MIRA INFORM REPORT

 

Report Date :

24th February, 2007

 

IDENTIFICATION DETAILS

 

Name :

NUTSHELL LTD

 

 

Registered Office :

Union Ducray, Riviere Des Anguilles

 

 

Country :

Mauritius

 

 

Date of Incorporation :

14.11.1984

 

 

Com. Reg. No.:

4584

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Dealers in general hardware items and small hand tools and accessories. &  Manufacturers, engaged in the production of the following items:

Balls & nuts, screws, hose-clips and other fixings.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

 

 

NAME OF COMPANY

 

NUTSHELL LTD

 

 

ADDRESS

 

UNION DUCRAY

RIVIERE DES ANGUILLES

 

 

OTHER ADDRESS

 

The subject also operates retail business premises located at:

9 Louis Pasteur Street,

Port Louis

 

 

TEL

 

(230) 240-6712

 

 

INCORPORATED

 

14.11.84

 

 

STATUS

 

Private

 

 

CO. NO.

 

4584

 

 

DIRECTORS & SHAREHOLDERS               SHARES

 

Mr. Cheong Choon Yuen Tung Shing                                                                                              1

Mr. Cheong Yan Yuen                                                                                                                239

Mrs. Catherine Cheong Yan Yuen                                                                                                  10

 

 

 

ISSUED CAPITAL

 

RS 25,000

 

 

SIZE

 

The company’s registered office is located at Union Ducray, Riviere des Anguilles. Subject has a retail outlet at 9, Louis Pasteur Street, Port Louis.

 

 

ACTIVITIES

 

Dealers in general hardware items and small hand tools and accessories. Manufacturers, engaged in the production of the following items:

Balls & nuts, screws, hose-clips and other fixings.

 

 

IMPORT

 

South Africa, India, China and Malaysia

 

 

OBSERVATION

 

The company specializes in the manufacture of a variety of small hardware accessories and fixing materials. Subject is operative since 1984. During the course of its existence some concrete realization have been achieved and tangible signs of progress noted.

 

 

FINANCE

 

Over the period 2004 / 2005, the company’s trading performance was not so satisfactory as losses were incurred. During 2006, we have had no official data made available to re-assure the smooth running of the concern but concern was expected to achieve better sales and improve profitability. Upon this assumption, we would recommend buyer’s transactions involving credit if any.

 

 

BANKERS

 

-          THE HONG-KONG AND SHANGHAI BANKING CORP

-          THE INDIAN OCEAN INTERNATIONAL 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