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Report No. : |
323139 |
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Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MORITTO MARITIME INC |
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Registered Office : |
Hunkins Plaza, Main Street, Suite 556, Charlestown |
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Country : |
Nevis |
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Date of Incorporation : |
2003 |
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Legal Form : |
International Business 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 Employees : |
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 : |
-- |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Nevis |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
NEVIS 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.
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Source
: CIA |
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Legal Name: |
MORITTO MARITIME INC |
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Legal Address |
Hunkins Plaza, Main Street, Suite 556, (Registered Agent) |
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Postal Town |
Charlestown |
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Post Code |
N.A. |
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Primary Geographic Area |
N.A. |
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Country |
KN |
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Location Status |
Legal Address, |
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Telephone: |
(869) 469-1333 (Registered Agent) |
Registration Number : |
N.A. |
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Fax: |
(869) 469-0968 (Registered Agent) |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
KN |
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Website: |
N.A. |
Date Created: |
2003 |
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MANAGERS: |
N.A. |
Date Incorporated: |
N.A. |
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Staff: |
0 |
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 owned by foreign shareholders. The agent declined to give any information on the
subject, who is protected by the law of non-disclosure. |
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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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Payments |
REGULAR |
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RELATED
COMPANIES: |
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Despite our long searches we were unable to find any
link that would be related to MORITTO MARITIME INC. |
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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 |
3
700 000 |
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Net
Income |
3
700 000 |
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Net
worth |
19
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 |
GOOD |
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Indebtedness |
NIL |
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Cash |
NORMAL |
N/a
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GEOPOLITICS - SAINT KITTS
AND NEVIS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Commonwealth Realm -
Parliamentary system |
Currency: 100 XCD = 37.03 USD |
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BANKS |
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Name of the Bank |
First
Bank |
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Comments |
This information was not verified by the registered
agent. |
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BUSINESS HISTORY |
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The creation date (2003) was not verified by the
registered agent. |
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PRINCIPAL ACTIVITY |
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MORITTO MARITIME INC is an International Business Company
or Offshore Company incorporated in St. Kitts and Nevis for tax purposes. However the company does not carry any operation in
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. |
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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 the St.
Kitts and Nevis. It uses the registered
agent staff. |
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LOCATION |
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Headquarters |
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Hunkins Plaza, Main Street, Suite 556, Charlestown,
St. Kitts and Nevis. |
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Comments
on location: |
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The address mentioned above is that of the registered
agent: Meridian Trust Company 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 the 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
|
|
1 |
Rs. 99.66 |
|
Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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|
|
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Report Prepared
by : |
DPT |
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.