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Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
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Name : |
STEEL SCRAP LTD. |
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Registered Office : |
Industrial Zone Plaine
Lauzun, |
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Country : |
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Date of Incorporation : |
23.12.1964 |
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Com. Reg. No.: |
C1438 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Operate as merchants and exporters of scrap metal |
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No. of Employees : |
38 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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: STEEL SCRAP LTD.
Requested Name: STEEL
SCRAP LTD.
Other Names: None
Physical Address: Industrial Zone Plaine Lauzun, Port Louis
Postal Address: P. o. Box 722
Port Louis
Country: Mauritius
Phone: 230-2120356/2120606/0824/5490622
Fax: 230-2082825
Email: techtrade@intnet.mu/techiw96@intnet.mu
Website: none
Financial Index as of December 2011 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 23-Dec-1964
Reg. Number: C1438
Nominal Capital MUR 100,000
Subscribed Capital MUR 100,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Norbert Ross CEO
Mr. Ahmad Taujoo Finance Director
Mr. Marc Techer GM
Mr. Iqbal Rustom Manager
None Parent company.
None Subsidiary company.
ECLAIR BATTERIES LTD,
TECH TRADE LTD. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as merchants and exporters of scrap metal
Imports: None
Exports: Asia,
South Africa
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 38
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 2,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.49 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 85,000,000 93,500,000
Bank Name: MCB
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.97 |
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1 |
Rs.83.67 |
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Euro |
1 |
Rs.67.19 |
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.