MIRA INFORM REPORT

Report No. :	508337
Report Date :	12.05.2018

IDENTIFICATION DETAILS

Name :	MORRITO MARITIME INC
Registered Office :	Morning Star Holdings Limited (Registered Agent) Hunkins Plaza Main Street Suite 556 Charlestown
Country :	Nevis
Legal Form :	Corporation
Line of Business :	Subject is an 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 :	Exist

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	MORRITO MARITIME INC
Trade Name	MORRITO MARITIME INC
ID	Reg. Number
ID Details	NA
Creation Date	2004
Incorporation Date	2004
Legal Address	Morning Star Holdings Limited (Registered Agent) Hunkins Plaza Main Street Suite 556 Charlestown, Nevis, West Indies
Operative Address	Morning Star Holdings Limited (Registered Agent) Hunkins Plaza Main Street Suite 556 Charlestown, Nevis, West Indies
Telephone	1-869-469-1817 (Registered Agent)
Fax	1-869-469-1794 (Registered Agent)
Legal Form	CORPORATION
E-Mail	info@morningstarnevis.com (Registered Agent)
Registered In	NEVIS
Website	www.morningstarnev.com (Registered Agent)
Contact	Morning Star Holdings Limited (Registered Agent)
Staff	0 / The company does not have any employee in NEVIS
Activity	IBC

Banks
Name of Bank	Reported Amount
There are not informed banks
Description	The company does not make its banking data public.

History
History	The company was founded in 2004
Key Developments	NA
Parent Company	NA

Principal Activity

General Description

MORRITO MARITIME INC 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.

Service/Product Description

NA

Sales

NA

Operations Area

International

Imports From

Russia

Employees

0 / The company does not have any employee in NEVIS

Payments With Suppliers

NA

Brands
Brand	Comments
There are not informed brands

Clients
Name of Client	Country	Comments
There are not informed clients

Comments

NA

Suppliers
Supplier Name	Country	Comments
Kamchatka Shipping Company	RUSSIA	NA
Malta Shipbuilding Co.Ltd.	RUSSIA	NA

Comments

NA

Location
Headquarters	Morning Star Holdings Limited (Registered Agent) Hunkins Plaza Main Street Suite 556 Charlestown, Nevis, West Indies
Branches	The company does not have branches
Related Companies	Supplier: DTA Ship Trading LLC, Dubai, UAE

Group Structure and Subdiary Companies
Listed at the stock exchange	NO
Capital	NA
Shareholders (%)	This is a private company. The company does not disclose information on shareholders. Despite our long search, we could not confirm major holders
Management	Morning Star Holdings Limited (Registered Agent) MOSTAFA, Local Agent
Subsidiary Companies	NA
Related Companies	NA

Financial Information
General Description	The company does not make its financial statements public. Despite our long search, we could not confirm financial figures for the subject.

Legal Filings
Description	NA
Lawsuits	Calcutta High Court Morrito Maritime Inc vs The Owners & Parties Interested In ... on 22 October, 2008 Author: Sanjib Banerjee T NO. 117 OF 2008 TA No. 118 of 2008 IN THE HIGH COURT AT CALCUTTA Admiralty Jurisdiction MORRITO MARITIME INC. Versus THE OWNERS & PARTIES INTERESTED IN THE VESSEL M. V. TZENI & ANR. For Plaintiff: Mr. Ratnanko Banerjee, Mr. K. K. Thakkar, Advs. BEFORE: The Hon'ble JUSTICE SANJIB BANERJEE Date : 22nd October, 2008. (VACATION BENCH) The Court : The plaintiff relies on Article 1 (u) and (v) of the International Convention on the Arrest of Ships to say that there is a maritime claim for which it is entitled to proceed against the vessel and invoke the admiralty jurisdiction. The plaintiff claims to have entered into a contract for sale of the defendant vessel. The plaintiff has paid a total sum of US$ 1223,817.93 to the second defendant owners and relies on a deed of mortgage executed by the owners in favour of the plaintiff in respect of the vessel. The plaintiff says that the principal dispute is on account of the dues of the crew which the owners have not discharged and may attach as a maritime lien on even an innocent purchaser upon the sale being concluded. The defendant vessel now remains berthed in Alang, Gujarat. Since it appears that substantial sums have been paid by the plaintiff following the contract for sale of the vessel, the vessel M. V. Tzeni is arrested with its tackle, apparel and furniture and shall remain arrested till further orders. Doubtless, the plaintiff will remain liable to compensate the owners if it is ultimately found that the order of arrest was improperly obtained. The matter is made returnable on October 27, 2008. The plaintiff will serve the affidavit of arrest on the defendants. Leave is given to the plaintiff to immediately correct the typographical mistakes in the verification paragraph of the affidavit of arrest in presence of an officer of court. All parties concerned including the Marshall and Port and Customs Authorities will act on a photostat signed copy of this order on the plaintiff's usual undertakings. (SANJIB BANERJEE, J.) Kc. R.O.(ct.) Calcutta High Court Morrito Maritime Inc vs The Owners & Parties Interested In ... on 7 July, 2009 Author: Aniruddha Bose T No. 35 of 2009 IN THE HIGH COURT AT CALCUTTA Admiralty Jurisdiction ORIGINAL SIDE MORRITO MARITIME INC Versus THE OWNERS & PARTIES INTERESTED IN THE VESSEL MV SIMAYAZD & ANR. BEFORE: The Hon'ble JUSTICE ANIRUDDHA BOSE Date : 7th July, 2009. The Court : Yesterday, i.e. July 6, 2009, leave of this Court was obtained for taking out an interlocutory application unlisted with the prayer for arrest of a vessel. Today, Mr. Banerjee, learned counsel appearing for the plaintiff, submits that the dispute by and between the parties has been settled and he prays for leave of this Court to withdraw the suit as also the interlocutory application. Such leave is granted. Since no order has been passed earlier in this matter and the matter has not been listed, I am granting such leave on his oral prayer without directing the matter to be listed. Accordingly, the suit and the interlocutory application are both dismissed as not pressed. There will be no order as to costs. (ANIRUDDHA BOSE, J.) tk
Trademarks	No found
Patents Registered	No records found
Renewals	No records found
UCC (Uniform Commercial Code)	NA
OFAC Sanctions List Search	The company is not listed in the OFAC list.

Summary

Summary

Founded in 2004, MORRITO MARITIME INC 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. It mainly imports from Russia, operating within international markets. This has been an ACTIVE company incorporated in NEVIS in 2004.

Risk Information
Debts	Controlled
Payments	Unknown
Cash Flow	Normal
State	ACTIVE

Interview
First Name	NA
Position	Operator / Finance (Resident Agent)
Comments	We confirmed that Morning Star is the company`s Resident Agent. The operator confirmed Resident Agent`s information but explained that she was not allowed to provide further information through the phone. She said she could not provide the REG. NUMBER of the company through the phone, given that it could only be done by sending an email to Morning Star (Resident Agent).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.87
Euro	1	INR 80.87
XCD	1	INR 24.94

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

INFORMATION DETAILS

Analysis Done by :	PRA
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.