MIRA INFORM REPORT

 

 

Report Date :           

25.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FREIGHT LINKS INTERNATIONAL (PVT) LTD

 

 

Registered Office :

# 627, Sirimavo Bandaranayake Mawatha, Colombo-14

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

16.01.1992

 

 

Com. Reg. No.:

N (PVS) 8598

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Providing all kinds of Logistic service

 

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

b1

b1

 

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

:

FREIGHT LINKS INTERNATIONAL (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

CEO

:

Niran Dasarath Kadawatharatchie

Primary Line of Business

:

All kinds of Logistic service Providing

Head Office

:

 

 # Access Tower, Level 07, No. 278, Union Place,

Colombo-02

Sri Lanka.

                   

Tel. No: (00 94 11) 230 2402

Fax No: (00 94 11) 230 2412

 

No. of Employees

:

Not Disclosed

 

 

COMPANY DETAILS-Registration and Shareholder Details

 

Registration No

:

N (PVS) 8598

Date of Registration

:

16th January 1992

Re-registration No

 

PV 6641

Date of Re-registration

 

18th August 2008

Registered Office

:

# 627, Sirimavo Bandaranayake Mawatha, Colombo-14

Board of Directors

As at

14th October 2010

:

Niran Dasarath Kadawatharatchie

CEO

Fazin Farook

Director

K.K.D.A. Shantha Karunarathne

Director

M.H. Zeinul Fareed

Director

Issued Share Capital

:

Rs.        1,000,000.00               

Nominal Value of Share

:

Rs.        10.00

Share Holders

As at

14th October 2010

:

 Share Holders

No. of Shares

Fazin Farook

50,000

K.K.D.A. Shantha Karunarathne

25,000

M.H. Zeinul Fareed

25,000

Auditors

:

N.K. Associate

Company Secretaries

:

Management & Business Advisory Services (Pvt) Ltd

Bankers

 

-Not Disclosed-

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                     The Subject Company FREIGHT LINKS INTERNATIONAL (PVT) LTD is a Private    Limited   liability Company incorporated on 16th January 1992 under registration number N (PVS) 32485 and then the company was re-registered on PV 6641 under registration number PV 6641.

The Subject Company, FREIGHT LINKS INTERNATIONAL (PVT) LTD, originally incorporated in Sri Lanka in 1992 as FREIGHT LINKS EXPRESS COLOMBO (PVT) LTD then changed its name to FREIGHT LINKS EX INTERNATIONAL (PVT) LTD on 29th November 1993 and then they changed their name to FREIGHT LINKS INTERNATIONAL (PVT) LTD on 18th January 1996.

·         Location.

 

                     The subject company is located at the client given address Access Tower, Level 07, No. 278, Union Place, Colombo-02. 

                           

·         Operational Details.

 

General

                  The subject company primary line of activity is All kinds of Logistic Service providing.

 

Products

Air, Sea Cargo.

 

Country

Europe, South Asia, China, Dubai, India and Bangladesh.

 

Employees

Not Disclosed.

                 

·         Directors Details

 

01)

Name

Fazin Farook

ID Number

742071944 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

25th July 1974

Age

36 Years

Address

K-12, Nivasipura, E Kala, Kotugoda, Ja-Ela

 

02)

Name

K.K.D.A. Shantha Karunarathne

ID Number

678530662 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

18th December 1967

Age

43 Years

Address

#.435, Negombo Road, Kandana

 

03)

Name

M.H. Zeinul Fareed

ID Number

610120288 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

12th January 1961

Age

50 Years

Address

E 1, 1/5, Maligwatte Flats, Parisara Mawatha, Colombo-10

 

·         Financial Data

The subject company financial information has been obtained from non formal source.

 

·         General Comments

 

When the subject company was contacted they were very cooperative and polite in providing the information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

               

·         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.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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.