MIRA
INFORM REPORT
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Report Date : |
14.08.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
# 300A, |
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Country : |
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Date of Incorporation : |
30th
June 2005 |
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Com. Reg. No.: |
N (PVS) 42264 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Exporters and Distributors of Tea. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
GENERAL - Basic information at a glance
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Name of Subject of Inquiry |
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Legal
Form & Status |
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Private Limited Liability Company (In operation) |
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Managing Director |
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Mr. Wanniarachchige Mahinda |
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Primary Line of Business |
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Manufacturers, Exporters and Distributors of Tea. |
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Head Office & Place of Business |
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# 300A, Kelaniya.
Tel. No: (00 94 11) 492 3281
/ 2 Fax No: (00 94 11) 291 3017 E-mail: cfreshteas@sltnet.lk Web : www.cfreshteas.com |
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No. of Employees |
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Approximately 30 employees |
COMPANY DETAILS - Registration and
Shareholder Details
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Registration No |
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N (PVS) 42264 |
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Date of Registration |
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30th
June 2005 |
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Registered Office |
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# 300A, |
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Board Of Directors As At 29th December 2006 |
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Mr. Wanniarachchige Mahinda |
Managing Director |
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Mr. Pitiyage Samantha Ratna Kumara |
Director |
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Authorised Share Capital |
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Rs 20,000,000.00 |
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Issued Share Capital |
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Rs. 15,000,020.00 |
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Nominal Value of Share |
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Rs. 10.00 |
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Share Holders As At 29th December 2006 |
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Share Holders |
No of Shears |
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Mr. Gamlath Kankange Manoj Kumara. |
Nil |
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Mr. Hewage Gamini Jayasiri. |
Nil |
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Mr. Wanniarachchige Mahinda. |
562,501 |
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Mr. Pitiyage Samantha Ratna Kumara. |
562,501 |
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Mr. Mohammed Hassan Eslam Jamal Golzari (British). |
375,000 |
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Secretaries
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:
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Financial Consultants
and Allied Services Ltd |
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Auditors |
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Tuder V Perera
& Company |
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Bankers |
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-Not Disclosed- |
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CURRENT INVESTIGATION
History
The Subject Company CEYLON FRESH TEAS (PVT) LTD is a Private Limited liability Company incorporated in 30th June 2005.
Location
The Subject Company is located at the client given address # 300A,
Operations Details
General
The subject company primary line of business is Manufacturers, Exporters and Distributors of Tea.
Products
Loose Teas, Bulk Teas, and Tea Bags (Black Tea and Green Tea)
Country
Employees
The employee strength of the subject company is approximately 30 employees.
Financial Data
The company has declined to provide information on its
finances.
General Comments
The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from non-formal sources but clearly originating from the company.
Trade references
The subject company did not provide any trade reference referrals
Credit
Recommendations
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.
ANALYSIS & RATING
- Appraisal and Rating
of Subject Company
Rating:
Market Situation : Very Competitive
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)