MIRA INFORM REPORT
|
Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
STEEL SCRAP LTD |
|
|
|
|
Registered Office : |
Industrial
Zone Lauzun |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Date of Incorporation : |
23.12.1964 |
|
|
|
|
Com. Reg. No.: |
C1438 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Scrap Metal Merchants |
|
|
|
|
No. of Employees
: |
30 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 60,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Mauritius |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT'S NAME
Registered Name: STEEL SCRAP LTD
Requested Name: STEEL
SCRAP LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Industrial
Zone Lauzun
Postal Address: P.o Box 722
Port Louis
Country: Mauritius
Phone: 230-2120356
Fax: 230-2082825
Email: techtrade@intnet.mu
Website: none
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a medium
risk of credit. We recommend Credit of USD 60,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 23/12/1964
Reg. Number: C1438
Nominal Capital MUR 100,000
Subscribed Capital MUR 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Norbert Ross CEO
Mr. Ahmad Taujoo Finance Director
Mr. Marc Ticher GM
Mr. Iqbal Rustom Manager
RELATED COMPANIES
None Parent company.
None Subsidiary company.
ECLAIR BATTERIES LTD
TECH TRADE LTD Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as scrap metal merchants
Imports: None
Exports: China, India and
South Africa
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Mauritius
Location: Rented premises,
1000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Mauritius Rupee (MUR)
Approx. Ex. Rate: 1 US Dollar = 32 Mauritius Rupees
Fiscal Year End: December
31, 2010
Inflation: According
to information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial
Information Not Submitted
Profit and Loss (expressed in MUR)
2010
Sales 85,000,000
BANK
Bank Name: Mauritius Commercial Bank
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
In Mauritius firms that export
scrap metal have had difficulty to adapt to the severe regulations thus leading
them to lay off workers
This information was obtained from outside sources other than the
subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.72 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.