MIRA INFORM REPORT

 

 

Report Date :           

03.10.2011

 

IDENTIFICATION DETAILS

 

Name :

TIP SERVICES

 

 

Registered Office :

Bp 423 Rue Pene 98880 La Foa Noumea Province Sud Nouvelle Caledonie

 

 

Country :

New Caledonia

 

 

Date of Incorporation :

27.06.1995

 

 

Legal Form :

Societe A Responsabilite Limitee (SARL)

 

 

Line of Business :

Agricultural Engineering

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

15 000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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)

New Caledonia

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME & COMPANY SUMMARY

 

IDENTIFICATION

Ordered as:

TIP SERVICES

Address in the order:

Company                  :  TIP SERVICES

GivenAddress             :  BP 423 Rue Pene 98880 La Foa

Country                  :  New Caledonia

 

 

Legal Name:

TIP SERVICES

 

 

Legal Address

BP 423 RUE PENE 98880 LA FOA NOUMEA PROVINCE SUD NOUVELLE CALEDONIE

 

 

Telephone:

687 43 19 24

Document Number :

1995 B 0433573

Fax:

687 43 23 02

Legal Form:

Societe A Responsabilite Limitee (SARL)

Email:

tipservices@mls.nc

Registered in:

New Caledonia

Website:

N.A.

Date Created:

1995

Manager:

JEAN MARC GIULIANO

Date Incorporated:

June 27, 1995

Staff:

2

Stock:

N.A.

 

 

Value:

1 000 000 FCFP

Activity:

AGRICULTURAL ENGINEERING

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: 15 000 EUR

 

 

DIRECTORS/MANAGEMENT

 

Management:

Jean Marc Giuliano and Alain Gris are the managers.

 

 

NEGATIVE INFORMATION

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders Parent Company(ies):

 

Jean Marc Giuliano and Alain Gris are the shareholders.

 

 

PAYMENT INFORMATION

 

PAYMENTS

 

regular

The company imports from worldwide

The company does not export

 


DEBT COLLECTIONS AND PAYMENTS

Public

NO

Payments

REGULAR

Indebtedness

CONTROLLED

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

XPF

2010

Turnover

105 000 000

The cash flow is

low

 

Comments on the financial data: Turnover has been stagnating for the 3 past years.


FINANCIAL SUMMARY

 

Profitability

LOW

 

 

Cash

LOW

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

BANKS

Name of the Bank

BNC

BUSINESS

PRINCIPAL ACTIVITY

 

The company offers agricultural engineering services and sells agricultural machinery.

Sales are:

 

Retail

Clients:

 

Agricultural companies

Operations area:

 

Local

The company imports from worldwide

The company does not export

Trade References:

 

The person contacted refused to provide the names of their suppliers for us to check the trade references.

Competitors:

 

FARMAGRI DISTRIBUTION

GIE D'APPROVISIONNEMENT AGRICOLE

The subject employs 2 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered and single located at the above address.

The property is:

 

Rented

Business Overview:

 

Demand for machinery depends on overall industrial activity and on the health of sectors such as agriculture, construction, and power generation. The profitability of individual companies depends on engineering expertise and efficient production. Large companies have economies of scale in purchasing. Small companies can compete effectively by specializing.

Listed at the stock exchange:

 

NO

 

 

Rating

 

Local credit bureau gave a correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

The company has 16 years in the business.

It is a small sized Caledonian company, evolving in a difficult sector.

Profitability is low, indebtedness is controlled, cash is low and payments are regular.

This business is serious and well managed; the stagnation is due essentially to the current economic sluggishness.

We did not find a specific adverse record against the subject.

A business connection can be conducted and a credit line considered for 15 000 EUR.

 

 

NOTES & COMMENTS

 

Na

 

 

                                                             

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.