MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE MERIDIEN STEELS |
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Registered Office : |
#
459, Old Moor Street, Colombo- 12 |
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Country : |
Sri Lanka |
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Legal Form : |
Partnership Company |
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Line of Business : |
Importers and Distributor of
General Hardware Merchants |
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 : |
Small company |
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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 |
: |
THE MERIDIEN STEELS |
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Legal Form & Status |
: |
Partnership
Company (In Operation) |
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Managing Partner |
: |
Mr. V. Mahathewa |
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Primary Line of Business |
: |
Importers and distributor of
General Hardware Merchants |
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Head Office & Place of
Business |
: |
#
459, Old Moor Street, Colombo- 12 Stores Address: # 529, K. Cyril C. Perera
Mawatha, Colombo- 12 Tel No: (00 94 11) 4 614589 Fax No:(00 94 11) 2 472082 Tel. No: (00 94 11) 2 325014 / 2 325015 / 4
719507 Fax No: (00 94
11) 2 449225 E-mail: meridiensteels@gmail.com |
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No. of Employees |
: |
12+ |
COMPANY DETAILS - Registration and Shareholder Details
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Managing Partner |
: |
Mr. V. Mahathewa |
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Bankers |
: |
HNB, Peoples Bank |
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FINANCIAL DETAILS - Most recent available
Financial Information
THE COMPANY HAS
DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
Current investigation
·
History.
The Subject Company THE MERIDIEN STEELS is a Partnership Company.
·
Location.
The Subject Company is located at the client given
address. # 459, Old Moor Street,
Colombo- 12
·
Operations
Details.
General
The subject company import the general hardware merchants from India
Products
All kinds of Steel
items.
Country
Local Market
Employees
12+
·
Financial Data
The Company has
declined to provide information on its finance
·
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 |
|
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 |
|
<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%)