|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
OCL GLOBAL LTD. |
|
|
|
|
Registered Office : |
44, Saint George Street Port Louis |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Date of Incorporation : |
17.01.2006 |
|
|
|
|
Com. Reg. No.: |
60429 |
|
|
|
|
Legal Form : |
Global Business Category 2 |
|
|
|
|
Line of Business : |
Dealing in steel and allied products |
|
|
|
|
No. of Employees : |
105 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 this
period, annual growth has been on the order of 5% to 6%. This 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 of the global financial crisis in 2008-09. GDP grew in the
3-4% per year range in 2010-12, and the country continues to expand its trade
and investment outreach around the globe.
Source
: CIA
Registered Name: OCL GLOBAL LTD.
Requested Name: OCL
GLOBAL LTD.
Other Names: None
Physical Address: 44, Saint George Street Port
Louis
Postal Address: 44, Saint George Street
Port Louis
Country: Mauritius
Phone: 230-2101867/3386
Fax: 230-2105922
Email: Fideco@intnet.mu
Website: www.fidecoglobal.com
Financial Index as of December 2012 shows subject firm with a medium
risk of credit.
Legal Form: Global Business Category 2
Date Incorporated: 17-Jan-2006
Reg. Number: 60429
Nominal Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Shri Pradip Kumar
Khaitan Group CEO/Chairman
Shri Gaurav Dalmia Group MD
Shri Damodar Das
Atal Group Director
OCL India Limited Shareholder 100%
Mr. Nowsad Nauthoo (on behalf of
Fideco Global Business Services Ltd.) Agent
OCL India Limited Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as a company dealing in steel and allied products
Imports: China,
India and South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: (Group) 105
employees
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 8.000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.98 Mauritius Rupee
Fiscal Year End: December
31, 2012
Inflation: According
to information given by independent sources, the inflation at December
31st, 2012 was of 13%.
Financial Information not Submitted MUR.
Undisclosed
Bank Name: Mauritius Commercial Bank
Comments: None
Experiences: Good
None
This information was
obtained from outside sources other than the subject company itself.
The company is a (GLOBAL BUSINESS CATEGORY 2 )
limited company, 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. A GBL2 may be locally incorporated or registered as a branch of a
foreign company.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.