MIRA INFORM REPORT

 

 

Report Date :           

15.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SUBRAMANI MANGALI

 

 

Registered Office :

Lot 30b, Albion Front Corentyne, Berbice

 

 

Country :

Guyana

 

 

Year of Establishment :

2002

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Food Trading

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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)

Guyana

c2

c2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

GEOPOLITICS - GUYANA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Present

Currency: 100 GYD = 0.50 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Subramani Mangali

Address in the order:

Lot 30B Albion Front Corentyne Berbice Guyana

 

 

Legal Name:

SUBRAMANI MANGALI

Legal Address

LOT 30B, ALBION FRONT CORENTYNE,

BERBICE, GUYANA

Operative Address

LOT 30B, ALBION FRONT CORENTYNE,

BERBICE, GUYANA

 

Telephone:

(592) 322-0781 / 619-3101 (celphone)

ID :

NA

Fax:

NA

Legal Form:

Sole Proprietorship

Email:

NA

Registered in:

Guyana

Website:

NA

Date Created:

2002

Manager:

Subramani Mangali

Date Incorporated:

NA

Staff:

5

Stock:

NA

 

 

Value:

NA

Activity:

Food Trading

 

 

BANKS

 

Name of the Bank

RBTT BANK

 

 

BUSINESS

 

HISTORY

 

This is a sole proprietorship that has been in business since 2002.

PRINCIPAL ACTIVITY

 

The company operates as an importer and local distributor of food products.

Products/Services description:

 

It specializes in trading beans, peas, col, shell bags, black eyed peas, among others...

Sales are:

 

Wholesale

Clients:

 

Professionals of the industry, mostly retailers and local distributors.

Operations area:

 

National, Local

The company imports from USA, Italy, Mexico, Canada, and others.

The company does not export

Trade References:

 

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

PAYMENTS

 

made on a 65 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at:

Lot 30b, Albion Front Corentyne, Berbice, Guyana

Comments on location:

 

At this location the company operates its main offices and warehouse space.

Branches:

 

There is no other location listed for the subject.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company.

It is a sole propietorship. Subramani Mangali is the owner.

Management:

 

Subramani Mangali, Manager



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Subramani Mangali who refused to provide us any financial data on grounds of confidentiality.

 

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

 

USD

2010

 

Turnover

329,000

 

Operating Income

2,000

 

Net Income

0

 

Net worth

40,000

 

Bank liabilities

7,000

 

The cash flow is

Medium

 


Legal Fillings

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

 

 

Rating

 

Local credit bureau gave a low credit rate.

 

The company is in Good Standing.

This means that all local and federal taxes were paid on due date.

 

 Final Opinion

 

This is a sole proprietorship owned and managed by Subramani Mangali.

 

He counts with the support of 5 people and has been in the food trading business for 9 years. He imports his products and distributes them locally.

 

Through our sources we could gather the estimated range of revenue for 2010. Even though income is fair for its size, the company did not have any profit for the period.

 

Therefore, we suggest working with GUARANTEES and a monitoring report in 8 months to check on the evolution of the business.



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

NIL

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

MEDIUM

 

 






 

APPENDIX

 

Person Interviewed

 

Subramani Mangali

Position

 

Owner

Comments

 

He verified all the information provided in this report, but he refused to provide us any financial data on grounds of confidentiality.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.81

UK Pound

1

Rs.75.16

Euro

1

Rs.65.11

 

 

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.