MIRA INFORM REPORT

 

 

Report Date :

18.02.2012

 

IDENTIFICATION DETAILS

 

Name :

EXPOLANKA (PRIVATE) LIMITED

 

 

Registered Office :

# 10, Milepost Avenue, Colombo-03

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

16.10.1978

 

 

Com. Reg. No.:

PVS 5305

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Exporters, Distributors of Perishables and Value added products.

 

 

No. of Employees :

Not Available

 

 

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 :

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 – September 30, 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

 

1) GENERAL 

- Basic information at a glance

     

 

Name of Subject of Inquiry

:

 

EXPOLANKA (PRIVATE) LIMITED

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

Sattar Kassim

Primary Line of Business

:

Exporters, Distributors of Perishables and Value added products.

Head office

&

Place of Business

 

:

 

 # 30/1C, New Hunupitiya Road ,

 Wattala,

 Sri Lanka.    

 

Tel. No: (00 94 11) 298 1616 / 298 1794

Fax No: (00 94 11) 298 1690

 

E-Mail: expoltd@expolanka.com

 

No. of Employees

:

Not Disclosed

 

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

PVS 5305

Date of Registration

:

16th October 1978

Re-registration No

 

PV 3322

Date of re-registration

 

16th May 2008

Registered Office

:

# 10, Milepost Avenue, Colombo-03

Board of Directors

As At

14th October 2010

:

 Saffar Kassim

Managing

Director

 Osman Kassim

Director

Shafik Kassim

Director

Hanif Yusoof

Director

Abdullah Osman Kassim

Director

Mohamed Fakurul Annam

Director

Issued Share Capital

:

Rs.          2,500,010.00               

Nominal Value of Share

:

Rs.                       10.00

 

Share Holders

As At

           14th October 2010

:

Share Holders

No. of

Shares

Expo Lanka Holdings Limited

 250,001

Auditors

:

BDO Burah Hathy

Company Secretaries

:

Consultants & Corporate Secretaries (Pvt) Limited

Bankers

:

Commercial Bank

 

 

FINANCIAL DETAILS

- Most recent available Financial Information

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES                                                                                           

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

The Subject Company EXPOLANKA (PRIVATE) LIMITED is a Private    Limited   liability Company incorporated on 16th October 1978 under registration number PVS 5305 and then the company was re-registered on 16th May 2008 under registration number PV 3322.

 

·         Location.

 

                  The subject company is located at the client given address # 30/1C, New Hunupitiya Road,

 Wattala.

 

·         Operational Details.

 

General

                  The subject company primary line of business is Exporters, Distributors of Perishables and Value added products. 

 

Products

Dried fruits, Fruit juices, Fruit chunks, Ethnic dry foods, Coconuts, Vegetables

 

 

Export Country

                   Europe, Middle East, Pakistan, India, Africa

 

 

No of Employees

                   Not Disclosed

 

 

·         Directors Details

 

             01)

Name

Osman Kassim

ID Number

531782259 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

26th June 1953

Age

57 Years

 

 

             02)

Name

Saffar Kassim

ID Number

563231289 X

Nationality

Sri Lankan

Gender

Male

Date Of Birth

18th November 1956

Age

54 Years

 

 

         03)

Name

Shafik Kassim

ID Number

611090340V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

18th April 1961

Age

50 Years

 

 

         04)

Name

Hanif Yusoof

ID Number

583200339 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

15th November 1958

Age

52 Years

 

 

         05)

Name

Abdullah Osman Kassim

ID Number

870032307 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

03rd January 1987

Age

24 Years

 

 

         06)

Name

Mohamed Fakurul Annam

ID Number

491132892 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

22nd April 1949

Age

62 Years

 

·         Financial Data

 

The company has declined to provide information on its finances

 

                  In Sri Lanka, Private Companies do not publish their Accounts for Public use  

                  Other than the Shareholders

               

 

·         Trade references

 

                  The subject company did not provide any trade references

 

 

·         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.49.21

UK Pound

1

Rs.77.75

Euro

1

Rs.64.58

 

 

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.