MIRA INFORM REPORT

 

 

Report Date :

05.06.2008

 

IDENTIFICATION DETAILS

 

Name :

EARN IMPORTS

 

 

Registered Office :

# 46 Luckmanjee Square, Grandpass Road , Colombo –14

 

 

Country :

Sri lanka

 

 

Legal Form :

Proprietorship Company

 

 

Line of Business :

Importers and Distributors of Food items.

 

 

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.

Small

 

Status :

Small Concern

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

GENERAL - Basic information at a glance

     

Name of Subject of Inquiry

:

EARN IMPORTS

Legal Form  & Status

:

Proprietorship Company (in operation)

Proprietor

:

Mr.Ganesh S.Vignayagasundaran

Primary Line of Business

:

Importers & Distributors of Food items.

 

 

Place of Business

 

:

 

# 189, 4th Cross street,

2nd Floor,

Colombo 11

 

Tel. No: (00 94 11) 243 0508

Fax No: (00 94 11) 535 6467

 

Mobile: (00 94 77) 7582825- Mr. S.Vignayagasundaran

 

Email: earn_ganesh@yahoo.com

 

No. of Employees

:

- Not Disclosed -

 

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

- Not Disclosed -

Date of Registration

:

- Not Disclosed -

Registered Office

:

 

# 46 Luckmanjee Square, Grandpass Road , Colombo –14

 

Proprietor

:

Mr.Ganesh S.Vignayagasundaran

 

Auditors

:

- Not Disclosed -

Bankers

:

 

- Not Disclosed -

 

 

 

FINANCIAL DETAILS

   

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

CURRENT INVESTIGATION                      

 

The Subject Company EARN IMPORTS is Proprietorship Company. The client given address # 46 Luckmanjee Square, Grandpass Road, Colombo –14 is a residence of Mr.Ganesh S.Vignayagasundaran. Within the premises there is a separate single storey building for the office and a separate two storey building for the residence. The stores complex is situated elsewhere but no information was forthcoming.  

 

The subject company is a importer and distributor of food items.

 

Mr Ganesh S.Vignayagasundaran Proprietor of the subject company refused to provide information for the preparation this report and also declined to provide information on its finance.

 

 

Mr Ganesh S.Vignayagasundaran and Mr.S.Sithamparanathan are brothers. Mr.S.Sithamparanathan is a Proprietor of  SEVEN HILLS IMPORT AND EXPORTS. We have along with this report sent a report on SEVEN HILLS IMPORT AND EXPORTS as well. Both companies are located at the client given address # 46 Luckmanjee Square, Grandpass Road, Colombo –14.

 

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.

 

The subject company did not provide any trade reference referrals.

 

                                        

 

           

 

 

 

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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions