MIRA INFORM REPORT

 

 

Report Date :           

17.09.2011

 

IDENTIFICATION DETAILS

 

Name :

DHAFEENA PVT LTD

 

 

Registered Office :

2Fl STO Trade Centre Orchid, Magu, Male 20188

 

 

Country :

Maldives

 

 

Date of Incorporation :

21.11.2006

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trader of Electrical Equipment & Appliances

 

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 :

USD 2,000.00

 

 

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 – 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

:

DHAFEENA PVT LTD

Address

:

2Fl STO Trade Centre Orchid, Magu, Male 20188

Country

:

Maldives

Phone (S)

:

[+960]-3344707

Facsimile

:

[+960]-3345707

Email

 

naseer@corismaldives.com

Primary Business Activity

 

Trader

Key Industry

 

Electrical Equipment & Appliances

 

Key Facts

Registered Legal Address

:

2Fl STO Trade Centre Orchid, Magu, Male 20188

Operational Address

:

2Fl STO Trade Centre Orchid, Magu, Male 20188

License Number

:

C-856/2006

Legal Form

:

Private Limited

Operational Status of Business

:

Normal

Date of Registration

 

21 Nov, 2006

Employees

 

5

Capital

 

n/a(1)

 

Report Details

 

 

 

 

 

 

Country

:

Maldives

Business Entity Name

:

DHAFEENA PVT LTD

Primary Business Activity

:

Trader

Primary Industry

:

Electrical Equipment & Appliances

Office Contact Details

Operating Address

:

2Fl STO Trade Centre Orchid, Magu, Male 20188

Tel

:

[+960]-3344707

Fax

:

[+960]-3345707

Email

:

naseer@corismaldives.com

 

CREDIT RECOMENDATION

 

Current Credit Limit: USD 2,000.00

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Adam Naseer

Maldivian

Chairman

-

2

Mr. Mohamed Saeed

Maldivian

Manager

Administration

 

 

Management Details - 1

Personal Unique Identifier

:

MI02505317

Name

:

Mr. Adam Naseer

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI02505111

Name

:

Mr. Mohamed Saeed

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI02505317

Name

:

Mr. Adam Naseer

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

 

Currency

:

MVR - Maldives Rufiyaa

 

No.

Shareholders

Country

Shares

Number

Amount (MVR)

%

1

Mr. Adam Naseer

Maldives

n/a

n/a

90.00

2

Undisclosed Shareholders

n/a

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 - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

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

Computer peripheral equipment, nspf, and parts, nspf

3577

Trading

Computers Equip/Software

5045

Trading

Cooking stoves, ovens, and ranges, household type, and parts, nspf

3631

Trading

Dry cleaning & pressing machines

3582

Trading

Electrical Appliances

5064

Trading

Electro-mechanical household type appliances, nspf, and electro-thermic appliances, nspf, and parts & accessories, nspf

3634

Trading

Electronic computers

3571

Trading

General industrial machinery and equipment, and parts, nspf

3569

Trading

Household appliances, nspf, and parts, nspf

3639

Trading

Household laundry equipment

3633

Trading

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Automatic data process machines; magn reader, etc. computer hardware

8471

Trading

Electric domestic appliance parts

8509905500

Trading

Electric toasters

8516720000

Trading

Electrical machinery & equip. & parts; telecommunications equip., sound recorders, television recorders

8500

Trading

Electromech domestic appliances; parts

8509

Trading

Insulated wire, cable etc; opt sheath fib cables

8544

Trading

Radar apparatus, radio navig aid & remote cont appartus

8526

Trading

Radio and television transmission apparatus

8525206080

Trading

Refrigerators, freezers etc; heat pumps nesoi, parts

8418

Trading

Refrigerators, household type

8418290000

Trading

 

 

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Products / Materials / Services Description

Ranking

Activity

Household electronics

Primary

Trading

Oven

Primary

Trading

Portable radios

Primary

Trading

Refrigerators

Primary

Trading

Televisions

Primary

Trading

Toasters

Primary

Trading

Washing machines

Primary

Trading

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of DHAFEENA PVT LTD is:

General trading

 

 

 

 

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

REPUTATION

 

 

 

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

 

 

 

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.