MIRA INFORM REPORT
|
Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANGIRI RESORTS MANAGEMENT & OPERATION PVT LTD |
|
|
|
|
Registered Office : |
2Fl M New Plot Ameenee, Magu, Male |
|
|
|
|
Country : |
Maldives |
|
|
|
|
Date of Incorporation : |
10.02.2001 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Provider of Hotel, Entertainment & Recreation Services |
|
|
|
|
No. of Employees : |
250 |
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 : |
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.
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.
|
Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
Company Details
|
Organization Name |
: |
ANGIRI RESORTS MANAGEMENT & OPERATION PVT LTD |
|
Address |
: |
2Fl M New Plot Ameenee, Magu, Male |
|
Country |
: |
Maldives |
|
Phone (S) |
: |
[+960]-3313523 |
|
Facsimile |
: |
[+960]-3313522 |
|
Email |
: |
info@thulhagiri.com.mv |
|
Website |
: |
|
|
Primary Business Activity |
: |
Service |
|
Key Industry |
: |
Hotel, Entertainment & Recreation |
|
Key Facts |
|
Registered Legal Address |
: |
2Fl M New Plot Ameenee, Magu, Male |
|
Operational Address |
: |
2Fl M New Plot Ameenee, Magu, Male |
|
Trading Name |
: |
THULHAAGIRI ISLAND RESORT |
|
Issuing Authority |
: |
Ministry of Economic Development - National |
|
License Number |
: |
C-183/2001 |
|
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 |
: |
10 Feb, 2001 |
|
Employees |
: |
250 |
|
Capital |
: |
n/a(1) |
|
Note |
: |
(1) Not applicable. |
DIRECTORS/MANAGEMENT
Key Person
|
Legal Title |
: |
Managing Director |
|
Name |
: |
Mr. Mohamed Nameem |
|
Nationality |
: |
Maldivian |
|
COMPANY
DIRECTORS |
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
NEGATIVE
INFORMATION
|
REPUTATION |
|
Reference checking for the purpose of establishing ANGIRI RESORTS
MANAGEMENT & OPERATION PVT LTD's reputation within the respective
industry failed to reveal any adverse information. |
|
|
NEGA-SCAN -
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
|
DOMESTIC SALES
& PURCHASES |
||||||
|
|
DOMESTIC
SUPPLIERS |
||||
|
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 |
|
Resort & hotel management |
Service |
|
Resort accommodations |
Service |
|
Resort operators |
Service |
|
Resorts |
Service |
|
SIC PRODUCT CLASSIFICATION & ACTIVITY |
||||||||||||
|
|
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
||||||||||||
|
|
CORE BUSINESS
DESCRIPTION |
|
Core Business |
|
The primary business focus of ANGIRI RESORTS MANAGEMENT &
OPERATION PVT LTD is Specialized professional services, including: Resorts
Resort & hotel management Resort accommodations Resort operators |
|
LOCAL BRANCHES
& MANAGEMENT |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OFFICE &
FACILITIES |
|||||||||||||||
|
The following information relates to the Business Entity's office as
listed above: |
|||||||||||||||
|
NOTES
& COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.16 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.82.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NNA |
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.