MIRA
INFORM REPORT
|
Report Date : |
24th February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
K N R TRADING LTD |
|
|
|
|
Registered Office : |
1 Frere Felix De Valois Street, Port Louis |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Date of Incorporation : |
26.02.2004 |
|
|
|
|
Com. Reg. No.: |
49649 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Ø Dealers in electric and electronic accessories Ø Established
as general importers, merchants, engaged in the retail trade |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
NAME OF COMPANY
K N R TRADING LTD
ADDRESS
1 FRERE FELIX DE VALOIS STREET, PORT LOUIS
TEL
(230) 211-1575
INCORPORATED
26.02.2004
STATUS
Private
CO. NO.
49649
DIRECTORS
Mr. Kaleel Nawaz RAMJAN
Mrs. Razia Bibi RAMJAN
SHAREHOLDERS SHARES
Mr. Kaleel Nawaz RAMJAN 1,500
Mrs. Razia Bibi RAMJAN 500
ISSUED CAPITAL
RS 200,000
SIZE
The company’s registered office is located at No.1, Frere Felix de Valois Street, Port Louis.
ACTIVITIES
- Dealers in electric and electronic accessories
- Established as general importers, merchants, engaged in the retail trade
suppliers
Two main suppliers of subject company’s are known as:
(i) National Traders
(ii) Elemex
OBSERVATION
The concern is currently importing the following items for re-sale on the local market, namely metal boxes, plastic boxes, connectors, circuit breakers, contactors and other switches and sockets etc…
SOURCES OF SUPPLY
Mainly China, Singapore, India which account for over 60-70% of the company’s total purchase.
ASSOCIATED CONCERN
Rapid Auto Parts Ltd – Created some 18 months ago.
FINANCE
Year 2005-2006
Sales RS 5.8 million
Stock RS 2.6 million
Fixed Assets RS 1.3 million
Concern’s net worth RS 10 million
CREDITWORTHINESS
Buyer reliable and trustworthy for normal business engagement.
BANKERS
The Mauritius Commercial Bank Ltd
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)
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