MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Name :

GRAPE EXPECTATIONS PVT LTD

 

 

Registered Office :

3Fl H Coal Field Kalhuhuraa, Magu, Male

 

 

Country :

Maldives

 

 

Date of Incorporation :

31.03.2011

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Importer of Beverages, spirits & vinegar

 

 

No. of Employees :

17

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New company

 

 

Payment Behaviour :

Unknown

 

 

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

:

GRAPE EXPECTATIONS PVT LTD

Address

:

3Fl H Coal Field Kalhuhuraa, Magu, Male

Country

:

Maldives

Phone (S)

:

[+960]-3006714

Facsimile

:

[+960]-3006716

Email

:

stefano@fbsynergy.it

Primary Business Activity

:

Importer

Key Industry

:

Beverages

 

Key Facts

 

Registered Legal Address

:

3Fl H Coal Field Kalhuhuraa, Magu, Male

Operational Address

:

3Fl H Coal Field Kalhuhuraa, Magu, Male

Trading Name

:

GRAPE EXPECTATIONS BONDED WAREHOUSE

Issuing Authority

:

Ministry of Economic Development - National

License Number

:

C-202/2011

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

:

31 Mar, 2011

Employees

:

17

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

:

GRAPE EXPECTATIONS PVT LTD

Primary Business Activity

:

Importer

Primary Industry

:

Beverages

Office Contact Details

Operating Address

:

3Fl H Coal Field Kalhuhuraa, Magu, Male

Tel

:

[+960]-3006714

Fax

:

[+960]-3006716

Email

:

stefano@fbsynergy.it

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chief Executive Officer - CEO

Name

:

Mr. Stefano Barbieri

Nationality

:

Maldivian

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Cindy Swiegelaarr

Maldivian

Representative

-

Management Details - 1

Personal Unique Identifier

:

MI02993056

Name

:

Ms. Cindy Swiegelaarr

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI02993054

Name

:

Mr. Stefano Barbieri

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

Due to the recent incorporation of the GRAPE EXPECTATIONS PVT LTD, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

 

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. Stefano Barbieri

Maldives

n/a

n/a

90.00

2

Undisclosed Shareholders

Maldives

n/a

n/a

10.00

Total

n/a

n/a

100.00

 

 

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

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 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

 

Today's Exchange rate

:

1.00 MVR
Maldives Rufiyaa

=

0.065445 USD
United States Dollars

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Cigar

Importing, Trading

Liquors

Importing, Trading

Wines

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Cigars

2121

Importing, Trading

Distilled, rectified, and blended liquors

2085

Importing, Trading

Wine/Distilled Alcohol Bev

5182

Importing, Trading

Wines, brandy, and brandy spirits

2084

Importing, Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Beverages, spirits & vinegar

2200

Importing, Trading

Cigarettes containing tobacco

2402209000

Importing, Trading

Wine of fresh grapes; grape must

2204

Importing, Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of GRAPE EXPECTATIONS PVT LTD is Importing - Finished products.

An integral part of the core business includes:

·                     Distribution

Supplementary Business

In addition to the core business, GRAPE EXPECTATIONS PVT LTD also is engaged in the following areas of business:

  1. Trading
    • Trading - Finished products

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

 

IMPORT AGENCY LISTING

Supplier

:

CHAMPAGNE PHILIPPONNAT SA

Global Identifier

:

P2095910

Country of Origin

:

France

Product Description

:

Liquors

Brand/s

:

#1

Champagne Philipponnat

Year

:

2011

 

INTERNATIONAL TRADE : ACTIVITY & MARKETS

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

South America

Medium

Importing

Australia

Medium

Importing

Chile

Medium

Importing

France

Medium

Importing

Italy

Medium

Importing

 

OFFICE & FACILITIES

Name

:

GRAPE EXPECTATIONS PVT LTD - MAGU, MALE

Address

:

3Fl H Coal Field Kalhuhuraa, Magu, Male

Country

:

Maldives

Status

:

Operational

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.