MIRA INFORM REPORT

Report No. :	324109
Report Date :	29.05.2015

IDENTIFICATION DETAILS

Name :	RICH COMPONENTS LTD
Registered Office :	103 Sham Peng Tong Plaza, P. o. Box Victoria, Mahe
Country :	Seychelles
Date of Incorporation :	05.06.2013
Com. Reg. No.:	132115
Legal Form :	International Business Company (IBC)
Line of Business :	Subject is engaged in Consultancy firm.
No. of Employee :	2

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 :	International business 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.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Seychelles	B2	B2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SEYCHELLES ECONOMIC OVERVIEW

Since independence in 1976, per capita output in this Indian Ocean archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle-income group of countries. Growth has been led by the tourist sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing. In 2008, having depleted its foreign exchange reserves, Seychelles defaulted on interest payments due on a $230 million Eurobond, requested assistance from the International Monetary Fund (IMF), and immediately enacted a number of significant structural reforms, including liberalization of the exchange rate, reform of the public sector to include layoffs, and the selling of some state assets. In December 2013, the IMF declared that Seychelles had successfully transitioned to a market-based economy with full employment and a fiscal surplus.

Source : CIA

Company NAME
Registered Name:	RICH COMPONENTS LTD
Requested Name:	RICH COMPONENTS LTD
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	103 Sham Peng Tong Plaza,
Postal Address:	P. o. Box
	Victoria, Mahe
Country:	Seychelles
Phone:	248-4323464
Cell:	248-2713664
Fax:	248-4324328
Email:	info@apollo.sc
Website:	www.apollo-international.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. We recommend secured transaction only.
LEGAL
Legal Form:		International Business Company (IBC)
Date Incorporated:		05-June-2013
Reg. Number:		132115
Nominal Capital		USD. 10,000
Subscribed Capital		USD. 10,000
Subscribed Capital is Subscribed in the following form:
		Position	Shares
Information not Availed		Directors
Apollo Business Solutions (Pty) Ltd		Trustee/Agent
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Consultancy firm
Imports:		Undisclosed
Exports:		Undisclosed
Trademarks:		None
Terms of sale:		Undisclosed
Main Customers:		Undisclosed
Employees:		2 employees.
Vehicles:		Undisclosed
Territory of sales:		Offshore
Location:		Undisclosed
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Seychelles Rupee (SCR.)
Approx. Ex. Rate:		1 US Dollar = 13.64 Seychelles Rupee
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:		MCB BANK
Branch:		Seychelles
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 Seychelles; It is difficult to investigate such a Company due to the Seychelles regulations protecting the non disclosure of the name of the shareholders. According to Seychelles 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. The identities and personal details of the beneficial owners, directors and shareholders are NOT part of public record for a Seychelles IBC. At registration of a new IBC, the Registrar of Companies does not require any data whatsoever on who is the actual beneficial owner of the new company. This information is only known to the licensed Registered Agent of the company and is kept on internal file by the company. The internal corporate files of the IBC, like the Register of Members, Register of Directors and all Minutes and Resolutions, are kept at the offices of the Registered Agent. The company is incorporated with an agent who is also the legal officer who represents the company. It is difficult to investigate due to the Seychelles regulations protecting the non disclosure of the name of the shareholders. We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in the Seychelles Islands, 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. However our banking sources confirm that the company has good financial standing and payments are regular. This company is located in the Seychelles Islands only for taxes purposes; it was difficult to investigate due to the Seychelles regulations protecting the non disclosure of the name of the shareholders. The company is incorporated with an agent who is also the legal officer who represents the company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.90
UK Pound	1	Rs.98.16
Euro	1	Rs.69.74

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ANK

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%)

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