MIRA INFORM REPORT

 

 

Report No. :

319347

Report Date :

06.05.2015

 

IDENTIFICATION DETAILS

 

Name :

HIDDEN SHANGRILA LA PVT. LTD.

 

 

Registered Office :

Po Box 24487 Jhatha, Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2013

 

 

Date of Incorporation :

13.06.2009

 

 

Com. Reg. No.:

76598

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged into Providing, Travel Agency, Tourism Services.

 

 

No. of Employee :

25

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NEPAL ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013 and 2014. Nepal and India signed trade and investment agreements in 2014 that will amp up Nepal’s hydropower potential.

 

Source : CIA

 

Company name and address

 

Company Name

Hidden Shangrila La Pvt. Ltd.

 Address

PO Box 24487 JHATHA, KATHMANDU, NEPAL

 

 

Company summary

 

Registered no.

76598 of  18.07.2009

Phone No

+977-1-4269458

Mobile

977-9851025950

History of the Company

It is a private limited company incorporated at Kathmandu, Nepal.

Directors

Mr. Ashok Man Singh Basnyat

Mr. Kiran Man Singh Basnyat

Mr. Raj Basnayat

Mr. Sayam Bista

Banker with Branch

Nepal Bank Ltd., Kathmandu, Nepal

Nepal Grindlays Bank Ltd, Kathmandu, Nepal

Himalayan Bank, Tridevi Marg, Kathmandu, Nepal

Facility from Bank

Unlimited

Activities

Hotal Business, Travel, Traking, Ticket Booking

Terms : Local Purchase

90  days credit  medium USD

Export to

yes

Terms  : Local Sales

NA

Cash or 30 to 45 days credit (up-to 180 days in Government supply)

Main Suppliers

Local

Main Customers

Germany, Korea, Tiwan, UK

Employees

25 nos.

Share Holder

Mr. Ashok Man Singh Basnyat              30%

Mr. Kiran Man Singh Basnyat                30%

Mr. Raj Basnayat                                  20%

Mr. Sayam Bista                                   20%

Premises Owned/ Rented

Owned

Financial

Enclosed Balance Sheet as on 15.07.2013

Auditor

Mr. Nandlal Sharma

 

 

Financial Statement

 

Balance Sheet:

 

Authorised Capital : 10,000,000/- (100,000 Equity Shares of Rs.10/- each)

 

Paidup : 10,000,000/- (100,000 Equity Shares of Rs.10/- each)

 

 

 

 

 

 

BALANCE SHEET AS AT 15.07.2013

 

 

 

 

 

Liabilities

Amount (Nep Rs.)

 

Assets

Amount (Nep Rs.)

 

 

 

 

 

Paid up Capital

10,000,000

 

Fixed Assets

11,169,000

Reserve & Surplus

3,987,000

 

Investments

4,530,000

Sundry Creditor

782,000

 

Cash at Bank

1,829,000

Other Liabilities

5,733,000

 

Sundry Debtors

2,362,000

Provisions

1,257,000

 

Cash in hand

1,869,000

 

 

 

 

 

 

 

 

 

 

Total

21,759,000

 

 

21,759,000

 

 

 

 

 

 

Nep Rs.

 

 

 

Sales

97,486,385

 

 

 

Profit Before Tax

92,529,000

 

 

 

Profit After Tax

67,572,192

 

 

 

 

 

 

 

 

 

 

Well established respectable and reputed concern. Payments are reported to correct and regular as per commitment.

 

 

Information parted by

 

(GENERAL DETAILS)

Name :

Mr. Ashok

Designation :

Director

Contact No.:

977-9851025950

Date :

04.05.2015

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.52

UK Pound

1

Rs.95.96

Euro

1

Rs.70.54

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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.