MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHA TEXTILES |
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Registered Office : |
14 Chandhani 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 : |
11 12 1978 |
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Legal Form : |
Proprietorship Company |
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Line of Business : |
Importers Stockists Wholesale
Retailing and General Merchant of Textiles Fabrics Garments all sorts
Cosmetics Canned Foods Confectionary
Plastic Ware and Consumer Goods General Merchandises |
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 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name and Address
ASHA TEXTILES
14 CHANDHANI MAGU
MALE MALDIVES
Registered address AT
HEADING ADDRESS
Operating Address AT HEADING ADDRESS
Telephone 960 3328888 3316666 3322782
Fax
960
3326666
Telex NONE
Branches NONE
Factory NONE
Date, Established
11 12 1978
Incorporation No
NOT REQUIRED / IRC NO 637 &
1638
Legal Status
PROPRIETORSHIP COMPANY
Businesses
IMPORTERS STOCKISTS WHOLESALE RETAILING
AND GENERAL MERCHANT OF TEXTILES FABRICS GARMENTS ALL SORTS COSMETICS CANNED FOODS CONFECTIONARY PLASTIC WARE AND
CONSUMER GOODS GENERAL MERCHANDISES
Board of Directors
MR HASSAN HALEEM - OWNER
Bankers
HABIB BANK LTD MALE
HK & SHANGHAI BANKING CORP
MALE'
Payments
PROMPT
Financial Position
VERY GOOD ADEQUATE RESOURCES
AVAILABLE
Shareholders
100% OWNERSHIP COMPANY
Associates
NONE
History
REPUTED CO
Buying/Selling term
PER 100% IRREVOCABLE AND CONFIRMED L/C
AT SIGHT DRWAN BASIS
Credit Maximum
[USD] 50000
CAN BE GRANTED ON MUTUAL AGREED SECURED AND PROTECTED TERM
Imports from
WORLDWIDE
Export to
NONE
Court, bad credit
NO COURT ARBITRATION, NON-PAYMENT/LOANS
DISPUTE ARE LEARNT
Agency
NONE
Trade Suppliers
NONE
Premises
[O] RENTED
BASIS - SIZE 2500 SQFT
[F] NONE
[W] NONE
Employs
20 +
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 [RS] / 000
FIXED ASSETS 12
500
CURRENT ASSETS
Stocks 21
265
Trade debtors 2 080
Prepayments 880
Bank & cash 1 175
25 400
CURRENT LIABILITIES
Trade creditors 11 735
Accrued charges 885
ST LT Loans & Bank O/D 3 655
16
275
CURRENT ASSETS LIABILITIES 9 125
NET TOTAL ASSETS 21 625
REPRESENTING BY
INVESTED CAPITAL 2 500
PROPRIETORS' F/D A/C &
PROPERTY 19 125
21
625
TURNOVER APPROX 85
000
Notes
Sole traders and partnerships are not
required by law to register.
Sole traders/partnerships are required
to register as a tax payer under EXISTING TAX RULE
As a Sole Trader/Partnership, there is
no Share Capital or Shareholders funds
Financial details of sole/partnership
trading are private to the Owner
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.26 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.63.53 |
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%)