|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE TRADE AID COMPANY |
|
|
|
|
Registered Office : |
C/o International Management (Mauritius) Ltd 3eme etage, Immediate to Les Cascade, Edith Cavell Street, Port Louis, |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Date of Incorporation : |
07.08.2012 |
|
|
|
|
Com. Reg. No.: |
C111552 |
|
|
|
|
Legal Form : |
Global Business Category 2 |
|
|
|
|
Line of Business : |
Consultancy
firm |
|
|
|
|
No. of Employees : |
01 |
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 |
|
Status : |
Global
Business Category 2 |
|
Payment Behaviour : |
Unknown |
|
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Mauritius |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
|
|
Registered Name: |
THE TRADE AID
COMPANY |
|
Requested Name: |
THE TRADE AID
COMPANY |
|
Other Names: |
None |
|
Physical Address: |
C/o International Management (Mauritius) Ltd 3eme etage, Immediate to
Les Cascade, Edith Cavell Street, |
|
|
Port Louis, |
|
Country: |
Mauritius |
|
Phone: |
230-2129800 |
|
Fax: |
230-2129800 |
|
Email: |
None |
|
Website: |
None |
|
Legal Form: |
GLOBAL BUSINESS CATEGORY 2 |
|
|
Date Incorporated: |
07-Aug-2012 |
|
|
Reg. Number: |
C111552 |
|
|
Nominal Capital |
MUR. 100,000 |
|
|
Subscribed Capital |
MUR. 100,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Undisclosed |
Directors |
|
|
International Management (Mauritius) Ltd |
Trustee/Agent |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject firm. |
|
None |
Branches of the firm |
|
___________________________________________________________________________ |
|
|
Consultancy firm |
|
|
Imports: |
None |
|
Exports: |
None |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
1 employee. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Mauritius |
|
Location: |
Rented premises, 5,000 square feet, |
|
Auditors: |
Information not available. |
|
Insurance Brokers: |
Information not available. |
|
Currency Reported: |
Mauritius Rupee (MUR.) |
|
Approx. Ex. Rate: |
1 US Dollar = 31.36 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 |
|
|
Bank Name: |
Barclays Bank |
|
Branch: |
Mauritius |
|
Comments: |
None |
|
This
information was obtained from outside sources other than the subject company
itself . A Global Business
Category 2 (GBL2) is a private company which conducts business with persons
all of whom are resident outside Mauritius and in a currency other than the
Mauritian rupee. A GBL2 provides for greater flexibility and is a suitable
vehicle for holding and managing private assets. It is a
tax exempt company therefore has no access the network of Double Taxation
Agreements of Mauritius. It cannot carry out business of company formation,
administration and management or provide professional nominee or trusteeship
services. It is furthermore prevented from raising capital from the public
and offer of provide financial services or other services as fiduciary in any
investment fund or any collective investment scheme. A GBL2 may be locally
incorporated or registered as a branch of a foreign company. Confidentiality
is strictly observed in terms of the 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. The identity
of the beneficial owner needs to be disclosed only to the registered agent
and to the banker if a bank account is required in Mauritius. The kept by the
Registrar of Companies may only be inspected by the shareholders of the
company. The
company is incorporated with an agent who is also the legal officer who
represents the company. It is
difficult to investigate due to the Mauritius regulations protecting the non
disclosure of the name of the shareholders. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.