MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
SEALICIOUS LTD |
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Registered Office : |
Chemin Station Vieux Grand Port |
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Country : |
Mauritius |
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Date of Incorporation : |
22.11.2005 |
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Com. Reg. No.: |
59648 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer and distributor of seafood products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Name
SEALECIUOS LTD –
CORRECT STYLE: SEALICIOUS LTD
Address
CHEMIN STATION VIEUX GRAND PORT
Tel. : (230) 634-5437
Fax :(230) 634-4067
Email :smarrltd@intnet.mu
Incorporated
22.11.05
Status
Private
Co. No.
59648
Directors
Mr. Heeramun AUMARY
Mrs. Swastee AUMARY
Shareholders Shares
Mr. Heeramun AUMARY 150
Mrs. Swastee AUMARY 100
Issued Capital
RS 25,000
Activities
Importer and distributor of seafood products.
Imports
Company imports from South Africa, Madagascar and India which makes
around 80% of its total purchases.
Observation
Sealicious is a fairly new business which was incorporated as a limited
liability company end 2005 and started operating in 2006. Company is a known
distributor of seafood products on the Mauritian market. In a relatively short
time, subject has been able to establish good relationships with the local
hotels, restaurants and supermarkets. This is on account of the fact that
subject has prior to its incorporation in 2005 been engaged in the same trade
under the former style of “Ismar Limited”. As a matter of fact, this case may
be considered as a simple change of name and company status.
Product Range
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Frozen octopus
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Frozen Scallops
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Crabs
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Frozen sardines etc.
Brand
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Sealicious
Financials
From the financial indications obtained respecting the company’s trading
performance for 2005, the following figures have been mentioned:
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Sales Achieved: MUR
72m
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Estimated Stock in Trade: MUR
11m
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Value of Fixed Assets: MUR
7.5m
Credit Opinion
Buyer is trustworthy for normal business engagement.
Bankers
State Bank of Mauritius Ltd
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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