MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FOUR SEASONS RESORT |
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Registered Office : |
Kuda Huraa North Kaafu Atoll Male |
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Country : |
Maldives |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19 01 1997 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Hotels Resorts and Spa’s Owner and Operators |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 100000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
FOUR SEASONS RESORT
Address
KUDA HURAA NORTH KAAFU
ATOLL MALE MALDIVES
Registered address
AT HEADING ADDRESS
Head Quarter
IN TORONTO AND NETHERLANDS
Branches
AT LANDAA GIRAAVARU
BAA ATOLL, MALDIVES
Factory NONE
Telephone 960 6644888 6644800
6641188
Fax 960
6600800 6644900 6641188
Telex NONE
Date, Established
19 01 1997 [REVISED IN
2001]
Incorporation No
MV-3021 DATED 19 01 1997 [MAY BE CHANGED]
Legal Status
PRIVATE LIMITED COMPANY
Businesses
HOTELS RESORTS AND SPA’S OWNER AND OPERATORS, SUBJECT IS A
CANADIAN BASED WORLD'S LEADING
LUXURY HOTEL AND RESORT COMPANY AND OPERATOR STARTED IN 1961 IN TORONTO AND CURRENTLY
BECAME A LEADING OPERATOR OF
HOTELS AND RESORTS IN 31 COUNTRIES AND MANAGES 70 PROPERTIES, SUBJECT IN
MALDIVES IS COVERED BY 106 ROOMS BUNGALOWS AND BEAUTFULLY VILLAS THAT ARE BUILT
ON THE 12-ACRE ISLAND WITH ALL HOTEL FACILITIES JACUZZI OCEAN FRONT BUNGALOWS
AND VILLAS INCLUDE SWIMMING POOL HOT/COLD WATER STEAM ROOMS ISLAND SPA
RESTAURANT COFFEE SHOP LEISURE FACILITIES SCUBA DIVING WINDSURFING CATAMARAN
SAILING CANOEING WATER SKIING WAKE BOARDING BANANA RIDING BIG GAME FISHING AND
EXCURSIONS ROOM FACILITIES SAFE ATTACHED WITH IDD CD PLAYER HAIRDRYER MIN-BAR
TV BUNGALOWS SUITES A/C ROOMS AND
ITS OWN PRIVATE ISLAND OCCUPYING ENTIRE 18 HECTARES / 44 ACRES ISLAND OF LANDAA GIRAAVARU MALDIVES
Board of Directors
ISADORE SHARP – CHAIRMAN
TOM ROELENS
PETER GALLETTI
ARMANDO KRAENZLIN
ROBBERT VAN DER MAAS
Bankers
BANK OF MALDIVES LTD MALE
STANDARD CHARTERED BANK LTD
HABIB BANK 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
FOUR SEASONS HOTEL & RESORTS BV NETHERLANDS 100%
Associates
HPL RESORTS (MALDIVES) PVT LTD
FOUR SEASONS HOTEL & RESORTS BV NETHERLANDS AND WORLDWIDE
Imports from
WORLDWIDE SOURCES
Court, bad credit
NO COURT ARBITRATION, NON-PAYMENT OR DISPUTES ARE LEARNT
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]
100000 CAN BE GRANTED
ON MUTUAL AGREED SECURED AND PROTECTED TERM
Agency
NONE LEARNT
Trade Suppliers/Referees
NONE
Premises
OWNED BY SUBJECT
Employs
450 + GROUP’S OVER 6000
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 2007 IN MVR / MILLION [[ABRIDGED
& UNAUDITED]
PAID UP 10.00
CAPITAL RESERVES/SURPLUS 215.55
CURRENT LIABILITIES 155.75
DEFERRED & OTHER LIABILTIES 63.80
445.10
FIXED ASSETS 100.00
ADVANCES 49.45
OTHER ASSETS 116.90
LIQUID ASSETS 178.75
445.10
TURNOVER APPROX 550.00
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)