MIRA INFORM REPORT
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Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
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Name : |
VILLA SHIPPING & TRADING CO PVT LTD |
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Registered Office : |
Villa Bldg Ibrahim Hassan Didi Magu, Male |
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Country : |
Maldives |
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Date of Incorporation : |
14.04.1986 |
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Legal Form : |
Private Limited |
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Line of Business : |
Provider of professional services, including: ·
Hotels ·
Resorts ·
Shipping ·
Warehousing |
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No. of Employees : |
1,000 |
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.
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 |
REGISTERED
NAME & COMPANY SUMMARY
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Company Details |
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Organization Name |
: |
VILLA SHIPPING & TRADING CO PVT LTD |
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Address |
: |
Villa Bldg Ibrahim Hassan Didi Magu, Male |
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Country |
: |
Maldives |
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Phone (S) |
: |
[+960]-3333300 |
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Facsimile |
: |
[+960]-3325177 |
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Email |
: |
info@villa.com.mv |
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Website |
: |
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Primary Business Activity |
: |
Service |
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Key Industry |
: |
Hotel, Entertainment & Recreation |
DIRECTORS/MANAGEMENT
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Key Person
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COMPANY
MANAGEMENT |
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Management
Listings |
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COMPANY
DIRECTORS |
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APPROVED
SIGNATURES |
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The Company Director/s listed below maintain the legal right to sign
on behalf of the company:
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NEGATIVE
INFORMATION
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REPUTATION |
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Reference checking for the purpose of establishing VILLA SHIPPING
& TRADING CO 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
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Capital |
: |
n/a(1) |
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SHAREHOLDERS |
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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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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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Europe |
Medium |
Importing |
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Belgium |
Medium |
Importing |
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Italy |
Medium |
Importing |
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Spain |
Medium |
Importing |
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OVERSEAS
SUPPLIERS |
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DOMESTIC
SUPPLIERS |
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GROUP
STRUCTURE & AFFILIATED COMPANIES
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RELATED PARTIES
(Subsidiaries, Joint-ventures & Affiliates) |
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The following provides a summary of the number of businesses that are
related to VILLA SHIPPING & TRADING CO PVT LTD: |
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Domestic |
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International |
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STRATEGIC
PARTNER/S & ALLIANCES |
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Group / Alliance name |
: |
VILLA GROUP OF COMPANIES |
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Recognition Status |
: |
The VILLA GROUP OF COMPANIES is not a formally registered business
entity name in Maldives. It is understood to be used by both the Subject
Business Entity (SBE), as well as other overseas firms, to collectively
identify the network of independently owned companies participating in the
same industry sector and used primarily for collective marketing purposes. |
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Flagship Company |
: |
VILLA SHIPPING & TRADING CO PVT LTD |
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Country |
: |
Maldives |
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# |
Member companies belonging to VILLA GROUP OF COMPANIES |
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1 |
VILLA AIR PVT LTD |
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2 |
VILLA HAKATHA PVT LTD |
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3 |
VILLA HOLIDAYS PVT LTD |
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4 |
VILLA HOLIDAYS TOURISTIK GMBH |
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5 |
VILLA SHIPPING (S) PTE LTD |
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6 |
VILLA TECHNOLOGIES PVT LTD |
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7 |
VILLA TRAVELS & TOURS PVT LTD |
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ASSOCIATIONS |
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VILLA SHIPPING & TRADING CO PVT LTD are members of the following
associations: |
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Domestic Associations |
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FINANCIAL
INFORMATION
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Financials - Summary (Currency: USD - US Dollar)
Note: (*) Financials listed are the most recent available for this company. |
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FINANCIAL
STATEMENT - DETAILED |
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Income Statement |
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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. Although basic financials were obtained
for reference. |
FOREIGN
EXCHANGE RATES
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Today's Exchange rate |
: |
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ADDITIONAL
INFORMATION
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Key Facts |
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Registered Legal Address |
: |
Villa Bldg Ibrahim Hassan Didi Magu, Male |
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Operational Address |
: |
Villa Bldg Ibrahim Hassan Didi Magu, Male |
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Trading Name |
: |
FUN ISLAND RESORT |
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Issuing Authority |
: |
Ministry of Economic Development |
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License Number |
: |
C-0017/1986 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Private Company with Limited Liability |
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Legal Form |
: |
Private Limited |
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Legal Form - Abbreviation |
: |
PVT LTD |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
14 Apr, 1986 |
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Employees |
: |
1,000 |
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Report Details |
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Country |
: |
Maldives |
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Business Entity Name |
: |
VILLA SHIPPING & TRADING CO PVT LTD |
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Acronym |
: |
VSTC |
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Primary Business Activity |
: |
Service |
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Primary Industry |
: |
Hotel, Entertainment & Recreation |
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Office Contact Details |
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Operating Address |
: |
Villa Bldg Ibrahim Hassan Didi Magu, Male |
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Tel |
: |
[+960]-3333300 |
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: |
[+960]-3325195 |
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|
: |
[+960]-3316161 |
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: |
[+960]-3344804 |
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Fax |
: |
[+960]-3325177 |
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: |
[+960]-3344803 |
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: |
[+960]-3314565 |
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Email |
: |
info@villa.com.mv |
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Postal Details |
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P.O. Box |
: |
2073 20187 |
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Website Details |
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Website |
: |
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Status |
: |
Normal - operational |
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Country of Registration |
: |
Maldives |
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Ownership Type |
: |
Registered ownership by Subject Business Entity |
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Primary Products
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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 VILLA SHIPPING & TRADING CO PVT LTD
is Specialized professional services, including: Hotels Resorts Shipping Warehousing
Hotels Port agents Resort development Resort operators Resorts Shipping Warehousing |
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Supplementary Business |
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In addition to the core business, VILLA SHIPPING & TRADING CO PVT
LTD also is engaged in the following areas of business: Importing Importing - Finished products Trading Trading - Finished products |
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OTHER LICENSES |
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LOCAL BRANCHES
& MANAGEMENT |
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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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COMPANY HISTORY |
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AWARDS |
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# |
Award Name |
Awarded by |
Awarded Date |
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1 |
President's Trophy |
n/a |
1996 |
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2 |
President's Trophy |
n/a |
1998 |
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3 |
National Award |
n/a |
1999 |
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4 |
Partners in Excellence Award |
n/a |
2002 |
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5 |
National Award |
n/a |
2003 |
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6 |
Marque of Excellence Award |
n/a |
2004 |
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7 |
Neckermann Primo 2004 |
n/a |
2004 |
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8 |
Thomson Gold Medal 2004 |
n/a |
2004 |
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9 |
Gulet Hotel Award 2007 - Gulet Touristic |
n/a |
2007 |
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10 |
L Tour Ranking Award |
n/a |
2009 |
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11 |
Tez Worldberry 2009 |
n/a |
2009 |
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12 |
MATATO Maldives Travel Awards 2012 |
n/a |
2012 |
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13 |
Rookie of the Year Award 2012 |
n/a |
2012 |
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14 |
Tez Worldberry 2012 |
n/a |
2012 |
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15 |
World Luxury Hotel Awards 2012 |
n/a |
2012 |
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16 |
World Travel Awards 2012 |
n/a |
2012 |
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17 |
MATATO Maldives Travel Awards 2013 |
n/a |
2013 |
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18 |
Trip Advisor - Excellence Award 2013 |
n/a |
2013 |
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19 |
Trip Advisor - Excellence Award 2013 |
n/a |
2013 |
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20 |
World Luxury Hotel Awards 2013 |
n/a |
2013 |
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21 |
World Luxury Spa Awards 2013 |
n/a |
2013 |
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22 |
World Travel Awards 2013 |
n/a |
2013 |
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PREVIOUS CONTACT
DETAILS |
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NOTES
& COMMENTS
|
Note |
: |
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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
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|
1 |
Rs.102.28 |
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Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
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 |
|
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 |
-- |
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.