MIRA INFORM REPORT

 

 

Report Date :

09.06.2012

 

IDENTIFICATION DETAILS

 

Name :

MALAVANCE

 

 

Registered Office :

# 214, 4th Cross Street, Colombo 11

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

Not Available 

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Proprietorship Concern 

 

 

Line of Business :

Import & Distribution of Food Items

 

 

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 :

---

 

 

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

:

MALAVANCE

Legal Form  & Status

 

:

 

Proprietorship Concern 

 Managing Proprietor

 :

Siva

Primary Line of Business

:

Import & Distribution of Food Items

Office & Place of Business

:

 

Tel./Fax No: (00 94 11) 243 9556

 Mobile No: (00 94 72) 740 3020

 

No. of  Employees

:

Not Disclosed

 

        

CONCERN  DETAILS

- Registration and Shareholder Details

 

Registration No

:

Not Disclosed

Year of Registration

:

Not Disclosed

Registered Address

:

 

# 214, 4th Cross Street, Colombo 11. Sri Lanka.

 

Proprietor

:

Siva

Managing Proprietor

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 , MALAVANCE is a Proprietorship or Partnership Concern .

 

Our investigator visited the client given address, and the person who claimed to be

the proprietor of the subject, Mr. Siva, refused to disclose registration and

operational details of the concern  without knowing the identity of the end user of this

enquiry in spite of our explaining in 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  MALAVANCE is located at the client given address # 214, 4th Cross  Street, Colombo 11. Sri Lanka, a prominent business area in the city.

 

 

·         Operational Details.

 

General

                   The details of the subject concern ’s primary line of business is importing & distribution of Food Items

 

Products

 Onions

                       

·         Import & Countries

India

 

No of Employees

Not disclosed

 

·         Financial Data

 

The concern  has declined to provide information on its finances.

 

In Sri Lanka, financial information of Limited Liability/Proprietorship/Partnership Companies is not available for public use.

 

 

·         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.55.36

UK Pound

1

Rs.85.64

Euro

1

Rs.69.21

 

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.