MIRA INFORM REPORT

 

 

Report Date :           

10.11.2011

 

IDENTIFICATION DETAILS

 

Name :

PEO CHEM INTERNATIONAL

 

 

Registered Office :

# 537, Galle Road, Mount Lavinia

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

July 2010

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Partnership Concern 

 

 

Line of Business :

Importers & Distributors of Chemicals and Air conditioning Equipment

 

 

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 :

New Business

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

----

 

 

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

:

PEO CHEM INTERNATIONAL

Legal Form  & Status

:

Partnership Concern  (in operation)

Managing partner

 :

Priyan Dias

Primary Line of Business

:

Importers & Distributors of Chemicals and Air conditioning Equipment

Head Office

&

Place of Business

:

 

# 537, Galle Road,

Mount Lavinia,

Sri Lanka.

 

Tel. / Fax. No: (00 94 11) 271 2479

Mobil. No: (00 94 11) 774 8416 (Priyan Dias)

 

E-Mail: priyandias1968@gmail.com

 

Location : Owned

No. of  Employees

:

 

17 Person

           

 

CONCERN DETAILS- Registration and Shareholder Details

 

Registration No

:

Not Disclosed

Date of Registration

:

Not Disclosed

Registered Office

:

# 537, Galle Road, Mount Lavinia

Partners

:

Priyan Dias (Age: 43 years)

Managing partner

Dencil De Silva (Age : 49 Years)

Partner

Auditors

:

Mr. Sarathi

Chartered Accountant

 

Concern  Secretaries

:

Not Applicable

 

Bankers

:

People’s Bank, Sri Lanka

 

 

 

Information parted by

Name               : Ms. Priyan Dias

Designation     : Partner

Date                 : 08.11.2011

 

 

CURRENT INVESTIGATION

 

·         History.

                  The Subject Concern, PEO CHEM INTERNATIONAL is a Partnership Concern.

 

                    The Proprietorship/Partnership companies are being registered at the Provincial Registrar of Companies and when the owner refuses to provide details such as registration number, date of registration, auditors etc., it is not possible to obtain such details from the registry.

 

·         Location.

The Subject Concern is located at the client given address, # 537, Galle Road, Mount Lavinia.

 

The subject concern was situated first floor of the two store building. Ground floor situated subject concern associated concern it’s called New Mount Ref Engineers. When we contacted the managing partner of the Subject Concern  they refused to provide any information of the Subject Concern  without knowing the details of the end user of this report.

 

·         Operations Details.

 

General

The subject concern ’s primary line of business is Importers & Distributors of Chemicals and Air conditioning Equipment.

 

Trading Terms:

Purchasing Terms                                      : L/C, Cash, Credit (30 Days)

Sales Terms                                               : Cash, Credit (30 Days)

 

Products

                    Air conditioning Equipments, Chemicals

 

Import

Product      : Chemicals and Air conditioning Equipment.

Country      : India, China, Pakistan, Taiwan, India, Malaysia

 

Employees

17 Person

 

Types of customers:

Trader & Paint Company

 

·         Financial Data

 

                                                                                                                                          (Amt. In LKR Millions)

Particulars

 

 

31.03.2011

Sales Turnover

 

16.000

                                                                                           

 

Further, In Sri Lanka, Private limited liability/partnership/proprietorship Companies do not publish their Accounts for Public use other than the Shareholders

 

·         Trade references

Central Chemicals Suppliers                     

 

·         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.49.78

UK Pound

1

Rs.80.11

Euro

1

Rs.68.82

 

 

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.