MIRA INFORM REPORT

Report No. :	488305
Report Date :	29.01.2018

IDENTIFICATION DETAILS

Name :	SICARO GROUP CORP
Registered Office :	C/O: Morning Star Holdings Limited Hunkins Plaza Main Street Suite 556 Charlestown
Country :	Saint Kitts and Nevis
Date of Incorporation :	1994
Legal Form :	Corporation
Line of Business :	Subject is an International Business Company incorporated in Saint Kitts And Nevis for tax purposes.
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Saint Kitts and Nevis	C1	C1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SAINT KITTS AND 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. Roughly 200,000 tourists visited the islands in 2009, but reduced tourism arrivals and foreign investment led to an economic contraction in the 2009-2013 period, and the economy returned to growth only in 2014. Like other tourist destinations in the Caribbean, Saint Kitts and Nevis is vulnerable to damage from natural disasters and shifts in tourism demand.

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. The government has made notable progress in 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. Saint Kitts and Nevis is among other countries in the Caribbean that supplement their economic activity through economic citizenship programs, whereby foreigners can obtain citizenship from Saint Kitts and Nevis by investing there.

Source : CIA

STATUTORY INFORMATION
Legal Name:	Sicaro Group Corp
Trade Name:	Sicaro Group Corp
ID:	NA
Date Created:	1994
Date Incorporated:	2011
Legal Address:	C/O: Morning Star Holdings Limited Hunkins Plaza Main Street Suite 556 Charlestown Saint Kitts And Nevis
Operative Address:	C/O: Morning Star Holdings Limited Hunkins Plaza Main Street Suite 556 Charlestown Saint Kitts And Nevis
Telephone:	1-869-469-1817 (Registered Agent)
Fax:	1-869-469-1794 (Registered Agent)
Legal Form:	Corporation
Email:	info@morningstarnevis.com (Registered Agent)
Registered in:	Saint Kitts And Nevis
Website:	www.morningstarnev.com (Registered Agent)
Contact:	Morning Star Holdings Limited (Registered Agent)
Staff:	0 / The company does not have any employee in Saint Kitts And Nevis
Activity:	IBC
BANKS
	The company does not make its banking data public
HISTORY
	The company was founded in 1994
PRINCIPAL ACTIVITY
	Sicaro Group Corp is an International Business Company incorporated in Saint Kitts And Nevis for tax purposes. The company uses the registrant address but does not carry any operation in the country. It is not registered in Saint Kitts And Nevis as being a local business company. It is not listed with the Saint Kitts And Nevis commercial pages. We have found that Sicaro Group Corp is a relatively mature organization in the holding companies industry located in Charlestown, St Kitts-Nevis.
Products/Services description:	NAICS 1: Offices of Other Holding Companies SIC 1: Investment Holding Companies, Except Banks
Brands:	NA
Sales are:	NA
Clients:	International companies
Suppliers:	NA
Operations area:	International
The subject employs	0 / The company does not have any employee in Saint Kitts And Nevis
Payments:	Unknown
LOCATION
Headquarters :	C/O: Morning Star Holdings Limited Hunkins Plaza Main Street Suite 556 Charlestown Saint Kitts And Nevis
Comments:	NA
Branches:	The company does not have branches
Main Competitors	Afrotrade C/O: Morning Star Holding Knightsbridge Fs Limited Ams Trustees (Nevis) Ltd., 3 B Limited C/O Dixart Management Mind Power Corporation C/O Equity Management & Accounting Corp Millander International Limited C/O Morning Star Holdings Limited
Related Companies:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. The company does not disclose information on shareholders. We could not confirm major holders.
Management:	Morning Star Holdings Limited (Registered Agent)
FINANCIAL INFORMATION
	The company does not make its financial statements public. Despite our long search, we could not confirm financial information related to the company.
LEGAL FILINGS
Cases:	No found
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1994, Sicaro Group Corp is an International Business Corporation. We have found that Sicaro Group Corp is a relatively mature organization in the holding company’s industry located in Charlestown, St Kitts-Nevis. This has been an ACTIVE company incorporated in Saint Kitts And Nevis in 2011.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Unknown
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	NA
POSITION	NA
COMMENTS	Despite we tried to contact the company several times, it did not answer, so we could not confirm further information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.50
UK Pound	1	INR 90.92
Euro	1	INR 79.07
XCD	1	INR 0.016

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.