MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ASSOCIATED TRADERS RUBBER EXPORTS (PVT) LTD 

 

 

Registered Office :

478/3-B K Cyril C. Perera Mawatha, Colombo - 13

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

31.08.1999

 

 

Com. Reg. No.:

PV 2844

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Exporter of rubber products

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Sri Lanka

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

GENERAL- Basic information at a glance

       

Name of Subject of Inquiry

:

ASSOCIATED TRADERS RUBBER EXPORTS (PVT) LTD

Legal Form  & Status

 

:

 

Private Limited Liability Company  (In Operation)

Managing Director

:

M. Thahir Mohamed Zaruk

Primary Line of Business

:

Exporter of rubber products

Place of Business

:

 

 # 478/3-B K Cyril C.Perera Mawatha,

Colombo-13

 

Tel. No: (00 94 011) 243 2137

Fax No: (00 94 011) 243 9938

 

E-mail: asr@slt.net

 

Number of Employees

:

Approximately 200

           

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N(PVS) 24420

Date of Registration

:

31st August 1999

Re-registration No

:

PV 2844

Date of Re-registration

:

13th March 2008

Registered Office

:

478/3-B K Cyril C. Perera Mawatha, Colombo - 13

Board of Directors

As At

24th November 2010

:

M. Thahir Mohamed  Zaruk 

Managing Director

H. L. Mohamed Thawfeek  

Director

M. Zaruk

Director

M. Isthiaq Zaruk

Director

M. N. Mohamed Nafis

Director

Issued Share Capital

:

Rs. 5,000,000.00       

Nominal Value of Share

:

Rs.             10.00

Share Holders

As At

24th November 2010

:

M. Thahir Mohamed  Zaruk 

50,000

F. Nashath Saruk

50,000

F. Farhath Zaruk

50,000

M. I. Zaruk

232,500

M. Zaruk

50,000

H. L. Mohamed Thawfeek  

50,000

M. N. Mohamed Nafis

17,500

Auditors

:

Amarasekera & Co 

Company Secretaries

:

Management Applications (Pvt) Ltd

Bankers

:

Bank of Ceylon

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

The Subject Company ASSOCIATED TRADERS RUBBER EXPORTS (PVT) LTD is a Private Limited liability Company incorporated on 31st August 1999 under registration number N (PVS) 24420 and then the company was re-registered on 13th March 2008 under registration number PV 2844.

 

·         Location.

 

The Subject Company is located at the client given address 478/3-B K Cyril C. Perera Mawatha, Colombo – 13.

 

·         Operational Details.

 

General

                  The subject company primary line of business is an exporter of Rubber products

 

Export Products

Crepe Rubber and Sheet Rubber

 

Export Countries

Pakistan, Chile, Peru, UK, Bangladesh, Greece, India, Kenya, Yeman, South Korea

 

Employees

                  Approximately 200

 

·         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.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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%)

 

 

 

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