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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CENTRAL ELECTRICITY BOARD |
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Registered Office : |
Royal Road, Curepipe |
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Country : |
Mauritius |
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Date of Incorporation : |
08.02.2007 |
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Com. Reg. No.: |
F07000041 |
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Legal Form : |
State Corporation |
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Line of Business : |
Subject operate as production and supply of electricity in Mauritius |
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No. of Employees : |
300 |
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 |
|
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 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: CENTRAL ELECTRICITY BOARD
Requested Name: CENTRAL
ELECTRICITY BOARD
Other Names: CEB.
Physical Address: Royal Road, Curepipe
Postal Address: P. o. Box 40
Royal Road, Curepipe
Country: Mauritius
Phone: 230-6011100
Fax: 230-6757958
Email: ceb@intnet.mu
Website: www.ceb.intnet.mu
Legal Form: State Corporation
Date Incorporated: 8-Feb-2007
Reg. Number: F07000041
VAT Number: VAT22000591
Budget Capital MUR. 8,277,356,389
Budget Capital is Subscribed in the following form:
Position Shares
Mr. Balraj Narroo Chairman
Mr. Shiam Krisht
Thannoo GM
Dr. P. M. K.
Soonarane Member
Mr. Kresh
Seebundhun Member
Mr. Claude Wong So Member
Mr. Shivdut
Bheechook Member
Mr. Rohit Mungra Member
Mr. Dhinnesh
Ramduny Member
Mr. Abdool Feroze
Acharauz Member
Mr. Balrajsanee
Narayen Member
Government of
Mauritius Stakeholder 100%
Government of
Mauritius Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate production and supply of electricity in Mauritius
Imports: Europe
Exports: None
Trademarks: None
Terms of sale: 100%
tenders
Main Customers: General
Public
Employees: 300
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Owned
premises, 50,000 square feet,
Auditors: National Audit Office
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.79 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 MUR.)
2012
Income 15,320,000,000
Bank Name: Central Bank of Madagascar
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
UK Pound |
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
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 |
|
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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.