MIRA INFORM REPORT

Report No. :	348929
Report Date :	06.11.2015

IDENTIFICATION DETAILS

Name :	PROFIT CIRCLE LTD
Registered Office :	Level 3, Alexander House, 35 Cybercity, Ebene
Country :	Mauritius
Date of Incorporation :	01.06.2011
Com. Reg. No.:	C103048
Legal Form :	Global Business Category 2
Line of Business :	Consultancy Firm
No. of Employees :	2 employees.

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Mauritius	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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.

Source : CIA

SUBJECT'S NAME
Registered Name:	PROFIT CIRCLE LTD
Requested Name:	PROFIT CIRCLE LIMITED
Other Names:	PROFIT CIRCLE LIMITED
ADDRESS AND TELECOMMUNICATION
Physical Address:	Level 3, Alexander House, 35 Cybercity
	Ebene
Country:	Mauritius
Phone:	230-4030800
Fax:	230-4030801
Email:	mauritius@intercontinentaltrust.com
Website:	www.intercontinentaltrust.com
CREDIT OPINION
In the absence of a payment pattern and financial information, we would recommend that all dealings with the subject be on a secured basis.
LEGAL
Legal Form:		GLOBAL BUSINESS CATEGORY 2
Date Incorporated:		01-June-2011
Reg. Number:		C103048
Nominal Capital		MUR. 100,000
Subscribed Capital		MUR. 100,000
Subscribed Capital is Subscribed in the following form:
		Position	Shares
Undisclosed		Directors
Intercontinental Trust Limited		Trustee/Agent
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Consultancy firm
Imports:		None Stated
Exports:		None Stated
Trademarks:		None Stated
Terms of sale:		Undisclosed
Main Customers:		Undisclosed
Employees:		2 employees.
Vehicles:		Undisclosed
Territory of sales:		Mauritius
Location:		Undisclosed
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Mauritius Rupee (MUR.)
Approx. Ex. Rate:		1 US Dollar = 35.20 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 Submitted		MUR.
		Undisclosed
BANK
Bank Name:		MCB
Branch:		Mauritius
Comments:		None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself . A Global Business Category 2 (GBL2) is a private company which conducts business with persons all of whom are resident outside Mauritius and in a currency other than the Mauritian rupee. A GBL2 provides for greater flexibility and is a suitable vehicle for holding and managing private assets. It is a tax exempt company therefore has no access the network of Double Taxation Agreements of Mauritius. It cannot carry out business of company formation, administration and management or provide professional nominee or trusteeship services. It is furthermore prevented from raising capital from the public and offer of provide financial services or other services as fiduciary in any investment fund or any collective investment scheme. A GBL2 may be locally incorporated or registered as a branch of a foreign company. Confidentiality is strictly observed in terms of the 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. The identity of the beneficial owner needs to be disclosed only to the registered agent and to the banker if a bank account is required in Mauritius. The kept by the Registrar of Companies may only be inspected by the shareholders of the company. The company is incorporated with an agent who is also the legal officer who represents the company. It is difficult to investigate due to the Mauritius regulations protecting the non disclosure of the name of the shareholders.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.67
UK Pound	1	Rs.101.02
Euro	1	Rs.71.35

INFORMATION DETAILS

Analysis Done by :	KRN
Report Prepared by :	TPT

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.