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Report No. : |
323052 |
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Report Date : |
20.05.2015 |
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. |
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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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None |
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 : |
TPT |
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.