MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CUTRITE PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.09.1998 |
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Com. Reg. No.: |
1513 |
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Legal Form : |
Limited Liability company, Limited by shares |
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Line of Business : |
Retailers of sugar cane harvesters blade and other tools |
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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
CUTRITE PTY LTD
Principal Address
Telephone : +248-373982
Fax : +248-373982
Internet : None
Established
10/9/1998
Registration
1513
Legal Form
Limited Liability company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
20
Office &
Factories
Head offices Victoria,
Mahe, Province
Branches None
Company Profile
Paid in Capital SCR. 1,000
Subscribed Capital SCR. 1,000
Shareholders
Name Position Amount Ratio
Mr. J Mark Director 50.00%
Mr. P Ajay Director 50.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 80,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. P Ajay
Work Experience 10 years in this line of business
Remarks Top Decision Maker
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
Retailers of sugar cane harvesters blade and other tools
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers None
Customers Local Companies
Recent Sales SCR. 3,000,000 (2006)
Exports None
Export Ratio 40.0%
Import Ratio 60.0%
Domestic Market Share 50.0%
Banking relationship
Main Banks NOUVOBO Bank, Mahe
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 80,000 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/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%)