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Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ZAIN TRADING |
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Registered Office : |
# 162/38, G. Megoda, Kolonnawa, Wellampitiya |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Not Available |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Name of Subject of Inquiry |
: |
ZAIN
TRADING
|
|
Legal Form
& Status |
: |
Not Disclosed |
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Managing Proprietor |
: |
Not
Disclosed |
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Primary Line of Business |
: |
Not Disclosed |
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Office & Place of Business |
: |
When our investigator met the proprietor at the client given address (which is his residence) he has informed that the place of business is in Colombo but refused to disclose details such as address, telephone number and products. Tel./Fax
No: (00 94 11) Not Disclosed Fax
No: (00 94 11) Not Disclosed |
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No. of
Employees |
: |
Not
Disclosed |
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Registration No |
: |
Not Disclosed |
|
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Year of
Registration |
: |
Not Disclosed |
|
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Registered
Address |
: |
# 162/38, G. Megoda, Kolonnawa,
Wellampitiya Sri
Lanka. |
|
|
Proprietor |
: |
When our investigator visited the client given address (which is his residence) inmates refused to disclose even his name. |
Managing
Proprietor |
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Auditors |
: |
Not Disclosed |
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Bankers |
: |
Not Disclosed |
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THE COMPANY 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
·
History:
The subject
company, ZAIN TRADING is not
registered with Registrar of Companies (ROC) and therefore it could be either a Proprietorship or
Partnership Company.
Our
investigator visited the client given address, which is a residence and the
inmates refused to disclose any details of the business place such as address,
contact telephone number etc and even the name of the owner. The neighbours were not able to provide any
information about the subject company or the proprietor.
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 company
details at the Registrar’s office.
·
Location.
Our investigator visited the client given
address, # 162/38, G. Megoda, Kolonnawa, Wellampitiya, a town approx. 20 kilo meters
from Colombo and found the premises to be the residence of the proprietor of
the subject company. The inmates therein declined to provide any information
about the company. This can be the registered address of the company and also
the residence of the Proprietor and the business place may be else where.
As this subject is
not listed in the telephone directory, it is not possible to trace any contact
number or the present business place.
·
Operational
Details.
General
The details of the subject
company’s primary line of business is not available.
Products
Not Available
Import &
Countries
Not Available
No of Employees
Not disclosed
Financial Data
The company 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 company
declined to provide any trade references
Credit Recommendations
Since no financial or any other company 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.53.72 |
|
UK Pound |
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
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.