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Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MIS PRODUCTS LIMITED |
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Registered Office : |
Block D, Princess Royal Ave, Pine, Bridgetown, PO Box 335, Saint Michael |
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Country : |
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Year of Establishments: |
1980 |
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Com. Reg. No.: |
7372 |
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Legal Form : |
Limited Company |
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Line of Business : |
engaged in the processing, packaging and
commercialization of foods and flavoring products. Subject products ranges include Cereals, flours spices, seasonings,
herbs, browning and essences. |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
Barbados ECONOMIC OVERVIEW
Barbados is the
wealthiest and most developed country in the Eastern Caribbean and enjoys one of
the highest per capita incomes in Latin America. Historically, the Barbadian
economy was dependent on sugarcane cultivation and related activities. However,
in recent years the economy has diversified into light industry and tourism
with about four-fifths of GDP and of exports being attributed to services.
Offshore finance and information services are important foreign exchange
earners and thrive from having the same time zone as eastern US financial
centers and a relatively highly educated workforce. Barbados' tourism,
financial services, and construction industries have been hard hit since the
onset of the global economic crisis in 2008, which caused the economy to
contract 4% in 2009 and grow below 1% annually since 2010. Barbados' public
debt-to-GDP ratio rose from 56% in 2008 to 83% in 2012.
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Source : CIA |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Commonwealth Realm - Parliamentary system
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Currency: Barbados (BBD) 100(BBD)=50.00(USD) |
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Legal Name: |
MIS PRODUCTS LIMITED |
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Legal Address |
Block D, Princess Royal Ave, Pine, |
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Postal Town |
Bridgetown |
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Post Code |
PO Box 335 |
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Primary Geographic Area |
Saint Michael |
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Country |
BB |
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Location Status |
Headquarters, Single Location, Legal Address, |
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Operative Address |
Block D, Princess Royal Ave, Pine, Bridgetown, Saint Michael, Barbados
BB 1100 |
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Telephone: |
+1246-429-4689/246-435-2538 |
Registration Number : |
7372 |
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Fax: |
+1 246 228 2396/246-232-5654 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
BB |
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Website: |
Date Created: |
1980 |
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Manager: |
David Pilgrim |
Date Incorporated: |
September 30, 1991 |
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Staff: |
35 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
The company engages in the processing, packaging and commercialization
of foods and flavoring products. |
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Name of the Bank |
RBC Royal Bank |
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Location |
Barbados |
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Comments |
This information could not be verified with the subject company. |
HISTORY
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Company incorporated on September 30, 1991, in Barbados. |
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PRINCIPAL ACTIVITY |
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The company engages in the processing, packaging
and commercialization of foods and flavoring products. |
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Products/Services description: |
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Cereals, flours spices, seasonings, herbs, browning and essences. |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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MIS |
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Clients: |
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Supermarkets, retailers, wholesalers, distributors, etc. |
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Suppliers: |
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The person contacted refused to provide us with this information as it
is considered as confidential. Through export and import directories we could find the following: EVERGREEN EXPORTS (India) |
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Operations area: |
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National, International, Local. |
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The company imports from Europe, Singapore, USA, Canada, and the
Caribbean. |
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The company exports to the Caribbean. |
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The subject employs 35 employee(s). |
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Comments on staff: |
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The amount of employees was not provided by the contact. We obtained
an estimate using third sources. |
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PAYMENTS |
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No Complaints |
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LOCATION |
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Headquarters |
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Block D, Princess Royal Ave, Pine, Bridgetown, Saint Michael, Barbados
BB 1100 |
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Comments on location: |
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Divided in administrative offices, processing area and warehouse. |
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Branches: |
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We found no branches for the company. |
Manager - Related
Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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Pilgrim Family |
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Management: |
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David Pilgrim: Managing Director |
COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted David Pilgrim, Managing Director, who refused
to provide us any financial data on grounds of confidentiality/without knowing
the name of the inquiring party. |
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Comments on the financial data: Despite our
long searches and the contact with the company we could not get financial
information for 2012 or 2013. |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
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Local credit bureau gave a normal credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final
Opinion |
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The company has 34 years of experience. The company engages in the processing,
packaging and commercialization of foods and flavoring products. They currently have 35 employees, for
which it is considered a small size company. It has bank accounts with a well known
bank and has commercial relations with foreign suppliers. No legal filings have been found against
it. Also it commercializes renowned brands in
the industry. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
No Complaints |
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Cash |
NORMAL |
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Person Interviewed |
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David Pilgrim |
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Position |
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Managing Director |
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Comments |
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He refused to provide information about the company due to
confidentiality. The information in this report was obtained using third sources. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.68 |
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UK Pound |
1 |
Rs.101.98 |
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Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.