|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PURE FIJI |
|
|
|
|
Registered Office : |
52, Karsanji St, Suva |
|
|
|
|
Country : |
Fiji |
|
|
|
|
Date of Incorporation : |
14.03.2000 |
|
|
|
|
Com. Reg. No.: |
19932 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Subject operates as a manufacture and online retailer of tropical and
body products. |
|
|
|
|
No. of Employees : |
125 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Fiji |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
FIJI - ECONOMIC OVERVIEW
Fiji, endowed with forest, mineral, and fish resources, is
one of the most developed of the Pacific island economies though still with a
large subsistence sector. Sugar exports, remittances from Fijians working
abroad, and a growing tourist industry - with 400,000 to 500,000 tourists
annually - are the major sources of foreign exchange. Fiji''s sugar has special
access to European Union markets but will be harmed by the EU''s decision to
cut sugar subsidies. Sugar processing makes up one-third of industrial activity
but is not efficient. Fiji''s tourism industry was damaged by the December 2006
coup and is facing an uncertain recovery time. In 2007 tourist arrivals were
down almost 6%, with substantial job losses in the service sector, and GDP
dipped. The coup has created a difficult business climate. The EU has suspended
all aid until the interim government takes steps toward new elections.
Long-term problems include low investment, uncertain land ownership rights, and
the government''s inability to manage its budget. Overseas remittances from
Fijians working in Kuwait and Iraq have decreased significantly. Fiji''s current
account deficit peaked at 23% of GDP in 2006, and declined to 12.5% of GDP in
2012.
|
Source
: CIA |
Company Name:
Company acronym:
PURE
FIJI
Contact
Information
|
Address |
52, Karsanji St, Suva Fiji |
|
Postal Address |
Box 664, Suva, Fiji Islands |
|
Telephone |
+679 3383611 +679 3343431 |
|
Fax |
+ 679 3383611 +679 3373451 |
|
Email |
Info@purefiji.com |
|
Website |
www.purefiji.com |
|
Other Information |
- |
Registration Data
|
Date of Registration |
14/03/2000 |
|
Registration number |
19932 |
|
Legal address |
52, Karsanji St, Suva Fiji |
|
Legal Form |
Limited
Liability Company |
|
Authorized Capital |
400,000.00 FJD |
|
Other Registration Data |
- |
Board/Executive
|
Name |
Mr. Ateca
Fonmanu |
|
Position within the company |
Director |
|
Country of Birth |
Fiji |
|
Nationality |
Fijian |
|
Can fluently speak |
English |
|
Name |
Mr. Tui Matakibau |
|
Position within the company |
Manager |
|
Country of Birth |
Fiji |
|
Nationality |
Fijian |
|
Can fluently speak |
English |
|
Name |
Mrs. Nau Jope |
|
Position within the company |
Office Manager |
|
Country of Birth |
Fiji |
|
Nationality |
Fijian |
|
Can fluently speak |
English |
Litigation, Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Shareholders with Shares
It declined it.
Export/Import ( Countries, goods and total values
for the period)
|
Imports From |
Australia |
|
Importing Terms |
Letters of Credit |
|
Import % and type of product |
100%- Finished Goods |
|
Exports To |
Asian countries |
|
Exporting Terms |
Letters of Credit |
|
Export % and type of product |
10%- Finished Goods |
Suppliers, Partners
|
Suppliers |
- |
|
Partners |
- |
Subsidiaries and Participation
|
Parent Company |
- |
|
Subsidaries |
|
|
Affiliates |
- |
Financial Information
It declined it.
N/a
Changes in Registration Data
None recorded.
Activities ( realistic and officials)
It operates as a manufacture and online retailer of tropical and body products.
Staff
|
Number of staff employed |
125 |
Facilities
|
Owned |
Office, Warehouses |
|
Premises Size |
- |
Branches
|
Address |
Australia, New Zealand |
Bankers
|
Bank |
Fiji Bank |
|
Branch |
- |
|
Address |
- |
|
Telephone |
- |
Representation
|
Auditors |
- |
|
Solicitors |
Mr. Simon Matea |
Reporter Comments
|
Comments Date |
13/06/2013 |
|
Comments |
In the interview conducted with Mrs. Nau Jope, she refused to cooperate with us completely. |
|
Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. |
|
Owner/Shareholders Comments |
All of
the owners / shareholders have an active participation in
the running of the business. |
|
Age of Business |
Old Business |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.