MIRA INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
I RAMSURRUN & CO LTD |
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Registered Office : |
11 Cordrie Street Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
09.08.2002 |
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Com. Reg. No.: |
No. 42662
Mauritius |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Retailers of
Food Stuffs, Grains, Spices, General Merchandises & Edible Oils 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 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
I RAMSURRUN & CO LTD
Principal Address
11 Cordrie Street Port Louis, Mauritius
Telephone: +230-2130619
Fax: +230-2488038
Email: None
Internet
None
Established
09/08/2002
Registration
No. 42662
Mauritius
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
40
Office & Factories
Head offices 11 Cordfrie Street Port Louis, Mauritius
Branches none
Company Profile
Paid in Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Shareholders
Name Position Amount
Ratio
Mr. Ibrahim
Ramsurran CEO 100.00%
Mr. Nazim
Ramsurran Director
Total 100.00%
Credit Opinion
Our proposed
credit amount of USD 50,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr.
Ibrahim Ramsurran
Work
Experience 6 years in this line
of business
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
Retailers of food
stuffs, grains, spices, general merchandises & edible oils etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
None Stated
Customers
Local agencies , stores and
outlets
Recent Sales
MUR. 20,000,000
(2007)
Exports
Neighboring islands
Export Ratio
20.0%
Import Ratio
70.0%
Domestic Market Share
5.0%
Banking relationship
Main Banks
Mauritius
Commercial 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 50,000 outstanding at any one time.
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Exchange Rate |
US$ 1 = MUR. 27.6 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)