MIRA INFORM REPORT

 

 

Report Date :           

17.03.2012

 

IDENTIFICATION DETAILS

 

Name :

HAMEED BROTHERS COLOMBO (PVT) LTD

 

 

Formerly Known As :

HAMEED BROTHERS (COLOMBO) LTD

 

 

Registered Office :

# 376, Grandpass Road, Colombo-14

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

14.12.1967

 

 

Com. Reg. No.:

PV 4688

 

 

Legal Form :

Private Limited Liability Company (in operation)

 

 

Line of Business :

Exporters of SriLanka products mainly Tea, Rubber, Coconut, etc…

 

 

No. of Employees :

Approximately 120

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

:

HAMEED BROTHERS COLOMBO (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company (in operation)

Managing Director

:

Mohammed Tufail Salie

Primary Line of Business

:

Exporters of SriLanka products mainly Tea, Rubber, Coconut, etc…

 

Place of Business

 

:

 

# 376, Grandpass Road,

Colombo-14,

Sri Lanka.

 

Tel  No: (00 94 11) 232 0832 / 232 4447 / 234 5934 - 5

Fax No: (00 94 11) 233 5617 / 247 1503

 

E-Mail: trade@hameed.com

              info@hameed.com

 

Branch

:

# 305/25, Ferguson Road,

Colombo-15

                  

 

Tel No: (00 94 11) 252 1012

 Fax No: (00 94 11) 252 1012

No. of Employees

:

Approximately 120

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

PVS 2631

Date of Registration

:

14th December 1967

Re-registration No

:

PV 4688

Date of Registration

:

25th June 2008

Re-registered Office

:

# 376, Grandpass Road, Colombo-14

Board Of Directors

As At

14th October 2010

:

Mohammed Tufail Salie

Managing Director

Mohammed Ruwise Salie

Director

Issued Share Capital

:

Rs.         15,000,000.00

Nominal Value of Share

:

Rs.                     100.00

Share Holders

As At

14th October 2010

:

 Share Holders

No. of Shares

Mohammed Tufail Salie

81,268

Mohammed Ruwise Salie

8,666

Mohammed Rizwie Salie

60,066

Secretaries

:

David Eliazer Godwin Arulanantham

Auditors

:

Kreston MNS & Co

Bankers

:

 

Bank Of  Ceylon, Union Bank of Middle East Ltd

 

 

CURRENT INVESTIGATION

 

Company Logo

 

·         History.

 

                  The Subject Company HAMEED BROTHERS COLOMBO (PVT) LTD, is a Private Limited liability Company incorporated on 14th December 1967 under registration number PVS 2631 and then the company was re-registered on 25th June 2008 under registration number PV 4688

 

The Subject Company earlier known as HAMEED BROTHERS (COLOMBO) LTD due to re-registration of the Subject Company, name changed to HAMEED BROTHERS COLOMBO (PVT) LTD

 

·         Location.

 

The subject company is located at the client given address # 376, Grandpass Road, Colombo-14.

                   The subject company services currently include the leasing of several large warehouses in the

                  Wattala and Mattakkuliya

 

·         Operational Details.

 

General

                     The subject company Primary line of business is exporting Tea, Rubber and Coconut, coffee, cardamom, paper, grains, pulses, and spices

 

Products

                  All grade of natural Rubber, Coconut Products & Fresh Coconut 

                      

                  Services

                  Leasing of warehouses, truck and container rentals and budget accommodation for business

 

Export Country

Europe and Middle East and 25 Year Countries

 

No of Employees

                  Approximately 120

 

·         Directors details

 

Name

Mohammed Tufail Salie

ID Number

570873636 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

27th March 1957

Age

53 Years

Address

No.11, Maitland Crescent, Colombo – 07.

 

02)

Name

Mohammed Ruwise Salie

ID Number

642350765 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

22nd August 1964

Age

46 Years

Address

No.46/5, Skelton Road, Colombo - 04

 

·         Financial Data

                   The Subject Company refused provide financial data of the company

 

       Financial Information of private limited liability/partnership/ proprietorship      

                   Companies are not made available for public use

 

·         General Comments

When we contacted the Subject Company they provided most of basic information to prepare this report. However they refused politely to provide financial details of the company.         

 

·         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.50.31

UK Pound

1

Rs.79.04

Euro

1

Rs.65.82

 

 

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.