MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DHIVEHI RAAHJJEGE GULHUN PRIVATE LTD [DHIRAAGU] |
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Registered Office : |
19 Medhuziyaaraiy Magu, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.10.1988 |
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Com. Reg. No.: |
MV 01 |
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Legal Form : |
Private Limited Company [Joint Venture Co] |
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Line of Business : |
Provide all types of Telecom Services |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
DHIVEHI RAAHJJEGE GULHUN PRIVATE LTD [DHIRAAGU]
Address
19 MEDHUZIYAARAIY MAGU
PO
Telephone 960 3322802
Fax 960 3322800
Telex 77022 DHIRAAGU
Registered address
AT HEADING ADDRESS
Operating Address
AT HEADING ADDRESS
Branches
ALL OVER THE
COUNTRY
Factory
AT HEADING
ADDRESS [EXCHANGE]
Date, Established
01 10 1988
Incorporation No
MV 01 DATED 01 10
1988
Legal Status
PRIVATE LIMITED COMPANY [JOINT VENTURE CO]
Businesses
SUBJECT IS A NATIONAL TELECOMMUNICATION COMPANY IN MALDIVES PROVIDE ALL
TYPES OF TELECOM SERVICES, AND ITS A ‘JOINT VENTURE COMPANY’ MADE BETWEEN GOVERNMENT
OF THE MALDIVES AND CABLE & WIRELESS [C&W] PLC UK, TELECOM SERVICES
COVERED ARE: INTERNATIONAL DIRECT DIALLING TELEPHONE TELEX TELEGRAM FAX AND
INTERNET SERVICES INCLUDING MOBILE GSM PHONE NETWORK ALL OVER MALE AND ALL OVER
WHOLE MALDIVES SERVICE ALSO AVIALABLE LIKE CARD PHONES PAGING MARITIME RADIO
PHONE SMS ROAMING IMMARSET SERVICES SHIPS OILRIGS AND CYBER CAFÉ INCLUDE ALL
LATEST AVAILABLE SYSTEMS IMPORTERS PROCUREMENT OF TELECOM OF EQUIPMENT EXCHANGE
TELEPHONE SETS RELATED VARIOUS KITS ACCESSORIES
Board of Directors
ISMAIL WAHEED – CHAIRMAN
DAVID
BOB URE
M JACQUELINE
IAN SHEPHERD
IBRAHIM DIDI
DR HASSAN SHAFEEU
HUSSEIN SHAREEF
M MIRSHAN HASSAN
Bankers
BANK OF
HABIB BANK LTD MALE
BANK OF CEYLON LTD MALE
Payments
LEARNT TO BE PROMPT, NO
PAYMENT TRACK HISTORY AVAILABLE
Financial Position
VERY GOOD. LEARNT, ADEQUATE RESOURCES AVAILABLE
Public
NOTHING HEARD DETRIMENTAL
Shareholders
GOVERNMENT
OF
Associates
NONE
Imports from
EUROPEAN COUNTRIES
Financial Information
BEING PVT LTD COY FINANCIAL STATEMENT NEED NOT BE FILED
History
REPUTED CO
Buying/Selling term
PER 100% IRREVOCABLE AND
CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum [USD]
200000 + CAN BE GRANTED ON
MUTUAL AGREED SECURED AND PROTECTED TERM
Agency
C&W ERICSSEN ALCATEL SIEMENS ETC
Trade
Suppliers/Referees
AS ABOVE
Premises [Office]
SUBJECT OWNED [Factory] OWNED [Warehouse] OWNED
Employs
3200 +
Member
OF A LOCAL CHAMBER OF
COMMERCE AND OTHER TRADE ASSOCIATION
Sources
Remarks
SUBJECT IS CONSIDERED TO BE GOOD FOR ANY
CAPITAL AS AT 31 12
MILLION [ABRIDGED
& UNAUDITED]
PAID UP CAPITAL 190.00
STATUARY, GENERAL & OTHER RESERVES 1297.10
CURRENT LIABILITIES 810.40
DEFERRED & OTHER LIABILTIES 823.25
3120.75
FIXED ASSETS 1400.00
ADVANCES 464.10
OTHER ASSETS 855.70
LIQUID ASSETS 400.95
3120.75
TURNOVER APPROX 3500.00
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. |
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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)