MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
NALAHIYA TRADING PVT LTD |
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Registered Office : |
NO 11 BODUTHAKURUFAANU 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 : |
21 09 2001 |
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Com. Reg. No.: |
MV 09137 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Multipurpose Trading and Construction Company, Importers Distributor Stockists
and General Merchant, Deals in Variety of Building Materials |
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 : |
Regular |
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Litigation : |
Clear |
Company Name & Address
NALAHIYA TRADING PVT LTD
NO 11 BODUTHAKURUFAANU
MAGU MALE MALDIVES
Registered address AT
HEADING ADDRESS
Operating Address AT
81 BODUTHAKURUFAANU MAGU MALE MALDIVE
Telephone
960
335930
315577 3325565 3336629 3315588 3332897
Fax 960
337711 317777
Telex NONE
Branches
AT G HIYAKURI, ALIKILEGEFAANU MAGU MALE AND AT 46 BODUTHAKURUFAANU MAGU MALE,
AT M KANDUFUSHI HAVEEREE HINGUN MALE AND AT AT SHIP PLAZA 2/F 1/6 ORCHID MAGU MALE
Factory
NONE
Date, Established
21 09 2001
Incorporation No
MV 09137 DATED 21 09
2001
Legal Status
PRIVATE LIMITED
COMPANY
Businesses
SUBJECT IS A MULTIPURPOSE TRADING AND
CONSTRUCTION CO, IMPORTERS DISTRBUTOR STOCKISTS AND GENERAL MERCHANT, DEALS IN
VARIETY OF BUILDING MATERIALS LIKE CEMENT SAND AGGREGATE DEFORM BARS ROOFING
SHEETS, PLYWOODS, MDF BOARDS SILICON BLOCKS,
PLYWOODS, HARDWARE GLASS CUTTING AND
VARIETY RELATED ITEMS AND SHIPPING AND OWNER OPERATOR OF GENERAL CARGO SHIP OF
DWT[M] 11801 SHIPPING AGENTS CARGO CARRIER BOOKING STEVEDORING SEA TRANSPORT
SERVICES AND HOTELS
Board of Directors
ABUL QUASHEM – MANAGING DIRECTOR
IBRAHIM WAHEED
ALI NAZIM
I M RASHEED
F JAMEEL
A NAZEER
MAIZAN ALI MANIKU
MOHAMED HASSAN
Bankers
BANK OF MALDIVES LTD
MALE
HABIB BANK LTD MALE
Payments
PROMPT
Financial Position
VERY GOOD ADEQUATE
RESOURCES AVAILABLE
Shareholders
NALAHIYA GROUP 100% [DECLINED
TO PROVIDE DETAILS OF SHAREHOLDERS]
Associates
NALAHIYA TRADE
NALAFIYA SHIPPING AGENTS INC
NEVADA SHIPPING MALDIVES PVT LTD
NALAFIYA SHIPPING & TRADING MALDIVES PVT LTD
NALAHIYA SHIPPING PVT LTD
NALAFIYAA SHIPPING (MALDIVES) PTE LTD
NALAFIYA TRADER
NALAHIYA HOTEL MALE [OPENED IN NOV
2006]
NALAHIYA SHOP AND SHOWROOM 1 2 3 4 5 AT DIFFERENT
LOCATIONS
History
REPUTED CO
Buying/Selling term
PER 100% CONFIRMED AND
IRREVOCABLE L/C AT SIGHT DRWAN BASIS
Credit Maximum [USD]
100000 CAN BE GRANTED
ON MUTUAL AGREED SECURED AND PROTECTED TERM S
Imports from
WORLDWIDE
Export to
WORLDWIDE
Agency
NONE
Trade Suppliers
NONE
Premises
RENTED BASIS
Employs
350 +
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 RUFIYA /
MILLION [PROVISIONAL & UNAUDITED]
Intangible Fixed assets 29.6
Tangible Fixed assets 43.4
Financial Fixed assets 26.7
FIXED ASSETS 99.7
Inventories 41.9
Receivables 58.4
Cash 13.9
CURRENT ASSETS
114.2
Total 213.9
Paid up 5.5
Reserve/surplus 85.6
Provisions 30.6
LT liabilities 35.5
Current liabilities 14.6
Deferred liabilities 42.1
Total liabilities 213.9
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%)