MIRA INFORM REPORT
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Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AXESS LTD |
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Registered Office : |
7th Floor, Swan
Group Centre, 10 Independence Street, Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
05.10.1982 |
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Com. Reg. No.: |
C3778 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
importers, Dealers
of Motor Vehicles, Spares, accessories
etc |
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No. of Employees
: |
50 |
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 250,000 |
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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) |
|
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: AXESS LTD
Requested Name: AXESS
LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: 7th
Floor, Swan Group Centre, 10 Independence Street, Port Louis,
Postal Address: Grewals Lane, Les Pailles, Ile
Maurice
Country: Mauritius
Phone: +230-2064300
Fax: +230-2865121
Email: Axess@axess.mu
Website: www.axess.mu
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a medium
risk of credit. We recommend Credit of USD 250,000 on 90 days. In actual the
business registration number is C06003778
and not C06003773 as you had stated .
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 05/10/1982
Reg. Number: C3778
Nominal Capital MUR. 150,000,000
Subscribed Capital MUR. 150,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Eric Espitalier-Noel MD
Hector
Espitalier-Noel Director
Antoine M.
D’Unienville Director
Olivier Lagesse Director
ENL Commercial
Limited Holding Company 100%
RELATED COMPANIES
ENL Commercial Limited Parent company.
None Subsidiary company.
Rennel Ltd
Charabia Ltd
Pack Plastics Ltd Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as importers, Dealers of Motor Vehicles, Spares, accessories etc
Imports: Europe,
Asia, USA
Exports: None
Trademarks: Jaguar,
Ford, Suzuki, Isuzu,
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: BDO & Co.
Insurance Brokers: Information
not available.
FINANCE
Currency Reported: Mauritius Rupees (MUR.)
Approx. Ex. Rate: 1 US Dollar = 31 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 450,000,000
Net Profit (Loss) 39,000,000
BANK
Bank Name: The Mauritius Commercial Bank
Limited
Branch: Port Louis
Comments: Not contacted
Other Banks Barclays
Bank PLC
State Bank of
Mauritius Ltd
South East Asian
Bank Ltd
SBI (Mauritius) Ltd
Bank One
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.53.27 |
|
UK Pound |
1 |
Rs.82.09 |
|
Euro |
1 |
Rs.68.90 |
RATING EXPLANATIONS
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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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.