MIRA INFORM REPORT

 

 

Report Date :

01.08.2014

 

IDENTIFICATION DETAILS

 

Name :

RUPS INVESTMENTS LTD

 

 

Registered Office :

PO Box 3592, Grantham Roan, Sambaula, Fiji

 

 

Country :

Fiji

 

 

Date of Incorporation :

10.07.1994

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

·         Subject is involved in retails with their chain stores

·         Manufacturing of furniture

 

 

No. of Employees

280

 

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

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Fiji

B2

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

FIJI ECONOMIC OVERVIEW

 

Fiji, endowed with forest, mineral, and fish resources, is one of the most developed of the Pacific island economies though still with a large subsistence sector. Sugar exports, remittances from Fijians working abroad, and a growing tourist industry - with 400,000 to 500,000 tourists annually - are the major sources of foreign exchange. Fiji's sugar has special access to European Union markets but will be harmed by the EU's decision to cut sugar subsidies. Sugar processing makes up one-third of industrial activity but is not efficient. Fiji's tourism industry was damaged by the December 2006 coup and is facing an uncertain recovery time. In 2007 tourist arrivals were down almost 6%, with substantial job losses in the service sector, and GDP dipped. The coup has created a difficult business climate. The EU has suspended all aid until the interim government takes steps toward new elections. Long-term problems include low investment, uncertain land ownership rights, and the government's inability to manage its budget. Overseas remittances from Fijians working in Kuwait and Iraq have decreased significantly. Fiji's current account deficit peaked at 23% of GDP in 2006, and declined to less than 12% of GDP in 2013

 

Source : CIA

 

Company name and address

 

RUPS INVESTMENTS LTD

 

Address

PO BOX 3592, Grantham Roan, Sambaula, Fiji

 

Postal Address

-

Telephone

+ 3385399

Fax

+ 3385399

Email

rupsinvest@msn.com

Website

-

Other Information

-

 

 

 

Registration Data

 

Date of Registration

10/07/1994

Registration number

841202

Legal address

PO BOX 3592, Grantham Roan, Sambaula, Fiji

 

Legal Form

Limited Liability Company

Authorized Capital

2,000,000 FJD

Other Registration Data

-

 

 

 

DIRECTORS/MANAGEMENT

 

Shareholders with Shares

 

It declined.

 

 

Board/Executive

 

Name

Mr. Moala Politini

Position within the company

Executive

Country of Birth

Fiji

Nationality

Fijian

Can fluently speak

English

 

Name

Mr. Stlvain Finau

Position within the company

Director

Country of Birth

Fiji

Nationality

Fijian

Can fluently speak

English

 

Name

Mr.
 Isireli Ngamoki

Position within the company

Admin Manager

Country of Birth

Fiji

Nationality

Fijian

Can fluently speak

English

 

 

NEGATIVE INFORMATION

 

Litigation

 

Litigation

None Recorded

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Na

 

 

PAYMENT INFORMATION

 

Export/Import ( Countries, goods and total values for the period)

 

Imports From

UK, China, India

Importing Terms

Letters of Credit

Import % and type of product

40%- Finished Goods

 

Exports To

-

Exporting Terms

-

Export % and type of product

-

 

Remarks on Payment

Remarks on Payment

No Complaints

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Subsidiaries and Participation

 

Parent Company

-

Subsidiaries

-

Affiliates

-

 

 

FINANCIAL INFORMATION

 

Financial Information

 

It declined it.

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Changes in Registration Data

 

None recorded

 

 

Activities ( realistic and officials)

 

It is involved in retails with their chain stores under the Rups Big Bear banner. Manufacturing of furniture.

 

Staff

 

Number of staff employed

 

280

 

 

Facilities

 

Owned

Office,Showroom, Factory

Premises Size

-

 

 

Branches

 

Offices

 

 

 

Bankers

 

Bank

National Bank of Fiji

Branch

-

Address

-

Telephone

-

 

 

NOTES & COMMENTS

 

Reporter Comments

 

Comments

In the interview conducted with Mr.
 Isireli Ngamoki
, he refused to

cooperate with us.

 

Local Reputation

The company being investigated is believed by local reporters to 

be a  Medium Trade Risk and to be secured.

 

Owner/Shareholders Comments

All or most of the owners / shareholders have an active participation 

in the running of  the business.

 

Age of Business

Old Business

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.25

UK Pound

1

Rs.101.92

Euro

1

Rs.80.70

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.