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Report No. : |
323052.2 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
STRAND DEVELOPERS MAURITIUS LIMITED |
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Registered Office : |
4th
Floor, Raffles Tower, 19 Cybercity, P. o. Box 72201, Ebene |
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Country : |
Mauritius
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Date of Incorporation : |
02.08.2007 |
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Com. Reg. No.: |
C073253 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
Consultancy Firm |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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 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: |
STRAND
DEVELOPERS MAURITIUS LIMITED |
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Requested Name: |
STRAND DEVELOPERS MAURITIUS LIMITED |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
4th
Floor, Raffles Tower, 19 Cybercity, |
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Postal Address: |
P.
o. Box 72201 |
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Ebene |
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Country: |
Mauritius |
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Phone: |
230-4048800 |
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Fax: |
230-4048899 |
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Email: |
rajmani@apex.mu |
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Website: |
www.apexfundservices.com |
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CREDIT
OPINION
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In the absence of a
payment pattern and financial information, we would recommend that all
dealings with the subject be on a secured basis.We recommend secured
transaction only. |
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LEGAL
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Legal Form: |
Global Business Category
1 |
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Date Incorporated: |
02-Aug-2007 |
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Reg. Number: |
C073253 |
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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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Undisclosed |
Directors |
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Apex Fund Services (Mauritius) Ltd |
Trustee/Agent |
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RELATED
COMPANIES
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None |
Parent company. |
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The Manri Stud Farm P Ltd |
Subsidiary company. |
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None |
Affiliated company. |
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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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Consultancy Firm |
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Imports: |
Undisclosed |
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Exports: |
Undisclosed |
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Trademarks: |
None |
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Terms of sale: |
Undisclosed |
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Main Customers: |
Undisclosed |
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Employees: |
2 employees. |
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Vehicles: |
Undisclosed |
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Territory of sales: |
Mauritius |
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Location: |
Undisclosed |
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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 = 34.94
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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Financial Information not
Submitted |
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BANK
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Bank Name: |
MCB
BANK |
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Branch: |
Mauritius |
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Comments: |
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. A Global Business Category 1(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. The company is
incorporated with an agent who is also the legal officer who represents the
company. |
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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.63.69 |
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1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.