MIRA INFORM REPORT

 

 

Report Date :           

23.09.2011

 

IDENTIFICATION DETAILS

 

Name :

ABC IMPORTS & EXPORTS 

 

 

Registered Office :

# 562/16C, Lower Bagathale Road, Colombo- 03

 

 

Country :

Sri Lanka

 

 

Year of Establishment :

2009

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Proprietorship Concern 

 

 

Line of Business :

Importers & Traders of Food Commodities like Onion, Potatoes, Ground nut, Corainder Seeds, Pulses.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct 

 

 

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

 

Information parted by:

 

Name               : Mr. Ibrahim Anis

Designation     : Proprietor

Mobile No.       : 0094773205404

 

 Bottom of Form

 

GENERAL- Basic information at a glance

      

Name of Subject of Inquiry

:

ABC IMPORTS & EXPORTS

Legal Form  & Status

 

:

 

Proprietorship Concern  (In Operation)

 PROPRIETOR

 :

Ibrahim Anis

Primary Line of Business

:

Importers & Traders of Food Commodities like Onion, Potatoes, Ground nut, Corainder Seeds, Pulses.  

Operating Office

:

 

# 201, 4th Cross Street ,

Colombo- 11

Sri Lanka.

 

Tel. No: (00 94 11) 232 7302

Fax No: (00 94 11) 243 5205

Email:  Ibrahim.anis@yahoo.com

 

Area: 3000 Sq.fts

Location : Owned

 

No. of  Employees

:

15

           

 

CONCERN  DETAILS - Registration and Shareholder Details

 

Registration No

:

Not Disclosed

Year of Registration

:

Not Disclosed

Registered Office

/ Corporate Office

:

 

# 562/16C, Lower Bagathale Road, Colombo- 03. Sri Lanka.

E-Mail Id: Ibrahim.anis@yahoo.com

Location: Owned

Area : 7000 Sq.fts

 

Operating Office

:

 

Proprietor

:

Ibrahim Anis

Age                : 46 Years

Qualification : Graduate

Designation

Managing Proprietor

Auditors

:

Not Disclosed

Bankers

:

·         Bank of Ceylon, Pettah Branch

 

·         Habib Bank, Pettah Branch

(Facility : Overdraft : LKR 1.000 millions)

 

Sister Concerns

:

Meezan Trading Company

Address: # 562/16C, Lower Bagathale Road, Colombo- 03. Sri Lanka.

Activity : real Estate

 

 

CURRENT INVESTIGATION

 

·         History:

 

The subject concern , ABC IMPORTS & EXPORTS is a Proprietorship Concern  in operation.

 

When contacted the Proprietor, Mr. Ibrahim Anis of the subject concern , he informed us that they import food items for local distribution and declined to provide OPERATIONAL AND FINANCIAL details of the concern  without knowing the details of the end user of this report.

 

There is an associate concern  of the subject concern  operating at the same premises, namely “Meezan Trading Concern ”. 

                          

The Proprietorship/Partnership Companies are registered at the Provincial Registrar of Companies and as the management declined to provide registration details it is not possible to trace concern  details at the Registrar’s office.                         

                                                      

·         Location.

 

     The Subject Concern  is located at # 201, 4th Cross Street, Colombo 11, which is a highly  

     commercial area where wholesale/retail Merchants are operating.

 

     The client given address #562/16C, Lower Bagathale Road, Colombo 03 is the Registered    

     address of the Subject Concern .

    

·         Operational Details.

 

General

                   The subject concern  primary line of business is Import & distribution of all kinds of  Food items.

 

Products

Coriander, Red/Small onions, Ground nuts, Yeasts, Potatoes, Dates, Garlic, Chillies etc.

 

Exporter

Products: Betelnuts

Country: India

 

·      Import

Products: Food Commodities

     Country:  India, Middle East, China, Pakistan, Turkey, Australia, Canada

 

No of Employees

Approximately 15

 

Trading Terms

Purchasing Terms                                                  : DA

Selling Terms                                                        : Cash, Credit, CAD

 

Types of Customers:                                              Wholesalers

 

 

·         Financial Data

                                                                                                         (Amount in LKr Millions)           

       Particulars

 

 

31.03.2010

31.03.2009

Sales Turnover

 

650.000

700 .000

 

 

In Sri Lanka, financial information of Limited Liability/Proprietorship/Partnership Companies is not available for public use.

 

·         Trade references

·         Pak Ihracat A S Istanbul (Supplier)

·         K G Overseas, Mumbai (Customers)

 

·         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.48.82

UK Pound

1

Rs.75.48

Euro

1

Rs.66.10

 

 

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.