MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
COASTLINE HOTELS & RESORT [PVT] LTD |
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Registered Office : |
120
Majedhee 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 07 1994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers Distributors Agents
Consultant and Local Suppliers and General Merchant of Construction Materials
Engineering Goods Hardware Sanitary Wares and Petroleum Lubricants and Fuel Supplies Shipping Lines and
Agents Construction Consultancy Services Real Estate Property Hotels and Resorts Supplies
Operation Owner and Management |
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 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name and address
COASTLINE HOTELS & RESORT [PVT] LTD
120 MAJEDHEE MAGU MALE MALDIVES
Company Style found As
COASTLINE INVESTMENT PVT LTD
Address
120 MAJEDHEE MAGU
MAFANU MALE MALDIVES
Registered
address AT HEADING ADDRESS
Operating Address AT 74 BODUTHAKURUFAANU MAGU
MALE
Telephone 960 3312140 3324394
3331610 3341761 333395 3341759
Fax 960
3341761 3312139
Telex NONE
Branches AT
KAAFU THILAFUSHI MALE AND IN SINGAPORE AND SRI LANKA
Factory NONE
Date, Established
25 07 1994
Incorporation No
1361MF DATED 25 07 1994
Legal Status
PRIVATE LIMITED COMPANY
BUSINESSES
IMPORTERS DISTRIBUTORS AGENTS CONSULTANT
AND LOCAL SUPPLIERS AND GENERAL MERCHANT OF CONSTRUCTION MATERIALS ENGINEERING
GOODS HARDWARE SANITARY WARES AND PETROLEUM LUBRICANTS AND FUEL SUPPLIES SHIPPING LINES AND AGENTS
CONSTRUCTION CONSULTANCY SERVICES REAL ESTATE
PROPERTY HOTELS AND RESORTS SUPPLIES OPERATION OWNER AND MANAGEMENT
Board of Directors
HUSSAIN IBRAHIM – CHAIRMAN
KABIR HUSSAIN
HASMUT ALI
ZILLURE RAHMAN
FARIDUL ISLAM
IQBAL HUSSAIN
ABDUL KADIR
Bankers
STATE BANK OF MALDIVES MALE / STATE BANK OF INDIA MALE
Payments
PROMPT
Financial Position
VERY GOOD ADEQUATE RESOURCES AVAILABLE
Shareholders
COASTLINE GROUP OF COMPANIES 100% [NO FURTHER DETAILS REVEALED OR
DECLINED]
Associates
COASTLINE GROUP, COMPRISING OF: ASIAN GASOIL PVT LTD/ INTER ASIA
SHIPPING & TRADING PVT LTD COASTLINE PILLING & CONSTRUCTION PVT LTD/
COASTLINE HARDWARE/ COATSAL TRADERS /INTERASIA
LANKA LTD/ COASTLINE HOTELS & RESPORTS PVT LTD [LEARNT
PROPOSED + UNDER LEGAL COMPLIANCES]
History
REPUTED CO
Buying/Selling term
PER 100% IRREVOCABLE AND CONFIRMED L/C AT SIGHT DRWAN BASIS
Credit Maximum
[USD] 250000 CAN BE GRANTED
ON MUTUAL AGREED SECURED AND PROTECTED ERM
Imports from
WORLDWIDE
Export to
WORLDWIDE
Agency
INDOCEMENT ONGA PUMPS HUIDA SANITARY WARE ASIAN PAINTS ETC
Trade Suppliers
AS ABOVE
Premises
[Office] SUBJECT
OWNED, SIZE 2800 SQFT
[Warehouse] SUBJECT OWNED,
SIZE 140000 SQFT
Employs
700 +
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] [GROUP'S]
FIXED ASSETS 150 000
INVESTMENT 75
950
CURRENT ASSETS 435 805
661
555
LESS
CURRENT LIABILITIES 22 875
NET ASSETS 638 680
FINANCED BY
PAIDUP 5 000
RESERVES/SURPLUS 389
005
DEFERRED LIABILITIES
244 675
TOTAL 638 680
TURNOVER APPROX 850 000
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)