MIRA INFORM REPORT

 

 

Report Date :

04.06.2007

 

IDENTIFICATION DETAILS

 

Name :

AGRICULTURAL MARKETING BOARD (AMB)

 

 

Registered Office :

Dr. Leclezio Avenue, Moka

 

 

Country :

Mauritius

 

 

Date of Incorporation :

1964

 

 

Legal Form :

Para Satatal Body

 

 

Line of Business :

Distribution of potatoes, onion and garlic.

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

NAME OF COMPANY

 

AGRICULTURAL MARKETING BOARD (AMB)

                             

 

ADDRESS

 

DR. LECLEZIO AVENUE

MOKA

TEL      : (230) 433-4025

FAX      : (230) 433-4837

EMAIL  : agbd@intnet.mu

 

 

INCORPORATED

 

ACT OF 1964

 

 

STATUS

 

PARA SATATAL BODY

 

 

OBJECTIVE & MISSION

 

The Agricultural Marketing Board (AMB) is a parastatal organisation set up under the Mauritius Agricultural Marketing Act of 1964 and has the mission to promote the diversification of agriculture for the benefit of local producers & consumers.

 

The Board is headed by a chairman and the day-to-day running activities are headed by a General Manager.

 

 

ORGANISATION & ACTIVITIES

 

AMB holds monopoly and in certain cases monitors importation of agricultural products for which there are marketing schemes and guaranteed prices and frequently intervenes to stabilize prices.

 

The AMB has over the years been associated mainly with the distribution of potatoes, but also onion and garlic, in the country. It is vested with wide powers in matters relating to the “production, storage, import, export and sale” of a number of commodities declared as “controlled products” under the law. These include:

 

-         Seed Potatoes

-         Table Potatoes

-         Onion

-         Garlic

-         Turmeric

-         Beans

-         Cardamoms

-         Dry Chillies

-         Fresh Milk

 

AMB has in recent years moved into the business of selling peeled canned tomatoes and onion seeds. It also provides cold storage facilities for those in the import/export business of fish and seafood products, fruits and vegetables, flowers, meat and medicines. In support of small cow-keepers, AMB operates a Milk Marketing Scheme which consists in collecting fresh milk and pasteurizing them to be distributed in appropriate packages in different parts of the country.

 

 

COMMENTS

 

Trade liberalization under the WTO would certainly affect the activities of the AMB and therefore it is presently encouraging planters to go for clustering in order to benefit from facilities put up by the Authorities. Further the AMB is looking to go regional and promote Mauritius as an agr0-processing centre.

 

 

FINANCES

 

On account of its status, the concern’s financials are not readily made available.  As part of its operating budget, the AMB : receives subsidies from the Government. We would recommend buyer for the applicable credit as per your enquiry.

 

 

CREDIT OPINION

 

Buyer is considered good for US$ 1,00,00,000 D/A

 

 

BANKERS

 

The State Bank of Mauritius ltd Port Louis

 

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