|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
POLYTOL PAINTS ADHESIVES MAN CO.LTD |
|
|
|
|
Registered Office : |
93,
|
|
|
|
|
Country : |
Mauritius
|
|
|
|
|
Date of Incorporation : |
21.09.1993 |
|
|
|
|
Com. Reg. No.: |
C11822 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Subject operate as
manufacturer and distributor of automotive refinishes, wood coatings, enamels,
decorative paints |
|
|
|
|
No of Employees : |
50 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Mauritius has achieved steady and strong growth over the last
several decades, resulting 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 2010-13, and the country continues to expand its trade and
investment outreach around the globe.
|
Source
: CIA |
Company Name
|
|
|||
|
Registered Name: |
POLYTOL PAINTS
ADHESIVES MAN CO.LTD |
|||
|
Requested Name: |
POLYTOL PAINTS ADHESIVES MAN CO.LTD |
|||
|
Other Names: |
None |
|||
|
|
||||
ADDRESS AND TELECOMMUNICATION
|
||||
|
Physical Address: |
93,
Royal Street, Port Louis |
|||
|
Postal Address: |
P.
o. Box |
|||
|
|
Port
Louis |
|||
|
Country: |
Mauritius |
|||
|
Phone: |
230-2488204/2491299/2491499 |
|||
|
Fax: |
230-2483988/2170757 |
|||
|
Email: |
sohawon@intnet.mu/info@polytolpaints.com |
|||
|
Website: |
None |
|||
|
|
||||
CREDIT OPINION
|
||||
|
Financial Index as of December
2013 shows subject firm with a medium risk of credit. |
||||
|
|
||||
LEGAL
|
|
|||
|
Legal Form: |
Limited Corporation |
|||
|
Date Incorporated: |
21-Sept-1993 |
|||
|
Reg. Number: |
C11822 |
|||
|
Nominal Capital |
|
|||
|
Subscribed Capital |
|
|||
|
Subscribed Capital is Subscribed in the following form: |
||||
|
|
Position |
Shares |
||
|
Mr. Tariq Sohawon |
MD |
|
||
|
Mrs. Nadio Sohowan |
Director |
|
||
|
|
||||
RELATED COMPANIES
|
||||
|
None |
Parent company. |
|||
|
None |
Subsidiary company. |
|||
|
None |
Affiliated company. |
|||
|
None |
Shareholder of subject
firm. |
|||
|
None |
Branches of the firm |
|||
|
|
||||
OPERATIONS
|
||||
|
Registered to operate as manufacturer
and distributor of automotive refinishes, wood coatings, enamels, decorative
paints |
||||
|
Imports: |
|
|||
|
Exports: |
None |
|||
|
Trademarks: |
None |
|||
|
Terms of sale: |
Cash (80%) and 25-90 days (20%), invoices. |
|||
|
|
|
|||
|
Main Customers: |
firms and organizations |
|||
|
Employees: |
50 employees. |
|||
|
Vehicles: |
Several motor vehicles. |
|||
|
Territory of sales: |
|
|||
|
Location: |
Leased premises, 10,000 square feet, |
|||
|
|
||||
AUDITORS AND INSURANCE
|
||||
|
Auditors: |
Information not
available. |
|||
|
Insurance Brokers: |
Information not
available. |
|||
|
|
||||
FINANCE
|
|
|||
|
Currency Reported: |
|
|||
|
Approx. Ex. Rate: |
1 US Dollar = 30.75 |
|||
|
Fiscal Year End: |
December 31, 2013 |
|||
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
|||
|
|
||||
|
Financial Information not
Submitted |
|
|||
|
|
|
|||
|
Profit and Loss
(expressed in |
||||
|
|
|
2013 |
||
|
Sales |
|
225,650,000 |
||
|
|
||||
BANK
|
|
|||
|
Bank Name: |
Indian
Ocean International Bank |
|||
|
Branch: |
|
|||
|
Comments: |
None |
|||
|
|
||||
TRADE REFERENCES
|
||||
|
Experiences: |
Good |
|||
|
|
||||
NOTARIAL BONDS
None |
||||
|
|
||||
COMMENTS / ADDITIONAL
INFORMATION
|
||||
|
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.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
POLYTOL PAINTS ADHESIVES MAN CO.LTD |
|
|
|
|
Registered Office : |
93,
|
|
|
|
|
Country : |
Mauritius
|
|
|
|
|
Date of Incorporation : |
21.09.1993 |
|
|
|
|
Com. Reg. No.: |
C11822 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Subject operate as manufacturer
and distributor of automotive refinishes, wood coatings, enamels, decorative
paints |
|
|
|
|
No of Employees : |
50 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Mauritius has achieved steady and strong growth over the last
several decades, resulting 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 2010-13, and the country continues to expand its trade and
investment outreach around the globe.
|
Source
: CIA |
Company Name
|
|
|||
|
Registered Name: |
POLYTOL PAINTS
ADHESIVES MAN CO.LTD |
|||
|
Requested Name: |
POLYTOL PAINTS ADHESIVES MAN CO.LTD |
|||
|
Other Names: |
None |
|||
|
|
||||
ADDRESS AND TELECOMMUNICATION
|
||||
|
Physical Address: |
93,
Royal Street, Port Louis |
|||
|
Postal Address: |
P.
o. Box |
|||
|
|
Port
Louis |
|||
|
Country: |
Mauritius |
|||
|
Phone: |
230-2488204/2491299/2491499 |
|||
|
Fax: |
230-2483988/2170757 |
|||
|
Email: |
sohawon@intnet.mu/info@polytolpaints.com |
|||
|
Website: |
None |
|||
|
|
||||
CREDIT OPINION
|
||||
|
Financial Index as of
December 2013 shows subject firm with a medium risk of credit. |
||||
|
|
||||
LEGAL
|
|
|||
|
Legal Form: |
Limited Corporation |
|||
|
Date Incorporated: |
21-Sept-1993 |
|||
|
Reg. Number: |
C11822 |
|||
|
Nominal Capital |
|
|||
|
Subscribed Capital |
|
|||
|
Subscribed Capital is Subscribed in the following form: |
||||
|
|
Position |
Shares |
||
|
Mr. Tariq Sohawon |
MD |
|
||
|
Mrs. Nadio Sohowan |
Director |
|
||
|
|
||||
RELATED COMPANIES
|
||||
|
None |
Parent company. |
|||
|
None |
Subsidiary company. |
|||
|
None |
Affiliated company. |
|||
|
None |
Shareholder of subject
firm. |
|||
|
None |
Branches of the firm |
|||
|
|
||||
OPERATIONS
|
||||
|
Registered to operate as manufacturer
and distributor of automotive refinishes, wood coatings, enamels, decorative
paints |
||||
|
Imports: |
|
|||
|
Exports: |
None |
|||
|
Trademarks: |
None |
|||
|
Terms of sale: |
Cash (80%) and 25-90 days (20%), invoices. |
|||
|
|
|
|||
|
Main Customers: |
firms and organizations |
|||
|
Employees: |
50 employees. |
|||
|
Vehicles: |
Several motor vehicles. |
|||
|
Territory of sales: |
|
|||
|
Location: |
Leased premises, 10,000 square feet, |
|||
|
|
||||
AUDITORS AND INSURANCE
|
||||
|
Auditors: |
Information not
available. |
|||
|
Insurance Brokers: |
Information not
available. |
|||
|
|
||||
FINANCE
|
|
|||
|
Currency Reported: |
|
|||
|
Approx. Ex. Rate: |
1 US Dollar = 30.75 |
|||
|
Fiscal Year End: |
December 31, 2013 |
|||
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
|||
|
|
||||
|
Financial Information not
Submitted |
|
|||
|
|
|
|||
|
Profit and Loss
(expressed in |
||||
|
|
|
2013 |
||
|
Sales |
|
225,650,000 |
||
|
|
||||
BANK
|
|
|||
|
Bank Name: |
Indian
Ocean International Bank |
|||
|
Branch: |
|
|||
|
Comments: |
None |
|||
|
|
||||
TRADE REFERENCES
|
||||
|
Experiences: |
Good |
|||
|
|
||||
NOTARIAL BONDS
None |
||||
|
|
||||
COMMENTS / ADDITIONAL
INFORMATION
|
||||
|
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.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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%)