MIRA
INFORM REPORT
|
Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
NISSICO TRADE
& INDUSTRIES |
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Registered Office : |
# 158, Bankshall Street, Colombo-11 |
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Country : |
Sri
Lanka |
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Legal Form : |
Partnership
Company |
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Line of Business : |
Engaged in the business of Buying and Selling
Finished Plastic Ware |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
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Status : |
Moderate
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
TABLE OF CONTENTS
1 GENERAL -
Basic
information at a glance
2 COMPANY DETAILS - Registration and
Shareholding details
3 FINANCIAL DETAILS - Most recent available
financial information
4 CURRENT INVESTIGATION - Clarifications obtained
from Subject Company
5 ANALYSIS & RATING - Appraisal and Rating of Subject Company
6 GLOSSARY -
Explanations of terms used in this report
GENERAL - Basic information at a glance
|
Name
of Subject of Inquiry |
: |
NISSICO TRADE
& INDUSTRIES |
|
Legal Form & Status |
: |
Partnership Company (In operation) |
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Managing Partner |
: |
Mr. Ali Afgar
Abbas |
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Primary
Line of Business |
: |
Buying and Selling Agents |
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Head Office & Place of Business |
: |
# 158, Bankshall
Street, Colombo-11. Tel. No: (00 94 11) 239 0746 / 243 0602 Fax No: (00 94 11) 2437801 E-mail: nissico@slt.lk |
|
No. of Employees |
: |
04 |
COMPANY DETAILS - Registration and Shareholder Details
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Registration No |
: |
-Not Disclosed- |
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Date of Registration |
: |
-Not Disclosed- |
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Registered Office |
: |
-Not Disclosed- |
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Partners |
: |
Mr. Ali Afgar
Abbas |
Managing Partner |
|
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Mr. Mansoor Abbas |
Partner |
|||
Secretaries
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:
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-Not Disclosed- |
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Auditors |
: |
-Not Disclosed- |
||
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Bankers |
: |
-Not
Disclosed- |
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FINANCIAL DETAILS - Most recent available
Financial Information
THE COMPANY HAS DECLINED TO PROVIDE
INFORMATION ON ITS FINANCES
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A |
Revenue |
: |
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B |
Cost of Sales |
: |
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C |
Gross Profit |
: |
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D |
Other Income |
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E |
Administration
Expenses |
: |
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F |
Distribution
Expenses |
: |
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G |
Financing
(cost)/Income |
: |
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H |
Net Profit /
(Loss) before Tax |
: |
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I |
Income Tax
(expenses)/ Release
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: |
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J |
Net Profit /
(Loss) After Tax: |
: |
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FINANCIAL DETAILS - Most recent available
Financial Information (Cont/d….)
THE COMPANY HAS DECLINED TO
PROVIDE INFORMATION ON ITS FINANCES
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a) |
Non-current
Assets |
: |
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b) |
Investment |
: |
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c) |
Current Assets |
: |
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d) |
Current
Liability |
: |
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e) |
Non-current
liability |
: |
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f) |
Total
Liabilities |
: |
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g) |
Total Assets |
: |
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h) |
Net Worth |
: |
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CURRENT INVESTIGATION
The
Subject Company NISSICO
TRADE & INDUSTRIES is a Partnership Company. And
located at he client given address # 158, Bankshall Street, Colombo-11.
The subject company NISSICO TRADE & INDUSTRIES,
primary nature of business is Buying and Selling Finished Plastic Ware. The
subject company is situated in the heart of the city of Colombo.
When Mr. Ali Afgar Abbas, Managing
partner was contacted, we were
informed that he has left the island on business and will be back only at the
end of June. The subject company refused to provide any operational and
financial information to prepare this report in the absence of the Managing
Partner.
The employee
strength of the subject company is approximately 04 employees.
Since no
financial information has been forthcoming from the company, it is not possible
to comment on the merits or otherwise of the company.
No computerised data bases exist to make checks whether the partners or
the company has any legal action or lawsuit initiated against any of them but
informal (but not in-depth) checks do not indicate any such cases in the public
knowledge.
The subject company did not provide any trade reference referrals.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |