MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CASINO DE MAURICE |
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Registered Office : |
Teste de Buch Street Curepipe, Plaines
Wilhems |
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Country : |
Mauritius |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
C2336 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Casino and
Entertainment |
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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Maximum Credit Limit : |
USD 60,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
CASINO DE MAURICE
Principal Address
Teste de Buch Street Curepipe, Plaines Wilhems Mauritius
Telephone: +230-6021300
Fax: +230-6761775
Email: sicmsops@intnet.mu
Internet: www.casinosofmauritius.com
Established
1989
Registration
No. C2336
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
400
Office & Factories
Head offices Teste de Buch Street Curepipe, Plaines Wilhems Mauritius
Branches None
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Muhammad Iqbal
Hasham CEO
Mr. Ishwurlal
Golam Director
Mr. Ramsurrun
Soudesh Director
State Investment
Corporation Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 60,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Muhammad Iqbal Hasham |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Ishwurlal Golam |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Casino and
Entertainment
Terms of payment
Buying terms 80% in cash, 20% on credit
Selling terms Cash
Suppliers
Various
Customers
Local agencies, stores and
outlets
Recent Sales
MUR. 280,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 20.0%
Domestic Market Share 50.0%
Banking relationship
Main Banks MCB Bank
State Bank
Credit Check of Subject,
President & CEO
(as of report date)
Payment Morale : In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING : Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 60,000 outstanding at any one time.
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. |
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%)