MIRA INFORM REPORT

 

 

Report Date :           

23.11.2011

 

IDENTIFICATION DETAILS

 

Name :

M S MOTOR TRADERS

 

 

Registered Office :

# 2234A, Sri Sangaraja Mawatha, Colombo 10

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

Not Available

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Proprietorship Concern 

 

 

Line of Business :

Importers & Dealers of Motor Spare Parts

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

----

 

 

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

:

 M S MOTOR TRADERS

Legal Form  & Status

:

Proprietorship Concern  (in operation)

Proprietor

 :

Not disclosed

Primary Line of Business

:

 Importers & Dealers of Motor Spare Parts

Head Office

&

Place of Business

:

 

# 2234A, Sri Sangaraja Mawatha,

Colombo 10.

Sri Lanka.

 

Tel. No/ Fax No: (00 94 11) 245 9053

             

 

No. of  Employees

:

Not Disclosed

           

 

CONCERN DETAILS- Registration and Shareholder Details

 

Registration No

:

Not Disclosed

Date of Registration

:

Not Disclosed

Registered Office

:

# 234A, Sri Sangaraja Mawatha, Colombo 10.

 

Proprietor

:

 Not disclosed

Proprietor

Auditors

:

Not Disclosed

 

Concern  Secretaries

:

Not Applicable

 

Bankers

:

Not Disclosed

 

 

 

CURRENT INVESTIGATION

                                               

·         History.

                  The Subject Concern, M S MOTOR TRADERS is Proprietorship 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, # 234A, Sri Sangaraja Mawatha, Colombo 10, an area where motor spare parts merchants are operating.

 

·         Operations Details.

 

General

The subject concern ’s primary line of business is Import & distribution of Motors Spare Parts for all brands of motor cars & cycles.

                 

Products

                    Motor vehicles Spare parts & accessories.

 

Import Country

China, India

 

Employees

                  Not Disclosed

 

·         Financial Data

 

                  When contacted the Proprietor of the concern , he declined to provide financial information.

 

                  Further, In Sri Lanka, Private limited liability/partnership/proprietorship Companies do

                  Not publish their Accounts for Public use other than the Shareholders

 

·         General Comments

 

When the Subject Concern  was contacted the manager declined to provide information as the proprietor has gone abroad for business purpose.

 

·         Trade references

                  The subject concern  declined to provide any trade reference referrals and said that they are

                  Importing spare parts from India and China.

 

·         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.52.70

UK Pound

1

Rs.82.44

Euro

1

Rs.71.08

 

 

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.