MIRA
INFORM REPORT
|
Report Date : |
06.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SITHY TEXTILES |
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Registered Office : |
# 214, Main Street, Colombo 11. |
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Country : |
Sri Lanka |
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Legal Form : |
Proprietorship |
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Line of Business : |
Importing and Distributing of Textiles |
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 : |
No Complaints |
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Litigation : |
Clear |
GENERAL - Basic information at a glance
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Name of Subject of Inquiry |
: |
SITHY TEXTILES |
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Legal Form & Status |
: |
Proprietorship
(in operation) |
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Proprietor |
: |
Mr. Sashiranjan |
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Primary Line of Business |
: |
Importing and Distributing of Textiles |
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Head Office & Place of
Business |
: |
# 136,/3C, Keyzer Street, Colombo 11. Mobil No: (00 94
77) 763 1151 – Mr. Sashiranjan |
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No. of Employees |
: |
Approximately 08 |
COMPANY DETAILS - Registration and Shareholder Details
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Registration No |
: |
-Not Disclosed- |
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Date of
Registration |
: |
-Not Disclosed- |
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Registered
Office |
: |
# 214, Main Street, Colombo 11. |
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Secretaries
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:
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-Not Disclosed- |
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Auditors |
: |
-Not Disclosed- |
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Bankers |
: |
-Not Disclosed- |
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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 SITHY TEXTILES is Proprietorship Company
·
Location.
The Subject Company is located at the client
given address # 136,/3C, Keyzer Street,
Colombo 11.
·
Operations
Details.
General
The subject
company primary line of business is Importing
and Distributing of Textiles
Products
Wedding Srees,
Shalwar Kits, Choly Kits, Readymade Garments, Shirting, Suiting, Dress
Materials and Fancy Items
Fancy Items Wedding Sarees
Country
India
Employees
Approximately 08
·
Financial Data
The company has
declined to provide information on its finances
·
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.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
RATING EXPLANATIONS
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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 |
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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 |
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<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%)