MIRA INFORM REPORT

Report Date :

17.11.2011

IDENTIFICATION DETAILS

Correct Name :	LEISURE HOLIDAYS PVT LTD

Registered Office :	Lux Lobge, Maafannu, Male

Country :	Maldives

Date of Incorporation :	18.04.2005

Legal Form :	Private Company with Limited Liability

Line of Business :	Service provider of Hotel, Entertainment & Recreation

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 10,000.00

Status :	Moderate

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Maldives

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

Organization Name	:	LEISURE HOLIDAYS PVT LTD
Address	:	Kandooma Fushi, South Male Atoll
Country	:	Maldives
Phone (S)	:	[+960]-6640511
Facsimile	:	[+960]-6640513
Email		info@hikandooma.com
Website		http://www.holidayinn.com
Primary Business Activity		Service
Key Industry		Hotel, Entertainment & Recreation

Registered Legal Address	:	Lux Lobge, Maafannu, Male
Operational Address	:	Kandooma Fushi, South Male Atoll
Trading Name / DBA	:	HOLIDAY INN RESORT KANDOOMA MALDIVES
Issuing Authority	:	Ministry of Economic Development - National
License Number	:	C-0239/2005
Legal Form – Category	:	Private Company with Limited Liability
Legal Form	:	Private Limited
Legal Form - Abbreviation	:	PVT LTD
Operational Status of Business	:	Normal
Date of Registration	:	18 Apr, 2005
Employees	:	50
Capital	:	n/a⁽¹⁾
Note:		⁽¹⁾ Not applicable. According to the corporate statutory laws for this type of Legal Form - Category(Private Company with Limited Liability) in Maldives, there is no requirement for Authorized Capital.

Country	:	Maldives
Business Entity Name	:	LEISURE HOLIDAYS PVT LTD
Primary Business Activity	:	Service
Primary Industry	:	Hotel, Entertainment & Recreation
Office Contact Details
Operating Address	:	Kandooma Fushi, South Male Atoll
Tel	:	[+960]-6640511
	:	[+960]-6657137
Fax	:	[+960]-6640513
	:	[+960]-6650510
Email	:	info@hikandooma.com
Website Details
Website	:	http://www.holidayinn.com
Status	:	Normal - operational
Country of Registration	:	USA
Ownership Type	:	Registered ownership by a related third party
Owner Country	:	USA

CREDIT RECOMENDATION

Current Credit Limit: USD 10,000.00 based on 90 days

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Chris Batterham	Maldivian	General Manager	-
2	Ms. Peishih Loo	Maldivian	Assist. Manager	Finance

Management Details - 1

Personal Unique Identifier	:	MI03015472
Name	:	Mr. Chris Batterham

Management Details - 2

Personal Unique Identifier	:	MI03015473
Name	:	Ms. Peishih Loo
Email	:	psloo@hikandooma.com

COMPANY DIRECTORS

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Private Company with Limited Liability) in Maldives, there is no public disclosure of Directors.

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

SHAREHOLDERS

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Private Company with Limited Liability) in Maldives, there is no public disclosure of Shareholders.

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

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

ADDITIONAL INFORMATION

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Hotels & Motels	7011	Service
Hotels & Other Lodging Places	7000	Service

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Business services, health, financial/insur. legal/real estate, hotels, and misc repairs	9900	Service
Hotels and motels	9942	Service


	CORE BUSINESS DESCRIPTION

	Core Business
	The primary business focus of LEISURE HOLIDAYS PVT LTD is: Specialized professional services Hotel management Hotels Resorts

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

OTHER LICENSES

Issuing Authority	:	Ministry of Economic Development
License Number	:	LG-0651/2011
Date of Issuance	:	2011


	REPUTATION

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

OFFICE & FACILITIES

Name	:	LEISURE HOLIDAYS PVT LTD - SOUTH MALE ATOLL
Address	:	Kandooma Fushi, South Male Atoll
Country	:	Maldives
Status	:	Operational

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.90
UK Pound	1	Rs.80.30
Euro	1	Rs.68.48

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.

REGISTERED NAME & COMPANY SUMMARY

CREDIT RECOMENDATION

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

NOTES & COMMENTS

Unit