MIRA INFORM REPORT

Report No. :	512171
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	DANAE INTERNATIONAL CORPORATION
Registered Office :	PO Box 583, Morton House, Government Road, Charlestown, Nevis
Country :	Nevis
Date of Incorporation :	25.09.2014
Legal Form :	Privately Held Corporation
Line of Business :	Subject Company is International Business Company incorporated in 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 (30.09.2017)	Current Rating (31.12.2017)
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

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:	Danae International Corporation
Trade Name:	Danae International Corporation
ID:	C44147
Date Created:	2014
Date Incorporated:	25 09 2014
Legal Address:	PO Box 583, Morton House, Government Road, Charlestown, Nevis
Operative Address:	PO Box 583, Morton House, Government Road, Charlestown, Nevis
Telephone:	001 507 202 0526
Fax:	-
Legal Form:	Privately Held Corporation
Email:	karla@omaltd.com
Registered in:	Nevis
Website:	The company does not have a website.
Contact:	Hamilton Trust Company
Staff:	0
Activity:	IBC
BANKS	Bank of the St. Kitss and Nevis Commerzbank Belgium
History:	The company was registered in 2014.
PRINCIPAL ACTIVITY
Danae International Corporation is an International Business Company incorporated in Nevis for tax purposes. The company may conduct international trade, investment activities, as a special purpose entity, by professionals and for asset protection. It may be involved in buying and selling goods and services, hold bank accounts and operate businesses. It is not registered in Nevis as being a local business company. It is not listed with the Nevis commercial pages.
Products/Services description:	NA
Brands:	NA
Sales are:	NA
Clients:	NA
Suppliers:	ОАО СЕВЕРНОЕ МОРСКОЕ ПАРОХОДСТВО
Operations area:	National and International
The company imports from	RUSSIA JAPAN GERMANY ITALY MIDDLE EAST USA UNITED KINGDOM CHINA SOUTH KOREA EUROPE FAR EAST
The company exports to	CHINA INDIA BANGLADESH
The subject employs	The company does not have any employee in St. Kitts and Nevis
Payments:	Unknown
LOCATION
Headquarters :	PO Box 583, Morton House, Government Road, Charlestown, Nevis
Branches:	NA
Related Companies:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a company located in the Island for tax purposes with foreign shareholders.
Management:	Geovany Morales Vasquez - Director
	Hamilton Trust Company P O Box 583 Morton House Government Road Charlestown Nevis West Indies
FINANCIAL INFORMATION
This is a private company which does not make its financial figures public.
There are no financial connected to the subject
LEGAL FILINGS
There are no legal records connected to the subject
SUMMARY
This is an International Business Company which does not belong to a company located in Nevis. It is registered in Nevis for tax purposes and does not operate within the country, but uses location for trading transactions. It is managed by a resident registration agent.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Unknown
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	-
POSITION	-
COMMENTS	We called number 001 507 202 0526 several times and received no answer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.45
UK Pound	1	INR 89.79
Euro	1	INR 78.79
XCD	1	INR 24.87

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

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.