MIRA
INFORM REPORT
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Report No. : |
332973 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
EFZY HOLDINGS PVT LTD |
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Registered Office : |
2Fl (East Wing) Aage 12 Boduthakurufaanu, Magu, Male 20094 |
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Country : |
Maldives |
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Date of Incorporation : |
05.08.2007 |
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Legal Form : |
Private Limited |
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Line of Business : |
Providing Professional Services. |
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No. of Employees : |
Not Available |
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. In August 2014 the Maldives’
Parliament passed a bill to create special economic zones, a step aimed at
attracting investment and diversifying the economy away from tourism and
fishing. The Maldives’ took some steps to reduce the fiscal deficit in 2015,
such as imposing a green tax on tourist establishments and raising import
duties, but the deficit will grow because of increasing public expenditure.
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Source
: CIA |
REGISTERED NAME & COMPANY SUMMARY
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Company Details |
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Organization Name |
: |
EFZY HOLDINGS PVT LTD |
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Address |
: |
2Fl (East Wing) Aage 12 Boduthakurufaanu,
Magu, Male 20094 |
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Country |
: |
Maldives |
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Phone (S) |
: |
[+960]-3333644 |
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Facsimile |
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[+960]-3315453 |
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Email |
: |
abdulsattar@travco.com |
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Primary Business Activity |
: |
Service |
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Key Industry |
: |
Professional Services |
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Key Facts |
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Registered Legal Address |
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2Fl (East Wing) Aage 12 Boduthakurufaanu,
Magu, Male 20094 |
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Operational Address |
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2Fl (East Wing) Aage 12 Boduthakurufaanu,
Magu, Male 20094 |
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Issuing Authority |
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MINISTRY OF ECONOMIC DEVELOPMENT - National |
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License Number |
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C-0703/2007 |
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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 |
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PVT LTD |
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Operational Status of Business |
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Corporate
Secretarial Services office ONLY |
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Date of Registration |
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5 Aug, 2007 |
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Capital |
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n/a (1) |
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Note |
: |
(1) Not
applicable. |
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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NEGATIVE INFORMATION
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REPUTATION |
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Reference checking for the purpose of
establishing EFZY HOLDINGS 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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SHAREHOLDERS |
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PAYMENT INFORMATION
N/A
GROUP STRUCTURE & AFFILIATED COMPANIES
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DIRECT / INDIRECT CORPORATE PARENT DETAILS |
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FINANCIAL INFORMATION
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FINANCIAL STATEMENT - DETAILED |
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Based on the corporate laws of Maldives,
legal entities which are a 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
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Today's Exchange
rate |
: |
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ADDITIONAL INFORMATION
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Report Details |
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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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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of EFZY HOLDINGS
PVT LTD is Specialized professional services, including: Property development
Property development |
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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.63.89 |
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1 |
Rs.99.71 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
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.