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Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
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Name : |
WCC RESOURCES INTERNATIONAL LTD |
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Registered Office : |
4th Floor, Ebene Skies, Rue de L'Institut, Ebene |
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Country : |
Mauritius |
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Date of Incorporation : |
02.03.2007 |
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Com. Reg. No.: |
C069297 |
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Legal Form : |
Global
Business Category 2 |
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Line of Business : |
General Trading Company |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 40,000 |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Registered Name: WCC RESOURCES INTERNATIONAL LTD
Requested Name: WCC RESOURCES
INT. LTD
Other Names: None
Physical Address: Level 11, 1 Cathedral Square, Port Louis,
Registered Address: 4th Floor, Ebene
Skies, Rue de L'Institut, Ebene, Mauritius
Postal Address: Level 11, 1 Cathedral Square, Port Louis,
Port
Louis,
Country: Mauritius
Phone: 230-2104000/4048000
Fax: 230-2117549/4042188
Email: info@mitco.mu
Website: www.mitco.mu
Financial Index as of December 2011 shows subject firm
with a medium risk of credit. We recommend Credit of USD 40,000 on 90 days.
Legal Form: GLOBAL BUSINESS CATEGORY 2
Date Incorporated: 02/03/2007
Reg. Number: C069297
Nominal Capital MUR 1,000,000
Subscribed Capital MUR 1,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
Pui Chew MD/ CEO
Mauritius
International Trust. Co Limited Trustee of the company
None Parent Company
None Subsidiary company.
Several abroad Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as General Trading company
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Mauritian Rupee (MUR)
Approx. Ex. Rate: 1 US Dollar = 28.97 Mauritian 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 Declined
This information was
obtained from outside sources other than the subject company itself.
The company is a GLOBAL
BUSINESS CATEGORY 2 (GBL2), which is governed and regulated by the Companies
Act 2001 ("CA 2001") and the Financial Services Act 2007 ("FSA
2007").
It is a tax exempt company therefore has no access to the network of
Double Taxation Agreements of Mauritius.; It is NOT resident for tax purposes in Mauritius and does not have
access to treaty benefits.
It is furthermore prevented
from raising capital from the public and offer of provide financial services or
other services as fiduciary in any investment fund or any collective investment
scheme. A GBL2 may be locally incorporated or registered as a branch of a
foreign company.
Confidentiality is strictly observed in terms of the 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.
We are reporting an
offshore company which belongs to foreign shareholders. Although it is
registered in the Mauritius Islands, it uses such territory only as its legal
and administrative address, but all its operations are carried out abroad. It
is managed by a resident registration agent and it is unknown in the
marketplace, so its commercial morality and general reputation cannot be
assessed, although nothing detrimental is noted upon subject. It was difficult
to investigate due to the Mauritius regulations protecting the non disclosure
of the name of the shareholders, additionally the telephone numbers given
declined to assist with information
The identity of the beneficial owner needs to be disclosed only to the
registered agent and to the banker if a bank account is required in Mauritius.
Our sources were able to
know that the shareholders of company are businesses from Singapore; The
ultimate shareholders would be Singapore investors.
We suggest controlling that business for each large
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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 SCs 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.