MIRA
INFORM REPORT
|
Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
TRACTOR & EQUIPMENT ( |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2006 |
|
|
|
|
Date of Incorporation : |
29.12.83 |
|
|
|
|
Com. Reg. No.: |
4168 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
Line of Business : |
Dealer &
supplier of heavy duty equipment and machineries. |
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
TRACTOR & EQUIPMENT (
ADDRESS
TEL : (230) 212-4232
FAX : (230) 212-4233
EMAIL : tracteqmt@intnet.mu
INCORPORATED
29.12.83
STATUS
Private
CO NO
4168
DIRECTORS
Mr. Timothy TAYLOR
Mr. Howard BUTTERY
Mr. Michael ROGERS
Mr. Donald BRITTER
Mr. Colin Geoffrey TAYLOR
SHAREHOLDERS SHARES
Rogers & Company Limited 99,850
Fincorp Investment Ltd 300
Triumph International Trading Ltd 99,850
ISSUED CAPITAL
RS 2,000,000
ACTIVITIES
Dealer &
supplier of heavy duty equipment and machineries.
LOCATION
Company operates at
IMPORTS
Main sources are
EMPLOYMENT
50 – 75
FINANCE (2006)
Revenue: MUR
88.7m
Profit: MUR
5.3m
OBSERVATION
Tractor &
Equipment (
During the period
ending 30th September 2006, the company’s revenue increased from MUR
65.8m to MUR 88.7m and a profit before tax of
SOME PRODUCTS &
SERVICES
-
Tractors
-
Golf
& Turf Equipment
-
Maintenance
& Servicing
CREDITWORTHINESS
Buyer is considered good
and trustworthy for normal business transactions.
BANKERS
The Mauritius
Commercial Bank Ltd
State Bank of
Mauritius Ltd
|
TRACTOR & EQUIPMENT (MTIUS) LTD |
|
|
INCOME STATEMENT FOR THE YEAR ENDED SEPTEMBER 30, 2006 |
|
|
|
RS'000 |
|
Total Revenue |
88,767 |
|
|
============== |
|
Sales of goods and services |
77,461 |
|
Cost of sales |
(57,580) |
|
|
---------------------------- |
|
Gross Profit |
19,881 |
|
Commission and other income |
11,542 |
|
|
---------------------------- |
|
|
31,423 |
|
|
---------------------------- |
|
Selling and Administrative expenses: |
|
|
Staff costs |
9,806 |
|
Depreciation |
1,424 |
|
Amortisation |
96 |
|
Other expenses |
11,314 |
|
|
---------------------------- |
|
|
22,640 |
|
|
--------------------------- |
|
|
8,783 |
|
Finance Cost |
(1,707) |
|
|
---------------------------- |
|
Profit before taxation |
7,076 |
|
Income tax (expenses)/ credit |
(1,751) |
|
|
---------------------------- |
|
Profit for the year |
5,325 |
|
|
============== |
|
|
|
|
BALANCE SHEET - SEPTEMBER 30, 2006 |
|
|
|
RS'000 |
|
ASSETS EMPLOYED |
|
|
LONG TERM ASSETS |
|
|
Plant and equipment |
4,758 |
|
Intangible assets |
359 |
|
Retirement benefit assets |
325 |
|
Deferred tax assets |
- |
|
|
---------------------------- |
|
|
5,442 |
|
|
--------------------------- |
|
CURRENT ASSETS |
|
|
Inventories |
13,560 |
|
Trade and other receivables |
42,106 |
|
Cash and cash equivalents |
7,504 |
|
|
---------------------------- |
|
|
63,170 |
|
|
---------------------------- |
|
Total Assets |
68,612 |
|
|
============== |
|
EQUITY AND LI |
|
|
Capital & Reserves |
|
|
Share Capital |
2,000 |
|
Retained earnings |
8,413 |
|
|
---------------------------- |
|
|
10,413 |
|
|
---------------------------- |
|
LI |
|
|
NON CURRENT LI |
|
|
Borrowings |
15,593 |
|
Deferred tax liabilities |
344 |
|
|
--------------------------- |
|
|
15,937 |
|
|
---------------------------- |
|
CURRENT LI |
|
|
Trade and other payables |
8,517 |
|
Current tax liabilities |
452 |
|
Borrowings |
33,293 |
|
|
---------------------------- |
|
|
42,262 |
|
|
---------------------------- |
|
Total equity and liabilities |
68,612 |
|
|
============== |
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%)