MIRA INFORM REPORT
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Report Date : |
08.03.2011 |
IDENTIFICATION DETAILS
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Name : |
GATEWAY METALS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Importers , Dealers & Distributors of Hardware Items |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GENERAL- Basic information at a
glance
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Name of Subject of Inquiry |
: |
GATEWAY METALS |
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Legal Form & Status |
: |
Proprietorship Concern (In Operation) |
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Managing Partner |
: |
Pathmanadan |
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Primary Line of Business |
: |
Importers ,
Dealers & Distributors of Hardware
Items |
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Office & Place of Business |
: |
Tel
No: (00 94 11)242 4179/ 222
2332/ 233 7554/ 243 8624 Tel/Fax
No:(00 94 11) 242 4178 E-Mail:
gateway335@yahoo.com |
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No. of Employees |
: |
Approximately
5 |
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 |
: |
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Proprietor |
: |
Pathmanadan |
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Auditors |
: |
Not Disclosed |
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Company
Secretaries |
: |
Not
applicable |
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Bankers |
: |
Hatton National bank PLC |
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CURRENT INVESTIGATION
Concern
Logo
HISTORY:
The Subject
Concern GATEWAY METALS is
Proprietorship Concern in operation.
The
Proprietorship/ Partnership companies are being registered at the Provincial Registrar
of Companies and when the owner does not provide the registration details it is
not possible to extract such details from the Registrar’s office.
Location:
The subject concern is located at the client
given address # 335, Old Moor Street,
OPERATIONAL
DETAILS:
General:
The subject concern’ primary line of business is Importing and
distribution of hardware items.
Products:
M.S.Sheets, Round and Square Tubes, Welded
Mesh, Welding Electrodes, Aluminium Sheets, Jumper Steel, Colour Cement, G.I.
Pipes – Heavy, Light and Medium, etc.
Importing Countries:
No
of Employees:
Approximately 5
General Comments:
The Subject Concern is situated at very high commercial area, and all
the shops of that place were metal goods dealers. When we visited the Subject
Concern they talk with us politely, but they refused to provide any
information. Also time we visited there, there were many customers inside the
shops.
Financial Data:
The Concern has declined to
provide information on its Finances and also operational details.
In Sri Lanka, Private Limited
Liability/Proprietorship/Partnership Companies do not publish their Accounts
for Public use, other than the Shareholders
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 promoters 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 knowl
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.13 |
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|
1 |
Rs.73.36 |
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Euro |
1 |
Rs.60.06 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.