MIRA INFORM REPORT

 

 

 

 

Report Date :

05.05.2014

 

IDENTIFICATION DETAILS

 

Name :

STATE TRADING ORGANIZATION PLC

 

 

Registered Office :

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

 

 

Country :

Maldives

 

 

Financials (as on) :

2012 (Consolidated)

 

 

Date of Incorporation :

14.08.2001

 

 

Legal Form :

Public Listed Company

 

 

Line of Business :

Trader of Consumer products including :-

·         Canned foods

·         Cement

·         Construction materials

·         Consumable goods

·         Consumer electronics

·         Cookers

·         DVD (digital video discs)

·         DVD camcorders

·         Digital electronic

·         Domestic appliances

·         Flour

·         Health foods

 

 

No. of Employees :

1,202

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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. 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. Economic growth slowed to 3.4% of GDP in 2012, compared to 7.0% in 2011 because of slower tourist arrivals and weak global conditions. Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are major near-term challenges facing the government. Gross foreign reserves at the end of November 2012 were approximately $356 million, compared with $326 million in 2011, and were sufficient to finance only 2.6 months of imports. 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

:

STATE TRADING ORGANIZATION PLC

Address

:

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

Country

:

Maldives

Phone (S)

:

[+960]-3344332

Facsimile

:

[+960]-3344334

Email

:

info@stomaldives.net

Website

:

http://www.stomaldives.com

Primary Business Activity

:

Trader

Key Industry

:

Consumer Products

 

Key Facts

 

Registered Legal Address

:

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

 

Operational Address

:

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

 

Trading Name

:

STO PEOPLE'S CHOICE CONSTRUCTION MATERIALS
STO PEOPLE'S CHOICE ELECTRONICS
STO PEOPLE'S CHOICE FUEL & LUBRICANTS
STO PEOPLE'S CHOICE HOME IMPROVEMENT
STO PEOPLE'S CHOICE MEDICALS
STO PEOPLE'S CHOICE MEDICAL PHARMACY
STO PEOPLE'S CHOICE STAPLE FOODS
STO PEOPLE'S CHOICE SUPERMART
STO PEOPLE'S CHOICE SUPERMART PHARMACY

 

Name History

:

Business Entity Name

Effective Date

ATHIREEMAAFANNU TRADING ACCOUNT

20 Dec, 1964

STATE TRADING ORGANIZATION

9 Jun, 1979

STATE TRADING ORGANISATION LTD

28 Jun, 1998

STATE TRADING ORGANIZATION PLC

14 Aug, 2001

 

Issuing Authority

:

Ministry of Trade & Industries

 

License Number

:

C-186/2001

 

License Status

:

License exists - Normal.

 

Legal Form - Category

:

Public Listed Company

 

Legal Form

:

Public Limited Company

 

Legal Form - Abbreviation

:

PLC

 

Operational Status of Business

:

Normal

 

Date of Registration

:

14 Aug, 2001

 

Employees

:

1,202

 

Capital

:

US$ 3,754,240

 

Note

:

 

 

 

Report Details

 

 

Country

:

Maldives

Business Entity Name

:

STATE TRADING ORGANIZATION PLC

Acronym

:

STO

Primary Business Activity

:

Trader

Primary Industry

:

Consumer Products

Office Contact Details

Operating Address

:

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

Tel

:

[+960]-3344332

 

:

[+960]-3344333

 

:

[+960]-3344300

 

:

[+960]-3344394

Fax

:

[+960]-3344334

 

:

[+960]-3344342

 

:

[+960]-3344511

Email

:

info@stomaldives.net

Website Details

Website

:

http://www.stomaldives.com

Status

:

Normal - operational

Country of Registration

:

Maldives

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

CREDIT RECOMENDATION

 

Current Credit Limit:                USD $3,700,000

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Abdulla Faiz

Nationality

:

Maldivian

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Mohamed Nabeel Abdullah

Maldivian

General Manager

-

2

Mr. Ashraf Ali

Maldivian

General Manager

Administration

3

Mr. Shahid Ali

Maldivian

Managing Director

-

4

Ms. Fathimath Ashan

Maldivian

General Manager

Human Resources

5

Mr. Adam Azim

Maldivian

General Manager

Sales & Marketing

6

Mr. Musthafa Azmy

Maldivian

General Manager

Information Systems

7

Dr. Ibrahim Mahfooz

Maldivian

Auditor

-

8

Mr. Abdulla Shafeeu Mahmood

Maldivian

General Manager

Procurement

9

Ms. Sana Mansoor

Maldivian

Chief Financial Officer - CFO

-

10

Mr. Ibrahim Shareef Mohamed

Maldivian

General Manager

Corporate Affairs

11

Mr. Ahmed Niyaz

Maldivian

General Manager

Logistics

12

Ms. Aishath Shaffana Rasheed

Maldivian

General Manager

-

13

Mr. Ahmed Shaheer

Maldivian

General Manager

Business Development

14

Mr. Ahmed Shifan

Maldivian

General Manager

I.T.

15

Mr. Ibrahim Ziyath

Maldivian

General Manager

Planning

 

 

Management Details - 1

Personal Unique Identifier

:

MI02085068

Name

:

Mr. Mohamed Nabeel Abdullah

 

Email

:

hotels@stomaldives.net

Registered address

:

6Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

United Kingdom

UNIVERSITY OF SHEFIELD

Bachelor's Degree

Software Enterprise Management

United Kingdom

UNIVERSITY OF LINCOLNSHIRE AND HUMBERSIDE

Master's Degree

Information Technology

Other Positions

Country

Company name

Position

 

Maldives

MALDIVE GAS PVT LTD

Chairman

 

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI02085074

Name

:

Mr. Ashraf Ali

 

Email

:

admin@stomaldives.net

Registered address

:

3Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

Australia

UNIVERSITY OF BALLARAT

Master's Degree

Business Administration

United Kingdom

CHARTERED INSTITUTE OF MARKETING

Diploma

Marketing

Other Positions

Country

Company name

Position

 

Maldives

MALDIVE GAS PVT LTD

Director

 

 

 

 

Management Details - 3

Personal Unique Identifier

:

MI02485540

Name

:

Mr. Shahid Ali

 

Email

:

md.bureau@stomaldives.net

Registered address

:

7Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Date of appointment

:

20 Nov, 2008

Country

University / College name

Qualification

Major

Malaysia

INTERNATIONAL ISLAMIC UNIVERSITY

Bachelor's Degree

Accounting

Australia

AUSTRALIAN NATIONAL UNIVERSITY

Master's Degree

Management

 

 

Management Details - 4

Personal Unique Identifier

:

MI02085071

Name

:

Ms. Fathimath Ashan

 

Email

:

hrd@stomaldives.net

Registered address

:

1Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

United Kingdom

UNIVERSITY OF COVENTRY

Bachelor's Degree

Information Technology

United Kingdom

UNIVERSITY OF LINCOLN

Master's Degree

Business Administration

Other Positions

Country

Company name

Position

 

Maldives

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Director

 

 

 

 

Management Details - 5

Personal Unique Identifier

:

MI02951199

Name

:

Mr. Adam Azim

 

Email

:

sm@stomaldives.net

Registered address

:

STO Wholesale Centre Faalandhoshu Hingun Maafannu Male 20219

Country of Residence

:

Maldives

Date of appointment

:

Jul, 2010

Country

University / College name

Qualification

Major

United Kingdom

UNIVERSITY OF EAST LONDON

Bachelor's Degree

Accounting

United Kingdom

UNIVERSITY OF NOTTINGHAM

Master's Degree

Business Administration

 

 

Management Details - 6

Personal Unique Identifier

:

MI03543590

Name

:

Mr. Musthafa Azmy

 

Country

University / College name

Qualification

Major

United Kingdom

LONDON METROPOLITAN UNIVERSITY

Bachelor's Degree

Computer Science

Other Positions

Country

Company name

Position

 

Maldives

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Director

 

 

 

 

Management Details - 7

Personal Unique Identifier

:

MI02951186

Name

:

Dr. Ibrahim Mahfooz

 

Email

:

ia@stomaldives.net

Registered address

:

1Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

Australia

UNIVERSITY OF NEW CASTLE

Ph.D

Business Administration

United Kingdom

OXFORD BROOKS UNIVERSITY

Bachelor's Degree

Accounting

Australia

CHARLES STUART UNIVERSITY

Master's Degree

Business Administration

 

 

Management Details - 8

Personal Unique Identifier

:

MI02485608

Name

:

Mr. Abdulla Shafeeu Mahmood

 

Email

:

procurement@stomaldives.net

Registered address

:

5Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Date of appointment

:

2009

Previous Positions

Country

Company name

Position

 

Maldives

MALE' WATER & SEWERAGE CO PVT LTD

Company Secretary

 

 

 

 

Management Details - 9

Personal Unique Identifier

:

MI02085070

Name

:

Ms. Sana Mansoor

 

Email

:

finance@stomaldives.net

Registered address

:

2Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Date of appointment

:

20 Nov, 2008

Country

University / College name

Qualification

Major

Australia

GRIFFITH UNIVERSITY

Bachelor's Degree

Commerce

Previous Positions

Country

Company name

Position

 

Maldives

MALDIVES STRUCTURAL PRODUCTS PVT LTD

Director

 

Sri Lanka

STO LANKA PVT LTD

Director

 

 

Other Positions

Country

Company name

Position

 

Maldives

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Chairman

 

Maldives

MALDIVES SECURITIES DEPOSITORY CO PVT LTD

Director

 

Maldives

MALDIVES STOCK EXCHANGE COMPANY PVT LTD

Director

 

 

 

 

Management Details - 10

Personal Unique Identifier

:

MI02085067

Name

:

Mr. Ibrahim Shareef Mohamed

 

Email

:

cla@stomaldives.net

Registered address

:

3Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

United Kingdom

HUMBERSIDE POLYTECHNIC

Master's Degree

Management

Other Positions

Country

Company name

Position

 

Maldives

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Chairman

 

Maldives

MALDIVE GAS PVT LTD

Company Director

 

 

 

 

Management Details - 11

Personal Unique Identifier

:

MI02485611

Name

:

Mr. Ahmed Niyaz

 

Email

:

lgs@stomaldives.net

Registered address

:

Block 388 Handhuvaree Hingun Maafannu Male 20388

Country of Residence

:

Maldives

Date of appointment

:

7 May, 2012

Country

University / College name

Qualification

Major

United Kingdom

NORTHUMBRIA UNIVERSITY

Bachelor's Degree

Electronics & Electrical Engineering

Other Positions

Country

Company name

Position

 

Maldives

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Director

 

 

 

 

Management Details - 12

Personal Unique Identifier

:

MI02085064

Name

:

Ms. Aishath Shaffana Rasheed

 

Email

:

cs@stomaldives.net

Registered address

:

7Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Date of appointment

:

2004

Country

University / College name

Qualification

Major

Sri Lanka

AUSTRALIAN COLLEGE OF BUSINESS AND TECHNOLOGY

Bachelor's Degree

Management

 

 

Management Details - 13

Personal Unique Identifier

:

MI02085066

Name

:

Mr. Ahmed Shaheer

 

Email

:

bd@stomaldives.net,transport@stomaldives.net

Registered address

:

6Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Country

University / College name

Qualification

Major

Australia

UNIVERSITY OF CHARLES STUART

Bachelor's Degree

Marketing

Australia

UNIVERSITY OF ADELAIDE

Master's Degree

Business Administration

 

 

Management Details - 14

Personal Unique Identifier

:

MI02085073

Name

:

Mr. Ahmed Shifan

 

Email

:

ict@stomaldives.net

Registered address

:

4Fl STO Head Office Bldg Boduthakurufaanu Magu Male Maafannu 20345

Country of Residence

:

Maldives

Date of appointment

:

2004

Country

University / College name

Qualification

Major

United Kingdom

MIDDLESEX UNIVERSITY

Bachelor's Degree

Business Studies

New Zealand

AUCKLAND UNIVERSITY OF TECHNOLOGY

Master's Degree

Business Administration

 

 

Management Details - 15

Personal Unique Identifier

:

MI03533782

Name

:

Mr. Ibrahim Ziyath

 

Email

:

pnr@stomaldives.net

Registered address

:

STO Home Improvement Bldg Haveeree Hingun Maafannu Male 20219

Country of Residence

:

Maldives

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03533762

Name

:

Mr. Abdul Hadi Hussain Fulhu

Nationality

:

Maldivian

Date of Appointment

:

7 May, 2012

 

2

 

 

Personal Unique Identifier

:

MI03188393

Name

:

Mr. Abdulla Faiz

Nationality

:

Maldivian

Date of Appointment

:

7 May, 2012

 

3

 

 

Personal Unique Identifier

:

MI02485611

Name

:

Mr. Ahmed Niyaz

Nationality

:

Maldivian

Registered Address

:

Block 388 Handhuvaree Hingun Maafannu ,Male 20388

Country of Residence

:

Maldives

Date of Appointment

:

7 May, 2012

Other Positions

:

General Manager

 

4

 

 

Personal Unique Identifier

:

MI03188395

Name

:

Mr. Amir Mansoor

Nationality

:

Maldivian

Date of Appointment

:

7 May, 2012

 

5

 

 

Personal Unique Identifier

:

MI03411453

Name

:

Mr. Mohamed Farshath

Nationality

:

Maldivian

Date of Appointment

:

14 Jun, 2012

 

6

 

 

Personal Unique Identifier

:

MI02485540

Name

:

Mr. Shahid Ali

Nationality

:

Maldivian

Registered Address

:

7Fl STO Head Office Bldg Boduthakurufaanu ,Magu ,Male Maafannu 20345

Country of Residence

:

Maldives

Date of Appointment

:

20 Nov, 2008

 

7

 

 

Personal Unique Identifier

:

MI03188396

Name

:

Ms. Vizaad Ali

Nationality

:

Maldivian

Date of Appointment

:

7 May, 2012

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing the STATE TRADING ORGANIZATION PLC's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - 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

 

 

CAPITAL (Currency: MVR - Maldives Rufiyaa)

 

Share Value

:

50

Authorized Capital

:

57,777,750

Paid-up Capital

:

56,345,500

 

Date

Authorized Capital - History

2000

52,000,000

2001

53,302,000

2003

56,345,000

2004

57,777,750

 

 

SHAREHOLDERS

Total number of shareholders

:

Public shareholding traded via Stock Exchange

Total number of shares

:

1,126,910

 

Currency

:

MVR - Maldives Rufiyaa

 

No.

Shareholders

Country

Shares

Number

Amount (MVR)

%

1

REPUBLIC OF MALDIVES

Maldives

919,869

45,993,450

81.63

2

Public Shareholding traded via Stock Exchange

n/a

207,041

10,352,050

18.37

Total

1,126,910

56,345,500

100.00

 

 

 

 

PAYMENT INFORMATION

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

 

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Parent

:

REPUBLIC OF MALDIVES

Global Identifier

:

P1825628

Legal Form Category

:

Government-owned Organization

Country

:

Maldives

Operational Address

:

Boduthakurufaanu Magu Male 20113

Primary Business Activity

:

Service

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

 

 

 

 

 

The following provides a summary of the number of businesses that are related to STATE TRADING ORGANIZATION PLC:

 

 

TYPE

DOMESTIC

INTERNATIONAL

TOTAL

Africa

Asia / Pacific

Europe

Middle-East

North America

South America

TOTAL

Subsidiaries

5

-

1

-

-

-

-

1

Joint-Ventures

1

-

-

-

-

-

-

-

Minority shareholdings

3

-

-

-

-

-

-

-

Affiliates

3

-

-

-

-

-

-

-

 

 

 

Domestic

 

 

 

Business Entity Name

:

ADDU INTERNATIONAL AIRPORT PVT LTD

Global Identifier

:

P2337925

Country

:

Maldives

Relationship

:

Minority shareholding

Operational Address

:

Gan International Airport - Bldg 95, Addu 19070

Primary Business Activity

:

Service

Industry

:

Transportation

 

 

 

 

 

Business Entity Name

:

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

Global Identifier

:

P1129078

Country

:

Maldives

Relationship

:

Subsidiary

Operational Address

:

04-06 STO Trade Center Orchid, Magu, Male

Primary Business Activity

:

Service

Industry

:

Financial Services - Trade Insurance

 

 

 

 

 

Business Entity Name

:

BANK OF MALDIVES PLC

Global Identifier

:

P0766836

Country

:

Maldives

Relationship

:

Minority shareholding

Operational Address

:

BML Bldg 11 Boduthakurufaanu Magu, Male 200094

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

 

 

Business Entity Name

:

FUEL SUPPLIES MALDIVES PVT LTD

Global Identifier

:

P1129081

Country

:

Maldives

Relationship

:

Subsidiary

Operational Address

:

4Fl STO Aifaanu Bldg - Block A Boduthakurufaanu Magu, Male

Primary Business Activity

:

Trader

Industry

:

Petrochemicals

 

 

 

 

 

Business Entity Name

:

ISLAND AVIATION SERVICES LTD

Global Identifier

:

P0766914

Country

:

Maldives

Relationship

:

Affiliate

Operational Address

:

26 Ameer Ahmed, Magu, Male 20026

Primary Business Activity

:

Service

Industry

:

Transportation

 

 

 

 

 

Business Entity Name

:

LAFARGE MALDIVES CEMENT PVT LTD

Global Identifier

:

P1129086

Country

:

Maldives

Relationship

:

Minority shareholding

Operational Address

:

01-01 STO Trade Center Orchid Magu, Male 2002

Primary Business Activity

:

Trader

Industry

:

Construction & Construction Materials

 

 

 

 

 

Business Entity Name

:

MALDIVE GAS PVT LTD

Global Identifier

:

P1129082

Country

:

Maldives

Relationship

:

Subsidiary

Operational Address

:

1Fl H Maizaan Sosun Magu, Male

Primary Business Activity

:

Trader

Industry

:

Petrochemicals

 

 

 

 

 

Business Entity Name

:

MALDIVES MARKETING & PUBLIC RELATIONS CORP

Global Identifier

:

P2093034

Country

:

Maldives

Relationship

:

Affiliate

Operational Address

:

4Fl Velaanaage Bldg Ameer Ahmed, Magu, Male 20094

Primary Business Activity

:

Service

Industry

:

Professional Services

 

 

 

 

 

Business Entity Name

:

MALDIVES NATIONAL OIL CO LTD

Global Identifier

:

P1129085

Country

:

Maldives

Relationship

:

Subsidiary

Operational Address

:

Boduthakurufaanu Magu, Maafannu, Male

Primary Business Activity

:

Trader

Industry

:

Petrochemicals

 

 

 

 

 

Business Entity Name

:

MALDIVES PORTS LTD

Global Identifier

:

P2079082

Country

:

Maldives

Relationship

:

Affiliate

Operational Address

:

Boduthakurufannu Magu, Male 20250

Primary Business Activity

:

Service

Industry

:

Transportation

 

 

 

 

 

Business Entity Name

:

MALDIVES STRUCTURAL PRODUCTS PVT LTD

Global Identifier

:

P1129084

Country

:

Maldives

Relationship

:

Joint-Venture

Operational Address

:

2Fl Marlinspike Bldg 2/10 Alikilegefaanu Magu, Male

Primary Business Activity

:

Trader

Industry

:

Construction & Construction Materials

 

 

 

 

 

Business Entity Name

:

STO HOTELS & RESORTS PVT LTD

Global Identifier

:

P2883092

Country

:

Maldives

Relationship

:

Subsidiary

Operational Address

:

6Fl STO Head Office Bldg Boduthakurufaanu, Magu, Male Maafannu 20345

Primary Business Activity

:

Service

Industry

:

Professional Services

 

 

 

 

 

International

 

 

 

Business Entity Name

:

STO MALDIVES (SINGAPORE) PTE LTD

Global Identifier

:

P0364720

Country

:

Singapore

Relationship

:

Subsidiary

Operational Address

:

International Plaza 10 Anson Rd #39-10 079903

Primary Business Activity

:

Service

Industry

:

Professional Services

 

 

STRATEGIC PARTNER/S & ALLIANCES

 

 

 

 

Group / Alliance name

:

STO GROUP OF COMPANIES

Recognition Status

:

The STO 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.

Holding Company

:

STATE TRADING ORGANIZATION PLC

Country

:

Maldives

 

 

#

Member companies belonging to STO GROUP OF COMPANIES

1

ADDU INTERNATIONAL AIRPORT PVT LTD

2

ALLIED INSURANCE COMPANY OF THE MALDIVES PVT LTD

3

FUEL SUPPLIES MALDIVES PVT LTD

4

LAFARGE MALDIVES CEMENT PVT LTD

5

MALDIVE GAS PVT LTD

6

MALDIVES NATIONAL OIL CO LTD

7

MALDIVES STRUCTURAL PRODUCTS PVT LTD

8

STO HOTELS & RESORTS PVT LTD

9

STO MALDIVES (SINGAPORE) PTE LTD

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

616,600,942

357,628,679

12,532,809

2012 Annual  

603,953,898

372,042,159

15,497,800

2013 2nd Qtr  

192,123,377

296,756,000

n/a

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

 

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

 

Year

Sales

Assets

Net Income

2005 Annual

495,921,835

94,732,370

12,914,189

2006 Annual

456,062,901

117,688,859

12,565,200

2007 Annual

434,349,738

159,881,638

13,291,166

2008 Annual

501,383,802

168,105,656

14,640,027

2009 Annual

389,195,890

202,281,847

13,448,904

2010 Annual

370,493,157

208,780,510

11,170,412

 

FINANCIAL STATEMENT - DETAILED

 

 

 

Type: Consolidated

 

Balance Sheet

 

Currency

:

MVR

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Total Reserves

1,067,246,032

1,167,225,640

-

Assets 

Non Current Assets

724,822,930

1,566,429,542

1,796,571,028

Current Assets

1,947,567,599

3,923,170,673

3,936,598,640

Total Assets

2,672,390,529

5,489,600,215

5,733,169,668

Liabilities 

Non Current Liabilities

1,718,320

139,616,249

115,677,470

Current Liabilities

1,547,080,678

4,126,412,826

4,222,425,018

Total Liabilities

1,548,798,997

4,266,029,075

4,338,102,488

Capital and reserves 

Share Capital

56,345,500

56,345,500

56,345,500

Shareholders Funds

1,123,591,532

1,223,571,140

1,395,067,180

 

ASSETS 

Non-current assets 

Property, plant and equipment

642,493,854

1,310,198,503

1,454,077,367

Intangible asset

45,483,947

37,610,809

38,584,198

Deferred business profit tax assets

-

6,051,440

27,447,122

Investments in associates

4,160,192

14,849,733

52,517,898

Available-for-sale financial assets

32,684,938

151,810,318

166,653,410

Trade and other receivables

-

45,908,739

57,291,033

Total non-current assets

724,822,930

1,566,429,542

1,796,571,028

Current assets 

Inventories

318,305,007

784,813,048

601,656,752

I. Trade and other receivables

921,009,400

1,801,817,879

2,302,834,867

Reinsurance contracts

82,321,349

76,017,331

92,493,780

Investment held to maturity

42,904,097

316,768,099

70,684,817

Cash and cash equivalents

583,027,746

943,754,316

868,928,424

Total current assets

1,947,567,599

3,923,170,673

3,936,598,640

Total assets

2,672,390,529

5,489,600,215

5,733,169,668

EQUITY 

Share capital

56,345,500

56,345,500

56,345,500

Share premium

27,814,500

27,814,500

27,814,500

Claim equalization reserve

8,043,015

11,162,078

17,465,979

Currency translation reserve

372,643

604,793

246,165

General reserves

313,115,325

342,439,071

373,969,167

Fair value reserves

28,941,426

12,941,806

27,112,898

Retained earnings

683,170,495

766,704,667

885,444,861

Total

1,117,802,904

1,218,012,415

1,388,399,070

Non-controlling interest

5,788,628

5,558,725

6,668,110

Total equity

1,123,591,532

1,223,571,140

1,395,067,180

LIABILITIES 

Non-current liabilities 

Borrowings

-

112,334,776

92,489,882

Deferred revenue

1,718,320

1,205,988

2,320,119

Derivative financial instruments

-

26,075,485

17,390,510

Deferred business profit tax liabilities

-

-

3,476,959

Current liabilities 

Current tax liabilities

-

21,703,179

30,703,292

I. Derivative financial instruments

-

8,268,975

8,296,975

Trade and other payables

641,188,573

2,522,169,687

2,780,725,563

Insurance contracts

160,245,535

168,537,758

159,360,955

I. Borrowings

745,646,569

1,405,733,227

1,243,338,233

Total liabilities

1,548,798,997

4,266,029,075

4,338,102,488

Total equity and liabilities

2,672,390,529

5,489,600,215

5,733,169,668

 

 

Income Statement

 

Currency

:

MVR

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Turnover

4,742,312,415

9,464,824,457

9,306,929,571

Profit (Loss) Before Tax

147,871,354

208,030,350

267,178,001

Profit After Tax attributable to Shareholders

142,981,271

192,378,611

238,821,096

 

Revenue

4,742,312,414

9,464,824,457

9,306,929,571

Cost of sales

(4,054,142,854)

(8,637,190,022)

(8,077,857,832)

Gross profit

688,169,560

827,634,435

1,229,071,739

Other operating income

55,517,301

93,907,592

107,829,402

Total

-

921,542,027

1,336,901,141

Selling and marketing costs

(237,927,612)

(291,664,520)

(305,643,039)

Administrative expenses

(268,861,631)

(321,186,880)

(397,248,445)

Other operating expenses

(3,902,332)

(4,589,827)

(2,001,634)

Operating profit

232,995,286

304,100,800

632,008,023

Finance income

10,256,449

71,372,873

42,163,301

Finance costs

(95,538,231)

(168,132,864)

(438,661,488)

Finance costs - net

(85,281,782)

(96,759,991)

(396,498,187)

Share of profit of associates

157,850

689,541

31,668,165

Profit before tax

147,871,354

208,030,350

267,178,001

Business profit tax expense

(4,890,084)

(15,651,739)

(28,356,905)

Profit after tax

142,981,270

192,378,611

238,821,096

Attributable to: 

Equity holders of the parent / company

-

192,606,862

237,711,711

Non-controlling interests

-

(228,251)

1,109,385

I. Total

-

192,378,611

238,821,096

Earnings per share attributable to equity holders of the parent / Company during the year (expressed in MVR per share) - basic

-

171

210

 

 

Financial Ratios

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

(4.81)

99.58

(1.67)

Profitability 

Profit Margin (%)

3.02

2.03

2.57

Return on Equity (%)

12.73

15.72

17.12

Return on Assets (%)

5.35

3.50

4.17

Leverage 

Total Debt Equity (Times)

1.38

3.49

3.11

Current Debt Equity (Times)

1.38

3.37

3.03

Long Term Debt to Equity

0.00

0.11

0.08

Total Asset To Total Equity

2.38

4.49

4.11

Asset Management 

Total Assets Turnover (Times)

1.77

1.72

1.62

Fixed Assets Turnover (Times)

6.54

6.04

5.18

Liquidity 

Current Ratio

1.26

0.95

0.93

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 MVR
Maldives Rufiyaa

=

0.064977 USD
United States Dollars

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Canned foods

Importing, Trading

Cement

Importing, Trading

Construction materials

Importing, Trading

Consumable goods

Importing, Trading

Consumer electronics

Importing, Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Beet and cane sugar, molasses, and byproducts

2062

Importing, Trading

Canned and cured fish and seafoods

2091

Trading, Importing

Construction Materials, NEC

5039

Importing, Trading

Drugs/Druggists' Sundries

5122

Importing, Trading

Electrical Appliances

5064

Importing, Trading

Electronic & Electric Equip.

3600

Importing, Trading

Food and Kindred Products

2000

Trading, Importing

Food products, nspf

2099

Trading, Importing

Furniture

5021

Importing, Trading

General Merchandise Stores

5300

Service

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

Electric domestic appliance parts

8509904000

Trading, Importing

Electromech domestic appliances; parts

8509

Trading, Importing

Electronic integrated circuits & microassembl, parts

8542

Trading, Importing

Electronic integrated circuits ,nesoi, and microassemblies

8542500000

Trading, Importing

Food preparations

2106

Trading, Importing

Furniture nesoi and parts thereof

9403

Importing, Trading

Medical, surgical, dental or vet inst, no elec, part

9018

Trading, Importing

Miscellaneous manufactured articles

9600

Trading, Importing

Pharmaceutical products

3000

Trading, Importing

 

 

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Products / Materials / Services Description

Ranking

Activity

Cookers

Primary

Importing, Trading

DVD (digital video discs)

Primary

Importing, Trading

DVD camcorders

Primary

Importing, Trading

Digital electronic

Primary

Importing, Trading

Domestic appliances

Primary

Importing, Trading

Flour

Primary

Importing, Trading

Health foods

Primary

Importing, Trading

Home appliances

Primary

Importing, Trading

Industrial goods

Primary

Importing, Trading

Juicers

Primary

Importing, Trading

Roofing materials

Secondary

Importing, Trading

Supermarkets

Secondary

Service

Trade organization

Secondary

Service

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of STATE TRADING ORGANIZATION PLC is Trading - Finished products.

Key products include :

·                     Canned foods

·                     Cement

·                     Construction materials

·                     Consumable goods

·                     Consumer electronics

·                     Cookers

·                     DVD (digital video discs)

·                     DVD camcorders

·                     Digital electronic

·                     Domestic appliances

·                     Flour

·                     Health foods

·                     Home appliances

·                     Industrial goods

·                     Juicers

·                     Medical products

·                     Office furniture

·                     Petroleum products

·                     Pharmaceutical

·                     Plywoods

·                     Prescription drug

·                     Refrigerators

·                     Rice

·                     River sands

·                     Shavers

·                     Sugar

·                     Televisions

·                     Timber

·                     VCD (video compact discs)

·                     VCR

·                     Video camera

·                     Washers

 

 

 

Supplementary Business

 

In addition to the core business, STATE TRADING ORGANIZATION PLC also is engaged in the following areas of business:

1.            Importing

·                     Importing - Finished products

2.            Service

·                     Specialized professional services, including:

§     Supermarkets

 

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

 

 

 

STOCK EXCHANGE LISTING DETAILS

 

 

 

Country

:

Maldives

Name of Stock Exchange

:

Name

Acronym

MALDIVES STOCK EXCHANGE

MSE

Stock Symbol / No.

:

STO

Date of listing

:

15 Aug, 2001

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

BANK OF CEYLON

Global Identifier

:

P1047829

Branch

:

Male

Branch Address

:

Male 20006 (Head Office)

SWIFT Code

:

BCEYMVMV

 

Bank Name

:

BANK OF MALDIVES PLC

Global Identifier

:

P0766836

Branch

:

Male

Branch Address

:

BANK OF MALDIVES PLC - MALE

SWIFT Code

:

MALBMVMV

 

Bank Name

:

HABIB BANK LTD

Global Identifier

:

P0899936

Branch

:

Male

Branch Address

:

Ground Fl Ship Plaza 1/6 Orchid Magu Male 2002 (Head Office)

SWIFT Code

:

HABBMVMV

 

Bank Name

:

HONG KONG & SHANGHAI BANKING CORP LTD, THE

Global Identifier

:

P0324977

Branch

:

Male

Branch Address

:

Male

SWIFT Code

:

HSBCMVMV

 

Bank Name

:

STATE BANK OF INDIA

Global Identifier

:

P1066361

Branch

:

Male

Branch Address

:

Male

SWIFT Code

:

SBINMVMV

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAGU, MALE

Branch Address

:

Ground Fl Umar Shopping Arcade Chandhanee Magu, Magu, Male

Branch Email

:

electronics@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - KAAFU ATOLL

Branch Address

:

Funadhoo Island, Kaafu Atoll

Branch Email

:

fuel@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

Handhuvaree Hingun, Maafannu, Male

Branch Email

:

medical@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

Indhira Gandhi Memorial Hospital Kanba Aisa Rani Hingun, Maafannu, Male 20402

Branch Email

:

pharmacy@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

Block 393 Handhuvaree Hingun, Maafannu, Male 20393

Branch Email

:

staple@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - BAA ATOLL

Branch Address

:

Nolhi Magu Medhu Avah Eydhafushi, Baa Atoll

Branch Email

:

sto132@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - HAA ALIF ATOLL

Branch Address

:

Ghaazee Hingun Hoarafushi, Haa Alif Atoll

Branch Email

:

sto122@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - HULHUMALE, NORTH MALE ATOLL

Branch Address

:

Hulhumale Commercial Unit Bageechaa Hingun, Hulhumale, North Male Atoll

Branch Email

:

sto162@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - FONADHOO, LAAMU ATOLL

Branch Address

:

Block 32 Medhu Avah, Fonadhoo, Laamu Atoll

Branch Email

:

sto134@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - VILLLINGILI, GAAFU ALIFU ATOLL

Branch Address

:

Haveeree Hingun, Villlingili, Gaafu Alifu Atoll

Branch Email

:

sto163@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - THINADHOO, GAAFU DHAALU ATOLL

Branch Address

:

59 Dhaan'naa Magu, Thinadhoo, Gaafu Dhaalu Atoll

Branch Email

:

sto138@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - FUVAHMULAH, GNAVIYANI ATOLL

Branch Address

:

Velifaanu Magu Maadhandu, Fuvahmulah, Gnaviyani Atoll

Branch Email

:

sto136@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - SEENU ATOLL

Branch Address

:

Gan, Seenu Atoll

Branch Email

:

sto141@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - SEENU ATOLL

Branch Address

:

Orchid Magu Feydhoo, Seenu Atoll

Branch Email

:

sto123@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - SEENU ATOLL

Branch Address

:

Shaafee Hingun Maradhoofeydhoo, Seenu Atoll

Branch Email

:

sto159@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - SEENU ATOLL

Branch Address

:

Ziyaaraiyth Faanu Magu Hithadhoo, Seenu Atoll

Branch Email

:

sto137@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MALE

Branch Address

:

Ground Fl STO Trade Centre Orchid Magu Maafannu, Male 20188

Branch Email

:

supermart@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

Haveeree Hingun, Maafannu, Male 20219

Branch Email

:

home_imp@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - HAA DHAALU ATOLL

Branch Address

:

Funavalu Magu Kulhudhuffushi, Haa Dhaalu Atoll

Branch Email

:

sto165@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - ADDU ATOLL

Branch Address

:

Bahaandhee Magu (Bodu Magu) Hulhumeedhoo, Addu Atoll

Branch Email

:

sto164@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - HULHUMALE, NORTH MALE ATOLL

Branch Address

:

Hulhumale Commercial Unit Huvandhumaa Hingun, Hulhumale, North Male Atoll

Branch Email

:

pharmacyhm@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - VILIMALE, MALE

Branch Address

:

Kalhuthukkalaa Magu, Vilimale, Male

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

STO Home Improvement Bldg Haveeree Hingun, Maafannu, Male 20219

Branch Email

:

pnr@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

STO Wholesale Centre Faalandhoshu Hingun, Maafannu, Male 20219

Branch Email

:

sm@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

STO Peoples Choice Wholesale Centre Faalandhoshu Hingun, Maafannu, Male 20219

Branch Email

:

wholesale@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Branch Address

:

Block 388 Handhuvaree Hingun, Maafannu, Male 20388

Branch Email

:

lgs@stomaldives.net

 

Branch

:

STATE TRADING ORGANIZATION PLC - HAA DHAALU ATOLL

Branch Address

:

Kulhudhuffushi Regional Hospital Bandaara Magu Kulhudhuffushi, Haa Dhaalu Atoll

Branch Email

:

pharmacysr18@stomaldives.net

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

Middle-East

Medium

Importing

North America

Medium

Importing

 

 

 

 

AUDITORS

 

 

 

 

Auditor Name

PRICEWATERHOUSECOOPERS

 

 

 

 

OFFICE & FACILITIES

 

 

 

Name

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Address

:

STO Head Office Bldg Boduthakurufaanu Magu, Maafannu, Male 20345

Country

:

Maldives

Status

:

Operational

 

 

 

 

WAREHOUSING FACILITIES

 

 

 

Name

:

STATE TRADING ORGANIZATION PLC - MACHCHANGOLHI, MALE

Address

:

Koshi 7 Block 240 Ameenee Magu, Machchangolhi, Male 20240

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - HULHUMALE, NORTH MALE ATOLL

Address

:

Plot M2-01, M2-02, M2-03 Midhili Magu, Hulhumale, North Male Atoll

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MALE

Address

:

Block 120 K Thilafushi, Male

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - SEENU ATOLL

Address

:

Block 290 Gan, Seenu Atoll

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - HAA DHAALU ATOLL

Address

:

Bandaara Magu Kulhudhuffushi, Haa Dhaalu Atoll

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - HAA DHAALU ATOLL

Address

:

Harbour Area Kulhudhuffushi, Haa Dhaalu Atoll

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MACHCHANGOLHI, MALE

Address

:

Block 378 Boduthakurufaanu Magu, Machchangolhi, Male 20378

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MACHCHANGOLHI, MALE

Address

:

Koshi 5 Block 248 Ameenee Magu, Machchangolhi, Male 20248

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Address

:

Block 215 Haveeree Hingun, Maafannu, Male 20215

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Address

:

Block 388 Handhuvaree Hingun, Maafannu, Male 20388

Country

:

Maldives

Status

:

Operational

 

Name

:

STATE TRADING ORGANIZATION PLC - MAAFANNU, MALE

Address

:

Block 393 Handhuvaree Hingun, Maafannu, Male 20393

Country

:

Maldives

Status

:

Operational

 

 

 

 

TRADE SHOWS

 

 

 

Exhibition

Acronym

Country

Participating Year

Maldives Hotel & Trade Exhibition

MHTE

Maldives

2002, 2003, 2004, 2005, 2010

ICON IT Fair

n/a

Maldives

2005

Gulf Craft Int'l Boat Show

n/a

Maldives

2010

 

 

 

 

COMPANY HISTORY

 

 

 

Date

Details

1964 - Dec

Established as a government company.

1998 - Jun

Became a private company.

2001 - Aug

Changed legal form into a public limited company.

 

 

 

 

AWARDS

 

 

 

 

#

Award Name

Awarded by

Awarded Date

1

Best AVM Growth Award 2008

PHILIPS

n/a

 

 

 

 

QUALITY ACCREDITATION

 

 

 

Quality Accreditation Listings

 

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2008

 

 

 

 

APPROVED SIGNATURES

 

 

 

The Company Director/s listed below maintain the legal right to sign on behalf of the company:

Name

Mr. Abdul Hadi Hussain Fulhu

Mr. Abdulla Faiz

Mr. Mohamed Farshath

Mr. Shahid Ali

Ms. Sana Mansoor

 

 

 

 

PREVIOUS CONTACT DETAILS

 

 

 

Company Address

:

Block 5 Ameenee Magu, Male

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.23

UK Pound

1

Rs.101.68

Euro

1

Rs.83.46

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.