MIRA INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SHARON EENTERPRISES |
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Registered Office : |
# 17, China Lane, Colombo- 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Proprietorship
Concern |
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Line of Business : |
Importers & Distributors of Dry Fish, Canned Fish |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 Lanka |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
GENERAL- Basic information at a
glance
|
Name of Subject of
Inquiry |
: |
SHARON
EENTERPRISES |
|
Legal Form
& Status |
: |
Proprietorship
Concern (In Operation) |
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Managing Partner |
: |
Arul
Das |
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Primary Line of
Business |
: |
Importers &
Distributors of Dry Fish, Canned Fish |
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Office & Place of Business |
: |
# 17, China Lane, Colombo- 11 Sri Lanka. Tel./Fax No: (00 94 11) 233
0992, 436 7083, 313 7742 Fax No: (00 94 11) 233 0992 Email: aruldas_8@yahoo.com |
|
No. of Employees |
: |
Approximately 10 |
CONCERN DETAILS- Registration and Shareholder Details
|
Registration No |
: |
Not Disclosed |
|
|
Year of
Registration |
: |
Not Disclosed |
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Registered Office |
: |
# 17, China Lane, Colombo- 11. Sri Lanka. |
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Proprietor |
: |
Arul Das |
Managing Proprietor |
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Auditors |
: |
Not Disclosed |
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Bankers |
: |
Not Disclosed |
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CURRENT INVESTIGATION
·
History:
The subject concern , SHARON ENTERPRISES is a Proprietorship Concern in operation.
When contacted the Accountant, Mr. Gregory of
the subject concern informed us that the
Proprietor, Mr. Arul Das is on a business tour to India and operational details
of the concern could not be provided.
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 the client given address #
17, China Lane,
Colombo-11,
Sri Lanka, which is a highly commercial area where wholesale/retail
Merchants are operating.
We were told that the
concern is having two other associate
companies namely:
(a)
Arul Dry
Fish Stores (operating at the same premises)
and
(b)
Devian
Enterprises , at 222, Wolfendhal Street, Colombo 11( in close proximity to
subject concern )
·
Operational Details.
General
The subject concern primary
line of business is Import & distribution of all kinds of Dry Fish,
Canned fish etc.
Products
Dry Fish, Canned Fish
·
Import
& Countries
India, Taiwan
No
of Employees
Approximately 10
·
Financial Data
The concern
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 concern declined to provide any trade references
·
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.49.62 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.66.47 |
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 |
|
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NB |
New Business |
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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.