MIRA INFORM REPORT

 

 

Report Date :

21st February, 2007

 

IDENTIFICATION DETAILS

 

Name :

SIFANG LANKA TRADING (PVT) LTD

 

 

Registered Office :

# 26, 1/ 1, Maligawatte Road, Colombo-10.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

18.08.2005

 

 

Com. Reg. No.:

N (PVS) 42873

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importers and Distributors of Tractors.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

GENERAL

 

- Basic information at a glance

     

a.

Name of Subject of Inquiry

:

SIFANG LANKA TRADING (PVT) LTD

 b.

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

c.

Managing Director

:

Mr. S. L. Noel Wickremesooriya    (Sri Lankan)

d.

Primary Line of Business

:

Importers and Distributors of Tractors.

e.

Head Office

&

Place of Business

 

:

 

# 26, 1/ 1, Maligawatte Road,

Colombo-10.

           

Tel. No: (00 94 11) 269 0003

Fax No: (00 94 11) 269 0005

 

E-mail: meetus@sifanglanka.com

 

f.

No. of Employees

:

Approximately  50

 

 

COMPANY DETAILS 

 

- Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 42873

b.

Date of Registration

:

18th August 2005

c.

Registered Office

:

# 26, 1/ 1, Maligawatte Road, Colombo-10.

d.

Board Of Directors

As At

18th August 2005

:

Mr. S. L. Noel Wickremesooriya      (Sri Lankan)

Managing Director

Huang Yilin  (Chinese)

Director

Zhou Haifeng   (Chinese)

Director

e.

Authorised Share Capital

:

Rs.      100,000,000.00

f.

Issued Share Capital

:

Rs.                      20.00

g.

Nominal Value of Share

:

Rs.                      10.00

h.

Share Holders

As At

18th August 2005

:

 Share Holders

No of Shears

Zhou Haifeng   (Chinese)

01

Mr. S. L. Noel Wickremesooriya (Sri Lankan)

01

i.

Secretaries

:

Corporate Affairs (Pvt) Ltd

j.

Auditors

:

-Not Appointed-

k.

Bankers

:

-Not Disclosed-

 

 

Current investigation                

 

History.

 

The Subject Company SIFANG LANKA TRADING (PVT) LTD is a Private    Limited   liability Company Incorporated on 18th August 2005.

 

The client given company name SIFANG LANKA (PVT) LTD is incorrect; it should read as         SIFANG LANKA TRADING (PVT) LTD.

 

Location.

 

The Subject Company is located at the client given address # 26, 1/ 1, Maligawatte Road, Colombo-10.

 

Operational Details.

 

General

The subject company primary line of business is an Importers and Distributors of Two wheelers and Three Wheeler Tractors.

 

The subject company is a Board of Investment (BOI) approved company.

 

Products

Two wheelers and Three Wheeler Tractors.

 

Import Countries

Pakistan, china and India.

 

Employees

The employee strength of the subject company is approximately 50 employees.

 

 

Financial Data

 

The company has declined to provide information on its finances

             

General Comments

 

When the Subject Company was contacted they were very cooperative and polite in providing the information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

 

 

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

 

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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