MIRA
INFORM REPORT
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Report Date : |
01.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRIVILEGE SHIPPING & TRADING CO PVT LTD |
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Registered Office : |
Filaa Building 07-02 |
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Country : |
Maldives |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
14 04 1989 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Shipping Agents Custom Broker |
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
PRIVILEGE SHIPPING & TRADING CO PVT LTD
FILAA BUILDING 07-02
MALE MALDIVES
Registered address AT HEADING ADDRESS
Operating Address AT HEADING ADDRESS
Telephone
960 3329031
Fax 960
3329032
Telex NONE
Branches IN MALE AND OTHER COUNTRIES
Factory NONE
summary
Date, Established 14 04 1989
Incorporation No 1219/89 SMF DATED 14 04
1989
Legal Status PRIVATE
LIMITED COMPANY
BUSINESSES
SHIPPING AGENTS CUSTOM BROKER OWNER OF SHIP NAMED MV FORTUNA AND MV
RAINA BOTH
SHIPS PLY WITHIN MALDIVES ISLANDS AND INDIA AND SRILANKAN PORTS CARIES
GENERAL
CARGOES AND SHIP SUPPLIES AND
OPERATOR OF HOTELSAND RESORTS IMPORTER OF TRAVELLERS
REQUISITES AND CHARTERING SHIP FERRY BOAT AND
REALTED SHIPPING SERVICES
Production
NONE
Board of Directors
MOOSA DIDA – MANAGING DIRECTOR
M ADHIL
NASHEED AHMED
KOLI ALI UMAR MANIK
M ISMAIL OMAR
Bankers
STATE BANK OF INDIA MALE
Payments
PROMPT
Financial Position
VERY GOOD ADEQUATE
RESOURCES AVAILABLE
Shareholders
MOOSA DIDA 65 M ADHIL
20 NAHEED AHMED 15%
Associates
PRIVILEGE TRAVEL PVT
LTD
PRIVILEGE TOURS &
TRAVEL PVT LTD
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 TERMS
Imports from
WORLDWIDE
Export to
WORLDWIDE
Court, bad credit
NO COURT ARBITRATION, NON-PAYMENT/DISPUTE ARE LEARNT
Agency
NONE
Trade Suppliers
NONE
Premises
OWNED BY SUBJECT
Employs
150 +
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 2007 IN
RUPEES / 000 [PROVISIONAL & UN-AUDITED]
FIXED ASSETS 150 000
INVESTMENT 80 110
CURRENT ASSETS 285 725
515
835
LESS
CURRENT LIABILITIES 25 465
NET ASSETS 490
370
FINANCED BY
PAIDUP 20 000
RESERVES/SURPLUS 291 125
DEFERRED LIABILITIES 179 245
TOTAL 490
370
TURNOVER APPROX 650
000
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.96 |
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UK Pound |
1 |
Rs.80.26 |
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Euro |
1 |
Rs.63.08 |
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%)