MIRA INFORM REPORT

 

 

Report Date :

04.06.2012

 

IDENTIFICATION DETAILS

 

Name :

S A TRADERS

 

 

Registered Office :

# 151/1, 1st Floor, Chandra Super Market, Keyzer Street, Colombo 11

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

Not Available

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Partnership Concern 

 

 

Line of Business :

Import & Distribution of Textiles/Fabrics

 

 

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

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

:

S A TRADERS

Legal Form  & Status

 

:

 

Partnership Concern  (In operation)

 Managing Proprietor/Partners

 :

Not Disclosed

Primary Line of Business

:

Import & Distribution of Textiles/Fabrics

Office & Place of Business

:

 

# 151/1, 1st Floor, Chandra Super Market,

Keyzer Street,

Colombo 11.

Sri Lanka

 

Tel./Fax No: (00 94 11) 244 7795

Tel. No:         (00 94 11) 232 5131

 

Contact Person: Mr. Hanif, Manager

 

No. of  Employees

:

Not Disclosed

           

 

 

 

 

 

COMPANY DETAILS-Registration and Shareholder Details

 

Registration No

:

Not Disclosed

Year of Registration

:

Not Disclosed

Registered Address

:

 

# 151/1, 1st Floor, Chandra Super Market, Keyzer Street,

Colombo 11.  Sri Lanka.

 

Partners

:

When our investigator visited the client given address, the Manager Mr. Hanif  refused to disclose details

Managing Partner

Auditors

:

Not Disclosed

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

THE CONCERN  HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES.

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

CURRENT INVESTIGATION 

 

·         History:

 

The subject concern , S A TRADERS is not registered with Registrar of Companies (ROC) and therefore it could be either a Proprietorship or Partnership Concern .

              

                 Our investigator visited the client given address, the Manager, Mr. Hanif refused to disclose

     any details of the business, even the name of the owners. He further informed us that they do    

business with reliable parties for several years and no need to disclose details of the concern  without knowing to whom they are supplying concern  details.

 

The Proprietorship/Partnership Companies are registered at the Provincial Registrar of Companies and as the management declined to provide registration details it is not possible to trace concern  details at the Registrar’s office.                         

                               

·         Location.

 

                 The subject concern  is located at the client given address, # 151/1, 1st Floor, Chandra

                 Super Market, Keyzer Street, Colombo 11.  Sri Lanka, a prominent business area in 

                 the city.

 

·         Operational Details.

 

General

                    The primary line of business of the subject concern  is importing and distribution of Textiles/Fabrics.

 

Products

All kinds of textiles – Shirting, suiting, Sarees ETC.

                      

·         Import & Countries

India, China

 

No of Employees

                    Not disclosed

 

·         Financial Data

The concern  has declined to provide information on its finances.

                  

Based on the corporate laws of Sri Lanka, legal entities which are Private with Limited Liability are not required to make public disclosure of their annual financials.  Therefore no financials are available for this entity

 

·         Trade references

                    The subject concern  declined to provide any trade references

 

·         Credit Recommendations

                    Since no financial or any other concern  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%)

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.