MIRA
INFORM REPORT
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Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
RICHFIELD TANG KNITS LTD |
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Registered Office : |
5th Mile Royal Road, Beau Bassin |
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Country : |
Mauritius |
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Date of Incorporation : |
10.06.1983 |
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Com. Reg. No.: |
3989 Beau Bassin, Mauritius |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacture and Distribution of Fabric and Garment Textiles |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
RICHHELD
TANK KNITS LTD
Registered Name
RICHFIELD TANG KNITS LTD
Principal Address
5th Mile Royal Road, Beau Bassin, Mauritius
Telephone: +230-4672810
Fax: +230-4547593
Email: amber.w@rtknits.com
Internet: www.rtknits.com
Established
10/06/1983
Registration
No. 3989 Beau
Bassin, Mauritius
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
150
Office & Factories
Head offices 5th Mile Royal Road, Beau Bassin, Mauritius
Branches The Granary Court Lodge Farm The Green West
Peckham, Kent ME18 5JN, United Kingdom
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Rohit
Sultanti CEO
Mr. Geraldine
Sultani Director
Mr. T Kendall Director
Mr. Jean L. Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 200,000 is recommendable
Affiliated Companies
None Stated
Management/ Directors
President/ CEO (1)
Name Mr. Rohit Sultanti
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Geraldine Sultani
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
Manufacture and
distribution of fabric and garment textiles
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Department stores, stores
and outlets
Recent Sales
MUR. 268,000,000
(2007)
Exports
Neighboring
countries, Switzerland, Germany, Italy
Export Ratio
80.0%
Import Ratio
60.0%
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 200,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.95 |
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UK Pound |
1 |
Rs.85.62 |
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Euro |
1 |
Rs.67.81 |
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%)