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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

482323

Report Date :

05.01.2018

 

IDENTIFICATION DETAILS

 

Name :

SUNNY ENTERPRISES PVT LTD

 

 

Registered Office :

Whaadhee Bldg Ibrahim Hassan Didi Magu, Male 20187

 

 

Country :

Maldives

 

 

Date of Incorporation :

11.02.2010

 

 

Com. Reg. No.:

C-0652/2010

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

·         Wholesale of beverages

·         Wholesale of perfume and cosmetics

·         Non-specialised wholesale of food, beverages and tobacco

 

 

No. of Employees :

20

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Maldives

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 

 

Company Summary

 

Business Name

SUNNY ENTERPRISES PVT LTD

Country

MALDIVES

Company Registration Number

C-0652/2010

Main Activity Code

4634

Main Activity Description

Wholesale of beverages

Company Status

Normal (Active)

Latest Turnover Figure

-

Latest Shareholder Equity Figure

-

 

 

Basic Information

 

Business Name

SUNNY ENTERPRISES PVT LTD

Registered Company Name

SUNNY ENTERPRISES PVT LTD

Company Registration Number

C-0652/2010

Country

MALDIVES

Date of Company Registration

2010-11-02

Date of Starting Operations

2010-11-02

Legal Form

Private Company with Limited Liability

Company Status

Normal (Active)

Contact Telephone Number

[+960]-3004557 [+960]-3004558 [+960]-3004559, [+960]-3004555, [+960]-7775850

 

 

Main Address

 

Address

Country

Telephone

Whaadhee Bldg Ibrahim Hassan Didi Magu, Male 20187

MALDIVES

[+960]-3004557 [+960]-3004558

 

 

[+960]-3004559, [+960]-3004555,

 

 

[+960]-7775850

 

 

Other Address

 

No other addresses for this company.

 

 

Previous Address

 

No previous addresses for this company.

 

 

Activities

 

Activity Code

Activity Description

4634

Wholesale of beverages

4645

Wholesale of perfume and cosmetics

4639

Non-specialised wholesale of food, beverages and tobacco

 

 

Email Addresses

 

sales@sunnyenterprises.biz

 

 

Web Pages

 

http://www.sunnyenterprises.biz

 

 

Employee Information

 

Date Reported                         Number of Employees

2017                                        20

 

 

 

Banker Information

 

No banker information for this company.

 

 

Advisors Information

 

No advisor information for this company.

 

 

Miscellaneous Information

 

Fax Number

[+960]-3004556

Export Countries

Import Countries

Asia / Pacific

Additional Business Information

Core Business: The primary business focus of SUNNY ENTERPRISES PVT LTD is Trading - Finished products. Key products include: Beverages, Food products, Cosmetics, Perishable goods, Toiletries. Supplementary Business: In addition to the core business, SUNNY ENTERPRISES PVT LTD also is engaged in the following areas of business: Importing - Finished products.

Additional Payment Information

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

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.

Number of Employees at Address

20

 

 

Additional Miscellaneous Information

 

Primary Business Activity

Trader

Key Industry

Consumer Products

Issuing Authority

MINISTRY OF ECONOMIC DEVELOPMENT

Note

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.

Ownership Type

Registered ownership by Subject Business Entity

Primary Products (Products / Materials

/ Services: Activity)

Beverages, Cosmetics, Food products, Perishable goods, Toiletries: Importing, Trading

Domestic Sales & Purchases

Annual Sales Analysis: Percentage Domestic Sales: 100% Annual Purchases Analysis: Percentage Local Purchases: 60% Imports: 40%

Reputation

Reference checking for the purpose of establishing SUNNY ENTERPRISES PVT LTD's reputation within the respective industry failed to reveal any adverse information.

Nega-Scan - Adverse Data Monitoring

Dishonored Checks, Debt, Civil Litigation, Performance Defaults, Adverse Local Media Coverage / Adverse Filing History: No Record Found

Office & Facilities

 

The following information relates to the Business Entity's office as listed above: Name: SUNNY ENTERPRISES PVT LTD - MALE Primary Use: Office & Administration facilities Address: Whaadhee Bldg Ibrahim Hassan Didi Magu, Male 20187 Country: Maldives Status: Operational

 

 

Financial Information

 

No financial information for this company.

 

 

Current Directors

 

Name

Gender

Address

Position

Abdullah Didi

Male

Maldivian

Chairman

Thilan Sooriyapathiranage

Unknown

Maldivian

General Manager

 

 

Previous Directors

 

No previous directors for this company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.39

UK Pound

1

INR 85.74

Euro

1

INR 76.25

MVR

1

INR 4.11

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.