MIRA INFORM
REPORT
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Report Date : |
25.07.2011 |
IDENTIFICATION DETAILS
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Name : |
FIRSTLAND HOLDINGS LIMITED |
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Registered Office : |
Les Cascades Edita
Cavell Street Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
28.12.2007 |
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Com. Reg. No.: |
C076560 |
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Legal Form : |
Global Business Category
1 |
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Line of Business : |
Consultancy Firm |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Mauritius |
a2 |
a2 |
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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 |
Bottom of Form
SUBJECT'S NAME
Registered Name: FIRSTLAND HOLDINGS LIMITED
Requested Name: FIRSTLAND
HOLDINGS LIMITED
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Les
Cascades Edita Cavell Street Port Louis
Postal Address: Les
Cascades Edita Cavell Street
Port Louis
Country: Mauritius
Phone: 230-2129800
Fax: 230-2129833
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a medium
risk of credit. We recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 28-Dec-2007
Reg. Number: C076560
Nominal Capital MUR.
100,000
Subscribed Capital MUR.
100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Undisclosed Directors
International
Management (Mauritius) Ltd Trustee
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as a consultancy firm
Imports: None
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30 days
(60%), invoices.
Main
Customers: firms and
organizations
Employees: 3 employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 2.500 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 = 28.18 Mauritius Rupee
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 MUR.
Undisclosed
BANK
Bank Name: BARCLAYS BANK
Branch: Port Louis, Mauritius
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This
information was obtained from outside sources other than the subject company
itself. The company is a Global Business Category 1
(GBL1) engaged in qualified global business and which is carried on from within
Mauritius with persons all of whom are resident outside Mauritius.
Confidentiality is strictly observed and No person or body is authorized to
disclose information or present documentation to any court, tribunal, committee
of inquiry or other authority in Mauritius. Though full disclosure is required
on the beneficial owners of the company, such information is not available for
public inspection.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.72.34 |
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Euro |
1 |
Rs.63.87 |
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.