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Report No. : |
345819 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MATIX FERTILISERS HOLDINGS LTD |
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Registered Office : |
Hennessy
Court, 7th Floor, Office Number 7025, Pope Hennessy Street, Port Louis |
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Country : |
Mauritius
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Date of Incorporation : |
15.01.2008 |
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Com. Reg. No.: |
C076973 |
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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 : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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.
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Source
: CIA |
Company
Name
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Registered Name: |
MATIX
FERTILISERS HOLDINGS LTD |
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Requested Name: |
MATIX FERTILISERS HOLDING LTD |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Hennessy
Court, 7th Floor, Office Number 7025, Pope Hennessy Street, |
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Port
Louis |
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Country: |
Mauritius |
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Phone: |
230-2115888 |
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Fax: |
230-2111550 |
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Email: |
admin@crossinvestmauritius.com |
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Website: |
www.crossinvestmauritius.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: |
15-Jan-2008 |
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Reg. Number: |
C076973 |
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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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Crossinvest Global Management Services 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: |
None Stated |
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Exports: |
None Stated |
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Trademarks: |
None Stated |
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Terms of sale: |
None Stated |
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Main Customers: |
firms and organizations |
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Employees: |
2 employees. |
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Vehicles: |
None Stated |
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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 = 35.29 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 Busines 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. This company is located
in the Mauritius Islands only for taxes purposes; it was difficult to
investigate due to the Mauritius regulations protecting the non-disclosure of
the name of the shareholders. The company is
incorporated with an agent who is also the legal officer who represents the
company. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.55 |
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Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.