|
Report No. : |
309147 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTER GLOBAL SERVICES LTD. |
|
|
|
|
Registered Office : |
St. Louise Business Center Cnr Desroches & St. Louis Streets, C/O Kross Border Trust Services Limited, St Louis Business Centre, Cnr Desroches & St Louis Street, Port Louis |
|
|
|
|
Country : |
Mauritius |
|
|
|
|
Date of Incorporation : |
12.10.2006 |
|
|
|
|
Com. Reg. No.: |
C066026 |
|
|
|
|
Legal Form : |
Global Business Category 1 |
|
|
|
|
Line of Business : |
Subject operate as
providers of turnkey projects for telecom mobile operators, supply of telecom
towers and shelters, supply of transmission line towers, pre-engineered metal
building systems for warehouses. |
|
|
|
|
No. of Employees : |
20 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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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) |
|
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 |
|
Registered Name: |
ASTER GLOBAL
SERVICES LTD. |
|
Requested Name: |
ASTER GLOBAL SERVICES LTD. |
|
Other Names: |
None |
|
Physical Address: |
St. Louise Business Center Cnr Desroches &
St. Louis Streets |
|
Postal Address: |
C/O Kross Border Trust Services Limited, St Louis Business Centre, Cnr
Desroches & St Louis Street |
|
|
Port
Louis |
|
Country: |
Mauritius |
|
Phone: |
230-2031100/9875419 |
|
Fax: |
230-2031150 |
|
Email: |
ibo@aster.in/info@aster.in |
|
Website: |
www.asteroverseas.com |
|
Legal Form: |
GLOBAL BUSINESS CATEGORY 1 |
|
|
Date Incorporated: |
12-Oct-2006 |
|
|
Reg. Number: |
C066026 |
|
|
Nominal Capital |
MUR.
100,000 |
|
|
Subscribed Capital |
MUR.
100,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Srinivasa Prasad |
Director |
|
|
Mr. Sheshadri Raman |
Director |
|
|
Mr. S. S. Sastry |
Director |
|
|
Mr. Raghunath Akasam |
Director |
|
|
Mr. Samir Ranjan Mohanty |
Manager |
|
|
Aster Private Limited, Hyderabad, India |
Holding
Co |
100% |
|
Aster Private Limited,
Hyderabad, India |
Parent company. |
|
None |
Subsidiary company. |
|
Aster Global Services
(Tanzania) Limited Aster Global Services
(Kenya) Limited Aster Global Services
(Cameroon) Limited Aster Infrastructure
Services Limited Nigeria |
Affiliated companies. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Registered to operate as
providers of turnkey projects for telecom mobile operators, supply of telecom
towers and shelters, supply of transmission line towers, pre-engineered metal
building systems for warehouses |
|
|
Imports: |
Middle East |
|
Exports: |
Asia |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
20 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Mauritius |
|
Location: |
Rented premises, 5,500 square feet, |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Mauritius Rupee (MUR.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 33.25
Mauritius Rupee |
|
|
Fiscal Year End: |
December 31, 2014 |
|
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
|
|
|
||
|
Financial Information not
Submitted |
|
|
|
|
|
|
|
Profit and Loss
(expressed in MUR.) |
||
|
|
|
2014 |
|
Sales |
|
250,000,000 |
|
Bank Name: |
Barclays Bank |
|
Branch: |
Mauritius |
|
Comments: |
None |
|
Experiences: |
Good |
|
None |
|
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. As defined under the
Financial Services Development Act 2001, a GBL1 is a company engaged in qualified
global business and which is carried on from within Mauritius with persons
all of whom are resident outside Mauritius and where business is conducted in
a currency other than the Mauritian rupee. It is the recommended structure
for individuals, body corporate, trust or partnership including limited
liability partnership or a société for investment and other high profile
business. A GBL1 may be locally incorporated or may be registered as a branch
of a foreign company. Public companies, those engaged in banking, insurance
and fund management, and companies wishing to benefit from the provisions of
Double Taxation Agreements (DTAs), can only be incorporated as GBL1
companies. Confidentiality is
strictly observed in terms of the Financial Services Development Act 2001(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. Upon application to the FSC, full disclosure is
required on the beneficial owners of the company. However, such information
is not available for public inspection. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.