MIRA INFORM
REPORT
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Report Date : |
23.05.2011 |
IDENTIFICATION DETAILS
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Name : |
HAREL MALLAC TECHNOLOGIES LTD |
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Registered Office : |
18 Edith
Cavell Street, Port Louis |
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Country : |
Mauritius |
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Financials (as on) : |
31.12.2009 (group) |
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Date of Incorporation : |
25.08.1988 |
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Com. Reg. No.: |
C 7231 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Retail Trade of computer
hardware, accessories, IT solutions and Services |
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 100,000 |
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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
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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: HAREL MALLAC TECHNOLOGIES LTD
Requested Name: Harel
Mallac Technologies Ltd
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: 18 Edith
Cavell Street, Port Louis, Mauritius
Postal Address: P.o Box 36
Port Louis
Country: Mauritius
Phone: 230 2073200
Cell: 230
2564188
Fax: 230 2073232
Email: www.hmtechnologies.mu
Website: www.hmtechnologies.mu
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a low risk
of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 25/08/1988
Reg. Number: C 7231
Nominal Capital MUR. 60,825,000
Subscribed Capital MUR. 60,825,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Alain Ah Sue CEO
Mr. Christopher Boland Director
Mr. Charles P.l. Harel Director
Mr. R.J. Paul Clarenc Director
Mr. Shateeaum Sewpaul, Manager
Mr. Charles Yan Shi Cheung Manager
Mr. Clifford Grenade Manager
Mr. Varley Anadachee Manager
Mr. Jennifer Deville Manager
Harel Mallac
and Company Holding
Co 100%
RELATED COMPANIES
Harel Mallac and Company Parent company.
None Subsidiary company.
Harel Mallac Bureautique,
Harel Mallac Engineering,
Harel Mallac International,
Harel Mallac Outsourcing,
Harel Mallac Technologies,
Harel Mallac Training Institute,
Harel Mallac Travel and Leisure,
Henkel Chemicals (Mauritius),
Compagnie des Magasins Populaires Limitée (Monoprix),
The Mauritius Chemical and Fertilizer Industry Limited
(MCFI).
Total Mauritius Limited,
Rehm Grinaker
Construction Co. Ltd,
Mauvilac
Industries Limited Affiliated company.
None Shareholder of subject firm.
2 in Mauritius Branches of the firm
OPERATIONS
Registered to carry out retail trade of computer hardware, accessories, IT solutions and Services
Imports: Europe,
Asia and South Africa
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(70%) and 60 days (30%), invoices.
Main Customers: Distribution
firms , agents etc
Employees: 200
employees
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Owned
premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors: BDO DE CHAZAL DU MEE
Insurance Brokers: AIG
Company Secretary: HM
SECRETARIES LTD.
FINANCE
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 32 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
Sales 381,500,000
BANK
Bank Name: Mauritius Commercial Bank
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 and confirmed the above subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.34 |
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.