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MIRA INFORM REPORT
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Report No. : |
487392 |
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Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PURE FIJI EXPORT LIMITED |
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Formerly Known As : |
SANDOLLARS FIJI LTD |
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Registered Office : |
52 Karsanji St., Vatuwaqa, Suva |
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Country : |
Fiji |
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Date of Incorporation : |
01.01.1995 |
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Com. Reg. No.: |
14450 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Perfumes and Toilet Preparations |
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No. of Employees : |
530 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Fiji |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
FIJI - ECONOMIC OVERVIEW
Fiji, endowed with forest, mineral, and fish resources, is one of the
most developed and connected of the Pacific island economies. Earnings from the
tourism industry, with an estimated 792,300 tourists visiting in 2016, and
remittances from Fijian’s working abroad are the country’s largest foreign
exchange earners.
Fiji's sugar sector remains a significant industry and a major export, but
crops and one of the sugar mills suffered damage during Cyclone Winston in
2016. The sector also faces the complete withdrawal of European Union
preferential prices in 2017. Fiji’s trade imbalance continues to widen with
increased imports and sluggish performance of domestic exports.
The return to parliamentary democracy and successful elections in
September 2014 improved investor confidence, but increasing bureaucratic
regulation, new taxes and lack of consultation with relevant stakeholders
brought four consecutive years of decline for Fiji on the World Bank Ease of
Doing Business index. Private sector investment in 2017 approached 20% of GDP,
compared to 13% in 2013.
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Source
: CIA |
Company
Summary
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Business Name |
PURE FIJI |
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Country |
FIJI |
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Company Registration Number |
14450 |
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Main Activity Code |
2042 |
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Main Activity Description |
Manufacture of perfumes and toilet preparations |
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Company Status |
Active (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
Basic
Information
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Business Name |
PURE FIJI |
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Registered Company Name |
PURE FIJI EXPORT LIMITED |
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Company Registration Number |
14450 |
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Country |
FIJI |
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VAT Registration Number |
501340004 |
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VAT Registration Date |
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Date of Company Registration |
2000-01-01 |
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Date of Starting Operations |
1995-01-01 |
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Commercial Court |
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Legal Form |
Limited Liability Company |
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Type of Ownership |
Private |
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Company Status |
Active (Active) |
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Principal Activity Code |
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Principal Activity Description |
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Contact Telephone Number |
+(679) 337-3431 / 338-3730 |
Main
Address
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Address |
Country |
Telephone |
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52 Karsanji St., Vatuwaqa, Suva |
FIJI |
+(679) 337-3431 / 338-3730 |
Other
Address
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No other addresses for this company. |
Previous
Address
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No previous addresses for this company. |
Activities
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Activity Code Activity
Description |
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2042 Manufacture of
perfumes and toilet preparations |
Email
Addresses
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Web
Pages
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Previous
Names
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Previous Name Date Changed from Previous Name |
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SANDOLLARS FIJI LTD |
Employee
Information
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Date Reported Number
of Employees |
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2018 530 employee(s) |
Banker
Information
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Banker Name |
Banker Address |
Phone Number |
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ANZ Bank |
Fiji |
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Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
+(679) 337-3451 |
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Export Countries |
America and Pacific Islands. |
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Import Countries |
Europe and Asia |
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Additional Business Information |
In 1995 Gaetane and Andree Austin registered the
company under the name Sandollars Fiji Ltd. In 2000 Pure Fiji
Export Limited was
formed in 2000
as the export
arm of Sandollars, and is a Limited Liability family owned company.
The company started with an investment of FJD 8 000 and presently boasts an
investment in excess
of FJD 5 000 000.
In September 2001,
when the business had grown significantly, the company moved into their own factory through
a bank loan.The company operates as a skin care company. AWARDS: 1997: Exporter of the
Year Award (General). 1998: Exporter Of The Year Award (Unique). 1998:
Innovative packaging prize -1998 in a soap and cosmetics competition in the
United States.. 1999: Excellence in Tourism Award. 2000: Exporter of the Year
Award to the USA. 2001: Exporter of the Year award (Prime Ministers). 2002:
Exporter of the Year Award
(USA). 2003: Fiji Chamber of Commerce Award: Most Innovative Company. 2003: Business Woman
of the Year Award. 2003: Excellence in Tourism Award. 2003: Exporter of the
Year Award (Prime Ministers). 2004: Exporter of the year to USA Award. 2004: B.I.D. Century International Quality Era
Award â“ Gold. 2005: Exporter of the Year to USA Award. |
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Additional Payment Information |
Payments are: regular |
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Additional Financial Information |
As a private company the subject does not publish
any financial statements. Contact: Ms. Gaetane Austin refused to disclose any
information of the company on grounds of confidentiality. As of today, no
financial data or credit history is available through public sources at this
time. |
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Number of Employees at Address |
530 employee(s) |
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Number of Employees at Group |
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Number of Employees at Factory |
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Additional
Miscellaneous Information
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Comments On Data Supplied |
The name provided was incomplete. We add the
complete legal name of the company in the report. |
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Mailing Address |
P.O. Box 664, Suva, FJ |
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Comments On Banks |
This information was not verified by the company. |
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Products/Services Description |
Tropically fragranced soaps, body oils, lotions,
creams, and a raw sugar and coconut oil body rub. Coconut oil shampoo, conditioner, bath gel, and body scrub
lotion, along with a line of facial
care products. Spa services:
skin, body and nail care. |
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Sales Are |
Wholesale, Retail |
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Brands |
Pure Fiji, Reniu, Mana ia. |
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Operations Area |
National, International, Local |
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Clients |
Transaction style: Business-to-business(B2B),
Business-to-consumer(B2C). Name: Air Pacific, Name: Royal Tonga Airlines,Name: The Sheraton Resorts, Name: Ready Care Industries, Country: USA' Name: Df
Sales And Distribution Inc, Country: USA. Comments on clients: Locally
the company sells its products through the finer stores and tourist hotels
(primary clients listed above). Exclusive retail outlets in the US, and in
the Spas and boutiques of prestigious hotels such as the Bellagio, Wynn, and
the Ritz Carlton chain of Hotels. |
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Suppliers |
We could not find suppliers through export and
import directories. The person contacted refused to provide and confirm this
information on grounds of confidentiality. |
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Comments On Staff |
There are approximately 500 people employed as
piece workers (paid per unit of production) outside the factory. This
information was not verified by the company. |
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Comments On Location |
The property is: Owned, The administrative office,
operations and spa of the company can be found at the above listed address.
Building Value Property, Plant and Equipment stands at FJD 5 000 000. Number
of branches: 0. |
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Listed At The Stock Exchange |
No |
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Summary |
Size: Large - over 500 people. Experience: Good
(>10 years). Group: None. Trade references: N.A. Payments: Regular. Profitability: N.A. Indebtedness: Controlled.
Cash: Normal. Legal Filings: NO. General
Overview: Good. The company is based in Fiji and operates as a skin
care company. Positive points: Legally active and in good standing. Good
experience in the market. No detrimental legal found. The company is a market
leader. Negative points: Financial information was
not disclosed by the company. We could not check any trade
reference. |
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Comments On Data Confirmed |
Name: Ms. Gaetane Austin. Position: Director. Cooperated: NO. The
contacted person refused to disclose any
information of the company on grounds of confidentiality. The information in
this report was obtained from third party sources. |
Financial
Information
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No financial information for this company. |
Current
Directors
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Name |
Gender |
Position |
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Gaetane Austin |
Female |
Director |
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Andree Austin |
Female |
Director |
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Talei Bilivanua |
Unknown |
Lab and Manufacturing Manager |
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Danielle Austin |
Female |
Factory Manager |
Previous
Directors
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No previous directors for this company. |
Share
Capital Structure
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Nominal Share Capital |
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Issued Share Capital |
Shareholders
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Shareholder |
Address |
% Shares Held |
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Ms. Gaetane Austin |
Fiji |
50 |
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Ms. Andree Austin |
Fiji |
50 |
Group
Structure
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No group structure information for this company |
Negative
Information
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OFAC LIST: NO. Bankruptcy: NO. Lawsuit(s): NO. 1. The Specially Designated Nationals (SDN) List, also
known as OFAC LIST, is a publication of OFAC which lists individuals and organizations with whom
United States citizens and permanent residents are prohibited from doing
business. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.55 |
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1 |
INR 89.82 |
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Euro |
1 |
INR 78.87 |
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FJD |
1 |
INR 31.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.