|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MATRIX IMPEX LTD |
|
|
|
|
Registered Office : |
3.4, Cybercity, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
24.02.2010 |
|
|
|
|
Com. Reg. No.: |
C093512 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
manufacturers and suppliers of Textiles, Bottle Caps, Commodities & Food Items |
|
|
|
|
No of Employees : |
65 |
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: MATRIX IMPEX LTD
Requested Name: MATRIX
IMPEX LTD
Other Names: None
Physical Address: 3.4, Cybercity, Ebene Heights,
Ebene
Country: Mauritius
Phone: 230-4034441
Fax: 230-4034441
Email: None
Website: None
Financial Index
as of December 2013 shows subject firm with a medium risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 24-Feb-2010
Reg. Number: C093512
Nominal Capital MUR. 100,000
Subscribed Capital MUR. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Bharat Mehta Director
Mr. Mahendra Mehta Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as manufacturers
and suppliers of Textiles, Bottle
Caps, Commodities & Food Items
Imports: Asia,
Middle East
Exports: South
South Africa
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Distributors,
firms and organizations
Employees: 65
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mauritius
Location: Leased
premises, 100,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 29.93 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 not Submitted
Profit and Loss (expressed in MUR.)
2013
Sales 35,000,000
Bank Name: MCB
Branch: Mauritius
Comments: None
Experiences: Good
None
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.60.19 |
|
UK Pound |
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.