MIRA INFORM REPORT

Report Date :

05.05.2012

IDENTIFICATION DETAILS

Name :	SOCIETE A E PATEL & COMPANY LTD.
Registered Office :	18-Church Street Port Louis
Country :	Mauritius
Year of Establishment :	1998
Com. Reg. No.:	P11330
Legal Form :	Limited Corporation
Line of Business :	Dealers In Organic Products
No. of Employees :	10 employees

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 :	No Complaints
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 31, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Mauritius	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUBJECT'S NAME
Registered Name:	SOCIETE A E PATEL & COMPANY LTD.
Requested Name:	SOCIETE A E PATEL & COMPANY LTD.
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	18-Church Street Port Louis
Postal Address:	18-Church Street
	Port Louis
Country:	Mauritius
Phone:	230-2100128
Fax:	230-2100128
Email:	None
Website:	None
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		1998
Reg. Number:		P11330
Nominal Capital		MUR. 100,000
Subscribed Capital		MUR. 100,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. A. E. Patel		Director
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as dealers in organic products
Imports:		Asia, USA
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		General Public, Firms and organizations
Employees:		10 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Mauritius
Location:		Rented premises, 1,500 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Mauritius Rupee (MUR.)
Approx. Ex. Rate:		1 US Dollar = 29.06 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
Profit and Loss (expressed in MUR.)
		2010	2011
Sales		2,150,000	3,000,000
BANK
Bank Name:		MCB
Branch:		Mauritius
Comments:		None
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.53.72
UK Pound	1	Rs.86.98
Euro	1	Rs.70.69

INFORMATION DETAILS

Report Prepared by :

SHG

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.