MIRA INFORM REPORT

 

 

Report No. :

509769

Report Date :

21.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MRA INTERNATIONAL LIMITED

 

 

Registered Office :

3A Haughton Avenue, Half Way Tree, Saint Andrew

 

 

Country :

Jamaica

 

 

Date of Incorporation :

24.07.2017

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Subject is engaged in Wholesale Trade of Pet Regrind.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

NB

 

Credit Rating

Explanation

Rating Comments

NB

New Business

No recommendation can be done due to business in infancy stage

 

Status :

New Business

 

 

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)

Jamaica

B1

B1

 

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

 

 

JAMAICA - ECONOMIC OVERVIEW

 

The Jamaican economy is heavily dependent on services, which accounts for more than 70% of GDP. The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina. Earnings from remittances and tourism each account for about 15% of GDP, while bauxite/alumina exports have declined to less than 5% of GDP.

 

Jamaica's economy has grown on average less than 1% a year for the last three decades and many impediments remain to growth: a bloated public sector which crowds out spending on important projects; high crime and corruption; red-tape; and a high debt-to-GDP ratio. Jamaica, however, has made steady progress in reducing its debt-to-GDP ratio from a high of almost 150% in 2012 to about 115% in 2017, in close collaboration with the International Monetary Fund. The existing Stand By Agreement requires Jamaica to produce an annual primary surplus of 7%, in an attempt to reduce its debt burden below 60% by 2025.

 

Economic growth reached 1.6% in 2016. The HOLNESS administration faces the difficult prospect of maintaining fiscal discipline to make debt payments while simultaneously attacking a serious crime problem. High unemployment exacerbates the crime problem, including gang violence fueled by the drug trade.

 

Source : CIA

 

 

STATUTORY INFORMATION

 

Legal Name:

MRA INTERNATIONAL LIMITED

Trade Names:

MRA INTERNATIONAL LIMITED

ID:

94877 (Local)

Date Created:

2017

Date Incorporated:

24 Jul 2017

Legal Address:

3A HAUGHTON AVENUE, HALF WAY TREE,

SAINT ANDREW, JAMAICA

Operative Address:

3A HAUGHTON AVENUE, HALF WAY TREE,

SAINT ANDREW, JAMAICA

Telephone:

NA

Fax:

NA

Legal Form:

LIMITED COMPANY

Email:

-

Registered in:

JAMAICA

Website:

The company does not have a website.

Contact:

Mukesh Singh - Secretary         

Staff:

NA

Activity:

NAICS code 42 - Wholesale Trade

 

 

Banks:

The company does not disclose its banking details.

 

History:

The company was founded in 2017.

 

 

 

PRINCIPAL ACTIVITY

 

 

We have MRA INTERNATIONAL LIMITED as being an incorporated company in JAMAICA.

 

However, there are no commercial details on the subject.

 

It is not listed with yellow pages or major credit bureaus.

Products/Services description:

NA

Brands:

NA

Sales are:

Wholesale

Clients:

Ni-met Polymers Inc

Suppliers:

NA

Operations area:

National and International

The company imports from

No import records found.

The company exports to

CANADA

The subject employs

NA

Payments:

Unknown

 

 

LOCATION

 

Headquarters :

3A HAUGHTON AVENUE, HALF WAY TREE,

SAINT ANDREW, JAMAICA

Comments on Address:

-

Branches:

No other branches were found.

Related Companies:

No related companies were found.

 

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders:

The company does not disclose information on shareholders. We were not able to confirm major holders.

Management:

Mukesh Singh - Secretary         

 

 

 

FINANCIAL INFORMATION

 

 

The company does not make its financial statements public.

 

Despite our long search, we were not able to confirm financial figures for the subject.

 

LEGAL FILINGS

 

 

 

CASES

No records found.

 

 

OFAC

Sanctions List Search

The company is not listed in the OFAC list.

 

 

 

 

SUMMARY

 

 

Founded in 2017, MRA International Limited is an organization in the Wholesale Trade Industry headquartered in Jamaica. The company operates nationally and internationally, mainly exporting to Canada. It is ACTIVE in business with no negative records.

 

The company shows low commercial profile, not being listed with yellow pages or major credit bureaus.

 

Considering company’s low commercial profile and short experience in business; we suggest working with guarantees and monitoring the subject for the following 12 months.

 

 

RISK INFORMATION

 

 

 

DEBTS

Controlled

PAYMENTS

Unknown

CASH FLOW

Normal

SUGGESTED CREDIT LINE

GUARANTEES

STATUS

Active

 

 

INTERVIEW

 

NAME

-

POSITION

-

COMMENTS

Due to the company´s low commercial profile, we were not able to find a telephone number for it.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.95

UK Pound

1

INR 91.87

Euro

1

INR 80.27

JMD

1

INR 0.54

 

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)

 

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.