MIRA INFORM REPORT
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Report No. : |
309545 |
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Report Date : |
05.03.2015 |
IDENTIFICATION DETAILS
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Name : |
NALAHIYA TRADING
PVT LTD |
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Registered Office : |
8Fl Faaroshige Orchid, Magu, Male 20189 |
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Country : |
Maldives |
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Date of Incorporation : |
18.03.2002 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
· Engaged in providing construction and Building Material · Subject products ranging from Concrete Materials such as Cement, Sand, Deform Bars, Aggregate, Plywood and Hardwood to Finishing Products such as Tiles, Glass, Roofing, Aluminium, Polished Granites & Black, Granite |
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No of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD $200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Maldives |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 |
REGISTERED
NAME & COMPANY SUMMARY
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Organization
Name |
: |
NALAHIYA
TRADING PVT LTD |
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Address |
: |
8Fl Faaroshige Orchid, Magu, Male 20189 |
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Country |
: |
Maldives |
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Phone
(S) |
: |
[+960]-3335930 |
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Facsimile |
: |
[+960]-3337711 |
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Email |
: |
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Website |
: |
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Primary
Business Activity |
: |
Engaged in providing construction and Building Material |
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Key Facts |
||
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Registered
Legal Address |
: |
8Fl
Faaroshige Orchid, Magu, Male 20189 |
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Operational
Address |
: |
8Fl
Faaroshige Orchid, Magu, Male 20189 |
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Issuing
Authority |
: |
MINISTRY
OF TRADE & INDUSTRIES |
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License
Number |
: |
C-85/2002 |
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License
Status |
: |
License
exists - Normal. |
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Legal
Form – Category |
: |
Private
Company with Limited Liability |
|
Legal
Form |
: |
Private
Limited |
|
Legal
Form - Abbreviation |
: |
PVT
LTD |
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Operational
Status of Business |
: |
Normal |
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Date
of Registration |
: |
18
Mar, 2002 |
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Employees |
: |
500 |
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Capital |
: |
n/a(1) |
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Note
|
: |
(1) Not applicable. |
CREDIT
RECOMENDATION
Current
Credit Limit: USD
$200,000 based on 90 days
DIRECTORS/MANAGEMENT
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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 NALAHIYA TRADING
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
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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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FINANCIAL
INFORMATION
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FINANCIAL STATEMENT - DETAILED |
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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. 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
Report Details
|
Country |
: |
Maldives |
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Business Entity Name |
: |
NALAHIYA TRADING PVT LTD |
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Primary Business Activity |
: |
Trader |
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Primary Industry |
: |
Construction & Construction Materials |
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Office Contact Details |
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Operating Address |
: |
8Fl Faaroshige Orchid, Magu, Male 20189 |
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Tel |
: |
[+960]-3335930 |
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|
: |
[+960]-3335931 |
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Mobile |
: |
[+960]-7775787 |
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Fax |
: |
[+960]-3337711 |
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Email |
: |
info@nalahiyatrading.com |
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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 |
Key Person
|
Legal Title |
: |
Chairman |
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Name |
: |
Mr. Ibrahim Waheed |
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Nationality |
: |
Maldivian |
Primary Products
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Products / Materials / Services Description |
Activity |
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Aggregate |
Importing, Trading |
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Black, granite |
Importing, Trading |
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Building materials |
Importing, Trading |
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Cement |
Importing, Trading |
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Concrete materials |
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 NALAHIYA TRADING PVT LTD is Trading -
Finished products. Subject products ranging from Concrete Materials such as Cement,
Sand, Deform Bars, Aggregate,
Plywood and Hardwood to Finishing Products such as Tiles, Glass, Roofing,
Aluminium, Polished Granites &
Black, Granite |
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Supplementary
Business |
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In addition to the core business, NALAHIYA TRADING PVT LTD also is
engaged in the following areas of business:
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LOCAL BRANCHES
& MANAGEMENT |
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INTERNATIONAL TRADE - Activity & Markets |
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OVERSEAS SUPPLIERS |
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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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PREVIOUS CONTACT DETAILS |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
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UK Pound |
1 |
Rs.94.96 |
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Euro |
1 |
Rs.69.10 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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 |
|
-- |
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.