|
Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
STAR GARMENTS (PVT) LTD |
|
|
|
|
Registered Office : |
# 28,Rosemead Place, Colombo – 07 |
|
|
|
|
Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
29.08.1978 |
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|
|
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Com. Reg. No.: |
PV 7213 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturers and Exporters of Readymade Garments |
|
|
|
|
No. of Employees : |
Approximately 4,000 |
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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) |
|
Sri lanka |
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 |
: |
STAR GARMENTS
(PVT) LTD |
|
Legal Form
& Status |
: |
Private Limited Liability Company (In Operation) |
|
Managing Director |
: |
A.
Sukumaran |
|
Primary Line of Business |
: |
Manufacturers
and Exporters of Ready made Garments |
|
Place of
Business & Factory |
: |
Phase
01, Ring Road 02, Export
Processing Zone, Katunayake, Sri
Lanka. Tel.
No: (00 94 11) 225 2938-9 Fax
No: (00 94 11) 225 2937 / 483 7000 E-Mail:
starcom@star.lk |
|
No. of Employees |
: |
Approximately 4,000 |
|
Registration No |
: |
PVS
5229 |
||
|
Date of
Registration |
: |
29th
August 1978 |
||
|
Re-Registration
No |
: |
PV
7213 |
||
|
Date of
Re-registration |
: |
05th September, 2008 |
||
|
Registered
Office |
: |
#
28,Rosemead Place, Colombo – 07 |
||
|
Board of Directors As At 14th October 2011 |
: |
A.
Sukumaran |
Managing Director |
|
|
Issued Share
Capital |
: |
Rs. 6,800,020.00 |
||
|
Nominal Value of
Share |
: |
Rs. 10.00 |
||
|
Share Holders As At 14th October 2011 |
: |
Share Holders |
No. of Shares |
|
|
Elgin
Trading Co Ltd - Incorporated in Hong Kong |
680,000 |
|||
|
Executive
to the Estate of Late Asker Moosajee |
02 |
|||
|
Auditors |
: |
KPMG Ford Rhodes
Thornton & Company |
||
|
Company
Secretaries |
: |
Financial Services & Commercial
Agencies Ltd |
||
|
Bankers |
: |
Hatton
National Bank PLC HSBC |
||
·
History.
The Subject Company STAR GARMENTS (PVT) LTD is
a Private Limited Liability Company incorporated on 29th August 1978, under registration number PVS 5229 and then the company was
re-registered on 5th
September 2008 under registration number PV 7213.
The subject company STAR GARMENTS (PVT) LTD is a Group of company consists of the
following companies.
§
FGI Lanka (Pvt)
Ltd
§
VT Manufacturing
(Pvt) Ltd
·
Location
The Subject
Company is located at client given address Phase
01, Ring Road 02, Export Processing Zone, Katunayaka.
·
Operational
Details.
General
The subject company’s primary line of
activity is Manufacturers and Exporters
of ready made Garments.
Products
o
Ladies wear
o
Gents wear
o
Leisure wear
o
Children’s wear
o
Swim wear
Export Countries:
UK, USA, UAE, Italy, France, Germany
No of
Employees
Approximately 4,000
Director’s Details
01)
|
Name |
A.
Sukumaran |
|
ID
Number |
620970395
V |
|
Nationality |
Sri
Lankan |
|
Gender |
Male |
|
Date
of Birth |
06th
April 1962 |
|
Age |
50
Years |
·
Financial Data
The company has declined to
provide any financial information
Financial Information of private limited liability/partnership/
proprietorship
Companies are not made available for
public use.
·
Trade references
The
subject company did not provide any trade references
·
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.