MIRA INFORM REPORT
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Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ISSA EMAM BUX ET CIE |
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Registered Office : |
34, Cordrie Street
Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
30.06.1980 |
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Com. Reg. No.: |
P2383 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Textile Industry |
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No. of Employees
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70 Persons |
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 120,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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: ISSA EMAM BUX ET CIE
Requested Name: SIE
ISSA EMAMBUX & CO
Other Names: STE
ISSA EMAMBUX AND CO
ADDRESS AND TELECOMMUNICATION
Physical Address: 34,
Cordrie Street Port Louis
Postal Address: 34,
Cordrie Street,
Port Louis
Country: Mauritius
Phone: 230-2085019
Fax: 230-2085019
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 120,000 on 90 days.
LEGAL
Legal Form: Partnership
Date Incorporated: 30/06/1980
Reg. Number: P2383
Nominal Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Issa Emambux MD/ CEO
Mr. Sakoor Emambux Director
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 textile industry
Imports: Asia,
Europe
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: firms
and organizations
Employees: 70
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Owned
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 = 29.19 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 40,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Overdraft
None, Promissory notes- None
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.98 |
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UK Pound |
1 |
Rs.80.59 |
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Euro |
1 |
Rs.69.12 |
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.