MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AIMA CONSTRUCTION CO PVT LTD |
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Formerly Known As : |
GALHOLHU CARPENTRY |
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Registered Office : |
G Aima Banafsa Magu Male |
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Country : |
Maldives |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20 .07.1974 |
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Com. Reg. No.: |
MV 0131 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Civil Engineering Consultancy and Building Construction Contractor Importers Distributor Agent and General Merchant of Construction and
Building Materials Equipment
Machinery Interior and Exterior Decortive Materials and Related Variety Items |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
AIMA CONSTRUCTION CO PVT LTD
MALE MALDIVES
Correct Address G AIMA BANAFSA MAGU
MALE
MALDIVES
Registered address AT
HEADING ADDRESS
Operating Address AT
HEADING ADDRESS
Telephone 960
318181 325197
Fax 960
313366
Telex NONE
Branches
NONE
Factory
NONE
Date, Established
20 07 1974
Incorporation No
MV 0131 DATED 20 07 1974
Legal Status
PRIVATE LIMITED COMPANY
Business
CIVIL ENGINEERING CONSULTANCY AND BUILDING CONSTRUCTION CONTRACTOR IMPORTERS DISTRIBUTOR AGENT AND GENERAL MERCHANT OF CONSTRUCTION AND
BUILDING MATERIALS EQUIPMENT MACHINERY
INTERIOR AND EXTERIOR DECORTIVE MATERIALS AND RELATED VARIETY ITEMS. SUBJECT IS
A GOVERNMENT AWARDED AND ENLISTED CONTRACTORS FOR
CONSTRUCTION
OF HOTELS SCHOOLS MOSQUES STORES OFFICE BUILDINGS
RESIDENTIAL BUILDINGS RESORT ISLANDS SWIMMING
POOLS AIRPORT ROADS AND HIGHWAYS BRIDGES ETC SUBJECT WAS KNOWN AS ‘GALHOLHU
CARPENTRY’ IN 1980 CHANGED ITS NAME TO AIMA WOODWORKS AND AGAIN IT CHANGED NAME IN 1991 AS AIMA WOODWORKS & CONSTRUCTION
CO PVT LTD, AND THE NAME WAS FURTHER CHANGED AS PRESENT HEADING STYLE IN 1999
Board of Directors
ABDUL AZEEZ UMAR – CHAIRMAN
AHMED ABDUL AZEEZ
IBRAHIM ABDUL AZEEZ - MANAGING DIRECTOR
MOHD ABDUL AZEEZ
Bankers
BANK OF MALDIVES LTD MALE MALDIVES
STATE BANK OF INDIA H B MAGU MALE
Payments
BELIEVED TO BE PROMPT.
NO PAYMENT TRACK HISTORY DISCLOSED
Financial Position
VERY GOOD. LEARNT ADEQUATE RESOURCES AVAILABLE
Public
NOTHING HEARD DETRIMENTAL OR UNCOVERED
Shareholders
ABDUL AZEEZ UMAR 20
AHMED ABDUL AZEEZ 20 IBRAHIM ABDUL AZEEZ 40 MOHD ABDUL AZEEZ 20%
Associates
AIMA & HAWKINS CONSTRUCTION CO LTD A JV CO
AIMA HARDWARE’
History
ALL DIRECTORS ARE
OF SAME FAMILY MEMBERS AND RELATED
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
Trade Suppliers
NONE
Premises
OWNED BY SUBJECT
Employs
250+
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 2006 IN
RUPEES/ RS’ 000 [UNAUDITED]
Paid up 1 000
Reserves/Surplus 20
680
Deferred Expenditure 28
775
50
455
Capital sources
Fixed assets 20
000
Investments 5 500
Current assets 29
090
54
590
Less
Current liabilities 4 135
50
455
Turnover Approx 85
000
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%)