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Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RACHNA RIVAZ LTD |
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Registered Office : |
R-11 Columbia Court, Opp. SBI (MAU) LTD, St. Jean Road, Quatre Bornes |
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Country : |
Mauritius |
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Date of Incorporation : |
11.08.2009 |
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Com. Reg. No.: |
C089851 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributor of garments, textiles and clothing |
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No of Employees : |
25 employees |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
SUBJECT'S NAME |
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Registered Name: |
RACHNA RIVAZ LTD |
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Requested Name: |
RACHNA RIVAZ LTD |
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Other Names: |
None |
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ADDRESS AND TELECOMMUNICATION |
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Physical Address: |
R-11
columbia Court, Opp. SBI (MAU) LTD, St. Jean Road, |
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Quatre
Bornes, |
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Country: |
Mauritius |
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Phone: |
230-4658942 |
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Fax: |
230-7665690 |
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Email: |
info@rachnarivaz.com/samitgupta@yahoo.com |
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Website: |
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CREDIT OPINION |
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Financial Index as of
December 2013 shows subject firm with a medium risk of credit. However, bank and
credit information obtained reveal a history of prompt payments. |
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LEGAL |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
11-Aug-2009 |
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Reg. Number: |
C089851 |
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Nominal Capital |
MUR.
500,000 |
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Subscribed Capital |
MUR.
500,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. S.Gupta |
MD |
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Mrs. R. Gupta |
Director |
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RELATED COMPANIES |
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS |
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Registered to operate as
distributors of garments, textiles and clothing |
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
General Public |
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Employees: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Mauritius |
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Location: |
Leased premises, 5,000 square feet, |
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AUDITORS AND INSURANCE |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE |
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Currency Reported: |
Mauritius Rupee (MUR.) |
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Approx. Ex. Rate: |
1 US Dollar = 30.17
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 not
Submitted |
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Profit and Loss
(expressed in MUR.) |
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2013 |
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Sales |
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12,000,000 |
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BANK |
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Bank Name: |
MCB
BANK |
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Branch: |
Mauritius |
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Comments: |
None |
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TRADE
REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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COMMENTS / ADDITIONAL INFORMATION |
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.58 |
|
|
1 |
Rs. 98.66 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.