MIRA INFORM REPORT

 

 

Report Date :           

02.02.2012

 

IDENTIFICATION DETAILS

 

Name :

GOLDEN LANKA IMPORTS (PVT) LTD

 

 

Registered Office :

Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

2009

 

 

Com. Reg. No.:

PV 72223                             

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and Distribution of all kind of Foodstuff

 

 

No. of Employees :

5 Persons

 

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 :

Moderate

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Sri Lanka

b1

b1

 

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

:

GOLDEN LANKA IMPORTS (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

Murugesu Vijayakanth

Primary Line of Business

:

Import and Distribution of all kind of Foodstuff

Head office

&

Place of Business

 

:

 

Golden Plaza,

#.130,2/8, 2nd Floor

Main Street,

Colombo-11,

Sri Lanka.

 

Tel. / Fax. No: (00 94 11) 232 1786

 

E-Mail : infomk@sltnet.lk

Locaruion : Owned

 

Warehouse

:

143, Maliban Street, Colombo

No. of Employees

:

5 Persons

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

PV 72223                             

Year of Establishment :

:

2009

Date of Registration

 

07th May 2010

Registered Office

:

Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11

Warehouse

:

143, Maliban Street, Colombo

Board of Directors

As at

02nd June 2010

:

Murugesu Vijayakanth

Managing Director

Marimuttu Murugesu

Director

Manokanth Murugesu

Director

R.A.M. Riaz Shahid

Director

M.I.R. Muhammed Riaz Shahid

Director

Issued Share Capital

:

Rs.    60.00              

Nominal Value of Share

:

Rs.    10.00                    

 

Share Holders

As at

02nd June 2010

:

Share Holders

No. of

Shares

Murugesu Vijayakanth

02

Marimuttu Murugesu

02

Manokanth Murugesu

02

Auditors

:

Mr. Velu

Chartered Accountants

Company Secretaries

:

Marimuttu Murugesu

Bankers

:

Bank of Ceylon, Colombo Branch

Trading Terms :

:

Purchasing Terms: L/C, Cash, Credit (30 Days)

Selling Terms : Cash, Credit (30 Days)

Types of Customers

:

·         End Users

·         Retailers

·         Wholesaler

 

Information Parted By:

 

Name               : Mr. Murugesu Vijayakanth

Designation     : Managing Director

Mobile No.       : (00 94) 773411471

Date                 : 01.12.2011

 

 

CURRENT INVESTIGATION                      

 

·         History

 

                  The Subject Company GOLDEN LANKA IMPORTS (PVT) LTD is a Private   Limited   liability Company incorporated on 07th may 2010 under registration number PV 72223.

 

·         Location.

 

The subject company is located at client given address Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11.

 

·         Operational Details.

 

General

            The subject company primary line of business is Import and Distribution of Foodstuff.

 

            Products

                  Tea, Rubber, Coconut, Coir products, Spices, Milk foods...etc

 

Country

India, China

 

Importers of

Products:                                                    Foodstuff

Country:                                                      Malaysia, Singapore, India, Pakistan

 

Employees

                    5 Persons

·         Directors Details

 

         01)

Name

Murugesu Vijayakanth

ID Number

813641542 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

29th December 1981

Age

29 Years

Mobile No.:

(00 94) 773411471

 

         02)

Name

Marimuttu Murugesu

ID Number

472542958 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

10th September 1947

Age

64 Years

 

         03)

Name

Manokanth Murugesu

ID Number

900712731 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

11th March 1990

Age

21 Years

 

         04)

Name

R.A.M. Riaz Shahid

PP Number

TM 1155951

Nationality

Pakistan

 

         05)

Name

R.A.M. Riaz Shahid

PP Number

AS 9913531

Nationality

Pakistan

 

Financial Data

                                                                                                                                    (Amt. In LKR Millions)

Particulars

 

31.03.2011

31.03.2010

Sales Turnover

80.000

80.000

                                                                                           

 

·         General Comments

When the Subject Company was contacted they were polite in providing the basic information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

 

·         Trade references

                    The subject company did not provide any trade reference referrals

 

·         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.49.53

UK Pound

1

Rs.77.95

Euro

1

Rs. 64.66

 

 

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.