MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
CONTEMPORAY ARTS |
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Registered Office : |
Level 11, No 1 Cathedral
Square Port Louis |
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Country : |
Mauritius |
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Legal Form : |
International Business Company (IBC) |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
CONTEMPORAY ARTS
Principal Address
Level 11, No 1 Cathedral Square Port Louis, Mauritius
Telephone: +230-2104000
Fax: +230-2117549
Email: info@mitco.mu
Internet: None
Registration
Mauritius
Legal Form
International
Business Company( IBC)
Stock Listing
Not Listed
Workforce
2006
2
Office & Factories
Head offices Level 11, No 1 Cathedral Square Port Louis, Mauritius
Branches None
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. K. C. Li Kwong
Wing Trustee
Other Directors Director
Total 100.00%
Credit Opinion
We Recommend secured Credit
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. K. C. Li Kwong Wing |
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Remarks |
Top Decision Maker |
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
Not Stated
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 cannot
be Determined
COMMENTS
The Trustee Company has been contacted to
provide information but has declined, the Company file could not be located at the
Registry of companies. According to the information received, the company is a
registered business company under the IBC which is under no obligation to state
its directors, officers and shareholders, also its under no obligation to file
annual returns, prepare or submit company accounts to any authority.
we recommend secured Credit 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%)