MIRA INFORM REPORT

 

 

Report No. :

304053

Report Date :

03.02.2015

 

 

IDENTIFICATION DETAILS

 

Name :

NAND PERSAUD & CO LTD

 

 

Registered Office :

#36 Village, Corentyne, Berbice

 

 

Country :

Guyana

 

 

Date of Incorporation :

1992

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Producer and exporter of rice

 

 

No. of Employee :

150

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Guyana

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GUYANA ECONOMIC OVERVIEW

 

The Guyanese economy exhibited moderate economic growth in recent years and is based largely on agriculture and extractive industries. The economy is heavily dependent upon the export of six commodities - sugar, gold, bauxite, shrimp, timber, and rice - which represent nearly 60% of the country's GDP and are highly susceptible to adverse weather conditions and fluctuations in commodity prices. Guyana's entrance into the Caricom Single Market and Economy (CSME) in January 2006 has broadened the country's export market, primarily in the raw materials sector. Guyana has experienced positive growth almost every year over the past decade. Inflation has been kept under control. Recent years have seen the government's stock of debt reduced significantly - with external debt now less than half of what it was in the early 1990s. Chronic problems include a shortage of skilled labor and a deficient infrastructure. Despite recent improvements, the government is still juggling a sizable external debt against the need for expanded public investment. In March 2007, the Inter-American Development Bank, Guyana's principal donor, canceled Guyana's nearly $470 million debt, equivalent to 21% of GDP, which along with other Highly Indebted Poor Country (HIPC) debt forgiveness brought the debt-to-GDP ratio down from 183% in 2006 to 60% in 2013. Guyana had become heavily indebted as a result of the inward-looking, state-led development model pursued in the 1970s and 1980s. Much of Guyana's growth in recent years has come from a surge in gold production in response to global prices, although downward trends in gold prices may threaten future growth. In 2013, production of sugar dropped to a 23-year low.

 

Source : CIA

 

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

IDENTIFICATION

Ordered as:

NAND PERSAUD & COMPANY LTD

Address in the order:

# 36, Village, Corentny Berbice Guyana

 

 

Legal Name:

NAND PERSAUD & CO LTD

Legal Address

#36 Village, Corentyne,

Postal Town

Berbice

Post Code

N.A.

Primary Geographic Area

N.A.

Country

GY

Location Status

Headquarters,Single Location,Legal Address,

Operative Address

#36 Village, Corentyne, Berbice, Guyana

Telephone:

(592) 325-3563, 325-3564

Registration Number :

N.A.

Fax:

N.A.

Legal Form:

Limited Company

Email:

mohin@karibeerice.com

Registered in:

GY

Website:

www.karibeerice.com

Date Created:

1992

MANAGERS:

Mohindra Persaud - General Manager

Date Incorporated:

N.A.

Staff:

150

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Producer and exporter of rice

 

 

DIRECTORS/MANAGEMENT

 

Management:

 

Mohindra Persaud, General Manager

Ragindra, Director

 

 

NEGATIVE INFORMATION

 

Legal Filings

 The sources consulted record no detrimental legal or labor court information.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is privately held. Despite our long searches, we could not identify the shareholders.

The person contacted refused to provide this information on grounds of confidentiality.

 

 

PAYMENT INFORMATION

 

Sales are:

 

Wholesale

Brands:

 

Karibee, Crown and Naisa.

Clients:

 

Private rice farmers, supermarkets

Suppliers:

 

OZGUR TRAKTOR YEDEK PARCA SAN (not verified)

Among others.

PAYMENTS

 

regular

 

DEBT COLLECTIONS AND PAYMENTS

Public

NO

Payments

UNKNOWN

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIALS - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Mohindra Persaud, General Manager, who refused to provide us any financial data on grounds of confidentiality and without knowing the name of the inquiring party.

Comments on the financial data: As of today, no financial data or credit history is available through public sources at this time.

 

 

FINANCIAL SUMMARY

Profitability

N.A.

Indebtedness

CONTROLLED

Cash

NORMAL

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

GEOPOLITICS - GUYANA

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic
Economic Risk: Present

Currency: 100 GYD = 0.48 USD
Branch Situation: Stable

 

 

BANKS

Name of the Bank

GBTI

Account Number

Confidential

Comments

This information was not verified by the company.

 

HISTORY                                                 BUSINESS

 

The company has been operating since 1992.

PRINCIPAL ACTIVITY

 

The subject company is producer and exporter of rice.

Products/Services description:

 

Rice.

 

Operations area:

 

National, International, Local

The company exports to Caribbean, Europe, North and South America.

The subject employs 150 employee(s)

Comments on staff:

 

This information was not verified by the company.

 

LOCATION

Headquarters

 

#36 Village Corentyne, Berbice, Guyana

Comments on location:

 

The administrative office and operations of the company can be found at the above listed address.

Branches:

 

No branches were reported.

 

 

NOTES & COMMENTS

 

 

 Final Opinion

 

The company has 23 years of experience.

 

They have the support of 150 employees for this reason it is considered a medium sized company.

 

The company is producer and exporter of rice.

 

The company also deals with a well-known bank in Guyana.

 

However, no financial data or credit history is available through public sources at this time.

 

Also, our searches revealed that the payments are regular.

 

There were no legal filings found against the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.88

UK Pound

1

Rs.93.27

Euro

1

Rs.69.94

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.