MIRA INFORM REPORT

Report Date :

06.01.2012

IDENTIFICATION DETAILS

Correct Name :	LANDAA GIRAAVARU PVT LTD

Registered Office :	B Landaa Giraavaru, Baa Atoll

Country :	Maldives

Year of Establishment :	2004

Com. Reg. No.:	Not Available

Legal Form :	Private Company with Limited Liability

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

No. of Employees :	100

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 30,000.00

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

Company Details

Organization Name	:	LANDAA GIRAAVARU PVT LTD
Supplied Name	:	Yoosuf Hussain (Company Manager Name)
Address	:	B Landaa Giraavaru, Baa Atoll
Country	:	Maldives
Phone (S)	:	[+960]-6600888
Facsimile	:	[+960]-6600800
Email	:	reservations.mal@fourseasons.com
Website	:	http://www.fourseasons.com
Primary Business Activity	:	Service
Key Industry	:	Hotel, Entertainment & Recreation

Key Facts

Registered Legal Address	:	B Landaa Giraavaru, Baa Atoll
Operational Address	:	B Landaa Giraavaru, Baa Atoll
Trading Name	:	FOUR SEASONS RESORT MALDIVES AT LANDAA GIRAAVARU
Issuing Authority	:	Ministry of Trade & Industries - National
License Number	:	FC-0154/2004
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	:	2004
Employees	:	100
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.
Report Details

Country	:	Maldives
Business Entity Name	:	LANDAA GIRAAVARU PVT LTD
Acronym	:	LGPL
Primary Business Activity	:	Service
Primary Industry	:	Hotel, Entertainment & Recreation
Office Contact Details
Operating Address	:	B Landaa Giraavaru, Baa Atoll
Tel	:	[+960]-6600888
	:	[+960]-6600600
Fax	:	[+960]-6600800
	:	[+960]-6600700
	:	[+960]-6606298
Email	:	reservations.mal@fourseasons.com
Website Details
Website	:	http://www.fourseasons.com
Status	:	Normal - operational
Country of Registration	:	Canada
Ownership Type	:	Registered ownership by unrelated third party.
Owner Country	:	Canada
Owner Name	:	FOUR SEASONS HOTELS LTD

CREDIT RECOMENDATION

Current Credit Limit: USD 30,000.00

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Ruby Ahyuk	Maldivian	Representative	-
2	Mr. Thushara Gamage	Maldivian	Assist. Director	-
3	Mr. Yoosuf Hussain	Maldivian	Manager	Purchasing
4	Mr. Premnath Nair	Maldivian	Director	Finance

Management Details - 1

Personal Unique Identifier	:	MI03016767
Name	:	Ms. Ruby Ahyuk

Management Details - 2

Personal Unique Identifier	:	MI03016748
Name	:	Mr. Thushara Gamage
Email	:	thushara.gamage@fourseasons.com

Management Details - 3

Personal Unique Identifier	:	MI03053978
Name	:	Mr. Yoosuf Hussain

Management Details - 4

Personal Unique Identifier	:	MI03016768
Name	:	Mr. Premnath Nair

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

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

No.	Shareholders	Country	Shares
No.	Shareholders	Country	Number	Amount	%
1	HPL RESORTS (MALDIVES) PVT LTD	Maldives	n/a	n/a	n/a
2	Undisclosed Shareholders	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

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
Eating and Drinking Places	5800	Service
Hotels & Other Lodging Places	7000	Service
Sporting & Recreational Camps	7032	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
Sporting and recreational camps	9944	Service

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of LANDAA GIRAAVARU PVT LTD is:

Specialized professional services

Hotels

Resorts

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent	:	HPL RESORTS (MALDIVES) PVT LTD
Global Identifier	:	P0310286
License Number	:	C-179/93
Country	:	Maldives
Indirect Parent	:	HPL HOTELS & RESORTS PTE LTD
Global Identifier	:	P0310344
License Number	:	1997045282
Country	:	Singapore

REPUTATION

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

OFFICE & FACILITIES

Name	:	LANDAA GIRAAVARU PVT LTD - BAA ATOLL
Address	:	B Landaa Giraavaru, Baa Atoll
Country	:	Maldives
Status	:	Operational

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.78
UK Pound	1	Rs.82.33
Euro	1	Rs.68.19

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