|
Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HI FASHION |
|
|
|
|
Registered Office : |
792/5, |
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|
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Country : |
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|
|
|
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Date of Incorporation : |
Not Available |
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|
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Com. Reg. No.: |
Not Available |
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|
|
Legal Form : |
Partnership Concern |
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Line of Business : |
Importing and Distributing of Textiles |
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No. of Employees : |
Not Available |
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 |
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|
|
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Name of Subject of Inquiry |
: |
HI FASHION |
|
Legal Form & Status |
: |
Partnership Concern (In Operation) |
|
Managing Partner |
: |
Sathish |
|
Primary Line of Business |
: |
Importing and
Distributing of Textiles |
|
Head Office & Place of
Business |
: |
#
176, 1/45, Keyzer Street, Attar
Mahal, Colombo
11. Tel.
No: (00 94 11) 247 3406 |
|
No. of Employees |
: |
Not
Disclosed |
|
Registration No |
: |
-Not Disclosed- |
||
|
Date of
Registration |
: |
-Not Disclosed- |
||
|
Registered
Office |
: |
792/5,
Aluthmawatha Road, Colombo 15, Sri Lanka. |
||
|
Partners |
: |
Sathish |
Managing Partner |
|
|
Siva |
Partner |
|||
Secretaries
|
:
|
-Not Disclosed- |
||
|
Auditors |
: |
-Not Disclosed- |
||
|
Bankers |
: |
Commercial Bank, Peoples Bank – Fort Branch |
||
·
History.
The Subject
Concern HI FASHION is a Partnership Concern .
The Proprietorship/Partnership companies
are being registered at the Provincial Registrar of
Companies and when the owner
refuses to provide details such as registration number, date
Of registration, auditors
etc., it is not possible to obtain such details from the registry
·
Location.
The Subject
Concern is located at # 176, 1/45, Keyzer Street, Attar Mahal,
Colombo 11.
When we visited the subject concern client given address 792/5, Aluthmawatha
Road, Colombo 15, it is subject concern
registered address and owner residential address. When we met the
subject concern owner and they were
refused to provide any details of the subject concern .
·
Operations
Details.
General
The subject
concern primary line of business is Importing and Distributing of Textiles
Products
Sarees, Shalwar,
Dress Materials
Import Country
India
Employees
Not Disclosed
·
Financial Data
The concern has declined to provide information on its
finances
Based on the corporate laws of Sri Lanka, business entities which are Private Company with
Limited Liability/ partnerships / proprietorships are not required to make public disclosure of
Their annual Financials. Therefore no financials are available for this entity
·
Trade references
The subject
concern did not provide any trade
reference referrals
·
Credit
Recommendations
Since no financial
information has been forthcoming from the concern , it is not possible to
comment on the merits or otherwise of the concern .
No computerised data bases exist to make
checks whether the partners or the concern
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.55.92 |
|
UK Pound |
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.