MIRA INFORM REPORT

 

 

Report Date :           

06.07.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ADK CO PVT LTD

 

 

Registered Office :

Silzer Leaf, Male

 

 

Country :

Maldives

 

 

Date of Incorporation :

20.06.1995

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trader of Medical Equipment & Pharmaceutical

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

100,000.00  USD

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Maldives

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

ADK CO PVT LTD

 

Address

:

6Fl ADK Tower Amira Mahad, Magu, Male

 

Country

:

Maldives

 

Phone (S)

:

[+960]-3008559

 

Facsimile

:

[+960]-3320437

 

Email

 

hr@adkcompany.com

 

Primary Business Activity

 

Trader

 

Key Industry

 

Medical Equipment & Pharmaceutical

 

Key Facts

 

Registered Legal Address

:

Silzer Leaf, Male

Operational Address

:

6Fl ADK Tower Amira Mahad, Magu, Male

License Number

:

C-0134/1995

Issuing Authority

 

Ministry of Trade & Industries - National

Legal Form

:

Private Limited

Operational Status of Business

:

Normal

Date of Registration

 

20 Jun, 1995

Employees

 

110

Capital

 

US$ 0

 

Report Details

 

 

Country

:

Maldives

Business Entity Name

:

ADK CO PVT LTD

Primary Business Activity

:

Trader

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

6Fl ADK Tower Amira Mahad, Magu, Male

Tel

:

[+960]-3008559

 

:

[+960]-3008558

 

:

[+960]-3300382

Fax

:

[+960]-3320437

Email

:

hr@adkcompany.com
info@adkcompany.com

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: 100,000.00  USD

 

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Fazla Hassan

Maldivian

Managing Director

-

2

Mr. S.m. Muzammil

Maldivian

General Manager

-

Management Details - 1

Personal Unique Identifier

:

MI02840585

Name

:

Ms. Fazla Hassan

 

 

Management Details - 2

Personal Unique Identifier

:

MI02840588

Name

:

Mr. S.m. Muzammil

 

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI02840585

Name

:

Ms. Fazla Hassan

Nationality

:

Maldivian

 

 

NEGATIVE INFORMATION

 

 

ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: MVR - Maldives Rufiyaa)

Authorized Capital

:

0

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

MVR - Maldives Rufiyaa

 

No.

Shareholders

Country

Shares

Number

Amount (MVR)

%

1

Ms. Fazla Hassan

Maldives

n/a

n/a

90.00

2

Undisclosed Shareholders

Maldives

n/a

n/a

10.00

Total

n/a

n/a

100.00

 

Today's Exchange rate

:

1.00 MVR
Maldives Rufiyaa

=

0.078125 USD
United States Dollars

 

Based on corporate statutory laws /regulations in Maldives, there is no requirement for public disclosure of Shareholders. In this case, the Shareholder information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Maldives, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Medical/Dental Equip/Supplies

5047

Importing, Trading

Pharmaceutical preparations

2834

Importing, Trading

Surgical and medical instruments and apparatus, nspf

3841

Importing, Trading

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Medical, surgical, dental or vet inst, no elec, part

9018

Importing, Trading

Medical, surgical, dental or veterinary furn etc

9402

Importing, Trading

Other instruments and appliances used in medical, surgical, dental or veterinary sciences

9018908000

Importing, Trading

Pharmaceutical goods (specified sterile prod etc.)

3006

Importing, Trading

Pharmaceutical products

3000

Importing, Trading

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

 

The primary business focus of ADK CO PVT LTD is:

General trading


An integral part of the core business includes:

Distribution - Chain stores

Distribution - Department stores

 

Supplementary Business

 

In addition to the core business, ADK CO PVT LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

REPUTATION

Reference checking for the purpose of establishing the ADK CO PVT LTD's reputation within the respective industry failed to reveal any adverse information.

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

ADK CO PVT LTD - MALE

Branch Address

:

Sosun Magu, Male

 

INTERNATIONAL TRADE : ACTIVITY & MARKETS

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

 

 

OFFICE & FACILITIES

 

Name

:

ADK CO PVT LTD - MAGU, MALE

Address

:

6Fl ADK Tower Amira Mahad, Magu, Male

Country

:

Maldives

Status

:

Operational

 

STRATEGIC PARTNER/S & ALLIANCES

 

 

Group / Alliance name

:

ADK GROUP

Recognition Status

:

The ADK GROUP is not a formally registered business entity name in Maldives. It is understood to be used by both the Subject Business Entity (SBE), as well as other overseas firms, to collectively identify the network of independently owned companies participating in the same industry sector and used primarily for collective marketing purposes.

 

 

NOTES & COMMENTS

 

Na

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.50

UK Pound

1

Rs.71.25

Euro

1

Rs.64.40

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.