MIRA
INFORM REPORT
|
Report Date : |
22.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
CITIZEN HARDWARE
STORES |
|
|
|
|
Registered Office : |
# 406, Sri Sangaraja Mawatha, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01st January 1987 |
|
|
|
|
Com. Reg. No.: |
WP / 20168 |
|
|
|
|
Legal Form : |
Partnership Company |
|
|
|
|
Line of Business : |
Importers & Distributors Hardware |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
GENERAL - Basic information at a glance
|
Name of Subject of
Inquiry |
: |
CITIZEN HARDWARE
STORES |
|
Legal Form & Status |
: |
Partnership Company (In Operation) |
|
Managing Partner |
: |
Mr. M.S.M.Rifai |
|
Primary Line of Business
|
: |
Importers & Distributors Hardware. |
|
Head office & Place of Business |
|
# 406 , Sri Sangaraja Mawatha Tel : (00 94 11) 244 0615 / 243 5261 Fax : (00 94 11) 243 5261 |
|
No. of Employees |
: |
- Not Disclosed- |
COMPANY DETAILS - Registration and
Shareholder Details
|
Registration
No |
: |
WP / 20168 |
|
|
Date
of Registration |
: |
01st January 1987. |
|
|
Registered
Office |
: |
# 406 , Sri Sangaraja Mawatha , |
|
|
Partners |
: |
Mr. M.S.M.Rifai |
Managing Partner |
|
Mr. F.Z.Snabdeen |
Partner |
||
|
Auditors |
: |
-Not Disclosed- |
|
|
Company
Secretaries |
: |
-Not Disclosed- |
|
|
Bankers |
: |
-Not Disclosed- |
|
CURRENT INVESTIGATION
History
The Subject Company CITIZEN
HARDWARE STORES is a Partnership Company incorporated in 01st January 1987.
Location
The Subject Company is located at #
406 , Sri Sangaraja Mawatha ,Colombo -10 and the client given address is a
store of the subject company # 480 / 12
Sri Sangaraja Mawatha ,Colombo -10.
Operational
Details
General
The subject company primary line of business is an importer and
distributor of Ferrous / Non Ferrous & engineering Plastics.
Products
M.S.Plate
up to 150mm , Full sheet or Flame Cut to required size / shape , B/S Shafting ,
M/s Hollow Shafting , Carbon Steel Rods / Flats.
Country
Employees
- Not Disclosed-
Financial Data
The company has declined to provide information on its finances
General Comments
With grade difficulty and persuasion we convinced the partner to give us background information
pertaining to the company and he finally gave us the details that are in this
report. He declined to provide any financial information.
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:
Business Scale Small
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%)