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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
METALMIN METAL & MINERALS LTD. |
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Registered Office : |
19th Floor, |
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Country : |
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Date of Incorporation : |
29.04.2008 |
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Com. Reg. No.: |
C079954 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
dealers in metals
and minerals |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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: METALMIN METAL & MINERALS LTD.
Requested Name: METALMIN
METAL & MINERALS LTD.
Other Names: None
Physical Address: 19th Floor, Newton Tower, Sir
William Newton Street Port Louis
Postal Address: 19th Floor, Newton Tower, Sir
William Newton Street
Port Louis
Country: Mauritius
Phone: 230-2100400/4059000
Fax: 230-4059001
Email: office@gmgtrust.com
Website: www.gmgtrust.com
Financial Index as of December 2011 shows subject firm with a medium
risk of credit.
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 29-April-2008
Reg. Number: C079954
Nominal Capital MUR. 50,000
Subscribed Capital MUR. 50,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Henk Barnhoorn Trust Director
Mrs. Brinda Muruga Trust Director
Ms. Brenda Matiliwa Admin
GMG TRUST LTD Trustee
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in metals and minerals
Imports: None
Exports: None
Trademarks: None
Terms of sale: Not
Indicated
Main Customers: Industries,
firms and organizations
Employees: 3
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.70 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: 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.
As defined
under the Financial Services Development Act 2001, A Global Business Category 1
(GBL1) is a company engaged in qualified global business and which is carried
on from within Mauritius with persons all of whom are resident outside
Mauritius and where business is conducted in a currency other than the
Mauritian rupee.
It is the
recommended structure for individuals, body corporate, trust or partnership
including limited liability partnership or a société for investment and other
high profile business. A GBL1 may be locally incorporated or may be registered
as a branch of a foreign company. Public companies, those engaged in banking,
insurance and fund management, and companies wishing to benefit from the provisions
of Double Taxation Agreements (DTAs), can only be incorporated as GBL1
companies.
Confidentiality
is strictly observed in terms of the Financial Services Development Act
2001(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. Upon application to the FSC, full disclosure is required
on the beneficial owners of the company. However, such information is not
available for public inspection.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.81 |
|
UK Pound |
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.