MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ISHAAN REAL ESTATE PLC |
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Registered Office : |
Top Floor, 14 Athol Street, Douglas, Isle of Man, IM1 1JA |
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Country : |
Mauritius |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.08.2006 |
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Com. Reg. No.: |
GR640557 |
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Legal Form : |
Limited Company |
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Line of Business : |
Property Investment
Company |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Identification Details
Subject Reported
on ISHAAN REAL ESTATE
PLC
Address TOP FLOOR, 14
ATHOL STREET, DOUGLAS, ISLE OF MAN, IM1 1JA.
Telephone 0207 153 1526
Credit Recommendations
Risk Category HIGH
RISK
Credit Risk Assessment
All figures enter are in GBP.
Cash transactions are advised
Business Data
Business Type See Report
Business Number GR640557
Known Since 11/08/2006
Accounts The last filed accounts at
Companies House are those to 31/03/2007
Operations
Activities property investment company.
Nace Code 7020
Premises Rented,Offices
Staff Employed 5
Import Countries No Import Activity
Export Countries No Export Activity
Public Record Information
Summary
of CCJ's/Scottish Decrees
No CCJs/Scottish Decrees are recorded in our file.
Company Secretary
Secretary MRS ANNE
ELIZABETH COUPER-WOODS
Known Owners/Managers
Accountant MR RAJENDRA PRABHAKAR CHITALE
Accountant
MR IAN IAN J HENDERSON
President
MR NEEL CHANDRU RAHEJA
Financial Controller
MR TIMOTHY GRAHAM WALKER
Chairman and Chief Executive
MR VITTORIO RADICE
Director
MR STEPHEN ELIZABETH COUPER WOODS
Share Capital
Shares Ordinary 0.01 GBP Each
Issued Number 200
Principal Shareholder 200 Cazenove Nominees Limited
The above reflects the principle shareholder(s) by
number of shares held, irrespective of share classification type.
Payment Analysis
( No Payment Analysis Data is Available )
General
Information
The subject is a ISLE OF MAN registered Limited Company (Reg 117470C) and therefore do not file annual accounts / annual returns at Companies House. The subjects registered office address is: TOP FLOOR, 14 ATHOL STREET, DOUGLAS, ISLE OF MAN, IM1 1JA.
Analysts
Comment
We have been unable to contact the subject direct as the above telephone
number is connected to an answerphone. Messages have been left and if a reply
is forthcoming we will supplement this report. A letter of enquiry was sent and
if further information becomes available this report will be
supplemented.
Financial Data
The organisation is not legally obliged to make available financial
information for public inspection.
Financial Comparison
The following figures are shown in units of 1000
Number of Weeks 52
Accounts Date 31/03/2007
Currency GBP
Directors
Remuneration 30
Auditors
Remuneration 190
Liquid Assets 992
Net Working
Capital 114243
Tangible Net
Worth(T.N.W) 199290
Equity 199290
Number of Years
Trading 1
Key Credit Ratios
The following figures are shown as Ratios or Percentages
Accounts Date 31/03/2007
Current Ratio 3.8
Quick Ratio 3.8
Return on
Investment% 2.1
Return on Assets% 0.7
T.N.W/Total
Assets% 83
Return on Capital% 0.9
Rtn on
Shareholders Funds% 0.9
Borrowing Ratio% 20.4
Equity Gearing% 488.3
Key
Industry Sector Trends
Year 2007 2006 2005 2004
Sample Size 9012 34275 34296 32335
Pre-Tax Profit
Margin 35.1 33.8 32.6 33.4
Current Ratio 2.8 2.5 2.3 2.1
Borrowing Ratio 115.5 125.4 139.5 152.2
Return on Capital 9.9 10.6 11.3 12.1
Creditors Days 138 250 264 243
Above figures relate to companies in 1992 Standard Industry
Classification (Nace) sector : Letting of own property
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%)