DCDM | Credentials

Management contract of 8 hotels, Malawi

DCDM was entrusted with the management contract of 8 hotels in Malawi in a general context of tourism development . We prepared tender documents for the selection of a management contract company for 8 hotels. DCDM was also responsible for drafting and negotiating the management contract with shortlisted companies.

Acquisition of shares in an oil distribution company, Madagascar

Our legal experts advised our client on the acquisition of shares from the Government of Madagascar in an oil distribution company and an oil refinery company as part of the privatisation process. We negotiated and completed two memoranda of understanding. A legal due diligence was carried out in due respect of this distribution company and the refinery's company assets and liabilities. We also negotiated the shareholders agreement and banking and security documentation. Our offshore legal specialists also advised our client on the offshore company structuring.

Tax Advisory Services

The Tax Appeal Tribunal has recently ruled in favour of one of our clients wit respect of a supply of a good to be exempt from VAT whereas the VAT office has claimed such supply to be taxable.

Audit of several World Bank funded projects

DCDM carried out numerous audit assignments for World bank funded projects in Rwanda namely for the following development projects :

-Agricultural project
-Education project
-Population project
-Communications project

Statutory Audit at the largest commercial bank, Mauritius

DCDM is the auditor of the largest commercial bank on the island and its network of subsidiaries in Reunion island, Madagascar, Mayotte, Seychelles, Mozambique and France. This local bank is the oldest and best established bank in Mauritius with 160 years of banking experience.
Recent innovations have included the introduction of a home banking service, special savings account scheme for under 18's, fidelity cards and electronic corporate banking.

Leading Service Provider for Fund Structuring and Administration (Mauritius)

Multiconsult Ltd came into operation in 1992 when the Mauritian Offshore Sector was established. We assist multinationals, international fund managers, and high net worth individuals to maximise their return on their investments and projects by making available to them high quality professional services at moderate cost compared to other jurisdictions.

We also help in structuring the appropriate vehicles taking into consideration the double taxation agreements network of Mauritius.

We employ more than 50 staff and pride ourselves on providing high quality professional services with the support of a dedicated team of professionals and the latest technology. We are recognised as a leading service provider for fund structuring and administration. We currently service around 40% of all offshore funds in Mauritius. This represents around 60% in terms of value.

Setting up of a Management Accounting Information System

Our client was facing enormous financial difficulties due to lack of accounting information in his day-to-day management. Due to lack of accounting information on the actual costs, management could not take strategic decisions regarding pricing policies.

A new system for maintaining the accounting books and records of the company was set up. An appropriate accounting software, according to the client's needs, was chosen to support this new system. Efficient and timely accounting information were generated, and included:

-Updated bank balance for each bank
·Detailed analysis of income and cost of sales
·Regular management accounts
·Comparison of actual and budgeted results
·Detailed cost per profit centre
·Other accounting management information customised as per client's specific needs

Integrated Audit Services

Following the acquisition of one of the largest bank in Madagascar by a leading bank in France, we were appointed auditors of the Bank. Working closely with management, we:
· identified a number of risks (environmental, process and information for decision making risks) facing the organisation;
· prioritised the risks after analysing the significance and the likelihood of the risks materialising;
· recommended a course of action for management to take.

Management commended us for the approach we used in the audit process and for being sensitive to the environment in which the bank operates.

Attest Services

DCDM was requested by the management of the acquiring company to review the information provided by the management of the target company in order to determine whether the agreed negotiated price for the acquisition of the target business was fair and reasonable.

Our research work which was carried out by a multi-disciplinary team comprising of economists, market research specialists and accountants revealed that the prospects of the target business was less attractive than what was presented by management.

At the end of the process, the transaction price was reduced by 35%.


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