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Report No. : |
350345 |
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Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
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Name : |
FORESCHEM CO LTD |
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Registered Office : |
C/O: The Trust Company of The Marshall Islands, INC - Trust Company Complex, Ajeltake Road, Ajeltake Island, 96960, Majuro |
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Country : |
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Date of Incorporation : |
07.06.2011 |
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Com. Reg. No.: |
48152 |
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Legal Form : |
International Business Company |
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Line of Business : |
Activities of head offices [We tried to confirm 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 : |
International Business 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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Marshall Islands |
C2 |
C2 |
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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 |
MARSHALL ISLANDS - ECONOMIC OVERVIEW
US assistance and lease payments for the use of Kwajalein Atoll
as a US military base are the mainstay of this small island country. The
Marshall Islands received roughly $1 billion in aid from the US during
1986-2001 under the original Compact of Free Association (Compact). In 2002 and
2003, the US and the Marshall Islands renegotiated the Compact's financial
package for a 20-year period, from 2004 to 2024. Under the amended Compact, the
Marshall Islands will receive roughly $1.5 billion in direct US assistance.
Agricultural production, primarily subsistence, is concentrated on small farms;
the most important commercial crops are coconuts and breadfruit. Industry is
limited to handicrafts, tuna processing, and copra. Tourism holds some
potential. The islands and atolls have few natural resources, and imports exceed
exports. Under the amended Compact, the US is also funding, jointly with the
Marshall Islands, a Trust Fund for the people of the Marshall Islands that will
provide an income stream beyond 2024 when direct Compact aid is to end.
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Source
: CIA |
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Business Name |
FORESCHEM CO LTD |
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Country |
MARSHALL ISLANDS |
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Company Registration Number |
48152 |
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Main Activity Code |
7010 |
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Main Activity Description |
Activities of head offices |
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Company Status |
(Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
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Basic INFORMATION |
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Business Name |
FORESCHEM CO LTD |
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Registered Company Name |
FORESCHEM CO LTD |
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Company Registration Number |
48152 |
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Country |
Marshall Islands |
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VAT Registration Number |
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VAT Registration Date |
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Date of Company Registration |
2011-06-07 |
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Date of Starting Operations |
2011-01-01 |
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Commercial court |
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Legal form |
International business company |
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Company status |
Active |
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Contact telephone number |
NA |
Main Address |
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Address |
Country |
Telephone |
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C/O: The Trust Company of The
Marshall Islands, INC - Trust Company Complex, Ajeltake
Road, Ajeltake Island, 96960, Majuro |
Marshall Islands |
N.A. |
other Address |
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Address |
Country |
Telephone |
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No other addresses
for this company |
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previous address |
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Address |
Country |
Telephone |
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No other addresses
for this company |
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Activity Code Activity Description
7010 Activities of head offices
No email for this company.
No web pages for this company.
Date Reported Number
of Employees
2015 0
Banker Name Banker
Address Phone Number
BOMI
Auditor Name Solicitor
Name
No advisor information for this company.
Fax Number N.A.
Export Countries
Import Countries
Additional Business Information Business Overview: Business Licenses: For a foreign investor to do business in the Marshall Islands as an individual, a partnership, a joint venture, or a corporation (domestic or foreign), the investor must first obtain a Foreign Investment Business License. Application forms for a Foreign Investment Business License may be obtained from the Registrar of Foreign Investment in the Office of the Attorney General. Applications are then reviewed by the sectoral Ministries and Agencies. The process of review and approval normally takes no longer than four to six weeks (often less). The National Government does not require foreign investors to obtain any other licenses, unless they are involved in regulated activities (e.g., the practice of law, the practice of medicine, banking, fishing, fishing base operation, etc.). If a business entity has a Foreign Investment Business License, it need not obtain a business license from the local government in whose jurisdiction it operates for a period of one year from the date of issuance of the foreign investment license.
Foreign Corporations: If an investor chooses to do business in the Marshall Islands through a foreign corporation, partnership, trust, unincorporated association, or other entity, he/she can file with the Registrar of Corporations an Application for Registration of a Foreign Entity to do Business in the Marshall Islands.
Additional Rating Information Local credit bureau did not rate this company. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Additional Payment Information Made on a 20 days basis - monitored over the last 12 months
Additional Financial Information As a private company the subject does not publish any financial
statements. 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. Currency: USD Date: 2014 Turnover: 0 Operating Income: 3 920 000 Net Income: 3 920 000 Net worth: N.A. Bank Liabilities: 0. The cash flow is good
Number of Employees at Address 0
Number of Employees at Group
Number of Employees at Factory
Principal Activity
At the address
requested is located the office of The Trust Company of the Marshall Islands,
which is the registered agent for all the foreign companies incorporated in the
Marshall Islands. From The Trust Company of the Marshall Islands: In accordance
with the of the Trust Company of the Marshall Islands, Inc., The Republic of
the Marshall Islands Registrar of Corporations, the above Corporation filed
Articles of Incorporation on 07-JUN-2011 and remains an existing Corporation.
The registered address of the Corporation in the Marshall Islands is Trust
Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
MH96960. The name of the corporation's registered agent at such address is The
Trust Company of the Marshall Islands, Inc. Pursuant to the Marshall Islands
Business Corporations Act, Marshall Islands non-resident domestic corporations
are not required to publicly file information with the Registrar of
Corporations regarding the company's business activities, accounts, directors,
officers, or shareholders. As such the Trust Company of the Marshall Islands,
Inc. is unable to produce any such information. FORESCHEM CO., LTD. is an
International Business Company / Offshore Company incorporated in The Marshall
Islands for tax purposes. However the company does not carry any operation in
The Marshall Islands. It is not registered with The Marshall Islands Chamber of
Commerce as being an active business. It is not listed with The Marshall
Islands yellow pages. It is not listed with the major local credit bureaus.
Trade References
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 subject's payment performance and general reputation regarding commitments contracted as same it is UNKNOWN as making use of credit facilities.
Comments on Staff
The company does not
have any employee in The Marshall Islands. It uses the registered agent staff.
Listed at the
Stock Exchange
No
Shareholders
Parent Company(ies)
The company is
owned by foreign shareholders.
Management
It is locally
managed by the registered agent mentioned above. The agent refused to provide
any information on the company which is protected by the laws of non
disclosure.
Related Companies
The company would
be related to: ForesChem Co., Ltd. Transportation services. No. 37 Jinqiao
Road, Zhangdian District, Zibo, Shandong, China, P.O. Box. 255000 Tel:
0086-533-3112891 Fax: 0086-533- 3112891 E-mail: sales@foreschem.com Website:
www.foreschem.com. However, the subject being an offshore, the link could not
be verified.
Final Opinion
We are reporting
an offshore company which belongs to foreign shareholders. Although it is
registered in The Marshall 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. A credit line may
be considered for USD 50 000.
No financial information for this company.
Directors/Managers
No directors information for this company
Share Capital Structure
No share capital information for this company
Group Structure
No group structure information for this company
Negative Information
The sources consulted record no detrimental legal or labor court
information.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.38 |
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1 |
Rs.100.45 |
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Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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.