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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SUPER HI FOODS LTD |
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Registered Office : |
Super-Hi Complex, Village Council Road Terre Rouge |
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Country : |
Mauritius |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.08.2004 |
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Com. Reg. No.: |
C13191 |
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Legal Form : |
Limited
Corporation |
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Line of Business : |
Importers and distributors of food products such as
rice, ghee, canned tomatoes, dates, saffron |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
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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
Source
: CIA
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Registered Name: |
SUPER HI FOODS LTD |
|
Requested Name: |
SUPER HI FOODS LTD |
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Other Names: |
None |
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Physical Address: |
Super-Hi Complex, Village
Council Road Terre Rouge |
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Country: |
Mauritius |
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Phone: |
230-2482182 |
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Fax: |
230-2491545 |
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Email: |
fairsup@intnet.mu |
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Website: |
www.superhifoods.com |
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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. We recommend Credit of USD 100,000 on 90
days. |
|
Legal Form: |
Limited Corporation |
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Date Incorporated: |
16-Aug-2004 |
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Reg. Number: |
C13191 |
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Nominal Capital |
MUR. 50,000 |
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Subscribed Capital |
MUR. 50,000 |
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Subscribed Capital
is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. Oumey Burtally |
Director |
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Mr. Ismael Nobeebux |
Director |
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Ms. Oumey Shaheen Burtally |
Director |
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_______________________________________________________________________ |
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject firm. |
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Various in
Mauritius |
Branches of the firm |
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Registered to operate as importers and distributors
of food products such as rice, ghee, canned tomatoes, dates, saffron etc |
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Imports: |
Asia, Middle East |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (60%) and
25-90 days (40%), invoices. |
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Main Customers: |
Local agencies,
stores, outlets etc |
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Employees: |
22 employees. |
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Vehicles: |
Several motor
vehicles. |
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Territory of
sales: |
Mauritius |
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Location: |
Leased premises, 2,500
square feet, |
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Auditors: |
Information not available. |
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Insurance Brokers: |
Information not available. |
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Currency Reported: |
Mauritius Rupee (MUR.)
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Approx. Ex. Rate: |
1 US Dollar = 30.77 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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||
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Financial Information not Submitted |
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Profit and Loss (expressed in MUR.) |
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2012 |
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Sales |
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94,500,000 |
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Bank Name: |
MCB BANK |
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Branch: |
Mauritius |
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Comments: |
None |
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Experiences: |
Good |
None
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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.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
|
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.