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MIRA INFORM REPORT
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Report No. : |
501579.2 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
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Name : |
CITY LOGISTICS INTERNATIONAL LTD |
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Registered Office : |
171 Main Street, Road Town, Tortola Vg1 110 |
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Country : |
British Virgin Islands |
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Date of Incorporation : |
06.03.2013 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is an International Business Company incorporated in British
Virgin Islands for tax purposes. |
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No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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British Virgin Islands |
A1 |
A1 |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
BRITISH VIRGIN ISLANDS - ECONOMIC OVERVIEW
The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. More than 934,000 tourists, mainly from the US, visited the islands in 2008. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959.
Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements.
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.
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Source : CIA |
STATUTORY
INFORMATION
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Legal Name: |
City Logistics International Ltd |
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Trade Name: |
CITY LOGISTICS LIMITED / City Logistics International Ltd The company is listed as CITY LOGISTICS LIMITED in business databases;
however, its correct legal name is City Logistics International Ltd. |
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ID: |
1776724 |
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Date Created: |
2013 |
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Date Incorporated: |
03/06/2013 |
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Legal Address: |
171 Main Street, Road Town, Tortola Vg1 110, British Virgin Islands |
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Operative Address: |
171 Main Street, Road Town, Tortola Vg1 110, British Virgin Islands |
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Telephone: |
1 284 394 9191 |
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Fax: |
1 284 346 4646 |
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Legal Form: |
Limited Company |
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Email: |
bvi@intertrustgroup.com |
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Registered in: |
British Virgin Islands |
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Website: |
www.intertrustgroup.com |
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Contact: |
INTERTRUST CORPORATE SERVICES (BVI) LIMITED |
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Staff: |
0 |
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Activity: |
This is an International Business Company (IBC) |
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BANKS
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British Virgin Islands Bank |
This information was not verified by the registered agent. |
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HISTORY
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The Company was incorporated in BVI in 2013. |
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PRINCIPAL
ACTIVITY
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City Logistics International Ltd is an International Business Company
incorporated in British Virgin Islands for tax purposes. This means that the company is registered in BVI due to benefits of
incorporation through a BVI company; the BVI advantages are extensive, and
for group companies or investment vehicles the low cost and the simplicity of
ongoing maintenance, and the positive impact on transaction costs. British Virgin Islands companies do not
add extra layers of taxation to the taxes investors already pay in their home
country, which creates a level playing field for investors from
jurisdictions. |
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Products/Services description: |
NA |
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Sales are: |
Wholesale |
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Clients: |
NA |
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Brands: |
NA |
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Suppliers: |
NA |
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Operations area: |
NA |
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The subject employs |
The company does not have any employee in British Virgin Islands. |
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Payments: |
Unknown |
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LOCATION
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Headquarters : |
The company does not operate in the country. It would use its address
for tax purposes. |
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Branches: |
NA |
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Possible related companies: |
City Logistics Ltd Unit D, G/F, 760-762 Cheung Sha Wan Rd, Kownloon, Hong Kong //not confirmed// |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Authorized Capital: |
NA |
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Shareholders %: |
The company is owned by foreign shareholders. Shareholders information
is not public. |
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Management: |
Intertrust Corporate Services (BVI) Limited Ritter House Wickhams Cay II Road Town Tortola |
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FINANCIAL
INFORMATION
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This is a private company which does not make its financial statements
public |
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LEGAL
FILINGS
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There are no adverse registered for this company. |
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Transaction History 1 03/06/2013 T130430292
Application for Incorporation (BC) Approved Application for Incorporation
(BC) Memorandum and Articles of the Company 2 03/06/2013
T130430182 Name Reservation (10 days) Approved Name Reservation (10 days) 3 30/05/2014
T140416922 Annual Fee Submission (BC) Approved Annual Submission 4 06/07/2016
T160463696 Annual Fee Submission (BC) Approved Annual Submission 5 10/02/2017
T170493601 Notice of Change of Registered Office Address Approved Notice Change Of Registered Office Address 6 31/03/2017 T170571161
Register of Members or Directors Approved Register of Directors 7 31/10/2017 T171184337 Annual Fee Submission (BC) Approved Annual
Submission Certificate History S.No Transaction No. Type of Certificate Date of Filing 1 T130430292 Certificate of Incorporation (Original) 03/06/2013 2 T160463696 Certificate of Restoration
06/07/2016 The company was struck off the Register but not dissolved, it made an
application to the Registrar to restore the company The applicant paid all outstanding fees and penalties due to the
Registry and a restoration fee. Once restored, the Registrar issued a
certificate of restoration. |
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SUMMARY
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This is an International Business Company which belongs to a company located
in British Virgin Islands. It is registered in British Virgin Islands for tax purposes and does
not operate within the country. It is managed by a resident registration
agent. The maximum Credit line provided is based on the company’s experience in
business; its transaction history and the fact that being a BVI Company; we
do not have access to its shareholders and financial statements since it is
not mandatory for the subject to file said details at the BVI Registry. However, the company shows no negative records; being ACTIVE in BVI
Registry. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Unknown |
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CASH FLOW |
Normal |
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STATUS |
Active |
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We also attach hereby the BVI Registry results on the company status. |
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INTERVIEW |
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NAME |
Intertrust Corporate Services (BVI) Limited |
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POSITION |
Agent |
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COMMENTS |
We contacted the agent in charge of the company. However, they refused
to provide any kind of data on the company for privacy reasons. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.35 |
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1 |
INR 92.70 |
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Euro |
1 |
INR 80.80 |
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USD |
1 |
INR 65.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
·
Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.