MIRA INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
LI SHING TIT |
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Registered Office : |
121, Frere Felix De Valois Street, Port Lois |
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Country : |
Mauritius |
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Date of Incorporation : |
20.08.1993 |
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Com. Reg. No.: |
No. 11699 Port
Louis, Mauritius |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Freeport Activities, ie Supplying of Duty
Free Items to Ships Calling at Port Louis.
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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
LI SHING TIT
Other Name
FOH CHEONG COMPANY LTD
Principal Address
121, Frere Felix De Valois Street, Port Lois, Mauritius
Telephone: +230-2420960
Fax: +230-2121532
Email: danlst
@intent.mu
Internet: None
Established
20/8/1993
Registration
No. 11699 Port
Louis, Mauritius
Company ID
8630
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
30
Office & Factories
Head offices Royal
Street 53 Port Louis, Mauritius
Branches 53, Royal Street, Port Louis, Mauritius,
& 57, Mcb Road Mon Choisy, Mauritius
Company Profile
Paid in Capital MUR. 250,000
Subscribed Capital MUR. 250,000
Shareholders
Name Position Amount
Ratio
Mr. Li Shing Tit Chuan Ok CEO 50.00%
Mr. Li Shing Tit Director 50.00%
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. Li Shing Tit Chuan Ok
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Li Shing Tit
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
Freeport
activities, ie supplying of duty free items to ships calling at Port
Louis.
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Organizations, manufacturers and the public in general
Customers
Ships, etc
Recent Sales
MUR. 18,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
10.0%
Banking relationship
Main Banks Mauritius
Commercial Bank
HSBC 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.
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%)