MIRA INFORM REPORT

 

 

Report Date :

05.06.2012

 

IDENTIFICATION DETAILS

 

Name :

F S TRADERS (PVT) LTD

 

 

Registered Office :

C2-7, Economic Dedicated Center, Dambulla

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

14.02.2008

 

 

Com. Reg. No.:

PV 63047

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importers & General Merchants in all kinds of food items

 

 

No. of Employees :

Approximately  20

 

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 – 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

:

F S TRADERS (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company (In Operation)

Managing Director

:

M. Ismail Mohamed Shafir

Primary Line of Business

:

Importers & General Merchants in all kinds of food items

Head office

&

Place of Business

 

 

 # C2-7, Economic Dedicated Center,

Dambulla.

Sri Lanka.

 

Tel. No: (00 94 66) 228 4203; 228 5245

Fax No: (00 94 66)  228 5244             

 

Email:  rohim009@hotmail.com

             fs_traders@hotmail.com

No. of Employees

:

Approximately  20

           

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

PV 63047

Date of Registration

:

14th February, 2008

Registered Office

:

 C2-7, Economic Dedicated Center, Dambulla, Sri Lanka

 

Board of Directors

As at

31st November 2010

 

 

M. Ismail Mohamed Shafir

Managing Director

M. Ismail Mohamed Kiyas

Director

 

Issued Share Capital

:

Rs.    1,000.00

Nominal Value of Share

:

Rs.         10.00

 

Share Holders

As at

31st November 2010

 

:

Share Holders

No. of

Shares

M. Ismail Mohamed Shafir

100

Auditors

:

Ratnayake and Company

Company Secretaries

:

Business Allied Services (Pvt) Ltd.

Bankers

:

Seylan Bank

 

 

CURRENT INVESTIGATION

 

·         History.

                    The Subject Company F S TRADERS (PVT) LTD is a Private    Limited   Liability Company

                    incorporated on 14th February 2008 under registration number PV 63047.

 

·         Location.

                    The Subject Company F S TRADERS (PVT) LTD is located at the client given address #C-2-7, Economic Dedicated Center(EDC), Dambulla, a city approx. 150 kilo meters from Colombo on the Colombo- Trincomalee highway.

            

                    Dambulla is a city of historical, tourists and sports interests with Ancient & Sacred Rock Temple, Lakes, Wild Life Parks, International Cricket Stadium, Hotels & Restaurants etc.

                  

·         Operational Details.

 

General

                    The subject company’s primary line of business is importing, marketing and distribution of all kinds of food products.

 

Products

                    Potatoes, Onions, Lentils, Garlic, White rice, Ruby fish….etc

Import Country

India, China

               

                  No of Employees

                  Approx. 15

 

Directors Details

 

01)

Name

M. Ismail Mohamed Shafir

ID Number

671620836 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

10th  June1967

Age

39 Years

 

 

02)

Name

M. I. Mohamed Kiyas

ID Number

751031661 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

12th   April 1975

Age

31 Years

 

 

·         Financial Data

The company has declined to provide information on its finances.  

 

                    Further, 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 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.55.52

UK Pound

1

Rs.85.29

Euro

1

Rs.68.86

 

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.