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Report No. : |
341478 |
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Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
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Name : |
THE TRED AID COMPANY |
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Registered Office : |
C/O
International Management (Mauritius) Ltd
Les Cascades, Edith Cavell Street, Port
Louis |
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Country : |
Mauritius
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Date of Incorporation : |
17.01.2015 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Consultancy Firm |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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.
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: |
THE TRED AID
COMPANY |
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Requested Name: |
THE TRED AID COMPANY |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
C/O
International Management (Mauritius) Ltd
Les Cascades, Edith Cavell Street, |
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Port
Louis |
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Country: |
Mauritius |
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Phone: |
230-2129800 |
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Fax: |
230-2129800 |
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Email: |
None |
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Website: |
None |
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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: |
Limited Corporation |
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Date Incorporated: |
17-Jan-2015 |
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Reg. Number: |
Mauritius |
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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 |
Director |
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International Management (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: |
None Stated |
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Exports: |
None Stated |
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Trademarks: |
None Stated |
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Terms of sale: |
Undisclosed |
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Main Customers: |
Undisclosed |
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Employees: |
1 employee. |
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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 =
35.31Mauritius Rupee |
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Projected Fiscal Year End:
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December 31, 2015 |
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Projected Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2015 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
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. We are having difficulty
in getting subject’s file at the Registrar of companies’ office. It should however be noted that at the
moment the office of the Registrar of companies is not very efficient and
hence are not properly maintained and files are missing. The Index at the Registrar of Companies is
not up to date. |
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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.65.97 |
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1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.37 |
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.