MIRA INFORM REPORT
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Report Date : |
29.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRAYS INC LTD |
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Registered Office : |
P O Box 317, Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
1977 |
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Com. Reg. No.: |
61754 Port Louis, Mauritius |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturers
& Distributors of rums, liquors, wines & spirits. |
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 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
GRAYS INC LTD
Principal Address
P O Box 317, Port Louis, Mauritius
Telephone: +230-2093000
Fax: +230-2433664
Email: grays@grays.mu
Internet: www.grays.mu
Established
1977
Registration
No. 61754 Port Louis, Mauritius
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
100
Office & Factories
Head offices Beau Plan, Pamplemousses, Mauritius
Branches None
Company Profile
Paid in Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Shareholders
Name Position Amount
Ratio
Mr. Alain Vallet CEO 60.00%
Mr. Michael Derunes Director 20.00%
Mr. M Vallet Director 20.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 300,000 is recommendable
Affiliated Companies
Company (1) GRAYS
& CO LTD
Company (2) GRAYS
REFINERY LTD
Company (3) GRAYS
EXPORT LTD
Management/ Directors
President/ CEO (1)
Name Mr. Alain Vallet
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Michael Derunes
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
Manufacturers
& Distributors of rums, liquors, wines & spirits
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 80%
in cash, 20% on credit
Suppliers
None
Customers
Hotels,
Stores and outlets
Recent Sales
MUR.
300,000,000 (2007)
Exports
Neighboring
Countries
Export Ratio
30.0%
Import Ratio
90.0%
Domestic Market Share
50.0%
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 300,000 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%)