|
|
|
MIRA INFORM REPORT
|
Report No. : |
505668 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC |
|
|
|
|
Registered Office : |
7Fl MTCC Tower, Boduthakurufaanu Magu, Male 20057 |
|
|
|
|
Country : |
Maldives |
|
|
|
|
Financials (as on) : |
December 2017 |
|
|
|
|
Date of Incorporation : |
18.12.1980 |
|
|
|
|
Com. Reg. No.: |
C-680/1980 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
· Other transportation support activities · Manufacture of tobacco products · Extraction of salt · Wholesale of china and glassware and cleaning materials · Manufacture of electric motors, generators and transformers · Renting and leasing of other personal and household goods · Construction of residential and non-residential buildings · Manufacture of industrial gases · Manufacture of other electrical equipment |
|
|
|
|
No. of Employees : |
1,722 [2018] |
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 |
|
Maximum Credit Limit : |
4.400.000 USD |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC |
|
Country |
MALDIVES |
|
Company Registration Number |
C-680/1980 |
|
Main Activity Code |
5229 |
|
Main Activity Description |
Other transportation support activities |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
964.395.928 |
|
Credit Limit |
4.400.000 USD |
Basic
Information
|
|
|
Business Name |
MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC |
|
Registered Company Name |
MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC |
|
Company Registration Number |
C-680/1980 |
|
Country |
MALDIVES |
|
VAT Registration Number |
|
|
VAT Registration Date |
|
|
Date of Company Registration |
1980-12-18 |
|
Date of Starting Operations |
1980-12-18 |
|
Commercial Court |
|
|
Legal Form |
Public Limited Company |
|
Type of Ownership |
Registered ownership by Subject Business Entity |
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+960]-3001224, [+960]-3001214, [+960]-3326822 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
7Fl MTCC Tower, Boduthakurufaanu Magu, Male 20057 |
MALDIVES |
[+960]-3001224, [+960]-3001214, [+960]-3326822 |
Other
Address
|
||
|
Address |
Country |
Telephone |
|
181 Boduthakurufaanu, Magu, Male |
MALDIVES |
|
|
2Fl MTCC Tower Boduthakurufaanu, Magu, Male 20057 |
MALDIVES |
960-3001145 |
|
H Sawmill Filigas, Magu, Male 20057 |
MALDIVES |
960-3320045 |
|
Dhathuruvehi 3 Boduthakurufaanu, Magu, Male 20057 |
MALDIVES |
960-3346051 |
|
Addu Mulaku |
MALDIVES |
960-6893400 |
|
GDh Thinadhoo |
MALDIVES |
960-6640664 |
|
Laamu Atoll |
MALDIVES |
960-6800762 |
|
MTCC Plaza Buruzu, Magu |
MALDIVES |
960-3317070 |
|
Thilafushi |
MALDIVES |
960-6640664 |
Previous
Address
|
|
Address Country |
|
MSL Bldg Orchid Magu, Male MALDIVES |
Activities
|
|
|
Activity Code |
Activity Description |
|
5229 |
Other transportation support activities |
|
1200 |
Manufacture of tobacco products |
|
0893 |
Extraction of salt |
|
4644 |
Wholesale of china and glassware and cleaning
materials |
|
2711 |
Manufacture of electric motors, generators and
transformers |
|
7729 |
Renting and leasing of other personal and household
goods |
|
4120 |
Construction of residential and non-residential
buildings |
|
2011 |
Manufacture of industrial gases |
|
2790 |
Manufacture of other electrical equipment |
Email
Addresses
|
Web
Pages
|
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 1,722 |
Banker
Information
|
||
|
Banker Name |
Banker Address |
|
|
BANK OF CEYLON |
Male 20006 |
|
Advisors
Information
|
|
Auditor Name Solicitor Name |
|
KPMG |
|
Mr. Ali Nashath |
Miscellaneous
Information
|
|
|
Fax Number |
[+960]-3315500, [+960]-3315005, [+960]-3323221,
[+960]-3332835 |
|
Export Countries |
|
|
Import Countries |
Asia / Pacific, Europe, North America, Indonesia,
Japan, Pakistan, Singapore, Spain, USA |
|
Additional Business Information |
Core Business The
primary business focus of MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC is Specialized professional services, including: Building
construction Dredging Equipment rental Logistic services Marine
transportation Road construction Shipping agency Transportation Key services
include : Auctions Construction equipment rental Contracting Ferry
Reclamation Salvage operation Sheet piling Shore-line protection Transport contracting
Transport services Supplementary Business In addition to the core business,
MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC also is engaged in the
following areas of business: 1. Importing Importing - Finished products 2.
Trading Trading - Finished products |
|
Additional Rating Information |
Good Credit Quality: Credit can proceed on a
favorable basis but in strict adherence to financig terms. Revision of Credit
Limit : Annual Risk Index : Low |
|
Additional Payment Information |
Selling Type Terms Local
Cash on delivery (COD) Credit
- Unsecured 30~60 days Purchasing Type Terms
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) |
|
Additional Financial Information |
Financial Statements Were Prepared As At
2017-12-01, 2016-12-01 And 2015-12-01. |
|
Number of Employees at Address |
1,722 |
|
Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional
Miscellaneous Information
|
|
|
Issuing Authority |
Ministry Of Economic Development |
|
Capital |
US$ 1,621,271 |
|
Primary Business Activity |
Service |
|
Primary Industry |
Transportation |
|
Harmonized Product Classification & Activity |
Product/Service Description Code Activity Business
services, health, financial/insur. legal/real estate, hotels, and misc
repairs 9900 ServiceChemical products and preparations of the chemical or
allied industries 3824909060 Importing, Trading Dredgers 8905100000
Importing, Trading Electric motors and generators (no sets) 8501 Importing,
Trading Engines and motors nesoi, and parts thereof 8412 Importing, Trading
Equipment rental and leasing, nec 9913 Service Freight transportation
arrangement, nvocc, customs brokerage 9852 Service Heavy construction 9818 Service
Highway and street construction 9815 Service Insulated wire, cable etc;
opt sheath fib cables 8544 Importing, Trading |
|
Detailed Product Classification & Activity |
Products / Materials / Services Description
Ranking Activity Dredging Primary Service
Engineering Primary Service Equipment rental Primary Service Ferry
Primary Service Logistic services Primary Service
Logistics Primary Service Marine transportation Primary Service Project
management Primary Service Reclamation Primary
Service Road construction Primary Service
Cables Secondary Importing, Trading Coatings Secondary Importing, Trading
Diesel engines Secondary Importing, Trading Generator sets Secondary
Importing, Trading Heavy equipment Secondary Importing, Trading Industrial gas
Secondary Importing, Trading Lubricant oil
Secondary Importing, Trading Marine
engines Secondary Importing, Trading |
|
Domestic Sales & Purchases |
Annual Sales Analysis Percentage Domestic Sales
100% Annual Purchases Analysis Percentage Local Purchases 40%Imports 60% |
|
Stock Exchange Listing Details |
Country : Maldives Name of Stock Exchange : Name Acronym MALDIVES STOCK EXCHANGE MSE Stock
Symbol / No. : MTCC Date of
listing : 22 Nov, 2004 |
|
Company Management |
1. Name: Mr.
Ismail Adhuham, Date of appointment: 2014. 2. Name:
Mr. Waseem Akram, Date of appointment: Nov, 2012. 3. Name: Ms. Aishath Susan Haneef, Date of appointment: 2000. 4. Name:
Mr. Ahmed Iruhash, Date of appointment: 2012. 5. Name: Mr. Ahmed Latheef, Date of appointment:
1999. 6. Name: Mr. Ibrahim Latheef, Date of appointment: 1999. 7. Name: Ms. Fathimath Liusha, Date of appointment:
1997. 8. Name: Mr. Mohamed Luayyu, Date of appointment: May, 2014. 9. Name: Mr. Ahmed Saeed, Date of appointment: 1993. 10. Name: Mr. Ahmed Salam, Date of appointment:
1991. 11. Name: Mr. Hussain Zuhury, Date of appointment: 2002. |
|
Capital |
Date Authorized Capital - History 2008
12,500,0002015 25,000,000 Date Paid-up
Capital - History 2008 12,500,000
2015 25,000,000 |
|
Reputation |
The MALDIVES TRANSPORT AND
CONTRACTING COMPANY PLC maintains
a good and well-established reputation in the local
market. |
|
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 |
|
Bank Details |
Bank Name : BANK OF MALDIVES PLC Global Identifier : P0766836
Branch Address : BML Bldg 11
Boduthakurufaanu Magu, Male 200094 SWIFT Code : MALBMVMV Bank Name : HABIB BANK LTD Global Identifier : P0899936 Branch :
Male Branch Address : Ground Fl Ship Plaza 1/6 Orchid Magu, Male 2002 SWIFT Code
: HABBMVMV Bank Name
: HONG KONG & SHANGHAI BANKING CORP LTD, THE Global Identifier : P0324977 Branch Address :
1Fl MTCC Tower 24 Boduthakurufaau Magu, Male 2005 SWIFT Code : HSBCMVMV Bank Name
: STATE BANK OF INDIA
Global Identifier : P1066361 Branch : Male SWIFT
Code : SBINMVMV |
|
Local Branches & Management |
1.Branch : MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC - MAGU, MALE Branch Address : 181 Boduthakurufaanu, Magu,
Male 2.Branch : MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC - MAGU, MALE Branch
Address : 2Fl MTCC Tower
Boduthakurufaanu, Magu, Male 20057 Branch Tel : 960-3001145 Branch Fax
: 960-3323221 Branch Email : careers@mtcc.com.mv Primary
use of location : #1. Office administration 3.Branch : MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC - MAGU,
MALE Branch Address : H Sawmill
Filigas, Magu, Male
20057 Branch Tel : 960-3320045 Branch Fax : 960-
3323022 Branch Email : salesdept@mtcc.com.mv Primary
use of location : #1. Office administration 4.Branch
: MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC - MAGU, MALE Branch Address : Dhathuruvehi 3 Boduthakurufaanu, Magu, Male 20057
Branch Tel : 960-3346051 Branch Fax : 960- 3344924 Branch Email : tsd@mtcc.com.mv Primary use of location : #1. Office
administration 5.Branch : MALDIVES
TRANSPORT AND CONTRACTING COMPANY PLC - ADDU
MULAKU Branch Address : Addu Mulaku Branch Tel : 960-6893400 Branch Fax :
960-6893221 Primary use of location : #1. Office
administration 6. Branch
: MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC - GDH THINADHOO Branch Address : GDh Thinadhoo Branch Tel :
960-6640664 Branch Fax : 960-6640523 Primary use of location : #1. Office administration 7.Branch : MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC - LAAMU ATOLL Branch Address : Laamu Atoll Branch
Tel : 960-6800762 Branch Fax : 960-6800761 Primary
use of location : #1. Office administration
8.Branch : MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC - MAGU Branch Address : MTCC
Plaza Buruzu, Magu Branch Tel : 960-3317070
Branch Fax : 960-3322828 Branch Email : therentals@mtcc.com.mv Primary
use of location : #1. Office administration 9.Branch : MALDIVES TRANSPORT AND CONTRACTING
COMPANY PLC - THILAFUSHI Branch Address : Thilafushi Branch Tel :
960-6640664 Branch Fax : 960-6640523 Branch Email : tbd@mtcc.com.mv Primary use of location : #1. Office
administration |
|
Shareholders |
Total number of shareholders : n/a Total number of
shares : 5,000,000 |
|
Overseas Suppliers |
Business Entity Name Global Identifier Country
CATERPILLAR FINANCIAL SERVICES ASIA PTE LTD |
|
|
P0819894 Singapore
CATERPILLAR INC P0013537 USA
HIMOINSA FAR EAST PTE LTD P0978335
Spain |
|
|
SIGMAKALON INDONESIA PT P0722650
Indonesia SUZUKI MOTOR CORP P0007043
Japan YANMAR ASIA |
|
|
(SINGAPORE) CORP PTE LTD P0040694 Singapore YANMAR
DIESEL INDONESIA PT 30634672
Indonesia |
|
Domestic Suppliers |
Business Entity Name Global Identifier
COMMERCE DEVELOPMENT AND ENVIRONMENT PVT
LTD P3828935 FUEL SUPPLIES MALDIVES PVT
LTD P1129081
MALDIVES AIRPORTS COMPANY LTD P0800718
STATE TRADING ORGANIZATION PLC
P0364725 |
|
Domestic Customers |
Business Entity Name Global
Identifier MALDIVES AIRPORTS COMPANY LTD
P0800718 MALDIVES TOURISM DEVELOPMENT CORPORATION PLC P1359321
STATE TRADING ORGANIZATION PLC P0364725 |
|
Legal Advisors |
Legal Advisor Name MAZLAN & MURAD LAW &
ASSOCIATES |
|
Office & Facilities |
The following information relates to the Business
Entity's office as listed above: Name : MALDIVES TRANSPORT AND CONTRACTING COMPANY PLC - MALE
Primary Use : Office
& Administration facilities Address : 7Fl MTCC Tower, Boduthakurufaanu Magu, Male 20057
Country : Maldives Status :
Operational |
|
Company History |
Date Details 1980 - Dec Incorporated as the first
public company and registered as a Public Limited Company with Ministry of
Economic Development under company Law no. 10/96. 1990 - Feb Re-registered
with the Ministry of Trade & Industries. 2006 - Feb Opened Gdh. Thinadhoo
Regional Office. 2006 - Oct Opened L. Gan Regional Office. 2007 - Feb
Inaugurated MTCC Atoll Ferry Network by the Former President. 2007 - Apr
Opened Passenger Sales Office at MTCC Thinadhoo Regional Office. 2007 - May
Introduced Suzuki outboard engines to Maldivian market. 2007 - Jun
Inaugurated bus transfer services by Former President, Mr. Maumoon Abdul
Gayyoom. 2008 - Mar Opened Raa. Ungoofaaru Regional Office. 2011 - Feb Launched Cargo Ferry & Airport
Express Service. 2012 -Paved Thimarafushi Airport runway. - Extended
Gulhifalhu ferry services. 2013 -Introduced Volvo City Bus to improve bus
services. - Commenced automated fare collection system for Hulhumale ferry
service. -Started Dhathuru Card for Hulhumale Ferry Services. 2014 Became a
distributor of Caterpillar Heavy Equipment. 2015 -Introduced shuttle bus
service between Ibrahim Nasir international Airport and Hulhumale. -Commenced
Hulhumale' ferry service, a double decker ferry of 204 passenger capacity.
-Completed 26 construction related projects. -Awarded 41 construction related
projects. |
|
Awards |
Award Name Awarded by Awarded Date 2007
Achievement Award SUZUKI CORP 2008 - Mar |
|
Approved Signatures |
The Company Director/s listed below maintain the legal right
to sign on behalf of the company: Name Mr. Ahmed
Abdulla Mr. Ahmed Iruhash Mr.
Ahmed Latheef Mr. Ahmed Niyaz Mr. Ahmed Saeed Mr. Ahmed Salam Mr.
Aishath Fazeena Mr. Ibrahim
Ziyath Mr. Mohamed Farshath Mr. Mohamed Hilmy Ms. Nashima
Abdul Latheef |
|
Registered Legal Address |
7Fl MTCC Tower, Boduthakurufaanu Magu, Male 20057 |
Primary
Products
|
|
|
Products / Materials / Services Description |
Activity |
|
Auctions |
Service |
|
Building construction |
Service |
|
Construction equipment rental |
Service |
|
Contracting |
Service |
|
Docking services |
Service |
|
Financial Year |
2017-12 |
2016-12 |
2015-12 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
MVR |
MVR |
MVR |
|
Consolidated Accounts |
Yes |
Yes |
Yes |
Profit
and Loss
|
|||
|
Revenue |
1.296.657.136 |
1.311.517.885 |
1.040.297.266 |
|
Operating Costs |
1.153.461.865 |
1.165.325.171 |
905.187.035 |
|
Operating Profit |
143.195.271 |
146.192.714 |
135.110.231 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
321.328 |
218.131 |
523.302 |
|
Financial Expenses |
27.949.550 |
30.709.582 |
19.279.826 |
|
Extraordinary Income |
16.972.932 |
16.031.300 |
69.325.490 |
|
Extraordinary Costs |
- |
- |
- |
|
Profit before Tax |
132.539.981 |
131.732.563 |
185.679.197 |
|
Tax |
-12.826.500 |
16.349.306 |
29.301.445 |
|
Profit after Tax |
145.366.481 |
115.383.257 |
156.377.752 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
145.366.481 |
115.383.257 |
156.377.752 |
Balance
Sheet
|
|||
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
915.212.302 |
317.112.797 |
297.473.632 |
|
Other Tangible Assets |
0 |
0 |
0 |
|
Total Tangible Assets |
915.212.302 |
317.112.797 |
297.473.632 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
455.132 |
936.209 |
1.395.324 |
|
Total Intangible Assets |
455.132 |
936.209 |
1.395.324 |
|
Investments |
0 |
0 |
0 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
117.855.297 |
65.330.058 |
47.216.789 |
|
Total Other Fixed Assets |
117.855.297 |
65.330.058 |
47.216.789 |
|
Total Fixed Assets |
1.033.522.731 |
383.379.064 |
346.085.745 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
213.227.617 |
238.867.752 |
208.966.757 |
|
Total Inventories |
213.227.617 |
238.867.752 |
208.966.757 |
|
Trade Receivables |
859.223.697 |
826.135.640 |
721.079.399 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
859.223.697 |
826.135.640 |
721.079.399 |
|
Cash |
104.876.379 |
32.475.637 |
63.714.508 |
|
Other Current Assets |
0 |
0 |
0 |
|
Total Current Assets |
1.177.327.693 |
1.097.479.029 |
993.760.664 |
|
Total Assets |
2.210.850.424 |
1.480.858.093 |
1.339.846.409 |
|
Trade Payables |
514.468.790 |
625.830.206 |
542.144.912 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
89.873.090 |
50.047.395 |
68.597.313 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
254.343.510 |
144.521.433 |
166.261.340 |
|
Total Current Liabilities |
858.685.390 |
820.399.034 |
777.003.565 |
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
387.769.106 |
43.598.196 |
45.365.238 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
387.769.106 |
43.598.196 |
45.365.238 |
|
Total Liabilities |
1.246.454.496 |
863.997.230 |
822.368.803 |
|
Called Up Share Capital |
25.000.000 |
25.000.000 |
25.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
469.752.245 |
336.385.764 |
237.002.507 |
|
Other Reserves |
469.643.683 |
255.475.099 |
255.475.099 |
|
Total Shareholders Equity |
964.395.928 |
616.860.863 |
517.477.606 |
Other
Financials
|
|||
|
Contingent Liabilities |
|||
|
Working Capital |
318.642.303 |
277.079.995 |
216.757.099 |
|
Net Worth |
963.940.796 |
615.924.654 |
516.082.282 |
Ratios
|
||||
|
Pre Tax Profit Margin |
10.22 |
10.04 |
17.85 |
|
|
Return On Capital Employed |
9.8 |
19.95 |
32.99 |
|
|
Return On Total Assets Employed |
5.99 |
8.9 |
13.86 |
|
|
Return On Net Assets Employed |
13.74 |
21.36 |
35.88 |
|
|
Sales / Net Working Capital |
4.07 |
4.73 |
4.8 |
|
|
Stock Turnover Ratio |
16.44 |
18.21 |
20.09 |
|
|
Debtor Days |
241.87 |
229.92 |
253 |
|
|
Creditor Days |
144.82 |
174.17 |
190.22 |
|
|
Current Ratio |
1.37 |
1.34 |
1.28 |
|
|
Liquidity Ratio Or Acid Test |
1.12 |
1.05 |
1.01 |
|
|
Current Debt Ratio |
0.89 |
1.33 |
1.5 |
|
|
Gearing |
||||
|
Equity In Percentage |
43.63 |
41.68 |
38.66 |
|
|
Total Debt Ratio |
1.29 |
1.4 |
1.59 |
|
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
Name |
Gender |
Position |
|
Ahmed Niyaz |
Male |
Chairman Director |
|
Ismail Adhuham |
Male |
General Manager |
|
Waseem Akram |
Male |
Finance Controller |
|
Shifau Ali |
Male |
General Manager (2010-03-28) |
|
Ismail Fariq |
Male |
Department Head (2010-04-26) |
|
Mohamed Farshath |
Male |
Non-Executive Director Director |
|
Aishath Fazeena |
Male |
Non-Executive Director Director |
|
Aishath Susan Haneef |
Female |
Executive |
|
Mohamed Hilmy |
Male |
Chief Financial Officer (2015-07-07) |
|
Ahmed Iruhash |
Male |
Department Head |
|
Mohamed Khusham |
Male |
General Manager |
|
Ahmed Latheef |
Male |
Executive |
|
Ibrahim Latheef |
Male |
General Manager |
|
Fathimath Liusha |
Female |
Company Secretary |
|
Mohamed Luayyu |
Male |
Department Head |
|
Nasrath Mohamed |
Male |
Non-Executive Director Director |
|
Mohamed Nazim |
Male |
Executive |
|
Ahmed Niyaz |
Male |
Chairman |
|
Ahmed Kurik Riza |
Male |
Deputy Managing Director Director |
|
Ahmed Saeed |
Male |
General Manager |
|
Ahmed Salam |
Male |
Executive |
|
Ibrahim Ziyath |
Male |
Chief Executive Officer Director |
|
Hussain Zuhury |
Male |
Executive |
|
Ahmed Abdulla |
Male |
Director |
|
Hassan Muneer |
Unknown |
Director |
|
Mansoor Zubair |
Unknown |
Director (2009-04-29) |
|
Nashima Abdul Latheef |
Female |
Director |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 25.000.000 |
|
Issued Share Capital 25.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
BANK OF MALDIVES PLC |
Maldives |
|
|
REPUBLIC OF MALDIVES |
Maldives |
47.8 |
|
Public shareholding traded via Stock Exchange |
|
44.7 |
|
MALDIVES NATIONAL SHIPPING LTD |
Maldives |
7.5 |
Ultimate
Holding Parent
|
|
No Ultimate Holding Parent for this company. |
Immediate
Holding Parent
|
|
Name Status Registration Address Number |
|
No Immediate Holding Parent for this company. |
Subsidaries
|
||
|
Name |
Status |
Registration Address Number |
|
MALDIVES REAL ESTATE INVESTMENT CORP
PVT LTD |
Active |
MTCC Tower 24 Boduthakurufaau Magu, Magu, Male
20057 |
Affiliates
|
|
No affiliates for this company. |
Negative
Information
|
|
No negative information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
|
MVR |
1 |
INR 4.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.