MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AGRICULTURAL MARKETING BOARD |
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Registered Office : |
Dr George Leclezio Avenue,
Moka |
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Country : |
Mauritius |
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Year of Establishments: |
1964 |
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Legal Form : |
State Corporation |
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Line of Business : |
Subject provide and enhance diversification of agriculture 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.
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Source : CIA |
Registered Name: AGRICULTURAL MARKETING BOARD
Requested Name: AGRICULTURAL
MARKETING BOARD
Other Names: AMB
Physical Address: Dr George Leclezio Avenue, Moka
Postal Address: Dr George Leclezio Avenue, Moka
Country: Mauritius
Phone: 230-4334025
Fax: 230-4334837
Email: agbd@intnet.mu
Website: amb.intnet.mu
Legal Form: State Corporation
Date Incorporated: 1964
Reg. Number: Mauritius
Budget Capital MUR. 35,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. T. Dewoo Chairman
Mr. Parmanand
Ramnawaz MD
Dr J. R. N.
Govinden Director
Mr. J. C. Monty Director
Mr. H. Daby Director
Mr. B. Manikam Director
Mr. N. Naguib Director
Mr. M. Bisesar Director
Government of
Mauritius Shareholder 100%
Government of Mauritius Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
2 in Mauritius Branches of the firm
Registered to provide and enhance diversification of agriculture in
Mauritius
Imports: Asia,
Middle East
Exports: Neighboring
countries
Trademarks: None
Terms of sale: 100%
tenders
Main Customers: Producers
and consumers
Employees: 300
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Owned
premises, 10,000 square feet,
Auditors: The Government Auditor
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 31.22 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 75,000,000
Bank Name: State Bank Of Mauritius Ltd
Branch: International Business Division, State Bank Tower 3rd Flr,
Mauritius
Comments: Other Banks
Mauritius
Commercial Bank Ltd
Bank
of Baroda
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.55.04 |
|
UK Pound |
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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.