MIRA
INFORM REPORT
|
Report Date : |
21st
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ASHA
TEXTILES |
|
|
|
|
Registered Office : |
14 Chandhani Magu, Male Maldives |
|
|
|
|
Country : |
Maldives |
|
|
|
|
Date of Incorporation : |
11.12.1978 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Importers
stockists wholesale retailing and general merchant of textiles fabrics
garments all sorts cosmetics canned foods confectionary plastic ware and consumer goods general
merchandises. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Name
ASHA
TEXTILES
Address
14 CHANDHANI MAGU, MALE MALDIVES
Registered address
AT
HEADING ADDRESS
Operating Address
AT
HEADING ADDRESS
Telephone 960 3328888 3316666 3318888 3322782
Fax 960 3326666
Branches
NONE
Factory
NONE
Date, Established
11
12 1978
Incorporation No
NOT REQUIRED
Legal Status
PRIVATE LIMITED
COMPANY
Businesses
IMPORTERS
STOCKISTS WHOLESALE RETAILING AND GENERAL MERCHANT OF TEXTILES FABRICS GARMENTS
ALL SORTS COSMETICS CANNED FOODS CONFECTIONARY PLASTIC WARE AND CONSUMER GOODS GENERAL
MERCHANDISES
Board of Directors
MR
HASSAN HALEEM – OWNER
Bankers
HABIB BANK LTD
MALE
Payments
PROMPT
Financial Position
VERY GOOD ADEQUATE
RESOURCES AVAILABLE
Shareholders
100% OWNERSHIP COMPANY
Associates
NONE
History
REPUTED CO
Buying/Selling term
PER 100% IRREVOCABLE
AND CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum [USD]
50000 CAN BE GRANTED
ON MUTUAL AGREED SECURED AND PROTECTED TERM
Imports from
WORLDWIDE
Export to
NONE
Court, bad credit
NO COURT
ARBITRATION, NON-PAYMENT/LOANS DISPUTE ARE LEARNT
Agency
NONE
Trade Suppliers
NONE
Premises
[O] RENTED BASIS – SIZE 2500
SQFT
[F] NONE
[W] NONE
Employs
20 +
Member
OF A
LOCAL CHAMBER OF COMMERCE AND OTHER TRADE ASSOCIATIONS
Sources
REPORT IS PRODUCED FROM
COLLECTIVE RESULTS OF LOCAL AGENTS
Remarks
SUBJECT IS CONSIDERED TO BE GOOD
FOR ANY NORMAL BUSINESS ENGAGEMENT
CAPITAL AS AT 31 12 2005
IN
RUPEES [RS] / 000
FIXED ASSETS 10
000
CURRENT ASSETS
Stocks 18
780
Trade debtors 1 758
Prepayments 865
Bank & cash 1 237
22
640
CURRENT LIABILITIES
Trade creditors 8 551
Accrued charges 842
ST LT Loans & Bank
O/D 2 777
12
170
CURRENT ASSETS
LIABILITIES 10 470
NET TOTAL ASSETS 20 470
REPRESENTING BY
INVESTED CAPITAL 2 000
PROPRIETORS’ F/D
A/C& PROPERTY 18 470
20
470
TURNOVER APPROX 70
000
Notes
Sole
traders and partnerships are not required by law to register.
Sole
traders/partnerships are required to register as a tax payer under EXISTING TAX
RULE
As a
Sole Trader/Partnership, there is no Share Capital or Shareholders funds
Financial
details of sole/partnership trading are private to the Owner
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|