MIRA INFORM REPORT

 

 

Report Date :

13.04.2012

 

IDENTIFICATION DETAILS

 

Name :

HUSSAIN ABDULLAH & BROTHERS PVT LTD

 

 

Registered Office :

2Fl MHA Bldg 1/0 Orchid, Magu, Male

 

 

Country :

Maldives

 

 

Date of Incorporation :

29.03.2004

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trader and Importer of Consumer Products

 

 

No. of Employees :

27

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 40,000.00  

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Maldives

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

 

Organization Name

:

HUSSAIN ABDULLAH & BROTHERS PVT LTD

Address

:

2Fl MHA Bldg 1/0 Orchid, Magu, Male

Country

:

Maldives

Phone (S)

:

[+960]-3343695

Facsimile

:

[+960]-3327869

Email

:

mha@dhavehanet.net.mu

Primary Business Activity

:

Trader

Key Industry

:

Consumer Products

 

Key Facts

 

Registered Legal Address

:

2Fl MHA Bldg 1/0 Orchid, Magu, Male

Operational Address

:

2Fl MHA Bldg 1/0 Orchid, Magu, Male

Trading Name

:

MHA - MAROSHI HUSSAIN ABDULLA

Issuing Authority

:

Ministry of Trade & Industries

License Number

:

C-132/2004

License Status

:

License exists - Normal.

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

:

29 Mar, 2004

Employees

:

27

Capital

:

US$ 654,450

 

Report Details

 

 

Country

:

Maldives

Business Entity Name

:

HUSSAIN ABDULLAH & BROTHERS PVT LTD

Primary Business Activity

:

Trader

Primary Industry

:

Consumer Products

Office Contact Details

Operating Address

:

2Fl MHA Bldg 1/0 Orchid, Magu, Male

Tel

:

[+960]-3343695

 

:

[+960]-3323246

Fax

:

[+960]-3327869

Email

:

mha@dhavehanet.net.mu

Postal Details

P.O. Box

:

2018

Tax / VAT Details

Tax Issuing Authority

:

Maldives Inland Revenue Authority

Tax Number

:

19871

 

 

CREDIT recommendation

 

Current Credit Limit: USD 40,000.00  

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Hussain Abdulla

Nationality

:

Maldivian

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Ravichan Diran

Maldivian

General Manager

-

 

Management Details - 1

Personal Unique Identifier

:

MI02057897

Name

:

Mr. Ravichan Diran

 

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03117378

Name

:

Mr. Ahmed Abdullah

Nationality

:

Maldivian

2

 

 

Personal Unique Identifier

:

MI02056025

Name

:

Mr. Hussain Abdulla

Nationality

:

Maldivian

3

 

 

Personal Unique Identifier

:

MI03117376

Name

:

Mr. Mohamed Abdullah

Nationality

:

Maldivian

4

 

 

Personal Unique Identifier

:

MI03117375

Name

:

Mr. Usman Abdullah

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

 

 

REPUTATION

 

Reference checking for the purpose of establishing the HUSSAIN ABDULLAH & BROTHERS PVT LTD's reputation within the respective industry failed to reveal any adverse 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

:

10,000,000

 

 

 

 

SHAREHOLDERS

Total number of shareholders

:

4

Total number of shares

:

n/a

 

Currency

:

MVR - Maldives Rufiyaa

 

No.

Shareholders

Country

Shares

Number

Amount (MVR)

%

1

Mr. Ahmed Abdullah

Maldives

n/a

n/a

n/a

2

Mr. Hussain Abdulla

Maldives

n/a

n/a

n/a

3

Mr. Mohamed Abdullah

Maldives

n/a

n/a

n/a

4

Mr. Usman Abdullah

Maldives

n/a

n/a

n/a

Total

n/a

n/a

n/a

 

Today's Exchange rate

:

1.00 MVR
Maldives Rufiyaa

=

0.065445 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

Import

Letter of Credit (At-sight)

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

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

Business Entity Name

:

HUSSAIN ABDULLA & BROS

Global Identifier

:

P1109605

Country

:

Maldives

Relationship

:

Affiliate

Primary Business Activity

:

Importer

Industry

:

Consumer Products

 

 

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

 

Primary Products

Products / Materials / Services Description

Activity

Beverages

Importing, Trading

Cosmetics

Importing, Trading

Food products

Importing, Trading

Ice cream

Importing, Trading

Iced tea

Importing, Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Food and Kindred Products

2000

Importing, Trading

Food products, nspf

2099

Importing, Trading

Ice cream

2024

Importing, Trading

Malt beverages

2082

Importing, Trading

Toilet preparations

2844

Importing, Trading

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Beverages, spirits & vinegar

2200

Importing, Trading

Cosmetic creams, lotions, oils and balms

3304990010

Importing, Trading

Food preparations

2106

Importing, Trading

Ice cream and other edible ice, with cocoa or not

2105

Importing, Trading

Oils & resinoids, perfumery, cosmetic or toilet preparations

3300

Importing, Trading

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

 

The primary business focus of HUSSAIN ABDULLAH & BROTHERS PVT LTD is Trading - Finished products.

 

Supplementary Business

 

In addition to the core business, HUSSAIN ABDULLAH & BROTHERS 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

35%

Imports

65%

 

 

 

 

 

INTERNATIONAL TRADE : ACTIVITY & MARKETS

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

Middle-East

Medium

Importing

China

Medium

Importing

Germany

Medium

Importing

India

Medium

Importing

Indonesia

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

Malaysia

Medium

Importing

Pakistan

Medium

Importing

Singapore

Medium

Importing

Sri Lanka

Medium

Importing

Switzerland

Medium

Importing

Thailand

Medium

Importing

United Arab Emirates

Medium

Importing

United Kingdom

Medium

Importing

 

 

 

OFFICE & FACILITIES

 

Name

:

HUSSAIN ABDULLAH & BROTHERS PVT LTD - MAGU, MALE

Address

:

2Fl MHA Bldg 1/0 Orchid, Magu, Male

Country

:

Maldives

Status

:

Operational

 

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

Shop 1 MHA 1/28 Chandhanee, Magu, Male

Phone Number

:

960-  -323246

Fax Number

:

960-  -327869

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.44

UK Pound

1

Rs.81.96

Euro

1

Rs.67.60

 

 

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.