MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAUVILAC
INDUSTRIES LTD |
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Registered Office : |
Pailes Road, Pailles |
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Country : |
Mauritius |
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Date of Incorporation : |
1964 |
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Com. Reg. No.: |
C9978 Mauritius |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacturers and Distributors of decorative, marine & industrial
paints, adhesive glues, varnishes, putty, auxiliaries & dyes for |
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 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
MAUVILAC
INDUSTRIES LTD
Principal Address
Pailes Road, Pailles, Mauritius
Telephone: +230-2064700
Fax: +230-2124308
Email: Mauvilac@mauvilacgroup.com
Internet: www.mauvilacgroup.com
summary
Established: 1964
Registered 19/12/1991
Registration: No. C9978 Mauritius
Legal Form: limited Liability
company, Limited by shares
Stock Listing: Not Listed
Workforce
2007
200
Office & Factories
Head offices Pailles Road, Les Pailles, Mauritius
Branches None
Company Profile
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Shaheel
Luckoo CEO
Mr. Ahmey
Luckoo Director
Mauvilac Holding
Ltd Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed
credit amount of USD 120,000 is recommendable
Affiliated Companies
Company (1) ALCODIS LTD
Company (2) MAUVILAC
& COMPANY LIMITED
Company (3) MAUVILAC
CHEMICALS LIMITED
Company (4) MAUVILAC CONTRACTING LIMITED
Company (5) MAUVILAC
DYES AND CHEMICALS LIMITED
Company (6) MAUVILAC
MARKETING LTD
Company (7) MWT Paper Processing Ltd
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Shaheel Luckoo |
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Remarks |
Top Decision Maker |
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 and
Distributors of decorative, marine & industrial paints, adhesive glues,
varnishes, putty, auxiliaries & dyes for
Terms of payment
Buying terms 10% in cash, 90% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Sun Chemicals, Dulux, etc
Customers
Monaco, & other
textile & leather industries
Recent Sales
MUR. 420,000,000
(2007)
Exports
Neighboring
Countries
Export Ratio
20.0%
Import Ratio
60.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks Mauritius
Commercial 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 120,000 outstanding at any one time. The group has been established since 1964,
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)