MIRA INFORM REPORT
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Report No. : |
337252 |
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Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SUCHEM LTD |
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Registered Office : |
Allee Des Manguiers Pailles |
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Country : |
Mauritius |
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Financials (as on) : |
30.09.2014 (Group) |
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Date of Incorporation : |
27.01.1989 |
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Com. Reg. No.: |
C7602 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as suppliers of
industrial and agro chemicals |
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No. of Employee : |
27 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Mauritius |
A2 |
A2 |
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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 |
MAURITIUS ECONOMIC OVERVIEW
Since independence in 1968, Mauritius has undergone a remarkable economic transformation from a low-income, agriculturally based economy to a diversified, upper middle-income economy with growing industrial, financial, and tourist sectors. Mauritius has achieved steady 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’ textile sector has taken advantage of the Africa Growth and Opportunity Act, with Mauritian exports to the US growing by 400% from 2001-2012. 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 2010-14, and the country continues to expand its trade and investment outreach around the globe.
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Source
: CIA |
Company
NAME
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Registered Name: |
SUCHEM LTD |
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Requested Name: |
SUCHEM LTD |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Allee
Des Manguiers |
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Pailles |
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Country: |
Mauritius |
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Phone: |
230-2711800 |
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Fax: |
230-2087092 |
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Email: |
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Website: |
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CREDIT
OPINION
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Financial Index as of
December 2014 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
27-Jan-1989 |
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Reg. Number: |
C7602 |
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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 |
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Mr.
Antoine L. Harel |
Chairman |
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Mr.
Charles P. L. Harel |
CEO |
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Mr.
Michel Pilot |
MD |
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Mrs.
Anne Christine Levigne-Fletcher |
Director |
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Mr.
Anwar A.H. Moollan |
Director |
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Mr. Dean Ah-Chuen |
Director |
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Mr.
Frederic G. Tyack |
Director |
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Mr.
L.J. Jerome De Chasteauneuf |
Director |
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Mr.
Michel Rivalland |
Director |
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Mr.
R.J. Paul Clarenc |
Director |
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Harel Mallac & Co Ltd |
Holding
Co. |
100% |
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RELATED
COMPANIES
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Harel Mallac & Co Ltd |
Parent company. |
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None |
Subsidiary company. |
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Listed Below |
Affiliated companies. |
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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
suppliers of industrial and agro chemicals |
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Imports: |
Asia, Middle Easr |
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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: |
Industries, firms and organizations |
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Employees: |
27 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Mauritius |
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Location: |
Rented premises, 10,000 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 = 35.41
Mauritius Rupee |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Group Financial
Information Submitted |
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BANK
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Bank Name: |
Barclays
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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AFFILIATED COMPANIES
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ACTIVELINE LTD |
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ARCHEMICS LTD |
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BUREAUTIC SERVICES SAS |
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BYCHEMEX LIMITED |
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CHEMCO LIMITED |
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CLIMAPRO LTEE |
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COOLKOTE ENTERPRISES LTD |
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CYBERYDER LTD |
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COMPAGNIE DES MAGASINS POPULAIRES LIMITEE |
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DISTRISOFT LTD |
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EDITH ENTERPRISES LTD |
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FONDATION HAREL MALLAC LTD |
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HAMAC EXPORT SERVICES LTD |
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HAREL MALLAC AVIATION LTD |
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HAREL MALLAC BUREAUTIQUE LTD |
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HAREL MALLAC DISTRIBUTION SARL |
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HAREL MALLAC TECHNOLOGIES |
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HAREL MALLAC INTERNATIONAL LTD |
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HAREL MALLAC LEASING LTD |
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HAREL MALLAC OUTSOURCING LTD |
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HAREL MALLAC REPROGRAPHICS LTD |
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HAREL MALLAC (TANZANIA) LIMITED |
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HAREL MALLAC ENGINEERING LTD |
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HAREL MALLAC TRAINING INSTITUTE LTD |
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HAREL MALLAC TRAVEL & LEISURE LTD |
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H. M. COMMUNICATIONS LTD |
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HM ELECTRONICS LTD |
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H M FREEPORT LTD |
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HM SECRETARIES LTD |
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INDIALLEY LTD |
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INFOCOM SAS INFORMATICS BUSINESS SOLUTIONS LTD |
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INFOSYSTEMS BUSINESS TECHNOLOGIES SARL |
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LOGIMA LTEE |
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ORINUX (MAURITIUS) LTD |
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ORINUX (RWANDA) SARL |
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MAURITIUS COMPUTING SERVICES LIMITED |
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M.C.F.I. (FREEPORT) LIMITED |
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MCFI INTERNATIONAL (ZAMBIA) LTD |
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MCFI INTERNATIONAL & CO. LTD |
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MICIL LIMITEE |
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PHARMALLAC SARL PORTUS LTD |
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SOCIETE GARE DU NORD |
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SOCIETE SICAREX |
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STANDARD CONTINUOUS STATIONERY LIMITED |
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STRAFIN GLOBAL SERVICES LTD |
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TECHNO CITY LTD |
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THE MAURITIUS CHEMICAL AND FERTILIZER INDUSTRY LIMITED |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.25 |
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1 |
Rs.102.25 |
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Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.