MIRA INFORM REPORT
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Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
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Name : |
WILEMINA FINANCE CORPORATION |
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Registered Office : |
C/O Abax Corporate Services Ltd.
(Corporate Secretaries), 6th Floor, Tower A, 1 Cyber City, Ebene |
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Country : |
Mauritius |
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Date of Incorporation : |
07.01.2011 |
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Com. Reg. No.: |
C100157 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
General Trading Company |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment
Behaviour : |
---- |
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Litigation : |
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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 |
SUBJECT'S NAME
Registered Name: WILEMINA FINANCE CORPORATION
Requested Name: WILEMINA
FINANCE CORPORATION
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: C/O
Abax Corporate Services Ltd. (Corporate Secretaries)
6th
Floor, Tower A, 1 Cyber City, Ebene, Mauritius
Postal Address: 6th Floor, Tower A, 1 Cyber City,
Ebene, Mauritius
Port
Louis
Country: Mauritius
Phone: +230-4036000
Fax: +230-4036060
Email: abax@abaxservices.com
Website: None
LEGAL
Legal Form: Global Business Category 1
Date Incorporated: 07-01-2011
Reg. Number: C100157
Nominal Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Ms. Nousrath
Bhugeloo Trustee
Ms. Anjeelee
Chinamal Trustee
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 General Trading company
Imports: Undisclosed
Exports: Undisclosed
Trademarks: Undisclosed
Terms of sale: Undisclosed
Main Customers: firms
and organizations
Employees: 2
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 Rupees (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30 Mauritius Rupees
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 Submitted
MUR.
Profit and Loss (expressed in MUR.)
2010
Sales Undisclosed
BANK
Bank Name: Barclays 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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.97 |
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UK Pound |
1 |
Rs.74.22 |
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Euro |
1 |
Rs.63.66 |
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.