IDENTIFICATION DETAILS

Name :	A.R. DESAI & CO

Registered Office :	P.O Box 97 16 Leoville L’homme Street Port Louis

Date of Incorporation :	1938

Legal Form :	Private Partnership

Line of Business :	Textile merchants, importers and dealers specializing in the following textile materials (i) Bed sheetings and white fabrics (ii) Flanel and grey shirtings (iii) Terry towels

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Status :	Small Concern

Payment Behaviour :	Regular

Litigation :	Clear

NAME OF COMPANY

A.R. DESAI & CO

ADDRESS

P.O BOX 97

16 LEOVILLE L’HOMME STREET

PORT LOUIS

TEL :(230) 241-1612

EST

1938

STATUS

PRIVATE PARTNERSHIP

DIRECTORS

MR. GHIRISH CHANDRA HARRAI DESAI

ACTIVITIES

Textile merchants, importers and dealers specializing in the following textile materials

(iv) Bed sheetings and white fabrics

(v) Flanel and grey shirtings

(vi) Terry towels

OBSERVATION

The above-named manager took over from has relative the business in 1981 and is the fourth generation of the Desai family in the textile business. This family is quite well-known on the textile market in Mauritius as they have successfully built up a well deserved reputation in that field of activities.

SOURCE OF SUPPLY

Currently importing from sources in Pakistan, India and China which account for nearly 90% of co’s total purchases.

FINANCE

YEAR 2004-05

SALES: RS7.3 Million

FIXED ASSETS: RS2.8 Million

STOCK IN TRADE: RS3.8 Million

VALUE OF IMMOVABLE PROPERTIES: RS10 Million

REMARK

Interviewed as to the eventual source, presently enquiring about A.R Desai & Co, the company’s Director stated that they are constantly in search of interesting offers for importing goods and materials, mostly textile from either Pakistan or India.

CREDITWORTHINESS

We would recommend buyer for normal business engagement within their financial capabilities.

BANKER

THE MAURITIUS COMMERCIAL BANK LTD PORT LOUIS.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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