MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Name :

WILSON TRADING COMPANY

 

 

Registered Office :

# 104/7, Dam Street, Colombo 12

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

09.01.1995

 

 

Com. Reg. No.:

WA 8285

 

 

Legal Form :

Partnership Concern 

 

 

Line of Business :

Importers and Suppliers of Sugar

 

 

No. of Employees :

60

 

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 :

No Complaints

 

 

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

:

 

WILSON TRADING COMPANY

 

Legal Form  & Status

:

Partnership Concern  (in operation)

Managing Partner

:

L. Hemantha  Jayalath

Primary Line of Business

:

Importers and Suppliers of Sugar

Head Office

&

Place of Business

 

:

 

# 104/7, Dam Street,

Colombo 12,

Sri Lanka

           

Tel. No: (00 94 11) 243 8950 / 234 3110 / 239 0544-6

Fax No: (00 94 11) 239 0115

 

Mobile No:(00 94 77) 308 5058 – Kasun Andrahennadi     (General Manager)

Location : Owned

No. of Employees

:

60

           


COMPANY DETAILS

- Registration and Shareholder Details

 

Registration No

:

WA 8285

Date of Registration

:

09th January 1995

Registered Office

:

# 104/7, Dam Street, Colombo 12, Sri Lanka.

Partners

 

:

L.Hemantha Jayalath

Managing Partner

L. S. Priyantha Dayasiri

Partner

L. S. Kithsiri

Partner

N. Karunasiri Lokumanna

Partner

 

 

Secretaries

:

-Not Applicable-

Auditors

:

-Not Disclosed-

Bankers

:

Seylan Bank, Colombo

Over draft,  Term Loan – Rs. 300 LKR Millions

Terms of Purchase

:

Cash / Credit

 

Terms of Sale

:

Cash / Credit

Customer Types           

:

·         End Users

 

 

 

Information Parted By:

 

Name               : Mr. Kashun

Designation     : General Manager

Mobile No.       : 94-77-3085058

Date                 : 20.06.2012

 

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

The Subject Concern  WILSON TRADING COMPANY is a Partnership Concern  incorporated on 09th January 1995 under registration number WA 8285.

 

                   The Proprietorship/Partnership companies are being registered at the Provincial               

                    Registrar of Companies.                

                   

·         Location.

                   The Subject Concern  is located at the client given address # 104/7, Dam Street, Colombo 12,

                  a highly commercial area

 

The telephone numbers which have been   given by the client are not owned by WILSON TRADING COMPANY. These numbers are used by one of the suppliers of WILSON TRADING COMPANY.

 

      Operations Details.

 

General

The subject concern ’s primary line of business is Import and Supply of food items such as sugar.

 

Products

Sugar

 

Import Country

Taiwan and India

 

No of Employees

60

 

·         Partners Information

 

01)

Name

L. H. Jayalath

Sex

Male

Nationality

Sri Lankan

National ID No.

600370240 V

Date of Birth

06th February 1960

Age

52 Years

Address

596/79, Bandaranayake Mawatha, Anuradhapura.

 

 

02)

Name

L. S. Priyantha Dayasiri

Sex

Male

Nationality

Sri Lankan

National ID No.

660621750 V

Date of Birth

02nd March 1966

Age

46 Years

Address

596/79, Bandaranayake Mawatha, Anuradhapura.

 

                   03)

Name

L. Saman Kithsiri

Sex

Male

Nationality

Sri Lankan

National ID No.

622792893 V

Date of Birth

05th October 1962

Age

43 Years

Address

596/79, Bandaranayake Mawatha, Anuradhapura.

 

04)

Name

N. Karunasiri Lokumanna

Sex

Male

Nationality

Sri Lankan

National ID No.

611831803 V

Date of Birth

01st July 1961

Age

50 Years

Address

596/79, Bandaranayake Mawatha, Anuradhapura.

 

 

·         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 Company with Limited       

                    Liability is not required to make public disclosure of their annual financials. Therefore, no

Financials are available for this entity

 

 

·         Trade references

1.       Sakuma Exports Limited

2.       UMA Exports

3.       Om Saravana

 

·         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 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.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

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.