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MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PERKS CLOTHING
(PVT) LTD |
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Registered Office : |
# 9 Dharmashrama Mawatha, Borupana Road, Ratmalana |
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Country : |
Sri Lanka |
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Date of Incorporation : |
19.06.1995 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Men’s Garment
Manufacturer for local and export sales |
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 : |
Moderate |
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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 |
: |
PERKS CLOTHING (PVT) LTD |
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Legal Form
& Status |
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Private
Limited Liability Company (In
Operation) |
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Managing Director |
: |
Mr.
M.R.M.M.Fouzul Hameed |
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Primary Line of
Business |
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Men’s Garment Manufacturer for local and
export sales |
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Place of Business
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# 9 Dharmashrama Mawatha, Borupana Road, Ratmalana. Tel. No: (00 94 11) 262 3401 Fax No: (00 94 11) 420 5346 |
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No of Employees |
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- Not Disclosed- |
COMPANY DETAILS -Registration and Shareholder Details
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Registration No |
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N (PVS) 15184 |
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Date of Registration |
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19th June 1995 |
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Registered Office |
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No. 54, Galle Road,
Wellawate, Colombo – 06. |
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Board of Directors As At 14th January 2007 |
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Mr. Mohamed Raffeedeen Marikar Mohammed Fouzul Hameed |
Managing Director |
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Mr. Mohamed
Raffeedeen Marikar Mohamed Faiz Alavi |
Director |
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Mr. Mohamed
Raffeedeen Marikar Mohamed Hussain Sadique |
Director |
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Mr. Sithy Jawhara
Raffeedeen |
Director |
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Authorised Share Capital |
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Rs. 5,000,000.00 |
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Issued Share Capital |
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Rs. 4,000,000.00 |
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Nominal Value of Share |
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Rs. 10.00 |
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Share Holders As At 14th January 2007 |
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Share Holders |
No. of Shares |
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Mr. Mohamed Raffeedeen Marikar Mohamed
Faiz Alavi |
120,000 |
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Mr. Mohamed
Raffeedeen Marikar Mohamed Fouzul Hameed |
120,000 |
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Mr. Mohamed
Raffeedeen Marikar Mohamed Hussain Sadique |
120,000 |
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Mr. Sithy Jawhara
Raffeedeen |
40,00 |
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Auditors |
: |
Wickramasinghe Dayananda & Company |
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Company Secretaries |
: |
M & A Consultants Limited |
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current investigation
·
History.
The Subject Company PERKS CLOTHING (PVT) LTD is a Private Limited liability
Company incorporated in 19th
June 1995.
·
Location.
The subject company head office is located at
# 9 Dharmashrama Mawatha, Borupana Road,
Ratmalana and the client given
address # 54, Galle Road, Wellawate,
Colombo – 06 is a registered
office and a small showroom.
·
Operational Details.
General
The Subject Company, Perks Clothing (Pvt) Ltd
Supplies part of the
requirements of the chain store.
The same family owns and runs a chain of very
high profile and upmarket Men’s Clothing stores by the name of “HAMEEDIAS”
The subject company is a well-Known Trading company in the name “HAMEEDIAS” Specialised in Trading Men’s
Clothing. The main brand name of the garments is “LEE BOND”. The “LEE BOND”
brand is one of the very popular
brands in the Men’s clothing.
Products
Specialised in trading Mens’s Clothings
Country
Local Markets
Employees
- Not Disclosed-
·
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.
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%)