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Report Date : |
15.11.2014 |
IDENTIFICATION DETAILS
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Name : |
CHEMPLUS LIMITED |
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Registered Office : |
Old Railway Road, Auberge San Anton, Block B No. 2 |
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Country : |
Malta |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.07.2001 |
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Com. Reg. No.: |
C 28402 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of chemical products. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Malta |
B1 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MALTA - ECONOMIC
OVERVIEW
Malta - the smallest economy in the euro zone - produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between Europe and North Africa makes it a target for irregular migration, which has strained Malta's political and economic resources. Malta's fertility rate is below the EU average, and population growth in recent years has largely been from immigration, putting increasing pressure on the pension system. Malta adopted the euro on 1 January 2008. Malta's economy is dependent on foreign trade, manufacturing, and tourism, and was hurt by the global economic downturn, but fared better than most other EU member states. Malta has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. Malta's financial services industry has grown in recent years and it has avoided contagion from the European financial crisis, largely because its debt is mostly held domestically and its banks have low exposure to the sovereign debt of peripheral European countries. The EU reopened an excessive deficit procedure against Malta in June 2013, having found that its forecasted deficit for the year was likely to exceed 3% of GDP.
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Source
: CIA |
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Business address: |
Old Railway Road, Auberge San Anton, Block B No. 2 |
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PAYMENT HABITS: |
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No Complaints |
Comment:
A check against all available information sources revealed
that no late payment incidents against Subject Company exist.
Financial Strength:
Unable to comment
Given the fact that no recent detailed financial statements were released to
us, we feel unable to express a safe and reliable opinion on their
creditability, payment and Financial Strength.
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Registration status: 02.07.2001 - registered company
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Activities: |
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Importers & Wholesalers & Distributors |
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Operations: |
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NACE |
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emicals and allied products. |
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2013 |
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Number of cars |
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owned: 3 |
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Total
number of vehicles3 |
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LIBYAN ARAB JAMAHIRIYA |
The subject does not engage in any export activities.
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Address: |
Gallion's Street, Albertown |
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Type of premises: |
Warehouses , Warehouses |
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Address: |
Handaq Industrial Estate |
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Type of premises: |
Warehouses , Warehouses |
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Type of ownership: |
rented |
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Address: |
Old Railway Road, Auberge San
Anton, Block B No. 2 |
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Type of premises: |
Premises |
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Size: |
900 Sq. Metres |
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Type of ownership: |
rented |
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Branches: |
3 warehouses at 29,30,31
Gallions Street, Albert Town, Marsa which is an Industrialized Area in Malta. |
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Associated
Company |
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Bank of Valletta plc |
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12.11.2014, No press/media is available at present. |
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None
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CHEMPLUS LIMITED was established in 2001 in Malta under
the legal form of a Private Limited Liability Company. The Subject Company is
involved in the import and wholesale of various chemical products.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.65 |
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1 |
Rs.96.54 |
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Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SNT |
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.