MIRA INFORM REPORT

 

 

Report Date :           

21.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SUNIL TRADERS

 

 

Registered Office :

# 57, 5th Cross Street, Colombo-11.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

02.12.1985

 

 

Com. Reg. No.:

W 1130

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Import, Export and Distribution of Fresh Fruits & other commodities

 

 

No. of Employees :

200 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Sri Lanka

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GENERAL- Basic information at a glance

     

Name of Subject of Inquiry

:

SUNIL TRADERS

Legal Form  & Status

:

Partnership Concern    (In Operation)

Managing Partner

:

Sunil Muthumala

Primary Line of Business

:

Import, Export and Distribution of Fresh Fruits & other commodities

Head Office

 

 

 # 180/ 53, Peoples Park Shopping Complex,

Colombo – 11.

 Sri Lanka          

Tel. No: (00 94 11)  247 2105/ 254 2613

Fax No: (00 94 11)  233 5036

E-Mail : suniltraders@sltnet.lk

 

Office

:

 

57, 5th Cross Street,
Colombo 11,

Sri lanka.

 

Tel. No: (00 94 11) 242 1176

Fax. No: (00 94 11) 233 6882

 

Head Office

:

Outlets

LG93, Peoples Park Shopping Complex,

Colombo 11.

 

Tel. No: (00 94 11) 232 8397

Fax. No: (00 94 11) 254 2316

 

95, 4th Cross Street, 
Colombo 11.

 

Tel. No: (00 94 11) 232 6041

 

Cold Rooms

800/2, Kaduwela Road,
Malabe.

 

Tel. No: (00 94 11) 256 2648

Fax. No: (00 94 11) 2562649

 

 

Associate Companies

:

 

(a) Leisure world Water Parks (Pvt) Ltd.

        Seethawaka, Kaluaggala.

 

        Tel. No: (00 94 36) 225 3999

        Fax No: (00 94 36) 225 3426

        E-mail : Leisureworld@sltnet.lk

 

b) Leisure World Travel & Tourism (Pvt) Ltd    

 

(c) Sha Lanka Trading,

      Pelawatte, Battaramulla.

       

No. of Employees

:

Approximately 200

 

 

CONCERN  DETAILS- Registration and Shareholder Details

 

Registration No

:

W 1130

Date of Registration

:

02nd December 1985

Registered Office

:

 

# 57, 5th Cross Street, Colombo-11.

 

Partners

 

:

Sunil Muthumala

Managing Partner

S. Sujeeva Muthumala

Partner

S. W. Muthumala

Partner

Auditors

:

Wickramasinghe & Dayananda

Company Secretaries

:

-Not Applicable-

Bankers

:

·         Bank of Ceylon

·         Sampath Bank

·         Peoples Bank

Importers of

:

Products : Fresh Fruits 

Country : India, Pakistan, Australia, New Zealand, south Africa

Types of customers

:

·         Retailers

·         Wholesalers

 

 

Information Parted By

 

Name (i)           : Mr. sagar

Designation     : Import Department

Contact No.      : (00 94 11) 2421176

 

Name (ii)          : Mr. Krishna

Designation     : Accountant

Contact No.      : (00 94 11) 5230178

Date                 : 20.12.2011

 

 

CURRENT INVESTIGATION

                          

                                 

                                                     Concern  Logo

 

·         History.

 

The Subject Concern  SUNIL TRADERS is a Partnership Concern  incorporated in 02nd December 1985 under registration number W 1130.   

 

The subject concern  has four branches which are located in deferent places in the Colombo City in close proximity to each other, where they import and distribute their products in wholesale and retail. They also maintain large cold rooms at Malabe, and Battaramulla (in close proximity to each other) approx. 15 kilo meters from Colombo.

 

·         Location.

 

The client given address # 57, 5th Cross Street, Pettah, Colombo – 11, is the Registered Office of the subject concern .

 

·         Operations Details.

 

General

 

The subject concern  primary line of businesses is Import and Distribution of Fresh Fruits & other commodities.

 

                   Sha Lanka Trading is an Associate Company of Sunil Traders is import and distributor of a

                   Milk powder from Australia and New Zeland under the brand name “Candy”

 

Imports Products

Oranges, Apple, Grapes, Pomegranates, Onion, Potato, Chillies, Garlic, etc

 

Export Products

Tea, cashew nuts, Coconuts, Pineapples, Vegetable….etc

 

Country

India, Pakistan, China, Australia, New Zeland, Iraq, South Africa.

 

 

Employees

                  Approximately 200

 

·         Financial Data

The subject concern  has declined to provide information on its finance.

                    Further, In Sri Lanka, Private Companies do not publish their Accounts for Public use  

Other than the Shareholders.

 

 

·         General Comments

                     When we contact the Managing Director of the Subject Concern  responded well to our inquiries and provided background and operational information and as such all information in this report has been obtained from the concern .

 

 

·         Trade references

                  The subject concern  did not provide any trade reference referrals

 

·         Credit Recommendations

                    Since no financial information has been forthcoming from the concern , it is not possible to comment on the merits or otherwise of the concern .

 

No computerised data bases exist to make checks whether the partners or the concern  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.53.03

UK Pound

1

Rs.82.34

Euro

1

Rs.68.99

 

 

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

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.