|
Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHT SOURCE INVEST PTE LTD. |
|
|
|
|
Registered Office : |
C/O GMG Trust
Ltd. 19th Floor, Newton Tower, Sir William Newton Street, Port Louis |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Year of Establishments: |
2012 |
|
|
|
|
Legal Form : |
Global Business Category 1 |
|
|
|
|
Line of Business : |
Subject operate as a general
trading company |
|
|
|
|
No. of Employees : |
02 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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: BRIGHT SOURCE INVEST PTE LTD.
Requested Name: BRIGHT
SOURCE INVEST PTE LTD.
Other Names: None
Physical Address: C/O GMG Trust Ltd. 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: 230-4059000
Fax: 230-4059001
Email: info@gmg-mauritius.com
Website: www.gmg-mauritius.com
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 2012
Reg. Number: Mauritius
Nominal Capital MUR. 30,000
Subscribed Capital MUR. 30,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Undisclosed Director
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 a general trading company
Imports: None
Exports: None
Trademarks: None
Terms of sale: Undisclosed
Main Customers: Undisclosed
Employees: 2
employees.
Vehicles: Undisclosed
Territory of
sales: Mauritius
Location: Undisclosed
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 31.05 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 Submitted Undisclosed
Bank Name: Undisclosed
Branch: Undisclosed
Comments: None
This information was
obtained from outside sources other than the subject company itself
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.54.78 |
|
UK Pound |
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
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.