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Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
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Name : |
INDIAMER TRADING LTD. |
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Registered Office : |
Business Consult, 6th Floor, Nirmal House, 22 Sir William Newton
Street, Port Louis |
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Country : |
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Date of Incorporation : |
14.10.2008 |
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Com. Reg. No.: |
C084356 |
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Legal Form : |
Global Business Category 2 |
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Line of Business : |
General Trading Activities |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
MAURITIUS - ECONOMIC OVERVIEW
Since independence in 1968,
Mauritius has developed from a low-income, agriculturally based economy to a middle-income
diversified economy with growing industrial, financial, and tourist sectors.
For most of the period, annual growth has been in the order of 5% to 6%. This
remarkable achievement has been reflected in more equitable income
distribution, increased life expectancy, lowered infant mortality, and a
much-improved infrastructure. The economy rests on sugar, tourism, textiles and
apparel, and financial services, and is expanding into fish processing,
information and communications technology, and hospitality and property
development. Sugarcane is grown on about 90% of the cultivated land area and
accounts for 15% of export earnings. The government's development strategy
centers on creating vertical and horizontal clusters of development in these
sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed
at commerce in India, South Africa, and China. Investment in the banking sector
alone has reached over $1 billion. Mauritius, with its strong textile sector,
has been well poised to take advantage of the Africa Growth and Opportunity Act
(AGOA). Mauritius' sound economic policies and prudent banking practices helped
to mitigate negative effects from the global financial crisis in 2008-09. GDP
grew more than 4% per year in 2010-11, and the country continues to expand its
trade and investment outreach around the globe.
Source
: CIA
Registered Name: INDIAMER TRADING LTD.
Requested Name: INDIAMER
TRADING LTD.
Other Names: None
Physical Address: Business Consult, 6th Floor,
Nirmal House,
22
Sir William Newton Street, Port Louis
Postal Address: Business Consult, 6th Floor,
Nirmal House,
22
Sir William Newton Street, Port Louis
Country: Mauritius
Phone: 230-2116535/67167484
Fax: 230-2116964
Email: businessconsult@intnet.mu
Website: www.businessconsult.mu
Financial Index as of December 2011 shows subject firm with a medium
risk of credit.
Legal Form: GLOBAL BUSINESS CATEGORY 2
Date Incorporated: 14-Oct-2008
Reg. Number: C084356
Nominal Capital MUR. 50,000
Subscribed Capital MUR. 50,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Undisclosed Director
BUSINESS CONSULT Trustee
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate general trading activities
Imports: None
Exports: None
Trademarks: None
Terms of sale: None
Stated
Main Customers: Undisclosed
Employees: 1
employee.
Vehicles: None
Stated
Territory of
sales: Mauritius
Location: Undisclosed
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.39 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: Undisclosed
Comments: None
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.78 |
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1 |
Rs.85.16 |
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Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.