MIRA INFORM REPORT

 

 

Report Date :

26.09.2011

 

IDENTIFICATION DETAILS

 

Name :

ANESTA TRADERS

 

 

Registered Office :

# 270/6, 4th Cross Street, Colombo- 11

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

2008

 

 

Legal Form :

Proprietorship Company (In Operation)

 

 

Line of Business :

Importer of Dry Fish

 

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 :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

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

 

GENERAL

- Basic information at a glance

      

Name of Subject of Inquiry

:

ANESTA TRADERS

Legal Form  & Status

 

:

 

Proprietorship Company (In Operation)

 Managing Partner

 :

Johnson Fernando

Primary Line of Business

:

 

Importer of Dry Fish

 

Office & Place of Business

:

 

# 270/6, 4th Cross Street,

Colombo- 11

Sri Lanka.

 

Tel./Fax No: (00 94 11) 573 8311

Mobile No.: 00 94 773983546

Email: anestatrader@yahoo.com

Area: 3000 sq.ft

Location: Owned

 

 

No. of  Employees

:

Approximately 10

           

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

 

Registration No

:

Not Disclosed

Year of Registration

:

2008

Registered Office

:

 

#270/6, 4th Cross Street,  Colombo- 11. Sri Lanka.

 

Proprietor

:

Johnson Fernando

Managing Proprietor

Auditors

:

Sharma and Company

Bankers

:

·         Commercial Bank, Main Branch, Colombo

·         Bank of Ceylon, Pettah Branch, Colombo

·         Pan Asia Bank, Pettah Branch, Colombo

Customers

:

·         Wholesaler

 

 

 FINANCIAL DETAILS

- Most recent available Financial Information

 

THE COMPANY HAS TO PROVIDE INFORMATION ON ITS FINANCES

 

 

 

31.03.2011

 

31.03.2010

 

Sales  Turnover (Approximately)

:

LKR 200 millions

LKR 200 millions

 

 

Information parted by

 

Name                           : Mr. Johnson Fernando

Designation                 : Proprietor

Contact No.                  : 00 94 7739 83546

Date                             : 24.09.2011

 

 

CURRENT INVESTIGATION

 

·         History:

 

The subject company, ANESTA TRADERS is a Proprietorship Company in operation.

 

When contacted the Proprietor, Mr. Johnson Fernando of the subject company, he informed us that they only buy and distribute dry fish made locally and imported from India. He declined to provide details of operational and finance without knowing the end user of this report.

                          

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 # 270/6, 4th Cross Street,

     Colombo-11, Sri Lanka, which is a highly commercial area where wholesale/retail 

     Merchants are operating. The business place is surrounded by shops on either side of

     the street and crowded. The size of the shop is approx. 15’ x 15’ with a name board fixed

     on top of the shop.

 

   

·         Operational Details.

 

General

                  The subject company primary line of business is Trader of all kinds of Dry Fish, Canned fish etc.

 

Products

 Dry Fish

                       

·         Import & Countries

India, Thailand, Maldives

The company is also  buying dry fish made in Sri Lanka.

 

·         Trading Terms

Purchases: DP, DA

Selling: Cash, Credit

 

No of Employees

                  Approximately 10

 

 

·         Financial Data

 

The company has 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

 

Jonison Private Limited, Colombo (Customer)

 

 

·         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.

 

ANALYSIS & RATING

- Appraisal and Rating of Subject Company

 

 

Rating:

Business Scale

Small

Management Capability

Average

Commercial Morality

Average

Reputation

Average

Market Situation

Competitive

                                   

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.67

UK Pound

1

Rs.76.50

Euro

1

Rs.66.98

 

 

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.