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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
WIOCC |
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Registered Office : |
1001 Alexander House 35 Ebebe
Cybercity |
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Country : |
Mauritius |
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Date of Incorporation : |
07.02.2007 |
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Com. Reg. No.: |
C068654 Port Louis Mauritius |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Telecommunications services and solutions, IT connectivity and Network Solutions |
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No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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: WIOCC
Requested Name: WIOCC
Other Names: None
Physical Address: 1001 Alexander House 35 Ebebe
Cybercity
Postal Address: P.o Box 14137-00800 Nairobi,
Kenya
Notes
:
Advance
Payment Recd
Direct
Deposite in KMB A/C
Rs.4831/-
Ch No 803190
Country: Mauritius
Phone: +254-20-2084970/ 3746594/5
Fax: +254-20-3746595
Email: info@wiocc.net
Website: www.wiocc.net
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: 07/02/2007
Reg. Number: C068654
Port Louis Mauritius
Date Incorporated (Kenya) 12/06/2007
Nominal Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
John Sihra Director
Chris Wood Director
Samuel Ndungu Director
Ryan Sher Director
James Wekesa Director
Mike Last Director
Zainadin Dalsuco Director
Benjamin Choppy Director
Mohamed Ahmed Jama Director
Ali Bin Jarsh Director
Donald Nyakairu Director
Israel Kislev Director
Paul Taylor Director
Salvator
Nizigiyimana Director
Raymond LaForce Director
Abdourahman
Mohamed Hassan Director
Mickael Ghossein Director
Monehela Posholi Director
Mohamed Samir
Elbuni Director
Hampton Mhlanga Director
BTC, Botswana Shareholder 10.00%
TDM, Mozambique Shareholder
ONATEL Burundi Shareholder
Gilat Satcom Shareholder
U-COM Burundi Shareholder
Seychelles Cable
System Co. Shareholder
Djibouti Telecom Shareholder
Dalkom Somalia Shareholder
Telkom Kenya Shareholder
Zantel, Tanzania Shareholder
Lesotho
Communications Authority Shareholder
Uganda Telecom Shareholder
LPTIC, Libya Shareholder
TelOne, Zimbabwe Shareholder
None Parent company.
EAST AFRICAN
SUBMARINE CABLE SYSTEM (EASSY Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Telecommunications services and solutions,
IT connectivity and Network Solutions
Imports: Middle
East
Exports: Asia
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Rented
premises, 5,250 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
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 KES.)
2012
Sales 3,250,000,000
Bank Name: BARCLAYS BANK
Branch: Mauritius
Comments: None
Other
Bankers Standard Bank
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.62.36 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.