|
Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ASHOK STEEL INDUSTIES (PVT) LTD |
|
|
|
|
Registered Office : |
8th Floor,IBM Building, # 48, Nawam
Mawatha,Colombo 02, |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
25.06.2001 |
|
|
|
|
Com. Reg. No.: |
PV 19282 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
(In Operation) |
|
|
|
|
Line of Business : |
Importers & Dealers of Hardware Items |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Sri Lanka - ECONOMIC OVERVIEW
Sri Lanka continues to experience strong economic growth, driven by large-scale
reconstruction and development projects following the end of the 26-year
conflict with the LTTE. Sri Lanka is pursuing a combination of government
directed policies, private investment, both foreign and domestic, to spur
growth in disadvantaged areas, develop small and medium enterprises, and
increase agricultural productivity. The government struggles with high debt
interest payments, a bloated civil service, and historically high budget
deficits. However recent reforms to the tax code have resulted in higher
revenue and lower budget deficits in recent years. The 2008-09 global financial
crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly
caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic
activity rebounded strongly with the end of the war and an IMF agreement,
resulting in two straight years of high growth in 2010 and 2011. Per capita
income of $5,600 on a purchasing power parity basis is among the highest in the
region.
|
Source : CIA |
|
Name of Subject
of Inquiry |
: |
ASHOK STEEL INDUSTIES (PVT) LTD |
|
Legal Form
& Status |
: |
Private Limited
Liability Company (In Operation) |
|
Managing Director |
: |
Ashok Agarwal |
|
Primary Line of
Business |
: |
Importers & Dealers of Hardware Items |
|
Head office & Place of Business |
: |
8th Floor,IBM Building, # 48, Nawam Mawatha, Colombo 02, Sri Lanka. Tel. No: (00 94 11)
555 3215 / 555 3218 Fax No: (00 94 11) 245 4470 / 231 4970 Email: indcopp@lankabellnet.com |
|
No.
of Employees |
: |
Not Disclosed |
|
Registration No |
: |
N(PVS)
28684 |
||
|
Date of
Registration |
|
25th
June 2001 |
||
|
Re-registration
No |
: |
PV 19282 |
||
|
Date of
Re-registration |
|
02nd
September 2010 |
||
|
Registered
Office |
: |
8th Floor,IBM Building, # 48, Nawam Mawatha,Colombo 02,
Sri Lanka. |
||
|
Board of
Directors As at 31st August 2011 |
: |
Ashok Agarwal |
Managing
Director |
|
|
Anita Agarwal |
Director |
|||
|
Mutchel Sai
Anantha Rama Krishna |
Director |
|||
|
Issued Share
Capital |
: |
Rs. 52,501,000.00 |
||
|
Nominal Value of
Share |
: |
Rs. 100.00 |
||
|
Share Holders As at 31st August 2011 |
: |
Share Holders |
No. of Shares |
|
|
A M L Steel Ltd |
5,250,000 |
|||
|
Ashok Agarwal |
100 |
|||
|
Auditors |
: |
Shaffy M Jiffry & Company |
||
|
Company
Secretaries |
: |
Integrated
Management Systems (Pvt) Ltd |
||
|
Bankers |
: |
Not Disclosed |
||
THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
Based on the corporate laws of Sri Lanka, legal entities
which are Private Company with Limited
Liability is not required to make public disclosure of their annual financials.
Therefore no financials are available for this entity
·
History
The Subject Company ASHOK STEEL INDUSTIES (PVT) LTD is a
Private Limited liability Company incorporated on 25th June 2001 under
registration number N(PVS) 28684 and
then the company was re-registered on 02nd
September 2010 under registration number PV 19282.
·
Location.
The Subject Company is
located at 8th Floor, IBM Building, # 48, Nawam Mawatha,
Colombo 02.
·
Operational
Details.
General
The subject company primary line of
business is Importers & Dealers of
Hardware Items.
Products
Ribbed Steel, MS Rod, Flat bar
Country
China, India
Employees
Not Disclosed
01)
|
Name |
Ashok Agarwal |
|
PP Number |
E 8564771 |
|
Nationality |
Indian |
02)
|
Name |
Anita Agarwal |
|
PP Number |
A 8165760 |
|
Nationality |
Indian |
03)
|
Name |
Mutchel Sai
Anantha Rama Krishna |
|
PP Number |
B 5661745 |
|
Nationality |
Indian |
The company has
declined to provide information on its finances
Based on the corporate laws of Sri Lanka, legal entities
which are Private Company with
Limited Liability is not
required to make public disclosure of their annual financials.
Therefore no financials are
available for this entity
The subject company
did not provide any trade reference referrals
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.31 |
|
UK Pound |
1 |
Rs.87.36 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.