MIRA INFORM REPORT

 

 

Report Date :

19.01.2011

 

IDENTIFICATION DETAILS

 

Name :

RAJAPAKSE TRADING (PVT) LTD

 

 

Registered Office :

# 287, Grandpass Road, Colombo-14

 

 

Country :

Si Lanka

 

 

Date of Incorporation :

02.04.1996

 

 

Com. Reg. No.:

PV 7156

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Exporters and Dealers in rubber

 

 

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 :

Unknown

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Sri lanka

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

information parted by

 

Name                :           Mr. Jeward

Designation       :           Manager

Date                 :           17.01.2011

 

 

GENERAL- Basic information at a glance

    

a.

Name of Subject of Inquiry

:

RAJAPAKSE TRADING (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company (In Operation)

c.

Chairman

:

M. J. Ahamed Sabir  

d.

Primary Line of Business

:

Exporters and Dealers in rubber

e.

Place of Business

:

 

# 287, Grandpass Road,

Colombo- 14,

Sri Lanka

 

Tel. No: (00 94 11)  243 3015 / 234 3624 / 254 3624

Fax No: (00 94 11)  244 5023

 

Email: ratra@eureka.lk

Location : Owned

 

f.

No. of Employees

:

31

g.

Sister Concern

:

SNS Trading Company, Colombo, Sri Lanka

Activity : Trader of Rubber

 

 

COMPANY DETAILS- Registration and Shareholder Details

 

a.

Old Registration No

:

N (PVS) 16999

Year of Registration

:

02nd APRIL 1996

b.

New Registration No

:

PV 7156

Year of Registration

:

04th September 2008

c.

Registered Office

:

# 287, Grandpass Road, Colombo- 14, Sri Lanka

d.

Board of Directors

As At

14th October 2010

:

M. J. Ahamed Sebir  

Chairman

S. H. Saheed

Managing Director

M. M. Kamarunissa N. Sabir       

Director

F. Faheema Saheed  (Srilankan)

Director

e.

Auditors

:

B. D. O. Partners

f.

Company Secretaries

:

B. D. O. Secretaries (Pvt) Ltd

g.

Bankers

:

Bank of Ceylon, Corporate Branch, Colombo 

h.

Issued Share Capital

:

Rs.      40,000,000.00

i.

Nominal Value of Share

:

Rs.                    10.00

j.

 

Share Holders

As At

14th October 2010

:

Share Holders

No. of Shares

F. Faheema Saheed

700,000

Mohamed Jaleel Ahamed Sebir

1,300,000

M. M. Kamarunissa N. Sabir   

700,000

Shezard Hashim Saheed

1,300,000

 

 

CURRENT INVESTIGATION

 

·         History.

 

                  The Subject Company RAJAPAKSE TRADING (PVT) LTD is a Private Limited Liability Company incorporated on 02nd April 1996 under registration number N (NPVS) 16999 and then the company was re-registered on 4th September 2008 under registration number PV 7156.

 

·         Location.

 

The Subject Company is located at the client given address # 287, Grandpass Road, Colombo- 14, Sri Lanka


 

·         Operational Details.

 

General

The subject company primary line of business is Manufacturer, Importers & Exporter of Natural Rubbers, Technically specified rubber and also Millers of rubber.

 

Products

         Ribbed Smoke Sheet rubber, Thick Pale Crepe, Brown Crepe and Skim Crepe, Sole Crepe, Centrifuged Latex  

 

Export Countries

India, China, Pakistan, USA, London, UK, France, Netherlands, France

 

Export Products

Rubber

 

Import Countries

India, Taiwan, Vietnam, Malaysia, Indonesia, Bangladesh

 

Import Products

Raw Materials

 

No of Employees

31

 

·         Financial Data

The company has declined to provide information on its finances

           

·         Trade references

R1 Interaction India Limited

 

Trading Terms:

Purchasing Terms              L/C, Cash, Credit

Selling Terms                    Cash, Credit

 

Customer Types:

Industries   

 

·         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.45.53

UK Pound

1

Rs.72.56

Euro

1

Rs.60.62

 

 

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.