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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
METMIN INVESTMENTS HOLDINGS LTD |
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|
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Registered Office : |
C/o
Abax Corporate Service Ltd, 6th Floor, Tower A, 1 Cybercity Ebene |
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Country : |
Mauritius |
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Date of Incorporation : |
11.04.1995 |
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Com. Reg. No.: |
C14487 |
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Legal Form : |
Global Business Category
1 |
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Line of Business : |
Not Available |
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|
|
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No. of Employees |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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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 |
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Registered Name: |
METMIN
INVESTMENTS HOLDINGS LTD |
|
Requested Name: |
METMIN INVESTMENTS HOLDINGS LTD |
|
Other Names: |
None |
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Physical Address: |
C/o
Abax Corporate Service Ltd, 6th
Floor, Tower A, 1 Cybercity Ebene |
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Postal Address: |
P.
o. Box |
|
|
Ebene |
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Country: |
Mauritius |
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Phone: |
230-4036000 |
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Fax: |
230-4036060 |
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Email: |
Info@abaxservices.com |
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Website: |
www.abaxservices.com |
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In the absence of a
payment pattern and financial information, |
|
Legal Form: |
GLOBAL BUSINESS CATEGORY
1 |
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Date Incorporated: |
C14487 |
|
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Reg. Number: |
11/04/1995 |
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Nominal Capital |
MUR.
100,000 |
|
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Subscribed Capital |
MUR.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Undisclosed |
Directors |
|
|
Abax
Corporate Service Ltd |
Trustee/Agent |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Consultancy firm |
|
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Imports: |
Undisclosed |
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Exports: |
Undisclosed |
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Trademarks: |
Undisclosed |
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Terms of sale: |
Undisclosed |
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|
|
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Main Customers: |
Undisclosed |
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Employees: |
3 employees. |
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Vehicles: |
Undisclosed |
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Territory of sales: |
Mauritius |
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Location: |
Undisclosed |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Mauritius Rupee (MUR.) |
|
Approx. Ex. Rate: |
1 US Dollar = 30.09
Mauritius Rupee |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
|
|
|
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Financial Information
Submitted |
MUR. |
|
|
Undisclosed |
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Bank Name: |
MCB |
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Branch: |
Mauritius |
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Comments: |
None |
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This information was
obtained from outside sources other than the subject company itself . A lobal 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 and where business is conducted in a currency other than
the Mauritian rupee. 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.47 |
|
|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.