberia; According to the Liberian statutory law, The LISCR Trust Company (“the Registered Agent”) acts as the exclusive Registered Agent for all Liberian non-resident corporate entities.It is difficult to investigate such a Company due to the Liberian regulations protecting the non disclosure of the name of the shareholders.

According to Liberian business regulation, an International Business Company, is under no obligation to state its directors, officers and shareholders, also it’s under no obligation to file annual returns, prepare or submit company accounts to any authority.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.50

UK Pound

1

Rs.100.94

Euro

1

Rs.72.32

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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.