MIRA INFORM REPORT

 

 

Report No. :

494003

Report Date :

01.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SAPURAKENCANA 3500 LTD

 

 

Registered Office :

4 Burnaby Street Hamilton HM11

 

 

Country :

Bermuda

 

 

Date of Incorporation :

05.03.2014

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Subject is an International Business Company incorporated in Bermuda for tax purposes.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

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

Bermuda

A1

A1

 

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

 

 

BERMUDA - ECONOMIC OVERVIEW

 

Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.

 

Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant new foreign investment. Bermuda's FY15/16 budget projects a 12% larger deficit than FY14/15. The government announced it would borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US.

 

Source : CIA

 

 

 

STATUTORY INFORMATION

 

Legal Name:

SAPURAKENCANA 3500 LTD

Trade Name:

SAPURAKENCANA 3500 LTD

ID:

48797

Date Created:

2014

Date Incorporated:

5 March 2014

Legal Address:

4 Burnaby Street Hamilton HM11 Bermuda

Operative Address:

4 Burnaby Street Hamilton HM11 Bermuda

Telephone:

NA

Fax:

NA

Legal Form:

Limited Company

Email:

NA

Registered in:

Bermuda

Website:

NA

Contact:

THISTLE HOUSE

Staff:

0

Activity:

This is an International Business Company (IBC)

BANKS

Central Bank of Bermuda

 

The company does not make its banking data public.

 

 

HISTORY

 

Founded in 2014, it operates as part of Malaysian headquartered company Sapura Energy Berhad.

 

Sapura Energy Berhad Key Developments

 

Sapura Energy Bhd Wins Contract of MYR 905 Million for Engineering, Procurement, Construction and Commissioning as Well as Transportation and Installation Works

Feb 6 18

Sapura Energy Bhd has been awarded contracts with a combined value of about MYR 905 million for engineering, procurement, construction and commissioning as well as transportation and installation works.

 

Sapura Energy Berhad Announces Resignation of Datuk Ramlan Bin Abdul Rashid as Independent and Non-Executive Member of Audit Committee

Jan 30 18

Sapura Energy Berhad announced resignation of Datuk Ramlan Bin Abdul Rashid as Independent and Non-Executive Member of Audit Committee of the company, effective January 31, 2018.

 

Sapura Energy Berhad Announces Resignation of Yam Tunku Alizakri Bin Raja Muhammad Alias as Non Independent and Non Executive Director

Jan 30 18

Sapura Energy Berhad announced the resignation of Yam Tunku Alizakri Bin Raja Muhammad Alias as Non Independent and Non Executive Director due to other business commitments, effective January 31, 2018.

 

 

PRINCIPAL ACTIVITY

 

 

SAPURAKENCANA 3500 LTD is an International Business Company incorporated in Bermuda for tax purposes.

The company uses the registrant address but does not carry any operation in the country.

 

It is not registered in Bermuda as being a local business company.

 

It is not listed with the Bermuda commercial pages.

Products/Services description:

Vessel owner and chartering

Brands:

NA

Sales are:

NA

Clients:

NA

Suppliers:

NA

Operations area:

NA

The subject employs

0

Payments:

Unknown

 

 

LOCATION

 

Headquarters :

The company uses this address to operate within the country. However, it is not its real operative address.

Branches:

NA

Industry:

NA

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders %:

Parent Company:

TL Offshore Sdn Bhd

Level 8 And 9

Sapura @ Mines

No. 7 Jalan Tasik

The Mines Resort City

Seri Kembangan,  43300

Malaysia

 

Ultimate Parent Company:

SAPURAKENCANA PETROLEUM BERHAD

No. 7 Jalan Tasik

The Mines Resort City

Seri Kembangan,  43300

Malaysia

Management:

THISTLE HOUSE

4 Burnaby Street Hamilton

HM11 Bermuda

Related Companies:

SapuraKencana 1200 Ltd

SapuraKencana FLB-1 Ltd

 

FINANCIAL INFORMATION

 

 

This is a private company which does not make its financial statements public. 

 

 

LEGAL FILINGS

 

 

 

 

There are no financial records available for the company

 

 

SUMMARY

 

 

This is an International Business Company which does not belong to a company located in Bermuda.

 

It is registered in the island for tax purposes and does not operate within the country.

 

It is managed by a resident registration agent.

 

 

RISK INFORMATION

 

DEBTS

ControIIed

PAYMENTS

Unknown

CASH FLOW

Normal

STATUS

Active

 

 

ENTERVIEW

 

NAME

NA

POSITION

Financial Services Authority

COMMENTS

The agency refused to provide any data for privacy reasons.

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.10

UK Pound

1

INR 90.45

Euro

1

INR 79.59

BMD

1

INR 65.27

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TPT

 

 

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)

 

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.