MIRA INFORM REPORT

 

 

Report Date :

12.05.2007

 

IDENTIFICATION DETAILS

 

Name :

SOOSEY MARIAN FERNANDO & SON (PVT)

 

 

Registered Office :

# 48,4th Cross Street, Colombo 11

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

18th May 1995

 

 

Com. Reg. No.:

N (PVS) 14981

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importers & Dealers of Onions and Potatoes

 

 

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 :

Unknown

 

 

Litigation :

Clear

 

 

GENERAL - Basic information at a glance

     

 

Name of Subject of Inquiry

:

SOOSEY MARIAN FERNANDO & SON (PVT)

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

Mr. X. A. Rex Ferenando

Primary Line of Business

:

Importers & Dealers of Onions and Potatoes.

Head office

&

Place of Business

 

:

 

# 48 4th Cross Street,

Colombo 11.           

 

Tel. No: (00 94 11) 232 0985

Fax No: (00 94 11) 243 6050

 

No. of Employees

:

Approximately 10

 

 

COMPANY DETAILS  - Registration and

Shareholder Details

 

Registration No

:

N (PVS) 14981

Date of Registration

:

18th May 1995

Registered Office

:

# 48,4th Cross Street, Colombo 11.

Board of Directors

As At

14th  January 2002

:

Mr. Xavoer Anthony Rex Fernando

Managing Director

Mr. Anthony Innocent Oliver Fernando

Director

Mr. Aloysias Flavier Fernando

Director

Mrs. Stephen Brigett Mary Shanthi Fernando

Director

Mrs. Jose Fatima Fernando

Director

Mr. Anthony Tyner Fernando

Director

Mrs. Theresa Antomettr Mariya Gerty Fatima

Fernando

Director

Authorised Share Capital

:

Rs.    10,000,000.00          

Issued Share Capital

:

Rs.      1,000,000.00

Nominal Value of Share

:

Rs.                  10.00

 

Share Holders

As At

14th  January 2002

:

Share Holders

No. of

Shares

Mr. Xavoer Anthony Rex Fernando

14,500

Mr. Anthony Innocent Oliver Fernando

14,250

Mr. Aloysias Flavier Fernando

14,250

Mrs. Stephen Brigett Mary Shanthi Fernando

14,250

Mrs. Jose Fatima Fernando

14,250

Mr. Anthony Tyner Fernando

14,250

Mrs. Theresa Antomettr Mariya Gerty Fatima Fernando

14,250

Auditors

:

Rajan &Renganathan Company

Company Secretaries

:

Siska Management System (Pvt) Limited

Bankers

:

Bank of Ceylon

 

 

CURRENT INVESTIGATION

 

History

 

The Subject Company SOOSEY MARIAN FERNANDO & SON (PVT)is a Private    Limited   liability Company incorporated on 18th May 1995.

 

Location.

 

The Subject Company is located at the client given address # 48 4th Cross Street, Colombo 11.           

 

Operational Details.

 

General

The subject company primary line of business is importer and wholesaler of Potatoes, Garlicky, Pulses and Grains.

 

Products

Potatoes, Garlicky, Pulses and Grains.

 

Import Country

India and Pakistan

 

 

Employees

The employee strength of the subject company is approximately 10 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 computerized 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

 

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

 

 

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%)

 

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