MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CATHAY
PRINTING LTD |
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Registered Office : |
La Tour Koneig Indusatrial Zone, Pointe Aux
Sables |
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Country : |
Mauritius |
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Date of Incorporation : |
01.08.1978 |
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Com. Reg. No.: |
3031 Mauritius |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacturer and exporter of commercial printing of books, magazines, brochures
, annual reports, cash register notes, fax paper and printing paper |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
CATHAY PRINTING
LTD
Principal Address
La Tour Koneig Indusatrial Zone, Pointe Aux Sables Mauritius
Telephone: +230-2342801/2668
Fax: +230-2342828
Email: paulchong@intnet.mu
Internet
None
Established
01/08/1978
Registration
No. 3031 Mauritius
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
200
Office & Factories
Head offices La Tour Koenig Industrial Zone, Plaine
Lauzun, Pointe aux Sables
Branches None
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Jimmy Chung
For Huen CEO
Mr. Dany Chung For
Huen Director
Mr. Paul Chong How
Sian Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company
(1) T PRINTERS CO LTD
Company (2) CATHAY PRINTING
INTERNATIONAL LTD
Management/ Directors
President/ CEO (1)
Name Mr. Jimmy Chung For Huen
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Dany Chung For Huen
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
Manufacturer and
exporter of commercial printing of books, magazines, brochures , annual
reports, cash register notes, fax paper and printing paper
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Local agencies ,stores and
outlets
Recent Sales
MUR. 120,000,000
(2007)
Exports
Neighbouring
countries
Export Ratio
30.0%
Import Ratio
20.0%
Domestic Market Share
40.0%
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 100,000 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.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)