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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ESSAR OIL MAURITIUS LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.08.2008 |
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Com. Reg. No.: |
C082882 |
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Legal Form : |
Global Business Category 2 |
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Line of Business : |
Oil and gas industry |
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No. of Employees : |
Not Available |
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 : |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Registered Name: ESSAR OIL MAURITIUS LIMITED
Requested Name: ESSAR
OIL MAURITIUS LIMITED
Other Names: None
Physical Address: DCDM Building, 10 Frere Felix de
Valois Street, Port Louis
Postal Address: P. o. Box 799
Port Louis
Country: Mauritius
Phone: 230-2023000
Fax: 230-2080086
Email: None
Website: None
Financial Index as of December 2011 shows subject firm with a medium
risk of credit.
Legal Form: GLOBAL BUSINESS CATEGORY 2
Date Incorporated: 14/08/2008
Reg. Number: C082882
Nominal Capital MUR. 50,000
Subscribed Capital MUR. 50,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Director
ESSAR OIL HOLDINGS LIMITED Parent company.
None Subsidiary company.
ESSAR OIL & GAS LTD
ESSAR OILFIELDS SERVICES LIMITED Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Oil and gas industry
Imports: None
Exports: None
Trademarks: None
Terms of sale: Not
Indicated
Main Customers: Undisclosed
Employees: Undisclosed
Vehicles: Not
Indicated
Territory of
sales: Outside
Mauritius
Location: Undisclosed
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.97 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 not Submitted
MUR.
Undisclosed
Bank Name: Barclays Bank
Branch: Mauritius
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
A Global
Business Category 2 (GBL2) 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 GBL2 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
GBL2 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
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Indian Rupees |
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US Dollar |
1 |
Rs.54.55 |
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UK Pound |
1 |
Rs.85.48 |
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Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.