MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAURITIUS
STATIONERY MANUFACTURERS LTD |
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Registered Office : |
P.O Box 610 Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
28.02.1966 |
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Com. Reg. No.: |
1514 Port Louis, Mauritius |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Manufacture and Printing of Packaging Materials |
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 140,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
MAURITIUS
STATIONERY MANUFACTURERS LTD
Principal Address
P.o Box 610 Port Louis, Mauritius
Telephone: +230-2020800
Fax: +230-2120910
Email: info@msm-ltd.com
Internet: www.msm-ltd.com
Established
28/02/1966
Registration
No. 1514 Port
Louis, , Mauritius
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
300
Office & Factories
Head offices Old Moka road Bell Village Port Louis,
Mauritius
Branches Petit Verger Road, Petite Rivière Mauritius
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. J.Cyril
Lagesse CEO
Mr. Didier V.
Descroizilles Director
Mr. Arnaud Lagesse
Director
Mr. Cyril Leclezio
Director
Mr. Shing Leung Director
Mr. Thierry
Lagesse Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 140,000 is recommendable
Affiliated Companies
Company (1)
Company Name Multipack SARL
Head Office PK 15 RN 4 Soamananety,Ambohidratrimo Nord, Antananarivo 101 Madagascar
Telephone +261-302380700
Fax +261-302380700
E-mail multipack@wanadoo.mg
Line of Business Manufacture of packaging materials
Company (2)
Company Name MADAGASCAR
STATIONARY MANUFACTURERS
Head Office Bp 8117, Route Digue Domaine d'Andranoabo, Antananarivo 101 Madagascar
Telephone +261-202230416/67664
Fax +261-202231902
E-mail msm@msm-madagascar.com
Line of Business Manufacture and distribution of
packaging products
Management/ Directors
President/ CEO (1)
Name Mr. J.Cyril Lagesse
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Didier V. Descroizilles
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
printing of packaging materials
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various companies
Customers
Public companies,
distributors etc
Recent Sales
MUR. 214,000,000
(2007)
Exports
Neighboring
countries
Export Ratio
20.0%
Import Ratio
10.0%
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 140,000 outstanding at any one time.
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%)