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3.7. PLAN EPARGNE LOGEMENT (PEL) The drain of PEL capital has been contained. This year witnessed an increase in our PEL from Rs 483.3 million to Rs 518.1 million. The PEL scheme is being revisited to make it more attractive. ANNUAL REPORT 2001 - 2002 REVIEW of the year’s performance 24
3.8 NEW SCHEMES/ SERVICES With the drive to serve the clients better, and better management has adopted a culture of continuous product and service development/innovation 3.8.1 Land Loan Scheme Buying a plot of land and starting construction simultaneously warrant a lot of funds and many potential clients are finding this beyond their means. To cater for this market segment MHC introduced a Land Loan Scheme in July 2001. This helps all those who want to buy a plot of land but who cannot afford immediate construction. As at 30th June 2002, a total amount of Rs 40.6 million was approved for such loans thus enabling 142 families to benefit from this Scheme. 3.8.2 Architectural Services REVIEW of the year’s performance The Company introduced the provision of architectural services to the public in July 2001. These services include type-plan as well as tailor-made plan at affordable price. This constitutes an added value to the various services MHC already offers to its clients. Now for a nominal fee people from the low income group can benefit from professional architectural services. During the Financial Year under review 28 clients have already availed of such facilities. ANNUAL REPORT 2001 - 2002 3.8.3 In-house execution of Fixed Charge Documents Our Legal Department has been reinforced to extend the facility of execution of fixed charge documents to more clients. Most of our clients now choose to have their loan documentation finalised by MHC for a reasonable fee. However, the client still has the flexibility to choose his own Notary. 3.9 BRANCHES & DECENTRALISATION As announced last year, we have successfully launched a new branch at Curepipe in September 2001. This branch is now serving all our clients and the public in general living in the Southern part of the island and on the central plateau. The branch is offering the whole range of products and services offered at the Head Office and has already become popular. During the year the branch approved Rs 45.4 million housing loans and accepted Rs 10.1 million and Rs 50.4 million in PEL and HDC Deposit respectively. 25
Page 1 and 2: Annual Report 2001 - 2002
Page 3 and 4: CONTENTS 1. Our Vision 4 2. Our Mis
Page 5 and 6: Mission Our Mission To help as many
Page 7 and 8: REGISTERED OFFICE MHC Building, Rev
Page 9 and 10: SENIOR Management Mr. L. D UNMOLE M
Page 11 and 12: The Directors are pleased to presen
Page 13 and 14: CORPORATE Governance MHC is committ
Page 15 and 16: MANAGING DIRECTOR’S REPORT 15
Page 17 and 18: However, MHC’s dedication to plac
Page 19 and 20: Reserves have in consequence increa
Page 21 and 22: 3.5.1 Loans Approved During the yea
Page 23: 3.5.5 TOTAL LOANS APPROVED - (MAURI
Page 27 and 28: The strength of the company is depi
Page 29 and 30: REPORT FROM THE SECRETARY TO THE ME
Page 31 and 32: Auditors’ report to the members o
Page 33 and 34: BALANCE SHEET - 30 JUNE 2002 Notes
Page 35 and 36: STATEMENT OF CHANGES IN EQUITY FOR
Page 37 and 38: NOTES financial to the STATEMENTS F
Page 39 and 40: NOTES financial to the STATEMENTS (
Page 41 and 42: NOTES financial to the STATEMENTS 4
Page 45 and 46: NOTES financial to the STATEMENTS 1
Page 51 and 52: NOTES FOR THE YEAR ENDED 30 JUNE 20
Page 53 and 54: NOTES FOR THE YEAR ENDED 30 JUNE 20

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