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MIRA
INFORM REPORT
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Report No. : |
488444 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
EMIL RESORT PVT LTD |
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Registered Office : |
1Fl H Minha Bldg Karankaa Magu, Male 20081 |
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Country : |
Maldives |
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Date of Incorporation : |
20.06.2016 |
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Com. Reg. No.: |
C-0619/2016 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Hotels and Similar Accommodation |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Relatively New Business |
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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.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
MALDIVES - ECONOMIC OVERVIEW
Maldives has quickly become a middle-income country, driven by the rapid
growth of its tourism and fisheries sectors, but the country still contends
with a large and growing fiscal deficit. Economic growth slowed to 2.8% in
2015, mainly because of a decline in tourists from China and Russia. Despite
lower growth, tourism-related tax receipts increased by 13% in 2015 because of
higher tax rates. This increase in tax receipts led to higher usable foreign
exchange reserves that helped partially fund increases in construction related
imports.
In 2015, Maldives’ Parliament passed a constitutional amendment
legalizing foreign ownership of land; foreign land-buyers must reclaim at least
70% of the desired land from the ocean and invest at least $1 billion in a construction
project approved by Parliament.
Diversifying the economy beyond tourism and fishing, reforming public
finance, increasing employment opportunities, and combating corruption,
cronyism, and a growing drug problem are 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 |
Company Summary |
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Business Name |
RAA ATOLL - FASMENDHOO RESORT |
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Country |
MALDIVES |
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Company Registration Number |
C-0619/2016 |
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Main Activity Code |
5510 |
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Main Activity Description |
Hotels and similar accommodation |
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Company Status |
(Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
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Common Credit Rating |
E |
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Common Rating Description |
Not Rated |
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Credit Limit |
No Recommendation |
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Provider Credit Rating |
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Provider Rating Description |
Not Rated |
Basic Information |
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Business Name |
RAA ATOLL - FASMENDHOO RESORT |
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Registered Company Name |
EMIL RESORT PVT LTD |
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Company Registration Number |
C-0619/2016 |
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Country |
MALDIVES |
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VAT Registration Number |
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VAT Registration Date |
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Date of Company Registration |
2016-06-20 |
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Date of Starting Operations |
2016-06-20 |
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Commercial Court |
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Legal Form |
Private Company with Limited Liability |
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Type of Ownership |
Registered ownership by Subject Business Entity |
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Company Status |
(Active) |
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Principal Activity Code |
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Principal Activity Description |
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Contact Telephone Number |
960]-3008844 Status: Telephone number working but
no answer [+960]-3008866 Status: Telephone number working but no answer
[+960]-3004848 Status: Telephone number working but no answer [+960]-3005088
Status: Telephone number is working and the answering party recognized the
name of SBE, but no further details relating to SBE were confirmed,
[+960]-9959494 Status: Mobile number working but answering party has no
knowledge of SBE , [+960]-7775310 Status: Mobile disconnected ,
[+960]-7781874 Status: Mobile number working but answering party has no
knowledge of SBE |
Main Address |
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Address |
Country |
Telephone |
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1Fl H Minha Bldg Karankaa Magu, Male 20081 |
MALDIVES |
960]-3008844 Status: Telephone number working but
no answer [+960]-3008866 Status: Telephone number working but no answer
[+960]-3004848 Status: Telephone number working but no answer [+960]-3005088
Status: Telephone number is working and the answering party recognized the
name of SBE, but no further details relating to SBE were confirmed,
[+960]-9959494 Status: Mobile number working but answering party has no
knowledge of SBE , [+960]-7775310 Status: Mobile disconnected , [+960]-7781874 Status: Mobile
number working but answering party has no knowledge of SBE |
Other Address |
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No other addresses for this company. |
Previous Address |
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No previous addresses for this company. |
Activities |
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Activity Code Activity Description |
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5510 Hotels
and similar accommodation |
Email Addresses |
Web Pages |
Employee Information |
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Date Reported Number of Employees |
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2018 N/A |
Banker Information |
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No banker information for this company. |
Advisors Information |
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No advisor information for this company. |
Miscellaneous Information |
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Fax Number |
n/a |
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Export Countries |
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Import Countries |
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Additional Business Information |
Core Business: The
primary business focus
of EMIL RESORT
PVT LTD is Specialized professional services, including: Resorts. Key services include: Resort development, Resort
management, Resort operators. |
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Additional Rating Information |
No Rating: Insufficient data on the company to
enable a more accurate assessment. Caution is advised. Revision of Credit
Limit: n/a. Risk Index: High. |
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Additional Payment Information |
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Additional Financial Information |
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. |
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Number of Employees at Address |
n/a |
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Number of Employees at Group |
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Number of Employees at Factory |
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Additional Miscellaneous Information |
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Issuing Authority |
Ministry Of Economic Development |
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Note |
(1) Not applicable. According to the corporate
statutory laws for this type of Legal Form - Category (Private Company with
Limited Liability) in Maldives, there is no requirement for Authorized
Capital. |
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Reputation |
Due to the lack of any third party
references and the relatively small
size of the EMIL
RESORT PVT LTD,
it was not possible to establish any point of reference within the
respective industry sector. |
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Nega-Scan - Adverse Data Monitoring |
Dishonored Checks, Debt, Civil Litigation,
Performance Defaults, Adverse Local Media Coverage / Adverse Filing History:
No Record Found. |
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Shareholders |
Not available - According to the corporate
statutory laws for this type of Legal Form - Category (Private Company with
Limited Liability) in Maldives, there is no public disclosure of
Shareholders. |
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Company Directors |
Not available - According to the corporate
statutory laws for this type of Legal Form - Category (Private Company with
Limited Liability) in Maldives, there is no public disclosure of Directors. |
Financial Information |
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No financial information for this company. |
Current Directors |
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Name |
Gender |
Address |
Date of Birth |
Position |
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Naufal Ahmed |
Male |
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Manager |
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Ibrahim Latheef |
Male |
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Manager |
Previous Directors |
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No previous directors for this company. |
Share Capital Structure |
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No share capital information for this company |
Group Structure |
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No group structure information for this company |
Negative Information |
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No negative information for this company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.07 |
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1 |
INR 91.34 |
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Euro |
1 |
INR 80.03 |
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MVR |
1 |
INR 4.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.