MIRA INFORM REPORT

Report No. :	309550
Report Date :	10.03.2015

IDENTIFICATION DETAILS

Name :	VIEW BUILDERS PVT LTD
Registered Office :	Ma Vaffaru Buruzu, Magu, Male
Country :	Maldives
Date of Incorporation :	12.02.2004
Legal Form :	Private Company With Limited Liability
Line of Business :	Subject is engaged in Construction & Construction Materials.
No. of Employees :	84

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD $50,000
Status :	Moderate
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Maldives	B1	B1

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 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

Organization Name	:	VIEW BUILDERS PVT LTD
Address	:	Ma Vaffaru Buruzu, Magu, Male
Country	:	Maldives
Phone (S)	:	[+960]-3329467
Facsimile	:	[+960]-3329468
Email	:	projects@viewbuilders.com.mv
Website	:	http://www.viewbuilders.com.mv
Primary Business Activity	:	Service
Key Industry	:	Construction & Construction Materials

Key Facts
Registered Legal Address	:	4Fl G Oakum, Male
Operational Address	:	Ma Vaffaru Buruzu, Magu, Male
Issuing Authority	:	MINISTRY OF ECONOMIC DEVELOPMENT - National
License Number	:	C-63/2004
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	:	12 Feb, 2004
Employees	:	84
Capital	:	US$ 131,148

CREDIT recommendation

Current Credit Limit: USD $50,000 based on 90 days

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Abdul Ghani Ali	Maldivian	Manager	Human Resources
2	Mr. Ibrahim Fazeel	Maldivian	Manager	Sales & Marketing
3	Mr. Karthikeyan	Maldivian	Engineer	-
4	Mr. Nadeem Mohamed	Maldivian	Consultant	-
5	Mr. Ahmed Muslim	Maldivian	Manager	Construction
6	Mr. Abdulla Rasheed	Maldivian	Accountant	-
7	Ms. Fathmath Shiuna	Maldivian	Director	Administration

Management Details - 1

Personal Unique Identifier	:	MI03555907
Name	:	Mr. Abdul Ghani Ali

Management Details - 2

Personal Unique Identifier	:	MI03555906
Name	:	Mr. Ibrahim Fazeel

Management Details - 3

Personal Unique Identifier	:	MI03555885
Name	:	Mr. Karthikeyan

Management Details - 4

Personal Unique Identifier	:	MI03555886
Name	:	Mr. Nadeem Mohamed

Management Details - 5

Personal Unique Identifier	:	MI03555888
Name	:	Mr. Ahmed Muslim

Management Details - 6

Personal Unique Identifier	:	MI03555903
Name	:	Mr. Abdulla Rasheed

Management Details - 7

Personal Unique Identifier	:	MI03555909
Name	:	Ms. Fathmath Shiuna

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03555979
Name	:	Mr. Mohamed Ahmed
2
Personal Unique Identifier	:	MI03555874
Name	:	Mr. Mohammad Aslam

Based on corporate statutory laws / regulations in Maldives, there is no requirement for public disclosure of Directors. In this case, the Directors information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing VIEW BUILDERS PVT LTD'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

CIVIL LITIGATION

No Record Found

PERFORMANCE DEFAULTS

No Record Found

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

SHARE & SHARE CAPITAL INFORMATION

SHAREHOLDERS

Total number of shareholders	:	2
Total number of shares	:	n/a

Currency

:

MVR - Maldives Rufiyaa

No.	Shareholders	Country	Shares
			Number	Amount (MVR)	%
1	Mr. Mohammad Aslam	Maldives	n/a	n/a	99.00
2	Mr. Mohamed Ahmed	Maldives	n/a	n/a	1.00
Total			n/a	n/a	100.00

Based on corporate statutory laws / regulations in Maldives, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

PAYMENT INFORMATION

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

Annual Purchases Analysis	Percentage
Local Purchases	90%
Imports	10%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days
Import	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction

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

Today's Exchange rate

:

1.00 MVR Maldives Rufiyaa

=

0.065574 USD United States Dollars

ADDITIONAL INFORMATION

Report Details

Country	:	Maldives
Business Entity Name	:	VIEW BUILDERS PVT LTD
Primary Business Activity	:	Service
Primary Industry	:	Construction & Construction Materials
Office Contact Details
Operating Address	:	Ma Vaffaru Buruzu, Magu, Male
Tel	:	[+960]-3329467
Fax	:	[+960]-3329468
Email	:	projects@viewbuilders.com.mv info@viewbuilders.com.mv
Website Details
Website	:	http://www.viewbuilders.com.mv
Status	:	Registered but not operational

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Mohammad Aslam
Nationality	:	Maldivian

Primary Products

Products / Materials / Services Description	Activity
Building maintenance	Service
Construction management	Service
Contracting	Service
Design-build services	Service
General constructions	Service

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Bldg Cleaning/Maint Svc, NEC	7349	Service
Construction Materials, NEC	5039	Importing
General Building Contractors	1500	Service
Heavy Construction, NEC	1629	Service
Management Services	8741	Service

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Building maintenance services	9910	Service
General contractor-residential	9813	Service
Management services	9874	Service
Refractory bricks & other refr ceramic const art	6902	Importing

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Logistics	Primary	Service
Pre-construction consultants	Primary	Service
Programme management	Primary	Service
Project management	Primary	Service
Construction materials	Secondary	Importing

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of VIEW BUILDERS PVT LTD is Specialized professional services, including:

• Building maintenance
• Construction management
• Logistics
• Project management

Key services include:

• Contracting
• General constructions
• Design-build services
• Pre-construction consultants
• Programme management

Supplementary Business

In addition to the core business, VIEW BUILDERS PVT LTD also is engaged in the following areas of business:

1. Importing
• Importing - Finished products

LOCAL BRANCHES & MANAGEMENT

Branch	:	VIEW BUILDERS PVT LTD - MALE
Branch Address	:	H Narudhooge, Male
Branch Tel	:	960-7915202
Branch Fax	:	960-7911841

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name	:	VIEW BUILDERS PVT LTD - MAGU, MALE
Primary Use	:	Office & Administration facilities
Address	:	Ma Vaffaru Buruzu, Magu, Male
Country	:	Maldives
Status	:	Operational

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing

PREVIOUS CONTACT DETAILS

Company Address

:

H Happy Night Vaijehey, Magu, Male 20046

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.62
UK Pound	1	Rs.94.39
Euro	1	Rs.67.96

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	TPT

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%)

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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.