MIRA INFORM REPORT

 

 

Report Date :           

06.02.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

M A RAZAK & COMPANY LTD

 

 

Registered Office :

# 7, 9th Lane, Colombo -03

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

10.02.1953

 

 

Com. Reg. No.:

N(PVS) 1242                        

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Subject is engaged in Shipping and Logistic activities

 

 

No. of Employees :

45

 

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

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

:

 

M A RAZAK & COMPANY LTD

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

Hameed Hassan Ali Razak

Primary Line of Business

:

Shipping Agency

 

(Subject is engaged in Shipping and Logistic activities)

Head office

&

Place of Business

 

:

 

# 7, 9th Lane,

P.O. Box 989,

Colombo -03

Sri Lanka.

 

Tel. No: (00 94 11) 257 7075 / 257 5766 / 257 5651

Fax No: (00 94 11) 257 5405

 

Email: marazak@srilanka.net / tharik@marazak.net

Location : Owned

 

No. of Employees

:

45

 

           

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N(PVS) 1242                        

Date of Registration

 

10th February 1953

Registered Office

:

# 7, 9th Lane, Colombo -03

Board of Directors

As at

31st December 2009

:

Hameed Hassan Ali Razak

Managing Director

Hameed Thulba Razak

Director

M. Abdul Azeez Razak

Director

Hameed Tarique Thulba

Director

M. Muhiyaeen Ehab Razak

Director

Issued Share Capital

:

Rs.    420,000.00              

Nominal Value of Share

:

Rs.             10.00                    

 

Share Holders

As at

31st December 2009

:

Share Holders

No. of

Shares

Hameed Hassan Ali Razak

6,000

Hameed Thulba Razak

6,000

Hameed Moinudeen Yahiya

6,000

Estate of Late

6,000

Fathima Nawas

6,000

M. Abdul Azeez Razak

6,000

M. Iqval Razak

6,000

Auditors

:

O.T. David & Company

Company Secretaries

:

I M S Corporate Services (Pvt) Ltd

Bankers

:

HSBC, Seylan, Bank of Ceylon, Citi Bank

Trading Terms :

:

Purchasing Terms : L/C, Cash

Selling Terms: L/C, Cash

           


Information Parted By:

 

Name               : Mr. Abbeen

Designation     : Finance Manager

Mobile No.       : 0094777315720

Date                 : 03.02.2012

 

 

CURRENT INVESTIGATION                      

 

History

The Subject Company M.A RAZAK & COMPANY LTD is a Private    Limited   liability Company incorporated on 10th February 1953 under registration number N (PVS) 1242

 

The subject company client given name M S RAZAK & COMPANY LTD is in corrected  Subject Company should be a correct name is M.A RAZAK & COMPANY LTD

 

Location

The subject company is located at client given address # 7, 9th Lane, P.O. Box 989, Colombo -03

 

Operational Details.

 

General

The subject company primary line of business is Shipping Agency

 

Services

General Cargo, Petroleum Products, Break Bulk, Heavy Lifting, Containers

 

Country

Worldwide

 

Employees

45

 

Directors Details

 

         01)

Name

Hameed Hassan Ali Razak

ID Number

442770018 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

03rd October 1944

Age

67 Years

 

 

         02)

Name

Hameed Thulba Razak

ID Number

371411950 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

20th May 1937

Age

74 Years

 

 

         03)

Name

M. Muhiyaeen Ehab Razak

ID Number

721393992 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

18th May 1972

Age

39 Years

 

 

         04)

Name

Hameed Tarique Thulba

ID Number

640580124 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

27th February 1964

Age

47 Years

 

 

Financial Data

The company has declined to provide information on its finances

 

General Comments

When we contacted the subject company and they were refused and didn’t provide any details to prepare 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.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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.