MIRA INFORM REPORT
|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANA SHIPPING & TRADING PVT LTD |
|
|
|
|
|
|
Registered Office : |
Ma Penzee Villa, Male |
|
|
|
|
|
|
Country : |
Maldives |
|
|
|
|
|
|
Date of Incorporation : |
22.09.1998 |
|
|
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
|
|
Line of Business : |
Providing Transportation Service |
|
|
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Operation Closed |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Maldives |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALDIVES - ECONOMIC OVERVIEW
Tourism, Maldives' largest
economic activity, accounts for 28% of GDP and more than 60% of foreign
exchange receipts. Over 90% of government tax revenue comes from import duties
and tourism-related taxes. Fishing is the second leading sector, but the fish
catch has dropped sharply in recent years. Agriculture and manufacturing
continue to play a lesser role in the economy, constrained by the limited
availability of cultivable land and the shortage of domestic labor. Most staple
foods must be imported. In the last decade, real GDP growth averaged around 6%
per year except for 2005, when GDP declined following the Indian Ocean tsunami,
and in 2009, when GDP shrank by nearly 5% as tourist arrivals declined and
capital flows plunged in the wake of the global financial crisis. Falling
tourist arrivals and fish exports, combined with high government spending on
social needs, subsidies, and civil servant salaries contributed to a balance of
payments crisis, which was eased with a December 2009, $79.3 million IMF
standby agreement. However, after the first two disbursements, the IMF withheld
subsequent disbursements due to concerns over Maldives' growing budget deficit.
Maldives has had chronic budget deficits in recent years and the government's
plans to cut expenditures have not progressed well. A new Goods and Services
Tax (GST) on tourism was introduced in January 2011 and a new Business Profit
Tax is to be introduced during 2012. These taxes are expected to increase
government revenue by about 25%. The government has privatized the main airport
and is partially privatizing the energy sector. Tourism will remain the engine
of the economy. The Government of the Maldives has aggressively promoted
building new island resorts. Due to increasing tourist arrivals, GDP growth
climbed to 8% in 2010 and around 6% in 2011. Diversifying the economy beyond
tourism and fishing, reforming public finance, and increasing employment
opportunities are major challenges facing the government. Over the longer term
Maldivian authorities worry about the impact of erosion and possible global
warming on their low-lying country; 80% of the area is 1 meter or less above
sea level.
Source : CIA
REGISTERED
NAME & COMPANY SUMMARY
|
Official
Organization Name |
: |
ANA
SHIPPING & TRADING PVT LTD |
|
Address |
: |
2Fl STO
Trade Centre Orchid Magum, Male |
|
Country |
: |
Maldives |
|
Phone (S) |
: |
[+960]-3332009
|
|
Email |
: |
anashp@dhivehinet.net.mv |
|
Primary Business
Activity |
: |
Service |
|
Key
Industry |
: |
Transportation |
|
Registered
Legal Address |
: |
Ma Penzee
Villa, Male |
||
|
Operational
Address |
: |
2Fl STO
Trade Centre Orchid Magum, Male |
||
|
Issuing
Authority |
: |
Ministry of
Economic Development - National |
||
|
License
Number |
: |
C-0158/1998 |
||
|
License
Status |
: |
Under
insolvency proceedings. |
||
|
Legal
Form - Category |
: |
Private
Company with Limited Liability |
||
|
Legal
Form |
: |
Private
Limited |
||
|
Legal Form
- Abbreviation |
: |
PVT LTD |
||
|
Operational
Status of Business |
: |
Ceased
operations |
||
|
Date of
Registration |
: |
22 Sep,
1998 |
||
|
Capital |
: |
n/a(1) |
||
|
Note |
: |
|
DIRECTORS/MANAGEMENT
|
COMPANY
DIRECTORS |
|||||||||||||
|
NEGATIVE
INFORMATION
|
ADVERSE
DATA MONITORING |
|
SHARE
& SHARE CAPITAL INFORMATION
|
SHAREHOLDERS
|
|
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 Shareholders. |
PAYMENT
INFORMATION
N/a
GROUP
STRUCTURE & AFFILIATED COMPANIES
N/a
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
N/a
ADDITIONAL
INFORMATION
|
Report
Details |
|
|
|
|||||||||||||||||||||||||||
Primary
Products
|
Products
/ Materials / Services Description |
Activity |
|
Cargo
handling |
Service |
|
Freight
forwarders |
Service |
|
Shipping |
Service |
|
Shipping
agents |
Service |
|
SIC PRODUCT
CLASSIFICATION & ACTIVITY |
|||||||||
|
|
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY |
|||||||||
|
|
CORE
BUSINESS DESCRIPTION |
|
Core Business |
|
The
primary business focus of ANA SHIPPING & TRADING PVT LTD is Specialized
professional services, including: Freight
forwarders Shipping |
|
DOMESTIC
SALES & PURCHASES |
||||||
|
|
REPUTATION |
|
Reference
checking for the purpose of establishing the ANA SHIPPING & TRADING PVT
LTD's reputation within the respective industry failed to reveal any adverse
information. |
NOTES
& COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
|
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.