MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNION CHEMICALS COMPANY LTD |
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Registered Office : |
44 St Georges Street Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
17.02.1997 |
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Com. Reg. No.: |
No. C33644 Port
Louis, Mauritius |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacture and Distribution of Rubber Products
and Organic/Inorganic Chemicals, Oil Recycling Products 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 |
NAME
UNION CHEMICALS COMPANY LTD
Principal Address
44 St Georges Street Port Louis, Mauritius
Telephone: +230-2103386/1867
Fax: +230-2105922
Email: union_chemicals@hotmail.com
Internet: none
Established
17/02/1997
Registration
No. C33644 Port
Louis, Mauritius
Legal Form
Limited Liability Company,
Limited by shares
Stock Listing
Not Listed
Workforce
2007
100
Office & Factories
Head offices 44 St Georges Street Port Louis, Mauritius
Branches none
Company Profile
Paid in Capital MUR. 10,000
Subscribed Capital MUR. 10,000
Shareholders
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Name |
Position |
Amount
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Ratio |
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Mr. Mark Knell |
CEO |
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Mr. M. Johnson |
Director |
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Total |
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100.00% |
Credit Opinion
Our proposed
credit amount of USD 50,000 is recommendable
Affiliated Companies
none
Management/ Directors
President/ CEO (1)
Name Mr. Mark Knell
Remarks Top decision maker
President/ CEO (2)
Name Mr. M. Johnson
* 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 rubber products and organic/inorganic chemicals, oil recycling
products etc
Terms of payment
Buying terms 50%
in cash, 50% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
None
Customers
Cosmetic Industries
Recent Sales
MUR. 68,000,000
(2007)
Exports
African countries
Export Ratio
20.0%
Import Ratio
20.0%
Domestic Market Share
30.0%
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 50,000 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.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)