MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIX SENSES LATITUDE LAAMU |
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Registered Office : |
C/O Olhuveli Laamu Holding Pvt Ltd
G Bodugaadhoshuge 1/F Rahdhebai Magu, Male |
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Country : |
Maldives |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
25 09 2000 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Resort and Spa Management and Development Company |
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
SIX SENSES LATITUDE LAAMU
Address
C/O OLHUVELI LAAMU HOLDING PVT LTD
G BODUGAADHOSHUGE 1/F RAHDHEBAI MAGU
MALE MALDIVES
Registered address
AT HEADING ADDRESS
Operating Address
AT C/O BUNNY
HOLDINGS BVI LTD 2/F 4/3 FAAMUDHERI MAGU MALE
Head Quarter
AT 19/F 2 PACIFIC PLACE BUILDING 142 SUKHUMVIT RD KLONGTOEY BANGKOK
Branches
AT LAAMU ATOLL MALE AND WORLDWIDE
Factory
NONE
Telephone 960 3444886 33448996 3326685
Fax No 960 3344997
Telex NONE
Date, Established
25 09 2000
Incorporation No
MV-6833 DATED 25 09 2000 [MAY BE CHANGED]
Legal Status
PRIVATE LIMITED COMPANY
Businesses
SUBJECT
IS A COMPANY OF SIX SENSES BVI THAILAND AND LOCATED ON PRIVATELY OWNED OLHUVELI
ISLAND LAAMU ATOLL MALDIVES, IT IS DESIGNED TO OFFER
INDIVIDUAL STYLE ALONG WITH A STRONG SENSE LUXURIOUS GUEST SERVICES, ITS A
RESORT AND SPA WHICH MANAGES BY SIX SENSES BVI UNDER BRAND NAME SIX SENSES, TOURISTS AND GUEST HOSPITALITY INCLUDING GREATER
NUMBER OF ACCOMMODATIONS IT OFFERS, ALSO OFFERS SPAS AND HOLISTIC WELLNESS
REJUVENATION AND BEAUTY TREATMENTS ADMINISTERED UNDER GUIDANCE OF EXPERT
THERAPISTS AND SPAS ARE ALSO HOSTED BY PRESTIGIOUS HOTELS AND RESORTS IN
OTHERLOCATIONS. OUTLETS ARE HANDCRAFTED STAINLESS STEEL ITEMS WOODWARE APPAREL ACCESSORIES FURNISHINGS DECORATIVE AND
EXCLUSIVE SKIN-CARE AND WELL EQUIPPED WITH HOT COLD WATER HAIR DRYER MINI BAR IDD PHONE SATELLITE TV SWIMMING POOL SAUNA JACUZZI DISCO SCUBA DIVING IMPORTERS OF
HOTELS RESORTS SPAS TOURISTS AND
TRAVELLERS REQUITES EQUIPMENT ETC
Board of Directors
SONU SHIVDASANI – CHAIRMAN/CEO
BERNHARD BOHNENBERGER - MANAGING DIRECTOR
MS MARIYAM NASHEEDA – MANAGER
KUTTAPPAN M V
JOANNE BROWN
JEAN-FRANÇOIS DEBON
Bankers
BANK OF MALDIVES LTD MALE / HABIB BANK LTD MALE
RELATION BETWEEN SUBJECT AND BANK ARE LEARNT TO BE GOOD
Payments
LEARNT TO BE PROMPT, NO PAYMENT TRACK HISTORY AVAILABLE
Financial Position
VERY GOOD. LEARNT, ADEQUATE RESOURCES AVAILABLE
Public
NOTHING HEARD DETRIMENTAL
Shareholders
SIX SENSES BVI THAILAND 100%
Associates
SIX SENSES PVT LTD/ SIX SENSES SOUTH PACIFIC BRIDAL MALDIVES LTD/
SIX SENSES VENTURE LTD/ SIX SEVEN SHOP/ SIX SHARE CAFÉ/ SIX STAR MALDIVES PVT
LTD/ SONEVA GILI RESORT & SPA +
Imports from
WORLDWIDE SOURCES
Court, bad credit
NO COURT ARBITRATION, NON-PAYMENT OR COLLECTION DISPUTES ARE LEARNT
Financial Information
BEING PRIVATE LIMITED COY FINANCIAL STATEMENT NEED NOT BE FILED
History
REPUTED CO, SUBJECT’S ALL FINANCES ARE CONTROLLED FROM H/O THAILAND
Buying/Selling term
PER 100% IRREVOCABLE
AND CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum [USD]
100000 CAN BE GRANTED
ON ANY AGREED SECURED AND PROTECTED TERM
Agency
NONE LEARNT
Trade Suppliers/Referees
NONE
Premises
OWNED BY SUBJECT
Employs
175 +
Member
OF A LOCAL CHAMBER OF COMMERCE AND OTHER TRADE ASSOCIATION
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 [PROVISIONAL & UNAUDITED]
LT ST INVESTMENTS 15.75
RECEIVABLE 28.30
INVENTORY 29.70
TOTAL CURRENT
ASSETS 73.75
FIXED ASSETS 40.00
TOTAL ASSETS 113.75
PAYABLE 26.90
LT FINANCIAL
LIABILITIES 10.50
TOTAL LIABILITIES 37.40
PAID UP 5.00
RESERVES/SURPLUS 41.55
DEFERRED LIABILITIES 29.80
TOTAL
LIABILTIES 113.75
TURNOVER APPROX 200.00
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%)