MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
LE CAUDAN WATERFRONT
CASINO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12/9/1996 |
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Com. Reg. No.: |
61574 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Casino
activities Machines, roulette etc. |
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 35,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
LE CAUDAN WATERFRONT CASINO LTD
Principal Address
Telephone: +230-6742490
Fax: +230-6761775
Email: sicmsops@intnet.mu
Internet: None
Established
12/9/1996
Registration
No. 61574 Curepipe,
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
200
Office &
Factories
Head offices
Branches None
Company Profile
Paid in Capital
Subscribed Capital
Shareholders
Name Position Amount
Ratio
Mr. Iqbal
Mallam-Hasham CEO
Mr. Ishwurlal
Golam Director
Mrs Banoomatee
Veerasamy Director
State Investment
Corporation Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 35,000 is recommendable
Affiliated
Companies
Company (1) BEACH CASINOS LTD
Company (2) CASINO DE MAURICE
LTEE
Company (3) DOMAINE LES
PAILLES LTD
Company (4) GAME LINK
Company (5) LAKEPOINT LTD
Company (6) LE GRAND CASINO DU
DOMAIN LTEE
Company (7) LE VAL DEVELOPMENT
CO LTD
Management/
Directors
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President/
CEO (1) |
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Name |
Mr. Iqbal Mallam-Hasham |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Ishwurlal Golam |
Þ 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
Casino activities
Machines, roulette etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 100% in cash
Suppliers
None
Customers
Companies and public
Recent Sales
Exports
None
Export Ratio 0.0%
Import Ratio 20.0%
Domestic Market Share 20.0%
Banking
relationship
Main Banks MCB Bank
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 35,000 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. |
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%)