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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
STEEL SCRAP LTD |
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Registered Office : |
Industrial Zone Plaine Lauzun , Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
23.12.1964 |
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Com. Reg. No.: |
C06001438 Port Louis, Mauritius |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributors & exporters of scrap Metal, aluminium and Plastics |
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No. of Employees : |
10 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Mauritius |
A2 |
A2 |
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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 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: 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
Fax: 230-2082825
Email: None
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 23/12/1964
Reg. Number: C06001438
Port Louis, Mauritius
Nominal Capital RS. 1,000,000
Subscribed Capital RS. 1,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Marc Raoul
Techer Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as Distributors & exporters of scrap Metal,
aluminium and Plastics
Imports: None
Exports: Asia,
Middle East
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 1,500 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Mauritius Rupee
(RS.)
Approx. Ex. Rate: 1 US Dollar = 32 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
Profit and Loss (expressed in RS.)
2012
Sales 65,000,000
Bank Name: Bank
Branch: Port Louis
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
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|
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 |
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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 |
|
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 |
|
-- |
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.