MIRA INFORM REPORT

Report Date :

17.09.2011

IDENTIFICATION DETAILS

Name :	CORAL GATE MALDIVES PVT LTD
Registered Office :	G Selvio, Male
Country :	Maldives
Date of Incorporation :	24.07.2003
Legal Form :	Private Company with Limited Liability
Line of Business :	Trader of Food Products

RATING & COMMENTS

MIRA’s Rating :

B

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

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 – March 31^st, 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	:	CORAL GATE MALDIVES PVT LTD
Address	:	M Noohiri, Male
Country	:	Maldives
Phone (S)	:	[+960]-3338780
Email	:	coralgate@gmail.com
Primary Business Activity	:	Trader
Key Industry	:	Food Products

Key Facts

Registered Legal Address		:	G Selvio, Male
Operational Address		:	M Noohiri, Male
License Number		:	C-0216/2003
Issuing Authority		:	Ministry of Trade & Industries
Legal Form - Category		:	Private Company with Limited Liability
Legal Form		:	Private Limited
Operational Status of Business		:	Normal
Date of Registration		:	24 Jul, 2003
Employees		:	30
Capital			n/a^(1)
	Report Details

Country	:	Maldives
Business Entity Name	:	CORAL GATE MALDIVES PVT LTD
Primary Business Activity	:	Trader
Primary Industry	:	Food Products
Office Contact Details
Operating Address	:	M Noohiri, Male
Tel	:	[+960]-3338780
Mobile	:	[+960]-7778780
Email	:	coralgate@gmail.com info@coralgate.co.mv

CREDIT RECOMENDATION

Current Credit Limit: No credit limit recommended.

DIRECTORS/MANAGEMENT

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI02482523
Name	:	Mr. Ahmed Shareef
Nationality	:	Maldivian
2
Personal Unique Identifier	:	MI02481992
Name	:	Mr. Mohamed Shareef
Nationality	:	Maldivian

Based on corporate statutory laws /regulations in Maldives, there is no requirement for public disclosure of Director. In this case, the Director 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.

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

Total number of shareholders	:	2
Total number of shares	:	n/a

No.	Shareholders	Country	Shares
			Number	Amount	%
1	Mr. Ahmed Shareef	Maldives	n/a	n/a	n/a
2	Mr. Mohamed Shareef	Maldives	n/a	n/a	n/a
Total			n/a	n/a	n/a

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 - Unsecured 30~60 days
Export	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Received at time of transaction

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 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
Construction Materials, NEC	5039	Trading
Fish & Seafoods	5146	Trading
Food products, nspf	2099	Trading
Heavy Construction, NEC	1629	Service
Transportation Services	4700	Service

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Cucumbers and gherkins, fresh or chilled	0707	Trading
Food preparations	2106	Trading
Freight transportation arrangement, nvocc, customs brokerage	9852	Service
Heavy construction	9818	Service
Nails, tacks, drawing pins, staples etc of iron or steel nesoi, not with smooth shank, galvanized, made of round wire, of one piece construction	7317005570	Trading
Prep or pres fish; caviar & caviar substitutes	1604	Trading
Tuna, albacore (thunnus alalunga) not in oil, in airthigh containers over 7 kg each	1604143020	Trading

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Tuna	Primary	Trading
Construction	Secondary	Service
Logistics	Secondary	Service

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of CORAL GATE MALDIVES PVT LTD is:

General trading

Supplementary Business

In addition to the core business, CORAL GATE MALDIVES PVT LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

Service

Specialized professional services

Construction

Logistics

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	70%
International Sales (Export)	30%

Annual Purchases Analysis	Percentage
Local Purchases	80%
Imports	20%

REPUTATION
Reference checking for the purpose of establishing the CORAL GATE MALDIVES PVT LTD's reputation within the respective industry failed to reveal any adverse information.
	INTERNATIONAL TRADE : ACTIVITY & MARKETS

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing, Exporting
North America	Medium	Exporting
China	Medium	Exporting
Hong Kong	Medium	Exporting
India	Medium	Importing
Japan	Medium	Exporting
Malaysia	Medium	Importing
Singapore	Medium	Importing
Sri Lanka	Medium	Exporting
USA	Medium	Exporting

OFFICE & FACILITIES

Name	:	CORAL GATE MALDIVES PVT LTD - MALE
Address	:	M Noohiri, Male
Country	:	Maldives
Status	:	Operational

PREVIOUS CONTACT DETAILS

Company Address	:	M Kehekshaan, Male
Phone Number	:	960-  -3336663
Fax Number	:	960-  -3336664

ASSOCIATIONS

Domestic Associations

Association Name

MALDIVES ASSOCIATION OF CONSTRUCTION INDUSTRY - MACI

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.47
UK Pound	1	Rs.74.96
Euro	1	Rs.65.79

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.