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Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ADVANTA SEED
INTERNATIONAL |
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Registered Office : |
C/O. Multi Consult Les
Cascades, |
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Country : |
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Date of Incorporation : |
25.07.2007 |
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Com. Reg. No.: |
C073088 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
Subject operate as a Consultancy Firm |
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No of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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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 |
Registered Name: ADVANTA SEED INTERNATIONAL
Requested Name: ADVANTA
SEED INTERNATIONALC/O MULTI CONSULTLESS
Other Names: None
Physical Address: Rogers House 5 President John
Kennedy Street, Port Louis
Registered Address: C/O. Multi Consult Les Cascades, Edith Cavell
Street, Port-Louis
Postal Address: P. o. Box 60
Port Louis,
Country: Mauritius
Phone: 230-2023000
Fax: 230-2125265
Email: None
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 25-July-2007
Reg. Number: C073088
Nominal Capital MUR. 10,000
Subscribed Capital MUR. 10,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Undisclosed Directors
MULTICONSULT
LIMITED Trustee
ADVANTA INDIA
LIMITED Holding Co.
ADVANTA INDIA LIMITED Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as a consultancy firm
Imports: None
Exports: None
Trademarks: None
Terms of sale: None
Stated
Main Customers: None
Stated
Employees: 3
employees.
Vehicles: None
Stated
Territory of
sales: Mauritius
Location: Undisclosed
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 30.20 Mauritius Rupee
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 Submitted MUR.
Undisclosed
Bank Name: BARCLAYS BANK
Branch: Port
Louis, Mauritius
Comments: None
Experiences: None Stated
None
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.
Nevertheless our sources were able to know that the shareholders of
company are businesses from India as named above.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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Report Prepared
by : |
MNL |
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.