MIRA
INFORM REPORT
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Report Date : |
17.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
ELITE
SHIPPING & TRADING CO PVT LTD |
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Registered Office : |
1/F Ma
Muraidhooge, Joashee Hingun G, Male Maldives |
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Country : |
Maldives |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
26.08.1985 |
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Com. Reg. No.: |
MV-39-851 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Seafood Processing Packing Catering Company and Producer and Exporters of Sea-foods like Frozen and Fresh Chilled Tuna. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
ELITE
SHOPPING & TRADING CO P LTD
correct Style
ELITE
SHIPPING & TRADING CO PVT LTD
Address
1/F MA MURAIDHOOGE
JOASHEE HINGUN G
MALE
MALDIVES
Head Office Address
G KANDUVAIGE LONUZIYAARAIY MAGU MALE MALDIVES
Registered address
AT
HEADING ADDRESS
Operating Address
AT
HEADING ADDRESS
Branches
NONE
Factory
AT HEADING ADDRESS
Telephone
: 960 444517 7774517 3328149
Fax :
960 324926 3315073
Telex :
NONE
Date, Established
26 08 1985
Incorporation No
MV-39-851
DATED 26 08 1985
Legal Status
PRIVATE
LIMITED COMPANY
Businesses
SUBJECT IS A SEAFOOD
PROCESSING PACKING CATERING COMPANY AND PRODUCER
EXPORTERS OF SEAFOODS
LIKE FROZEN AND FRESH CHILLED TUNA AND TUNA FRESH
CHILLED YELOWFIN TUNA
FRESH CHILLED AND FROZEN TUNA ROE LIVER HEART BELLY FLAP
AND EXPORTER OF
DIFFERENT VARIETIES OF SEAFOOD LIKE YELLOWFIN TUNA, REEF FISH,
SHARK FINS, SEA
CUCUMBER FROZEN TUNA FILET CHUNKS, LOINS TUNA SKIN SHARKFINS
AND SALTED DRIED FISH
SKIPJACK AND SAKU IMPORTERS OF IRON AND STEEL MATERIALS
Board of Directors
IBRAHIM
RASHEED - MANAGING DIRECTOR
IBRAHIM
LATEEF
IBRAHIM
HAMEED
Bankers
BANK OF
MALDIVES LTD MALE
HABIB
BANK LTD MALE
RELATION
BETWEEN SUBJECT AND BANK ARE LEARNT TO BE GOOD
Payments
LEARNT
TO BE PROMPT, NO PAYMENT TRACK HISTORY AVAILABLE
Financial Position
VERY
GOOD. LEARNT, ADEQUATE RESOURCES AVAILABLE
Public
NOTHING
HEARD DETRIMENTAL
Shareholders
IBRAHIM
RASHEED 50 IBRAHIM LATEEF 25 IBRAHIM HAMEED 25%
Associates
NONE
Imports from
WORLDWIDE
Export to
NONE
Court, bad credit
NO COURT
ARBITRATION, NON-PAYMENT OR DISPUTES ARE LEARNT
History
REPUTED
CO
Buying/Selling term
PER 100% IRREVOCABLE
AND CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum [USD]
100000 CAN BE GRANTED
ON ANY MUTUAL AGREED SECURED AND PROTECTED TERM
Agency
NONE
Trade
Suppliers/Referees
NONE
Premises
RENTED
BASIS
Employs
55 +
Member
NONE
Sources
REPORT IS PRODUCED FROM
COLLECTIVE RESULTS OF LOCAL INFORMANT.
Remarks
SUBJECT
IS CONSIDERED TO BE GOOD FOR ANY NORMAL BUSINESS ENGAGEMENT
CAPITAL AS AT 31 12 2005 IN MV RUPEE / MILLION
LT ST INVESTMENTS 6.75
RECEIVABLE 10.30
INVENTORY 18.15
DEFERRED ASSETS 5.20
TOTAL CURRENT ASSETS 40.40
FIXED ASSETS 20.00
TOTAL ASSETS 60.40
CURRENT LIABILITIES 4.15
PAYABLE 10.55
LT FINANCIAL
LIABILITIES 7.75
TOTAL LIABILITIES 22.45
PAID UP 1.00
RESERVES/SURPLUS 19.65
DEFERRED LIABILITIES 17.30
TOTAL LIABILTIES 60.40
TURNOVER
APPROX 75.00
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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