MIRA INFORM REPORT

 

 

Report No. :

342288

Report Date :

01.10.2015

 

IDENTIFICATION DETAILS

 

Name :

NIMOLAN TRADING LIMITED

 

 

Registered Office :

Trident Chambers, P.O. Box 146, Town Road, VG1110 Tortola

 

 

Country :

British Virgin Island

 

 

Date of Incorporation :

25.06.2014

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore Company

 

 

No. of Employees :

Not Available

 

 

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 :

Offshore 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

British Virgin Island

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRITISH VIRGIN ISLAND - ECONOMIC OVERVIEW

 

The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism generating an estimated 45% of the national income. More than 934,000 tourists, mainly from the US, visited the islands in 2008. In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by yearend 2000. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the British Virgin Islands even more attractive to international business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959.

 

Source : CIA

 

 

 

COMPANY SUMMARY

 

IDENTIFICATION

Ordered as:

Nimolan Trading Limited

Address in the order:

Trident Chambers, Road T, Tortola

 

 

Legal Name:

Nimolan Trading Limited

Legal Address

Trident Chambers

P.O. Box 146

Postal Town

Town Road

Post Code

VG1110

Primary Geographic Area

Tortola

Country

VG

Location Status

Single Location, Legal Address,

Mailing Address

P.O. Box 146

Road Town

Tortola VG1110

British Virgin Islands

Telephone:

1-284-494-2434

Registration Number:

1829444

Fax:

1-284-494-3754

Legal Form:

International Business Company

Email:

N.A.

Registered in:

VG

Website:

N.A.

Date Created:

2014

 

 

Date Incorporated:

June 25,2014

Staff:

0

Stock:

50 000 Shares

SIC Code:

6719

Value:

N.A.

Activity:

Offshore company

 

 

DIRECTORS/MANAGEMENT

 

Manager:

N.A.

 

Management:

 

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.

 

 

NEGATIVE INFORMATION

 

Legal Filings

 The sources consulted record no detrimental legal or labor court information.

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders Parent Company(ies):

 

The company is owned by foreign shareholders.

 

 

PAYMENT INFORMATION

 

PAYMENTS

 

made on a 20 days basis - monitored over the last 12 months

 

DEBT COLLECTIONS AND PAYMENTS

 

Public

NO

Payments

REGULAR

 

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.

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

RELATED COMPANIES:

 

The subject would be related to:

 

Nimolan Trading Limited

Ukraine

 

However, the subject being an offshore, the links could not be verified.

 

 

FINANCIAL INFORMATION

 

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

 

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

DATE

USD

2014

Turnover

0

Operating Income

341 000

Net Income

341 000

Net worth

400 000

Bank liabilities

0

The cash flow is

Good

 

FINANCIAL SUMMARY

Profitability

CORRECT

Indebtedness

CONTROLLED

Cash

GOOD

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

BANKS

Name of the Bank

HSBC

 

BUSINESS

PRINCIPAL ACTIVITY

 

Nimolan Trading Limited is an International Business Company / Offshore Company incorporated in the British Virgin Islands for tax purposes.

 

However the company does not carry any operation in the British Virgin Islands.

 

LINE OF BUSINESS : Finance and investment

 

Subject has the following purposes and objects: The principal object is to engage either in the Virgin Islands or abroad, in the purchase, sell, disposal, dealing, transfer, barter, ownership, negotiate, finance, administration to grant guaranties in favor of obligation of third parties with or without mortgage or pledge of the corporation assets, give or borrowing money in loan, giving or taking in commission, mortgage, security, lease, use, usufruct, or receivership, any kind of property, whether real or personal stock or rights, and make and accept all kinds of deals, contracts, operations, business and transactions of lawful commerce.

 

The corporation could engage also in fulfilling all activities, contracts, operations, business or transactions allowed by Law to the Corporation.

 

In particular it is engaged in financial intermediation operations, participation in overseas companies, shareholdings, overseas investments in general, etc.

 

 

According to informed by subject's resident agent, it is legally registered in the British Virgin Islands, with head offices abroad.

It means that subject uses the British Virgin Islands territory only as its legal and administrative address, but all its operations are carried out abroad.

 

It is under the same condition as many companies that are established in the British Virgin Islands, founded in order to protect their shareholder's investments and, to avail of tax exemption laws in that country.

 

Subject's annual business volume is not disclosed by its Resident Agent.

 

The subject employs 0 employee(s)

Comments on staff:

 

The subject uses the staff of the registered Agent.

 

LOCATION

Headquarters

 

The Address mentioned above is that of the registered agent:

 

Trident Trust Co. (B.V.I.) Ltd.

Trident Chambers

P.O. Box 146

Road Town

Tortola VG1110

British Virgin Islands

Tel#: 1-284-494-2434

Fax#: 1-284-494-3754

 

PHYSICAL ASSET HOLDINGS: No properties in the British Virgin Islands.  Possible properties abroad are unknown.

Business Overview:

 

BVI International Business Companies (IBCs) are the off-shore companies with a great number of advantages, such as:

 

1) Exemption from payment of any income tax;

2) Can conduct most business transactions (except conducting banking and insurance activities and other businesses with residents of the BVI; or to possess real estate in BVI);

3) Requires a minimum of only one shareholder and one director;

 

 

4) The directors and shareholders can be entities or individuals resident in any country;

5) The shares can be issued to the bearer or registered;

6) The Board of Directors can meet in any part of the world and even by telephone;

7) The payment of minimum capital is not required, and the shares can be issued at par or non par value;

8) The names of the Directors, Officers and shareholders do not need to be registered in a public record

9) No need to file annual reports nor tax returns;

10) Can transfer its domicile and continue existing as a company incorporated under the laws of a jurisdiction outside of BVI; a foreign company can also become a BVI IBC;

11) Neither the minutes book nor the shares book need to be certified by any authority of BVI;

12) It is not necessary to carry out Directors or shareholder meetings on a regular basis.

13) The name of the company must include the word 'Limited', 'Corporation' or 'Incorporation', or the abbreviation 'Ltd.', 'Corp.', 'Inc.' or 'S.A.'. Names in Chinese characters may also be recorded.

14) It is not necessary to issue shares of the company, unless the Board of directors decides so.

15) The IBC can be dissolved by resolution of the Board of directors, if no shares have been issued. In case that the shares have been issued, the company must be dissolved through a shareholders resolution.

16) All the dividends, interest, rents, royalties, compensations and other amounts paid by company established under the IBC Act to persons that are non-residents of BVI are exempt from payment of income tax. The capital gains earned from the sale of whatever shares or other securities of an IBC are also exempt from payment of any tax.

 

 

Listed at the stock exchange:

 

NO

 

 

NOTES & COMMENTS

 

Final Opinion

 

We are reporting upon a finance and investments company which belongs to foreign shareholders. Although it is registered in the British Virgin 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. As there are no visible assets, and taking into account also that it is unknown as making use of credit facilities, credit in general must be regarded as a matter of confidence, and amounts of certain importance would have to be secured by collateral.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.74

UK Pound

1

Rs.99.53

Euro

1

Rs.73.80

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

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.