MIRA INFORM REPORT

 

 

Report Date :           

09.01.2012

 

IDENTIFICATION DETAILS

 

Name :

ASHOK GARMENTS (PVT) LTD 

 

 

Registered Office :

# 31/3 Dutugemunu Mawatha, Galawilawatta,Homagama,

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

17.01.2004

 

 

Com. Reg. No.:

PV  4618

 

 

Legal Form :

Private Limited Liability Company   

 

 

Line of Business :

Manufacturers, distributors, exporters of  all kinds of garments

 

 

No. of Employees :

300

 

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 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

:

ASHOK GARMENTS (PVT) LTD

Legal Form  & Stat us

:

Private Limited Liability Company    (In operation)

Managing Director

:

 W. Ashoka Abeygunawardena

Primary Line of Business

:

Manufacturers, distributors, exporters of  all kinds of garments

Head Office

&

Place of Business

 

:

 

# 31/3 Dutugemunu Mawatha,

Galawilawatta,

Homagama,

Sri Lanka.

 

Tel. No: (00 94 11) 285 5040 / 289 5398 / 573 7166 / 573 7165

Fax No: (00 94 11)  285 5986

 

E-mail:  info@ahokgarments.com

 

 

No. of Employees

:

Approx.  300

 

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N (PVS)  12309

Date of Registration

 

17th January 2004

Re-Registration No

 

PV  4618

Date of Re-Registration

 

 23rd June 2008

Registered Office

 

# 31/ 3 , Dutugemunu Mawatha, Galawilawatta, Homagama

Board Of Directors

As At

30th  September 2011

:

 W. Ashoka Abeygunawardena  

Managing Director

 M.A. Sunil Gunawardana

Director

 M.A. Menuka Dilshan Gunawardana

Director

Issued Share Capital

:

Rs.      200,000

Nominal Value of Share

:

Rs.          10.00

Share Holders

As At

30th  September 2011

:

 Share Holders

No of Shears

W. Ashoka Abeygunawardena  

  19,999

M.A. Sunil Gunawardana

         01

Secretaries

:

Magni Consultonts (Pvt) Ltd

Auditors

:

H.M. Karunarathna

Bankers

:

Peoples Bank

Exporters

:

Product : Finished Goods

Country : USA, Canada

Importers

:

Product : Raw Material

Country: Pakistan

Trading Terms:

:

Purchasing Terms: Cash, Credit

Selling Terms: Cash, Credit

Types of Customers

:

Retailers

Wholesalers

 

 

Information Parted By:

 

Name               : Mr. M.A. Menuka Dilshan Gunawardana

Designation     : Director

Mobile No.       : (00 94 11) 2855040

Date                 : 07.01.2012

 

 

CURRENT INVESTIGATION

                                               

·         History.

 

                 The subject company, ASHOK GARMENTS (PVT) LTD is a Private Limited   liability    

                 Company incorporated on 17th January 2004 under registration number N (PVS) 12309 and then              

                 The Company was re-registered on 23rd June 2008 under registration number PV 4618.

 

·         Location.

The Subject Company is located at the client given address # 31/ 3, Dutugemunu Mawatha, Galawilawatta, Homagama

 

·         Operational Details

 

       General

 

The subject company primary line of business is Manufacturers, distributors, exporters of all kinds of garments.

 

The subject company has earned ISO 9001: 2000, ISO 9001:2008

 

Products

                    Uniforms, Coveralls, Labcaats, Chefcoats, Scrubs, Hospital wear, Aprons.

 

Country

                   Canada, USA, MiddleEast, UK, Saudi

 

No of Employees:

                    Approx. 300

 

 

Director Details

 

              01)

Name

W. Ashoka Abeygunawardena  

ID Number

537792051 V

Nationality

Sri Lankan

Gender

Female

Date Of Birth

05th October 1953

Age

59 Years

 

               02)

Name

M.A. Sunil Gunawardana

ID Number

503182203 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

13th November 1950

Age

62 Years

 

               03)

Name

M.A. Menuka Dilshan Gunawardana

ID Number

882800423 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

06th October 1988

Age

24  Years

 

 

·         Financial Data

The company has declined to provide information on its finances.

                

                   In Sri Lanka, Private Limited Liability Companies do not publish their Accounts for 

                   Public use, other than the shareholders.

 

·         General Comments

When we contacted the subject company and they were refused and provide some basic details.

 

·         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.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.