MIRA INFORM REPORT

 

 

Report Date :           

20.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

FARKEM (PVT) LTD

 

 

Registered Office :

#.69, Attidiya Road, Ratmalana

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

12.05.2005

 

 

Com. Reg. No.:

PV 21615

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importer Exporters & Supplier of Chemicals

 

 

No. of Employees :

10

 

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 – 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

:

 

FARKEM (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

K.L. Ruwan

Primary Line of Business

:

Importer Exporters & Supplier of Chemicals

Head office

&

Place of Business

 

:

 

#.69, Attidiya Road,

Ratmalana

Sri Lanka.

 

Tel. No: (00 94 11) 555 0986 /  262 3406

Fax No: (00 94 11) 263 7002

 

Email: chemet@sltnet.lk

 

Location : Owned

The Client given – (00 94 11) 273 1439 number is not in use

 

No. of Employees

:

10

 

           

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N(PVS) 41618                              

Date of Registration

 

12th May  2005

Re-registration No

:

 PV 21615

Date of Re-registration

 

08th June 2011

Registered Office

:

#.69, Attidiya Road, Ratmalana

Board of Directors

As at

25th April 2008

:

K.L. Ruwan

Managing Director

H.R.L. Rathnakumara De Silva

 

Director

S.C.G. Guruge

Director

Issued Share Capital

:

Rs.    30.00              

Nominal Value of Share

:

Rs.    10.00                    

 

Share Holders

As at

25th April 2008

:

Share Holders

No. of

Shares

K.L. Ruwan

01

H.R.L. Rathnakumara De Silva

01

S.C.G. Guruge

01

Auditors

:

Not Available

Company Secretaries

:

Nihal Hettiarachchi & Company

Bankers

:

Ceylon Bank Limited, Mount Lavinia Branch

 

 

Information Parted By:

 

Name               : Mr. H.R.L. Rathnakumara De Silva

Designation     : director

Mobile No.       : (00 94) 777781714

Date                 : 19.01.2012

 

 

CURRENT INVESTIGATION                      

 

·         History

 

                  The Subject Company FARKEM (PVT) LTD is a Private    Limited   liability Company incorporated on 12th May 2005 under registration number N (PVS) 41618 and then the company was re-registered on 08th June 2011 under registration number PV 21615.

 

·         Location.

The subject company is located at client given address #.69, Attidiya Road, Ratmalana

 

·         Operational Details.

General

            The subject company primary line of business is Importer Exporters & Supplier of Chemicals.

 

            Products

                   Chemicals, Fertilizers

 

Country

China, India

 

                Import Country

     China, India

 

Employees

                   10

 

·         Directors Details

 

         01)

Name

K.L. Ruwan

ID Number

572012751 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

19th July 1957

Age

54 Years

 

 

         02)

Name

H.R.L. Rathnakumara De Silva

ID Number

582372446  V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

24th August 1958

Age

53 Years

Mobile No.:

(00 94) 777781714

 

 

         03)

Name

S.C.G. Guruge

ID Number

571950650 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

13th July 1957

Age

54 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 prepared 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.50.29

UK Pound

1

Rs.77.60

Euro

1

Rs.64.67

 

 

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.