MIRA INFORM
REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
THE TAPPOO GROUP OF COMPANIES |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.09.1941 |
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Com. Reg. No.: |
8037 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Retails, wholesales and supports an extensive range of
high-quality products |
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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 470,000.00 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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c1 |
c1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name
The Tappoo Group of Companies
Company acronym
-
Contact Information
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Address |
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Postal Address |
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Telephone |
+ 679 6500199 |
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Fax |
+ 679 6500515 |
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Email |
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Website |
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Other
Information |
Founder was Mr. Tappoo Kanji |
Registration Data
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Date of
Registration |
10/09/1941 |
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Registration
number |
8037 |
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Legal address |
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Legal Form |
Joint Stock Company |
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Authorized
Capital |
3,200,000.00 FJD |
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Other
Registration Data |
Former Legal Form: Limited Liability Company Date of Change: 2006 |
Shareholders with Shares
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Shareholder Names |
Share% |
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Tappoo Family |
100% |
Board/Executive
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Name |
Mr Kanti Tappoo |
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Position within the company |
Executive Chairman |
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Country of Birth |
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Nationality |
Fijian |
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Can fluently speak |
English |
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Name |
Mr. Harnish Tappoo |
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Position within the company |
Heads of Retails Buying Division of the group |
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Country of Birth |
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Nationality |
Fijian |
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Can fluently speak |
English |
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Name |
Mr. Mesake Kuinikoro |
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Position within the company |
Director |
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Country of Birth |
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Nationality |
Fijian |
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Can fluently speak |
English |
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Name |
Mr. Michelle Singh |
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Position within the company |
Director |
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Country of Birth |
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Nationality |
Fijian |
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Can fluently speak |
English |
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E-mail |
michelles@tappoo.com.fj |
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Name |
Mr. Epeli Blake |
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Position within the company |
Director |
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Country of Birth |
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Nationality |
Fijian |
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Can fluently speak |
English |
Changes in Registration Data
None recorded
Activities
(Realistic and officials)
Retails, wholesales and supports an extensive range of high-quality
products.
Staff
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Number of staff
employed |
850 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Africa, |
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Importing Terms |
Letters of Credit |
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Import % and type of product |
70%- Finished Goods |
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Exports To |
Worldwide |
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Exporting Terms |
Letters of Credit |
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Export % and type of product |
40%- Finished Goods |
Facilities
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Owned |
Offices, Warehouses |
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Premises Size |
- |
Subsidiaries and Participation
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Parent Company |
- |
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Subsidiaries |
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Affiliates |
- |
Stores
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Address |
Tappoo Administration & Distribution
Centre, Khan Jan Drive, Sigatoka Sigatoka Downtown Store The Fijian Resort Shops Nadi Nadi Downtown Store The Sheraton
Nausori
Home &
Leisure Stores
Airport Duty
Free
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Bankers
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Bank |
Fiji Bank |
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Branch |
- |
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Address |
- |
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Telephone |
- |
Suppliers, Partners
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Suppliers |
- |
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Partners |
- |
Litigation, Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial Information
It declined it.
Representation
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Auditors |
- |
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Solicitors |
Mr. Naidu |
Reporter Comments
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Comments |
In the interview conducted with Mr. Mesake
Kuinikoro (Director), he declined
bank and financial information account number citing the grounds of company
confidentiality. Note: The registered name of company is The Tappoo Group of Companies. Note: The address which you provided is
the branch address of company. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. |
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Owner/Shareholders Comments |
All of
the owners / shareholders have an active participation in
the running of the business. |
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Age of Business |
Old Business |
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MAX CREDIT |
USD 470,000.00 Very Good Credit Worthiness |
NEWS
Tappoo Group wins recognition for excellence in Fijian tourism as Kanti
Tappoo earns Lifetime Achievement award – 12/02/09
Source: ©The Moodie Report
Group Chairman Kanti Tappoo (a great contributor to the Fijian
and Asia Pacific travel retail industry –Ed) was presented with a Lifetime
Achievement Award by Prime Minister Frank Bainimarama.
The Tappoo Group also received an Excellence in Shopping award.
Executive Director Kaushal Tappoo told The Moodie Report: “We are very
proud, and delighted to have won these awards."
As reported, the group is overhauling its
Departures duty free store at
Construction is underway to extend the back of the Departures store onto a
section of apron, adding 560sq m of retail space. Fragrances and cosmetics will
occupy the first area that passengers encounter after customs processing.
Liquor and tobacco will occupy the next section: at 31% and 15% of sales
respectively, these categories remain core for the predominantly
Once the new store is inaugurated in the first quarter of 2009, renovation will
carry on upstairs in the Departure Lounge area. The group is also
planning a full-scale redevelopment of its Fiji Market, sports and general
merchandise outlets.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.