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MIRA INFORM REPORT
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Report No. : |
497031 |
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Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
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Name : |
STATIC COMPANY PVT LTD |
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Registered Office : |
M Huraa Fareedhee
Maafaannu Magu, Male |
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Country : |
Maldives |
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Date of Incorporation : |
18.05.1989 |
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Com. Reg. No.: |
C-0025/1989 |
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Legal Form : |
Private Company with
Limited Liability |
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Line of Business : |
Manufacture of electronic
components |
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No. of Employees : |
10 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Maximum Credit Limit : |
USD 66,000 |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current
Rating (31.12.2017) |
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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
name
STATIC COMPANY PVT LTD
Company Summary
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Business Name |
STATIC COMPANY PVT LTD |
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Country |
MALDIVES |
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Company Registration Number |
C-0025/1989 |
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Main Activity Code |
2611 |
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Main Activity Description |
Manufacture of electronic components |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
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Credit Limit |
66,000 USD |
Basic Information
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Business Name |
STATIC COMPANY PVT LTD |
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Registered Company Name |
STATIC COMPANY PVT LTD |
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Company Registration Number |
C-0025/1989 |
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Country |
MALDIVES |
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Date of Company Registration |
1989-05-18 |
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Date of Starting Operations |
1989-05-18 |
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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 |
Normal (Active) |
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Contact Telephone Number |
[+960]-3310313, [+960]-3310413 |
Main Address
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Address |
Country |
Telephone |
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M Huraa Fareedhee Maafaannu Magu, Male |
MALDIVES |
[+960]-3310313, [+960]-3310413 |
Other Address
No other addresses for this company.
Previous Address
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Address |
Country |
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Ashiya Manzil Bentheyo Goalhi, Maafannu, Male 20224 |
MALDIVES |
Activities
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Activity Code |
Activity Description |
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2611 |
Manufacture of electronic components |
Email Addresses
Web Pages
Employee Information
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Date Reported |
Number of Employees |
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2018 |
10 |
No banker information for this company.
Advisors Information
No advisor information for this company.
Miscellaneous Information
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Fax Number |
[+960]-3326405 |
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Import Countries |
Asia / Pacific, Europe, Australia, France, Germany, Italy,
Sri Lanka. |
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Additional Business Information |
Core Business: The primary business
focus of STATIC COMPANY PVT LTD is Import agency - Finished products. Key
products include: Control panels, Distribution panels, Electrical control
systems, Electrical engineering product, Electrical products, Electrical
wirings, Generator controls, High pressure pumps, Lighting control systems,
Lv switchgears, Mv switchgears, Power distribution equipment, Power
generation equipment, Reverse osmosis desalination, Switchgears, Wastewater
treatment equipment Water pressure system, Wiring accessories. An integral
part of the core business includes: Distribution. Supplementary Business: In
addition to the core business, STATIC COMPANY PVT LTD also is engaged in the
following areas of business: 1. Trading: Trading - Finished products. |
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Additional Payment Information |
Selling: Local: Cash on delivery
(COD), Credit - Unsecured 30~60 days. Purchasing: Import: Letter of Credit
(At-sight), Telegraphic Transfer (T/T) - Executed at time of transaction;
Local: Credit - Unsecured 30~60 days, Cash on delivery (COD). |
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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 |
10 |
Additional Miscellaneous Information
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Issuing Authority |
Ministry Of Economic Development |
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Note |
(2) 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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Domestic Sales & Purchases |
Annual Sales Analysis: Domestic
Sales: 100%, International Sales (Export): 0%. Annual Purchases Analysis:
Local Purchases: 30%, Imports: 70%. |
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Reputation |
Reference checking for the purpose
of establishing STATIC COMPANY PVT LTD's reputation within the respective
industry failed to reveal any adverse information. |
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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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Import Agency Listing |
1. Supplier: CLIPSAL AUSTRALIA PTY
LTD, Global Identifier: P0374615, Country of Origin: Australia, Product Description: Electrical
products, Brand/s: #1 Clipsal, Year: 2010. 2. Supplier: GEWISS SPA, Global
Identifier: P1162003, Country of Origin: Italy, Product Description: Sockets,
Brand/s: #1 Gewiss, Year: 2010 3. Supplier: HAGER & WERKEN GMBH & CO
KG, Global Identifier: P2016621, Country of Origin: Germany, Product
Description: Electrical products, Brand/s: #1 Hager, Year: 2010. 4. Supplier:
LEGRAND FRANCE SA, Global Identifier: P1849569, Country of Origin: France, Product
Description: Electrical products, Brand/s: #1 Legrand, Year: 2010. 5.
Supplier: SCHNEIDER ELECTRIC INDUSTRIES SAS, Global Identifier: P1173984,
Country of Origin: France, Product Description: Electrical products, Brand/s:
#1 MERLIN GERIN; #2 Telemecanique, Year: 2010. |
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Factories, Size, & Locations |
Trading House ONLY - No
manufacturing facilitiesSTATIC COMPANY PVT LTD is a trading house which outsources
all orders. Hence there are no production facilities directly owned by the
firm. |
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Company History |
Date: 1997, Details: Started
building Desalination Plants. |
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Awards (Award Name: Awarded by: Awarded Date) |
1. Certificate of Encouragement for
Public Services: GOVERNMENT OF MALDIVES: 2000 2. CNCI Gold Award: CEYLON NATIONAL
CHAMBER OF INDUSTRY SRI LANKA: 2005. |
No financial information for this
company.
Current Directors
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Name |
Gender |
Address |
Date of Birth |
Position |
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M. V. Krishna Kumar |
Male |
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Chief Executive Officer Director |
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Ismail Shafeeu |
Male |
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Managing Director |
No previous directors for this company.
Share Capital Structure
No share capital information for this company
No group structure information for this company
Negative Information
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 64.92 |
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1 |
INR 90.23 |
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Euro |
1 |
INR 80.54 |
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MVR |
1 |
INR 4.22 |
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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PRI |
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Report Prepared
by : |
SYL |
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.