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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SNC LAVALIN MAURITIUS LTD |
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|
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Registered Office : |
8th
Floor Medine Mews, LA Chaussee Street, Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
13.06.2008 |
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Com. Reg. No.: |
081197 C1/GBL |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Consultancy firm |
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No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Unknown |
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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 |
|
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: SNC LAVALIN MAURITIUS LTD
Requested Name: SNC
LAVALIN MAURITIUS LTD
Other Names: None
Physical Address: 8th Floor Medine Mews, LA
Chaussee Street, Port Louis
Postal Address: 9th Floor Medine Mews, La
Chaussée Street
Port Louis,
Country: Mauritius
Phone: 230-2034300
Fax: 230-2108792
Email: mauritius@applebyglobal.com
Website: www.applebyglobal.com
Financial Index as of December 2012 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 13-June-2008
Reg. Number: 081197
C1/GBL
Nominal Capital MUR. 10,000
Subscribed Capital MUR. 10,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Stephan
Fiedler MD
Appleby Management
(Mauritius) Ltd Trustee/Agent
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Consultancy firm
Imports: Undisclosed
Exports: Undisclosed
Trademarks: None
Terms of sale: Undisclosed
Main Customers: None
Stated
Employees: 3
employees.
Vehicles: None
Stated
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 = 30.91 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
Bank Name: MCB
Branch: Mauritius
Comments: None
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject.
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.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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 |
|
---- |
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.