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Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
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Name : |
METALMIN METALS AND MINERALS LTD |
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Registered Office : |
19th Floor, Newton Tower, Sir
William Newton Street Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
29.04.2008 |
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Com. Reg. No.: |
C079954 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
dealers in metals
and minerals |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
Registered Name: METALMIN
METALS AND MINERALS LTD
Requested Name: METALMIL AND MINERALS LTD.
Other Names: None
Physical Address: 19th Floor, Newton Tower, Sir
William Newton Street Port Louis
Postal Address: 19th Floor, Newton Tower, Sir
William Newton Street
Port Louis
Country: Mauritius
Phone: 230-2100400/4059000
Fax: 230-4059001
Email: office@gmgtrust.com
Website: www.gmgtrust.com
Financial Index as of December 2011 shows subject firm with a medium
risk of credit.
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 29-April-2008
Reg. Number: C079954
Nominal Capital MUR. 50,000
Subscribed Capital MUR. 50,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Henk Barnhoorn Trust Director
Mrs. Brinda Muruga Trust Director
Ms. Brenda Matiliwa Admin
GMG TRUST LTD Trustee
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in metals and minerals
Imports: None
Exports: None
Trademarks: None
Terms of sale: Not
Indicated
Main Customers: Industries,firms
and organizations
Employees: 3
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.70 Mauritius Rupee
Fiscal
Year End: December 31, 2011
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2011 was of 13%.
Financial
Information Submitted MUR.
Undisclosed
Bank Name: MCB
Branch: Mauritius
Comments: None
Experiences: Not Indicated
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
As defined under the
Financial Services Development Act 2001, A Global Business Category 1 (GBL1) is
a company engaged in qualified global business and which is carried on from
within Mauritius with persons all of whom are resident outside Mauritius and where
business is conducted in a currency other than the Mauritian rupee.
It is the recommended
structure for individuals, body corporate, trust or partnership including
limited liability partnership or a société for investment and other high
profile business. A GBL1 may be locally incorporated or may be registered as a
branch of a foreign company. Public companies, those engaged in banking,
insurance and fund management, and companies wishing to benefit from the
provisions of Double Taxation Agreements (DTAs), can only be incorporated as
GBL1 companies.
Confidentiality
is strictly observed in terms of the Financial Services Development Act
2001(FSD Act). No person or body is authorized to disclose information or
present documentation to any court, tribunal, committee of inquiry or other
authority in Mauritius unless ordered to do so by a Court of Law on application
by the Director of Public Prosecution for inquiry into the trafficking of
narcotics and dangerous drugs, arms trafficking or money laundering as defined
under existing legislation. Upon application to the FSC, full disclosure is
required on the beneficial owners of the company. However, such information is
not available for public inspection.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
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UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
<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.