MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

EMERALD RESORTS PVT LTD

 

 

Registered Office :

H Male Thila Meheli Goalhi, Male 2005

 

 

Country :

Maldives

 

 

Year of Establishment :

1992

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Service provider of Hotel, Entertainment & Recreation

 

 

No. of Employees :

50

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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, 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

:

EMERALD RESORTS PVT LTD

Address

:

H Male Thila Meheli Goalhi, Male 2005

Country

:

Maldives

Phone (S)

:

[+960]-3325977

Facsimile

:

[+960]-3333897

Email

:

emerald@suntravelmaldives.com.mv

Website

:

http://www.sunholidays.com

Primary Business Activity

:

Service

Key Industry

:

Hotel, Entertainment & Recreation

 

Key Facts

Registered Legal Address

:

H Male Thila Meheli Goalhi, Male 2005

Operational Address

:

H Male Thila Meheli Goalhi, Male 2005

Issuing Authority

:

Ministry of Economic Development - National

License Number

:

C-66/92

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

:

1992

Employees

:

50

Capital

:

n/a(1)

 

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Zulaikha Manik

Maldivian

General Manager

Sales & Marketing

2

Mr. Ahmed Siyam Mohamed

Maldivian

Managing Director

-

Management Details - 1

Personal Unique Identifier

:

MI03156087

Name

:

Ms. Zulaikha Manik

 

Management Details - 2

Personal Unique Identifier

:

MI03156085

Name

:

Mr. Ahmed Siyam Mohamed

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03156085

Name

:

Mr. Ahmed Siyam Mohamed

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 EMERALD RESORTS 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

 

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

No.

Shareholders

Country

Shares

Number

Amount

%

1

SUN TRAVELS & TOURS PVT LTD

Maldives

n/a

n/a

51.00

Total

n/a

n/a

51.00

 

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

 

Na

 

 

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

 

Employees

:

50

 

Report Details

 

Country

:

Maldives

Business Entity Name

:

EMERALD RESORTS PVT LTD

Primary Business Activity

:

Service

Primary Industry

:

Hotel, Entertainment & Recreation

Office Contact Details

Operating Address

:

H Male Thila Meheli Goalhi, Male 2005

Tel

:

[+960]-3325977

Fax

:

[+960]-3333897

 

:

[+960]-3316035

Email

:

emerald@suntravelmaldives.com.mv
reservations@suntravel.com.mv

Website Details

Website

:

http://www.sunholidays.com

Status

:

Normal - operational

Country of Registration

:

Maldives

Ownership Type

:

Registered ownership by a related third party

Owner Country

:

Maldives

Owner Name

:

SUN TRAVELS & TOURS PVT LTD

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business Services

7300

Service

Hotels & Motels

7011

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

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of EMERALD RESORTS PVT LTD is Specialized professional services, including:

  • Hotels
  • Resorts

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent

:

SUN TRAVELS & TOURS PVT LTD

Global Identifier

:

P1243172

Country

:

Maldives

 

OFFICE & FACILITIES

Name

:

EMERALD RESORTS PVT LTD - MALE

Address

:

H Male Thila Meheli Goalhi, Male 2005

Country

:

Maldives

Status

:

Operational

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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.