BI Report sample - CREDIT REPORT

BUSINESS INTELLIGENCE REPORT
DASHBOARD SUMMARY
Client name XXXXX
Client reference Xxx
SI reference SI0002
Type of report Standard
The Mauritius Chemical &
Fertilizer Industry Ltd
Mauritius
Until you have a crystal ball
Strategic Insight compiles real-world data along with qualitative information to provide you with analysis and insights on the
credit risk level associated with companies.
Company Snapshot
Registered name The Mauritius Chemical & Fertilizer Industry Ltd
Company Identification Number C06001461
Registered Address Chaussée Tromelin, Fort George, Port Louis, Mauritius
Incorporation date 31/03/1965
Category Large corporate – Turnover higher than MUR200Million
Activity sector Manufacturing (non-textile)
Risks Diagnostics
Business risk
Industry risk
Country risk
Financial risk
Management risk
1: Very low 2: Low 3: Moderate 4: High 5: Very high
Credit Score and credit limit recommendation
SCRS 76 Maximum single limit EUR500,000
Grading Acceptable Maximum group limit EUR1.75Million
Date of SCRS 23-Oct-15 Maximum credit terms 90 days
Previous year SCRS n/a Monitoring level Moderate
SCRS: 76
Activity sector outlook
Fair

 Ground Floor, MAB Court Royal Road, Beau Bassin, Mauritius  (230) 5256 0935  (230) 455 1156  contact@strategicinsight.mu BRN C15129407
Disclaimer: Reports are submitted on the understanding that no legal responsibility whatsoever will be borne by the Provider of business information which are meant to be utilized exclusively for underwriting purposes or
analysing and evaluating credit application, thus assisting in decision making. Its contents are not to be revealed to any third party. Every possible effort is made to ensure its accuracy but the Provider does not guarantee
its total correctness.
2
The Mauritius Chemical & Fertilizer Industry Ltd
Mauritius
BUSINESS IDENTIFICATION
Registered name The Mauritius Chemical & Fertilizer Industry Ltd
Brand name/Trading name MCFI
Registered Office
Chaussee Tromelin
Fort George
City/Town/Locality Port Louis
Country Mauritius
Contact details
Telephone: (230) 216 3965
Fax: (230) 240 9969
Email: mcficontact@mcfi.intnet.mu
Website: www.mcfi.mu
BUSINESS SUMMARY
Identification No. Company No. C1461 and BRN C06001461
Incorporation date 31/03/1965
Status Live/Active
Legal form Public company
Category Domestic
In process of removal/winding
up/dissolution
No
Line of business
Manufacturers, importers and distributors of NPK complex fertilizers, blending
and trading.
Share capital MUR 220,064,000
Turnover MUR 540.2m (Dec 2014)
Employees 100-125

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Mauritius
Main bankers
▪ The Mauritius Commercial Bank Ltd
▪ Barclays Bank Mauritius Ltd
▪ Baroda Bank Ltd
▪ Habib Bank Ltd
▪ State Bank of Mauritius Ltd
Directors
▪ Mr. Antoine L Harel
▪ Mr. Allain Doger de Speville
▪ Mr. Charles Harel
▪ Mr. Vincent Labat
▪ Mr. Guy Harel
▪ Mr. Michel Rivalland
▪ Mr. Harold Ng Kwing King
▪ Mr. Beas Cheekhooree
Shareholding structure
Main Shareholders %
▪ Harel Mallac & Co. Ltd.
▪ Others
70.41
29.59
Size/Assets The company has its offices and plant at Fort George, Port Louis.
Imports
▪ Subject mainly imports from South Africa, India and Germany.
History
▪ MCFI was setup in 1965 but only started operating in 1975 with the production
of Complex NPK fertilizers for the local agricultural community. The main
objectives were to achieve self-sufficiency in the production of fertilizers as well
as price competitiveness.
Trading Activities
MCFI has 2 trading arms involved in the trading of commodities in Africa through
two fully owned subsidiaries. The company also manages 2 fellow subsidiaries
under a management contract.
Products & Services
▪ Complex NPK fertilizers
▪ Specialty Fertilizers
▪ Blended & Straight Fertilizers (Import)
▪ Mechanical Application
▪ Support Services
Related Concerns
▪ Chemco Ltd
▪ Bychemex Ltd
▪ Coolkote Enterprises Ltd
Subsidiaries
▪ MCFI International & Company Ltd,
▪ MCFI (Freeport) Ltd

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Mauritius
Dividends
▪ MCFI declared a dividend of MUR 0.90 per share representing a total of
MUR19.8Million in Dec 2014.
Quality Systems ▪ The MCFI group was certified to OHSAS 18001:2007 in July 2011.
Operations
Fertilizer Business
▪ The challenges faced by the local sugar sector heavily impacted the fertilizer
operations in 2014. The continued reduction in the price of sugar resulted in a
substantial drop in revenue for the operators. Subsequently the group
registered a lower turnover for the local sale of fertilizer.
▪ Exports registered an exponential growth in 2014. Export volume of granular
fertilizer to the region and Africa increased from 6,000MT in 2013 to 11,000MT.
Subject managed to regain market share in reunion. This helped the fertilizer
business to mitigate its shortfall in the local market.
Outlook
▪ The group plans to continue its regional expansion in the Indian Ocean and
Africa for its fertilizer business. Strategic Alliances and MCFI International
Zambia are key components of the expansion strategy in Africa. Also,
increased diversification into eco-friendly range of fertilizers will help mitigate
the drop in demand of granular fertilizers locally.
▪ As such MCFI plans to start operation of its bio-fertilizer unit in 2015 together
with The Mauritius Cooperative Agricultural Federation Ltd. Moreover, the
performance of the fertilizer cluster will likely depend on the health of the
Mauritius sugar industry as well as national reforms in the agricultural sector.
Other Development
▪ MCFI has set up a dedicated team to work on a series of projects with an
objective to optimise and generate more revenues from the plot of land it has
on lease from the Mauritius Ports Authority.
INDUSTRY OUTLOOK
Activity Sector Manufacturing - Other
Industry performance review
for past 3 years
Parameter
Year
2012
Year
2013
Year
2014
Year
2015F
Gross value added to GDP
(MUR Million)
14,902 16,994 17,821 18,215
Sector growth rate (%) 0.0 +12.7 +3.0 +1.6
Industry outlook Fair

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Mauritius
MAJOR MACRO ECONOMIC INDICATORS
Growth exposed to Brexit-related risks
▪ The Mauritius economy, which is based around four key sectors (tourism, textiles, sugar, finance) is dominated by services
(more than 70% of GDP). Despite diversification efforts aimed at attracting travellers from other countries, the island's economy
is heavily reliant on that of European countries, the origin more than 60%of tourists, many of them French (more than 20%) and
British (over 10%). Tourists arrivals (+3.6% in Q1 2017) are expected to slow compared to 2015 (+9.6%) and 2016 (+10.7%) in
relations to moderate European and, in particular, British growth. As a consequence, activity in the services sector of the tourism
industry looks set to be fairly flat. The construction sector, which contracted in 2016, is expected to keep weighing on growth in
2017.
▪ The amendment of provisions in the double taxation agreement agreed with India in May 2016, increasing the tax Indian
investors are liable to pay, might be a burden on investment flows, particularly in the financial sector. Exports (-6% in Q1 2017)
are forecast to keep suffering from weak demand in the United Kingdom, limiting the contribution foreign trade makes to growth.
▪ However, a relatively expansionary budget policy is expected to support economic activity by targeting key sectors in the
framework of an economic diversification programme (Vision 2030). As a whole, growth is expected to remain stable in 2017.
▪ Inflation should increase due to a rise in the price of imported oil and foodstuffs.
Budget and current account deficits widen
▪ Budget policy is expected to be relatively expansionary to try to give a boost to the Mauritian economy. The State will likely
intervene in the completion of infrastructure projects, particularly in the transport sector, and support the development of new

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Mauritius
sectors (film industry) as part of its economic diversification programme. This rise in spending will probably not be offset by a
rise in tax receipts because the government has announced tax cuts, especially for companies, in the 2017 Budget. For instance,
a tax on SMEs’ profits from exports of goods will be cut from 15% to 3%. Fiscal revenues are expected to modestly increase as
growth remains stable. However, financial support, in particular from India (a notable USD 500 million credit line for instance),
should help to finance some projects. The budget deficit will therefore probably rise a little, but remain under control. Public debt
is expected to continue to rise, but the profile of the debt – mostly concessional – greatly reduces the risk of overindebtedness.
▪ The current account balance is expected to deteriorate in 2017. Exports (textiles, sugar) should suffer due to modest British
demand (12% of exports went to the UK in 2016) and a lack of competitiveness in the British market, with the fall in value of
sterling. The prices of energy and food products, which form a large proportion of the island's imports, will probably not fall.
Infrastructure projects will also require imports of capital goods.
▪ Mauritius's financial system is robust and demonstrated its resilience after the collapse of the BAI group in 2015. Capitalisation
is satisfactory, but the ratio of non-performing loans, although still quite low, is rising (8% in 2016 compared with 5% in 2015).
The consequences of Brexit and the changes to the double taxation agreement with India could be a burden on the sector, but
should not undermine its stability.
A new government weakened by several controversies
▪ Mauritius Island is an established democracy. The parliamentary elections of December 2014 saw Sir Anerood Jugnauth (aged
86) return as Prime Minister, having previously occupied the same role in 1982-1995 and 2000-2003, and the role of President
(2003-2012). Nevertheless, the three-party coalition he represents, Alliance Lepep, which had a comfortable majority in
parliament before the Mauritian Social Democratic Party (PMSD) resigned from the government in December 2016, is, now,
weakened. The following month, A. Jugnauth’s decision, even though legal, to step down to make way for his son Pravind
infuriated the opposition and triggered several protests. The protest is all the more intense as the new Prime Minister has chosen
to appoint his father as Minister of Defense. Acquitted in May 2016 in a case of conflict of interest, P. Jungnauth is once again
threatened with legal action after the Supreme Court has given his consent to the Director of Public Prosecutions to challenge
the acquittal. Although it should not threaten political stability, the weakening of the government is real and could slow down the
implementation of reforms, yet necessary to achieve the goal of becoming a high-income country by 2023.
▪ Mauritius enjoys effective governance and a favourable business climate. Its governance indicators are among the highest of
Sub-Saharan African countries, according to the World Bank.
Source: Coface
OBSERVATIONS/ANTECENDENTS
▪ MCFI is a manufacturing
company, operating an NPK complex
fertilizer plant and a blending plant
for fertilizers in the port area. Subject
specialises in the manufacturing of
different grades of NPK fertilizers
and supplies NPK blends in the
market.
▪ The Mauritius Chemical & Fertilizer Industry (MCFI) was founded by Antoine Harel Sr. in 1975, a few years after
Mauritius obtained its independence from England
▪ The company is to manufacture fertilizers in the local market. The company outcast major players such as Currimjee,
IBL and Rogers.

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Mauritius
▪ The company also exports to the Indian Ocean Islands and Africa region. MCFI has investments in Reunion,
Madagascar and Malawi. The company is listed on the Stock Exchange of Mauritius (SEM) since 1989 and is a
subsidiary of Harel Mallac & Co. Ltd. MCFI has a contract to manage 2 companies, namely Chemco Limited which
trades in chemicals and general goods and Bychemex Limited which specialises in textile chemicals.
▪ The Harel Mallac Group is a well-established, diversified conglomerate involved
in various key markets, which include Chemicals, Information Technology,
Engineering, Business Process Outsourcing, Travel and Leisure, and Retail
amongst others. The Group comprises of nine Strategic Business Units (SBUs)
and various associate companies.
▪ The Holding Company, Harel Mallac & Co. Ltd, is listed on the Stock Exchange
of Mauritius. Harel Mallac is amongst the Top 100 companies of the island. In recent times, the Group has grown
organically and through acquisitions.
SUMMARY OF THE FINANCIAL PERFORMANCE
Summary Parameter FY2013 FY2014
(MUR '000) Turnover 540,204 490,469
Net profit 16,680 24,079
Borrowings 33,005 0
Equity 688,242 687,695
Fixed Assets 118,311 115,485
Comments ▪ Turnover in FY14 fell by 9.2% yoy to reach MUR490Million. This is due to the fact that
to the presence of many competitors on the market. The company experienced a 17.3%
yoy decline in gross profit.
▪ However, driven by the lower drop in cost of sales, the company’s gross profit margin
improved.
▪ Operating expenses hiked by 5.5% yoy to MUR125.2Million in FY14 whilst in FY13
while other operating income expanded from MUR11.3Million in FY13 to
MUR13.5Million last year.
▪ Net Finance cost was at MU787K in FY14 compared to a negative figure in the previous
year. This can be explained by the fact that the company repaid all its debt in FY14.
▪ The level of taxation dropped from MUR1.785Million in FY13 to a positive tax credit of
MUR114K, which positively impacted on the bottomline earnings. Net profit for the year
rose by 44.4% yoy to reach MUR24.0Million.
▪ Non-current assets rose by 9.9% yoy to reach MUR539Million in FY14 compared to
MUR490.9Million previously triggered by a significant expansion in non-current
receivables.
▪ The company posted a strong equity figure of MUR687.7Million in the last financial year.
▪ Working capital of the company rose by 16.6% yoy to reach MUR251.2Million in FY14
compared to MUR215.5Million in FY13.

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Mauritius
FINANCIAL ELEMENTS
Financial year ending: 31 December 2014
Type: Audited
Statement of financial position
The Group The Group
The
Company
The
Company
Growth yoy
%
2013 2014 2013 2014
MUR'000 MUR'000 MUR'000 MUR'000
Assets
Non-Current Assets
Property, plant and equipment 132,460 136,172 118,311 115,485 -2.4%
Intangible assets 115 115 0 -
Investments in subsidiary companies - - 14,268 14,268 0.0%
Investments in associates 12,877 15,485 38,174 38,174 0.0%
Investments in financial assets 16,120 12,309 16,120 12,309 -23.6%
Non-current receivables 304,026 359,026 304,026 359,026 18.1%
Total non-current assets 465,598 523,107 490,899 539,262 9.9%
Current Assets
Inventories 199,916 201,121 135,263 145,686 7.7%
Trade and other receivables 271,910 297,344 224,874 273,561 21.7%
Short term investments 0 9,943 0 9,943 N/A
Cash and cash equivalents 56,819 62,184 38,464 29,341 -23.7%
Total current assets 528,645 570,592 398,601 458,531 15.0%
Total Assets 994,243 1,093,699 889,500 997,793 12.2%
Equity and Liabilities
Capital and Reserves
Stated capital 220,064 220,064 220,400 220,064 -0.2%
Revaluation and other reserves 40,145 31,862 31,333 26,513 -15.4%
Retained earnings 498,514 508,148 436,845 441,118 1.0%
Total equity 758,723 760,074 688,242 687,695 -0.1%
Non-Current Liabilities
Borrowings 2,370 1,438 0 -
Deferred tax liabilities 14,005 14,927 11,705 10,978 -6.2%
Retirement benefit obligations 8,158 13,458 6,465 11,099 71.7%
Total non-current liabilities 24,533 29,823 18,170 22,077 21.5%
Current Liabilities
Trade and other payables 143,541 281,794 128,077 268,215 109.4%
Current tax liabilities 6,518 1,398 0 - N/A
Borrowings 38922 804 33,005 - N/A
Dividends 22,006 19,806 22,006 19,806 -10.0%
Total current liabilities 210,987 303,802 183,088 288,021 57.3%
Total Liabilities 235,520 333,625 201,258 310,098 54.1%
Total equity and liabilities 994,243 1,093,699 889,500 997,793 12.2%

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Mauritius
Statement of comprehensive income
The Group The Group
The
Company
The
Company
Growth
yoy%
2013 2014 2013 2014
MUR'000 MUR'000 MUR'000 MUR'000
Continuing Operations
Turnover 812,258 754,961 540,204 490,469 -9.2%
Cost of sales -658,883 -615,114 -458,165 -422,618 -7.8%
Gross Profit (Loss) 153,375 139,847 82,039 67,851 -17.3%
Other operating income 8,431 7,064 11,276 13,466 19.4%
Operating expenses -166,902 -170,491 -118,721 -125,211 5.5%
Other income 34,725 47,541 44,218 67,072 51.7%
Net finance income/(costs) -596 1,129 -347 787 -326.8%
Share of loss of associates -7,727 3,946 0 - N/A
Profit before taxation 21,306 29,036 18,465 23,965 29.8%
Income tax credit/(expenses) -9,242 404 -1785 114 -106.4%
Profit for the year 12,064 29,440 16,680 24,079 44.4%
Other comprehensive income
Items that will not be reclassified
subsequently to profit or loss:
Gain on revaluation of building 0 6,300 0 - N/A
Remeasurement of post employment benefit
obligations -538 -4,301 -609 -3,981 553.7%
Share of other comprehensive income of
associates 0 -1,338 - N/A
Items that may be reclassified subsequently
to profit or loss
Currency translation differences -3,615 -8,105 0 - N/A
Change in value of available-for-sale assets -1,099 1,241 -1,099 1,241 -212.9%
Release to income on disposal of available-for-
sale securities -2,080 0 -2,080 N/A
Other comprehensive income for the year,
net of tax: -5,252 -8,283 -1,708 -4,820 71.9%
Total comprehensive income for the year 6,812 21,157 14,972 19,259 9.9%
Earnings per share from continuing
operations 0.55 1.34 0.76 1.09 43.4%

1
0
Mauritius
Statement of cash flows
The Group The Group
The
Company
The
Company
Growth yoy
%
2013 2014 2013 2014
MUR'000 MUR'000 MUR'000 MUR'000
Cash generated from operations 164,867 114,660 141,273 92,280 -34.7%
Interest paid -1,686 -1,487 -614 -570 -7.2%
Income tax (paid)/refunded -10,852 -6,127 197 -599 -404.1%
Net Cash Flow from Operating Activities 152,329 107,046 140,856 91,111 -35.3%
Investing Activities
Purchase of property, plant and equipment -4,494 -13,826 -3,928 -13,092 233.3%
Purchase of investment in associates -12906 - -12906 - N/A
Proceeds on sale of property, plant &
equipment 205 796 53 363 584.9%
Proceeds on sale of available for sale
investments 0 5,169 0 5,169 N/A
Repayment of excess funds on application of
shares 100 - 100 - N/A
Loans granted -304,026 -64,943 -304,026 -64,943 -78.6%
Interest received 21,191 25,285 21,191 25,399 19.9%
Dividend received from: N/A
-subsidiary - 9000 - N/A
-available for sale investments 495 524 495 524 5.9%
Net Cash Flow from Investing Activities -299,435 -46,995 -290,021 -46,580 0.9%
Financing Activities
Payments on long term borrowings and finance
lease -862 -1,424 0 - N/A
Dividend paid 22,006 -22,006 -22,006 -22,006 0.0%
Net Cash Flow from Financing Activities 21,144 -23,430 -22,006 -22,006 0.0%
Net Movement in Cash and Cash
equivalents
At the beginning of the year 191,831 22,947 176,363 5,459 320.4%
Change in Cash & cash equivalent -169,974 36,621 -171,171 22,525 62.6%
Effect of foreign exchange rate changes 1,090 2,616 267 1,357
Cash & cash equivalent at end of the year 22,947 62,184 5,459 29,341 111.9%

1
1
Mauritius
Basic Financial Ratios
Profitability
FY2013 FY2014
Gross profit margin (%) 15.9 13.8
Net profit margin (%) 3.1 4.9
Financial Leverage
FY2013 FY2014
Interest-bearing debt-to-equity (times) 0.05 0.00
Total interest-bearing debt over Total assets
(times)
0.06 0.00
Total fixed assets over Interest bearing debt
(times)
3.58 N/A
Interest cover (times) 54.21 N/A
Liquidity
FY2013 FY2014
Current ratio (times) 2.18 1.59
Acid test ratio (times) 1.44 1.09
Average creditors turnover (days) 102 232
Solvency
FY2013 FY2014
Altman Z-score 15.36
Not applicable
Excellent

1
2
Mauritius
Basic financial ratio analysis
▪ Gross profit margin improved to 15.2% in FY14 compared to 13.8% in FY13.
▪ Net profit margin rose to 4.9% in FY14 compared to 3.1% in FY13.This rise can be explained by the fact that the
company experienced a major fall in its finance cost and taxation level also dropped.
▪ With repayment of interest-bearing debt, the Debt to equity ratio improved from 0.05 times in FY13 to nil in FY14.
Interest cover remained very favourable in FY14 especially with a positive net finance cost.
▪ Total interest bearing debt over total assets was 0.06 times in FY13 and the ratio fell to nil in FY14 since there was
no borrowing. Total fixed assets over interest bearing debt is 3.58 times in FY13 whilst in FY14 the ratio could not
be calculated since the company had no interest bearing debt in FY14.
▪ In times of liquidity, the current ratio deteriorated slight during FY14 to 1.59 times compared to 2.18 times in FY13.
However, it is still a very favourable indicator. In addition, the acid test ratio was still positive at 1.09 times despite
a deterioration. Creditors’ turnover ratio however worsened from 102 days in FY13 to 232 days in FY14.
▪ The Altman Z-score solvency test could not be calculated in FY14 since the company holds no interest bearing
debt which means that MCFI’s Z-score is more than favourable. A score below 1.8 means the company is probably
headed for bankruptcy, while companies with scores above 3.0 are not likely to go bankrupt. In the case of MCFI,
the solvency of the company is excellent.
PAYMENT BEHAVIOUR
▪ Nothing detrimental was noted during our investigation.
▪ Prompt payment.
MANAGEMENT RISK
0BManagement
▪ The company has so far been managed by professionals who have the required know-how and experience.
Very low
Low
Moderate
High
Very High
Management Risk Classification
✓ Sound management, experience and knowhow
✓ Good reputation of shareholders
✓ Strong group

1
3
Mauritius
SECURITY RISK
Security
QUALITATIVE INFORMATION
Qualitative Risk Barometers
Cash
Payment habits
Commercial approach
Business growth trend over last 5 years
Very low
Low
Moderate
High
Very High
Excellent Good Satisfactory Limited Alarmingly low Unknown
Very quick Quick Regular Slow Very slow Unknown
Excellent Good Satisfactory Poor Very poor Unknown
Thriving Growing Normal Stationary Regressing Unknown
Security Risk Classification
✓ High fixed asset level
✓ Strong group support
✓ Sound equity base

1
4
Mauritius
Credit Risk Barometers – perception by major stakeholders
Insolvency Risk
Default Risk
Monitoring Barometer
▪ The monitoring level recommended on this company is Moderate.
RISK MATRIX ANALYSIS
THREATS WEAKNESSES COMPETITION
- Slowdown in export markets.
- Downside risks affecting the
domestic economy.
- Even though acting independently
from the main shareholder, the
company still forms part of the
group, which has recently not been
fairing that well.
- Competition level: Moderate
Very Low Low Moderate High Very high Unknown
Very Low Low Moderate High Very high Unknown
Low Moderate High Strict/Close Special

1
5
Mauritius
CREDIT RISK PERCEPTION SCALE
STRATEGIC INSIGHT CREDIT RISK SCORE
▪ Strategic Insight’s Credit Risk Score (SCRS) is a statistical model which takes into consideration financial indicators
as well as other non-financial parameters like Sector performance and outlook, Payment behaviour, Management
risk, Charges inscribed on the company’s assets, Other qualitative information gathered from the market, Any other
information that might have a positive or negative impact on the company’s performance.
▪ The scale is between 0 (Very poor) to 100 (Excellent).
Grading Score Risk Level
Superior
Fully cash secured, secured by government
guarantee/international bank guarantee
Superior
Good 80+ Very low risk level
Acceptable 70-80 Risk is much below normal
Marginal/Watchlist 60-69 Risk is normal
Special Mention 55-59 Risk is slightly higher than normal
Substandard 45-54 Risk is significantly than normal
Doubtful 35-44 Very high risk level
Bad/Loss <35 Cases of default/Insolvent
▪ For MCFI, the SCRS stands at 76, which is an Acceptable grade i.e Risk below normal. Reliable company.
Company name MCFI Previous SCRS
SCRS 76 Not available
Grading Acceptable
Date of SCRS 23./10/15

1
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Mauritius
CREDITWORTHINESS OPINION
Credit worthiness opinion
Based on our analysis, we believe that the company is trustworthy for normal business engagements and can benefit
from credit from its main suppliers or bankers. MCFI is well established and has a sound payment history on the market.
Qualitative information gathered from the various stakeholders are showing positive indications on this buyer. We
believe that the company is financially sound for normal business engagement. The concern is reported to us to be
trading normally with good prospects for 2015.
Credit limit opinion
The average size of credit limit is MUR10Million.
Based on all information gathered, we do trust that the company can accommodate credit facilities at the moment.
Maximum Individual Credit limit recommended: EUR500,000
Maximum Global Credit limit recommended: EUR1.75Million
Recommended term period
The average credit term period for this buyer on the market is 90 days from most suppliers.
As such, we recommend maximum credit terms to be 90 days with this company.
Recommended review of the credit limit
Based on proper credit risk management practices, we recommend the review of the credit limit as from the 30th
of
April 2016 based on updated information.

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