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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
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Name : |
JISL OVERSEAS LTD |
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Registered Office : |
C/o
Multiconsult Limited, Rogers House, 5 President John Kennedy St., Port-Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
09.11.1994 |
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Com. Reg. No.: |
C13601 |
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Legal Form : |
Global Business Category
1 |
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Line of Business : |
Holding and investment
company |
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No. of Employees : |
3 employees. |
RATING & COMMENTS
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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 |
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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.
|
Source
: CIA |
|
Registered Name: |
JISL OVERSEAS
LTD |
|
Requested Name: |
JISL OVERSEAS LTD |
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Other Names: |
None |
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Physical Address: |
C/o
Multiconsult Limited, Rogers House, 5 President John Kennedy St., Port-Louis |
|
Postal Address: |
C/o
Multiconsult Limited, Rogers House, 5 President John Kennedy St., |
|
|
Port-Louis |
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Country: |
Mauritius |
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Phone: |
230-4052007 |
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Fax: |
230-2125265 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
GLOBAL BUSINESS CATEGORY
1 |
|
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Date Incorporated: |
9-Nov-1994 |
|
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Reg. Number: |
C13601 |
|
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Nominal Capital |
MUR.
1,000,000 |
|
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Subscribed Capital |
MUR.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
|
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Position |
Shares |
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Mr. Bhavarlal H. Jain |
Chairman |
|
|
Mr. Ashok B. Jain |
Vice
Chairman |
|
|
Mr. Anil B. Jain |
Director |
|
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Multiconsult Limited |
Trustee/agent |
|
|
Jain Irrigation Systems Limited |
Holding
Co. |
100% |
|
Jain Irrigation Systems
Limited |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Holding and investment
company |
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Imports: |
None |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
None Stated |
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Main Customers: |
None Stated |
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Employees: |
3 employees. |
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Vehicles: |
Not Indicated |
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Territory of sales: |
Mauritius |
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Location: |
Not Indicated |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Mauritius Rupee (MUR.) |
|
Approx. Ex. Rate: |
1 US Dollar = 30.93
Mauritius Rupee |
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Fiscal Year End: |
December 31, 2012 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2012 was of 13%. |
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Financial Information not
Submitted |
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Bank Name: |
BARCLAY
BANK |
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Comments: |
None |
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Experiences: |
Good |
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|
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NOTARIAL BONDS |
None |
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This information was
obtained from outside sources other than the subject company itself. 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. 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.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
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.