MIRA INFORM REPORT
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Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
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Name : |
ORGANIC TREE PVT LTD |
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Registered Office : |
M Fiyaathoshi Maage Fiyaathoshi, Magu, Male |
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Country : |
Maldives |
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Date of Incorporation : |
03.03.2011 |
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Legal Form : |
Private Limited |
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Line of Business : |
Importer of Consumer Products |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Maldives |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
MALDIVES ECONOMIC OVERVIEW
Tourism, Maldives' largest economic activity, accounts for nearly 30% of GDP and more than 60% of foreign exchange receipts. 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. Lower than expected 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 temporarily eased with a $79.3 million IMF Stand-By agreement. However, after the first two disbursements, the IMF withheld subsequent disbursements due to concerns over Maldives' growing budget deficit, and the government has been seeking other sources of budgetary support ever since. A new Goods and Services Tax (GST) on tourism introduced in January 2011, on general goods and services in October 2011, and a new Business Profit Tax introduced in July 2011 have provided a boost to revenue. In recent years, gross foreign reserves have hovered around $300 million, sufficient to finance about two to three months of imports. Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are other near-term 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
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Source
: CIA |
Company
name and address
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Organization Name |
: |
ORGANIC TREE PVT LTD |
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Address |
: |
M Fiyaathoshi Maage Fiyaathoshi, Magu, Male |
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Country |
: |
Maldives |
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: |
otreepvtltd@gmail.com |
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Primary Business Activity |
: |
Importer |
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Key Industry |
: |
Consumer Products |
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Registered Legzal Address |
: |
M Fiyaathoshi Maage Fiyaathoshi, Magu, Male |
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Operational Address |
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M Fiyaathoshi Maage Fiyaathoshi, Magu, Male |
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Issuing Authority |
: |
Ministry of Economic Development - National |
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License Number |
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Not Available(1) |
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License Status |
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License exists - Normal. |
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Legal Form - Category |
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Private Company with Limited Liability |
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Legal Form |
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Private Limited |
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Legal Form - Abbreviation |
: |
PVT LTD |
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Operational Status of Business |
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Normal |
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Date of Registration |
: |
3 Mar, 2011 |
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Employees |
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5 |
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Capital |
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n/a(2) |
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Note |
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Country |
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Maldives |
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Business Entity Name |
: |
ORGANIC TREE PVT LTD |
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Primary Business Activity |
: |
Importer |
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Primary Industry |
: |
Consumer Products |
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Office Contact Details |
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Operating Address |
: |
M Fiyaathoshi Maage Fiyaathoshi, Magu, Male |
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Mobile |
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[+960]-7555689 (*) |
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[+960]-7971041 (*) |
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[+960]-7970043 (*) |
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: |
otreepvtltd@gmail.com |
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Note (*): |
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There exists no known land
telephone line that is being used by the Subject Business Entity (SBE) in
connection to their business, which is uncommon in normal / regular
businesses. The SBE ONLY operates using a Mobile phone as the primary point
of contact. |
DIRECTORS/MANAGEMENT
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COMPANY MANAGEMENT |
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Management Listings |
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Management Details - 1 |
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COMPANY DIRECTORS |
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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
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REPUTATION |
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Reference checking for the purpose of establishing ORGANIC TREE PVT LTD's reputation within the respective industry failed to reveal any adverse information. |
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NEGA-SCAN - ADVERSE DATA MONITORING |
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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
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DOMESTIC SALES & PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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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
Primary Products
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Products / Materials / Services Description |
Activity |
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Beverages |
Importing, Trading |
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Biscuits |
Importing, Trading |
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Cleaning products |
Importing, Trading |
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Consumer products |
Importing, Trading |
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Cookies |
Importing, Trading |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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DETAILED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus
of ORGANIC TREE PVT LTD is Importing - Finished products. Beverages Biscuits Cleaning products Consumer products Cookies Cooking oil Cream biscuit Dairy products Juices Milk powder Pasta Powdered drink Shampoo & conditioner Soap & Detergents Toilet products
Distribution |
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Supplementary Business |
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In addition to the core business, ORGANIC TREE PVT LTD also is engaged in the following areas of business: Trading Trading - Finished products |
INTERNATIONAL TRADE - Activity & Markets
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Country / Region |
Estimated level of importance |
Trading Activity |
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Asia / Pacific |
Medium |
Importing |
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OFFICE &
FACILITIES |
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The following information relates to the Business Entity's office as listed above: |
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NOTES
& COMMENTS
N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.01 |
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1 |
Rs.101.99 |
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Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.