MIRA INFORM REPORT

 

 

Report Date :

21.05.2012

 

IDENTIFICATION DETAILS

 

Name :

ZINACO INTERNATIONAL LIMITED

 

 

Registered Office :

Suites 340-345, Barkly Wharf, Le Caudan Waterfront, P. o. Box 1070 Port Louis

 

 

Country :

Mauritius

 

 

Date of Incorporation :

18.03.2009

 

 

Com. Reg. No.:

C087044

 

 

Legal Form :

Global Business Category 2 (GBL 2)

 

 

Line of Business :

Operate as a Consultancy Firm

 

 

No. of Employees :

2

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Offshore Company

Payment Behaviour :

Unknown

Litigation :

--

 

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

 

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:                                  ZINACO INTERNATIONAL LIMITED

Requested Name:                                  ZINACO INTERNATIONAL LIMITED

Other Names:                                        None

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                  Suites 340-345, Barkly Wharf, Le Caudan Waterfront, Port Louis

Postal Address:                                     P. o. Box 1070

                                                            Port Louis

Country:                                                Mauritius

Phone:                                                  230-4225180/2101000

Fax:                                                      230-2102000

Email:                                                   mauritius@aamil.com

Website:                                               www.aamil.com

 

CREDIT OPINION

 

Financial Index as of December 2011 shows in the absence of a payment pattern and financial information, we would recommend that all dealings with the subject be on a secured basis.

 

LEGAL

 

Legal Form:                                                    GLOBAL BUSINESS CATEGORY 2 (GBL 2)

Date Incorporated:                                           18-March-2009

Reg. Number:                                                 C087044

Nominal Capital                                               MUR. 100,000

Subscribed Capital                                          MUR. 100,000

Subscribed Capital is Subscribed in the following form:

                                                                     Position                          Shares

Undisclosed                                                    Director                           

AAMIL LTD                                                     Agent/Trustee                  

 

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 a consultancy firm

Imports:                                                          None Stated

Exports:                                                         None Stated

Trademarks:                                                   None

Terms of sale:                                                 None Stated

                                                                    

Main Customers:                                             None Stated

Employees:                                                    2 employees.

Vehicles:                                                        None Stated

Territory of sales:                                            Mauritius

Location:                                                        Information Not Availed

 

AUDITORS AND INSURANCE   

 

Auditors:                                                        Information not available.

Insurance Brokers:                                          Information not available.

 

FINANCE 

 

Currency Reported:                                         Mauritius Rupee (MUR.)

Approx. Ex. Rate:                                           1 US Dollar = 29.25 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                  Undisclosed

 

                                                                    

BANK 

 

Bank Name:                                                   MCB BANK

Branch:                                                          Port Louis, 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.

This company is a GLOBAL BUSINESS CATEGORY 2 (GBL 2) which is registered in Mauritius; It is difficult to investigate such a Company due to the Seychelles regulations protecting the non-disclosure of the name of the shareholders. It is a tax exempt company therefore has no access the network of Double Taxation Agreements of Mauritius. It cannot carry out business of company formation, administration and management or provide professional nominee or trusteeship services. 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.

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.

 

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.

 

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. The kept by the Registrar of Companies may only be inspected by the shareholders of the company.

A GBL2 may be locally incorporated or registered as a branch of a foreign company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.87

UK Pound

1

Rs.86.46

Euro

1

Rs.69.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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