MIRA INFORM
REPORT
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Report Date : |
18.06.2011 |
IDENTIFICATION DETAILS
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Name : |
FARIDASH CO. LTD |
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Registered Office : |
95 Avenue
D'Epinay Residence Boronia B01 Quatre-Bornes |
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Country : |
Mauritius |
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Date of Incorporation : |
20.09.2001 |
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Com. Reg. No.: |
C27550 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in general
merchandise such as food products, beverages etc |
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 : |
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 – March 31st, 2011
|
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: FARIDASH CO. LTD
Requested Name: FARIDASH
CO. LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: 95
Avenue D'Epinay Residence Boronia B01 Quatre-Bornes
Postal Address: 95
Avenue D'Epinay Residence Boronia B01
Quatre-Bornes
Country: Mauritius
Phone: 230-4547155
Fax: 230-4547125
Email: None
Website: None
CREDIT OPINION
Financial Index as of December
2010 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt
payments. We recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 20-Sept-2001
Reg. Number: C27550
Nominal Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Ashraf Mukadam MD
Mrs. F. Mukadam Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Emeraude Ltee Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in general merchandise such as food
products, beverages etc
Imports: Asia,
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 2.000 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 = 28.01 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 not Submitted
Profit and Loss (expressed in MUR.)
2010
Sales 85,000,000
BANK
Bank Name: Mauritius Commercial Bank
Branch: Quatre-Bornes
Comments: Overdraft None, Promissory notes- None
TRADE REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the
subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.43 |
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Euro |
1 |
Rs.63.62 |
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.