MIRA INFORM
REPORT
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Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ASA INTERNATIONAL HOLDING |
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Registered Office : |
C/O Interface
International Ltd. 9th Floor, Raffles Tower 19 Cybercity Ebene |
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Country : |
Mauritius |
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Date of Incorporation : |
06.04.2007 |
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Com. Reg. No.: |
C070180 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
Microfinance Services and Solutions |
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 80,000 |
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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 – 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 |
SUBJECT'S NAME
Registered Name: ASA INTERNATIONAL HOLDING
Requested Name: ASA INTERNATIONAL HOLDING
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: C/O
Interface International Ltd. 9th Floor, Raffles Tower 19 Cybercity
Ebene
Postal Address: C/O Interface
International Ltd.
9th Floor, Raffles Tower 19 Cybercity
Ebene
Country: Mauritius
Phone: 230-4046060
Fax: 230-4681616
Email: mauritius@catalyst-microfinance.com
Website: www.asa-international.com
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 80,000 on 90 days.
LEGAL
Legal Form: Global Business Category 1
Date Incorporated: 6-April-2007
Reg. Number: C070180
Nominal Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Anwarul Haque
Choudhury MD
Asa International
Group Holding Co.
RELATED COMPANIES
None Parent company.
None Subsidiary company.
In Sri Lanka, Pakistan, Nigeria, India, Europe, Ghana
and Phillipines Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate microfinance services and solutions
Imports: None
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 10 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Mauritius
Location: Rented premises,
5.000 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 = 28.26 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 430,000,000
BANK
Bank Name: STANDARD & CHARTERED BANK
Branch: Ebene, Mauritius
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.
A Global Business Category
1 is a company engaged in qualified global business and which is carried on
from within Mauritius with persons all of whom are resident outside Mauritius
and where business is conducted in a currency other than the Mauritian rupee.
It is the recommended
structure for individuals, body corporate, trust or partnership including
limited liability partnership or a société for investment and other high
profile business. A GBL1 may be locally incorporated or may be registered as a
branch of a foreign company. Public companies, those engaged in banking,
insurance and fund management, and companies wishing to benefit from the
provisions of Double Taxation Agreements (DTAs), can only be incorporated as
GBL1 companies.
Confidentiality is strictly
observed in terms of the FSD Act. No person or body is authorized to disclose
information or present documentation to any court, tribunal, committee of
inquiry or other authority in Mauritius unless ordered to do so by a Court of
Law on application by the Director of Public Prosecution for inquiry into the
trafficking of narcotics and dangerous drugs, arms trafficking or money
laundering as defined under existing legislation. Upon application to the FSC,
full disclosure is required on the beneficial owners of the company. However,
such information is not available for public inspection.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.98 |
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UK Pound |
1 |
Rs.72.68 |
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Euro |
1 |
Rs.64.16 |
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.