MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
S & B METAL SCRAP TRADING LTD |
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Registered Office : |
56, Palma Road, Quatre Bornes |
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Country : |
Mauritius |
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Date of Incorporation : |
20.05.2002 |
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Com. Reg. No.: |
41437 |
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Legal Form : |
Private |
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Line of Business : |
Dealer in ferrous and non-ferrous scrap metals. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NAME OF COMPANY
S & B METAL SCRAP TRADING LTD
ADDRESS
56, PALMA ROAD
QUATRE BORNES
INCORPORATED
20.05.2002
STATUS
Private
CO NO
41437
DIRECTORS &
SHAREHOLDERS SHARES
Mr. Santaram BABOO 1
ISSUED CAPITAL
RS 500,000
SIZE
The company’s registered office is located at 56, Palma Road – Quatre
Bornes.
ACTIVITIES
Dealer in ferrous and non-ferrous scrap metals.
EMPLOY
Less than 10
OBSERVATION
The company deals in scrap metals which it buys locally and prepares
mainly for export. On the local front, the business of scrap metal has become a
profitable one with the conversion to iron bars by local manufacturers.
REGISTERED
INFORMATION
In May 2004, the Registrar of Companies has written to the company for
non-filling of its annual returns and following which, judicial action was
being contemplated.
“Above company may be liable to pay contributions to the National
Pensions Fund, therefore, the Ministry of Social Security objects to its
dissolution”.
FINANCE
No accounts have been yet been filed for 2004, 2005 & 2006 with the
R O C
Year
2003
Turnover RS 1.1 million
Loss RS 0.4 million
CREDITWORTHINESS
As a matter of fact, we cannot advise as to subject’s current financial
situation.
BANKERS
The Mauritius Post & Cooperative Bank 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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)