MIRA
INFORM REPORT
|
Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
LE CASINO DE MAURICE |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
12/9/1996 |
|
|
|
|
Com. Reg. No.: |
No. 61574 Curepipe, |
|
|
|
|
Legal Form : |
Limited Liability company, Limited by shares |
|
|
|
|
Line of Business : |
Casino activities Machines, roulette etc |
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 |
|
Maximum Credit Limit : |
USD 75,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
LE
CASINO DE MAURICE
Address
Telephone: +230-6742490/89
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 75,000 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
President/ CEO (1)
Name Mr. Iqbal Mallam-Hasham
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Ishwurlal Golam
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 75,000 outstanding at any one time.
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. |
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%)