MIRA
INFORM REPORT
|
Report Date : |
23.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAUSHIKA TRADERS |
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Registered Office : |
# 31, I.X. Pereira Mawatha, Colombo- 11 |
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Country : |
Sri Lanka |
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Year of Establishment : |
2008 |
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Legal Form : |
Proprietorship Company |
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Line of Business : |
Trader of Dry Fish |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Sri Lank |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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
|
Name of Subject of Inquiry |
: |
KAUSHIKA
TRADERS
|
|
Legal Form & Status |
: |
Proprietorship Company (In Operation) |
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Managing Partner |
: |
J.T.C. Fernando |
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Primary Line of Business |
: |
Trader of Dry Fish |
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Office & Place of Business |
: |
# 31, I.X. Pereira Mawatha , Colombo-
11 Sri
Lanka. Tel./Fax
No: (00 94 11) 232 8998 Contact
Person : Mr. Sunil (Manager) |
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No. of
Employees |
: |
Approximately
02 |
COMPANY DETAILS
-
Registration and Shareholder Details
|
Registration No |
: |
Not Disclosed |
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Year of Registration |
: |
2008 |
|
|
Registered Office |
: |
# 31, I. X. Pereira Mawatha, Colombo- 11. Sri Lanka. |
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Proprietor |
: |
J.C.T. Fernando |
Managing
Proprietor |
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Auditors |
: |
Not Disclosed |
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Bankers |
: |
Not Disclosed |
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Customers |
: |
End Users |
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FINANCIAL DETAILS
- Most
recent available Financial Information
THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON
ITS FINANCES
Information parted by (General Details)
Name : Stanley Sunil
Designation : Manager
Date : 23.09.2011
CURRENT INVESTIGATION
·
History:
The subject
company, KAUSHIKA TRADERS is a Proprietorship
Company in operation.
When contacted the
Proprietor, Mr. J.C.T. Fernando of the subject company, he informed us that
they only buy and Trade dry fish made locally and no intension to import.
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 company
details at the Registrar’s office.
·
Location.
The Subject Company is located at the client given address # 31, I.X.
Pereira Mawatha,
Colombo-11, Sri Lanka, which is a highly commercial
area where wholesale/retail
Merchants are operating.
·
Operational
Details.
General
The subject company primary
line of business is Selling & distribution of all kinds of Dry Fish,
Canned fish etc.
Products
Dry Fish
·
Import & Countries
No imports.
The company is
buying dry fish made in Sri Lanka.
No of Employees
Approximately 02
Trading terms
Purchase: Cash
Selling : Cash
·
Financial Data
The company has
declined to provide information on its finances.
In Sri Lanka,
financial information of Limited Liability/Proprietorship/Partnership Companies
is not available for public use.
·
Trade references
The subject
company declined to provide any trade references
·
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.48.82 |
|
|
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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.