MIRA INFORM REPORT

Report Date :

17.01.2012

IDENTIFICATION DETAILS

Name :	HARDWARE LINE PVT LTD
Registered Office :	G Anbareege Faashana Kilegemagu, Male
Country :	Maldives
Year of Establishment :	2008
Legal Form :	Private Company with Limited Liability
Line of Business :	Importer of Hardware & Tools
No. of Employees :	12

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 5,000.00
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	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	:	HARDWARE LINE PVT LTD
Address	:	G Anbareege Faashana Kilegemagu, Male
Country	:	Maldives
Phone (S)	:	[+960]-3343545
Facsimile	:	[+960]-3343546
Email	:	hardwareline@bhinet.net.mv
Primary Business Activity	:	Importer
Key Industry	:	Hardware & Tools

Registered Legal Address	:	G Anbareege Faashana Kilegemagu, Male
Operational Address	:	G Anbareege Faashana Kilegemagu, Male
Issuing Authority	:	Ministry of Economic Development - National
License Number	:	C-0844/2008
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	:	2008
Employees	:	12
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	:	HARDWARE LINE PVT LTD
Primary Business Activity	:	Importer
Primary Industry	:	Hardware & Tools
Office Contact Details
Operating Address	:	G Anbareege Faashana Kilegemagu, Male
Tel	:	[+960]-3343545
Fax	:	[+960]-3343546
Email	:	hardwareline@bhinet.net.mv

CREDIT RECOMENDATION

Current Credit Limit: USD 5,000.00 based on  90 days

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Hassan Aziz	Maldivian	Manager	-

Management Details - 1

Personal Unique Identifier	:	MI03065120
Name	:	Mr. Hassan Aziz

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03065121
Name	:	Mr. Adam Naseer
Nationality	:	Maldivian
2
Personal Unique Identifier	:	MI03065123
Name	:	Mr. Maryam Naseeba
Nationality	:	Maldivian
3
Personal Unique Identifier	:	MI03065122
Name	:	Mr. Shabeer Ahmed
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	:	3
Total number of shares	:	n/a

No.	Shareholders	Country	Shares
			Number	Amount	%
1	Mr. Adam Naseer	Maldives	n/a	n/a	n/a
2	Mr. Maryam Naseeba	Maldives	n/a	n/a	n/a
3	Mr. Shabeer Ahmed	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 - Secured with Post-dated checks 30~60 days

Purchasing

Type	Terms
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	Importing
Hardware	5072	Importing
Hardware, nspf	3429	Importing
Lighting equipment, nspf (including commercial)	3648	Importing

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Hardware, fixtures, castors etc & parts, base metal	8302	Importing
Lamps & lighting fittings & parts etc	9405	Importing

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of HARDWARE LINE PVT LTD is:

· Importing - Finished products

An integral part of the core business includes:

• Distribution

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

Annual Purchases Analysis	Percentage
Imports	100%

REPUTATION

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

LOCAL BRANCHES & MANAGEMENT

Branch	:	HARDWARE LINE PVT LTD - MALE
Branch Address	:	L Atoll Fihaara Hulhangubai Boduthakurufaanu Magu, Male

INTERNATIONAL TRADE : ACTIVITY & MARKETS

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
Middle-East	Medium	Importing
India	Medium	Importing
Malaysia	Medium	Importing
Thailand	Medium	Importing
United Arab Emirates	Medium	Importing

OFFICE & FACILITIES

Name	:	HARDWARE LINE PVT LTD - MALE
Address	:	G Anbareege Faashana Kilegemagu, Male
Country	:	Maldives
Status	:	Operational

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.65
UK Pound	1	Rs.79.09
Euro	1	Rs.65.32

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.