MIRA INFORM REPORT

                                         

 

Report Date :

17.05.2012

 

IDENTIFICATION DETAILS

 

Name :

A.S.P. SIVAN PILLAI

 

 

Registered Office :

#  214, Keyzer Street, Colombo 11

 

 

Country :

Sri lanka

 

 

Date of Incorporation :

08.11.1985

 

 

Com. Reg. No.:

W 58712

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importers and wholesalers of food items

 

 

No. of Employees :

25

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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

:

 

A.S.P. SIVAN PILLAI

 

Legal Form  & Status

:

Partnership Concern  (In Operation)

Managing Partner

 :

S. Ramasamy

Primary Line of Business

:

Importers and wholesalers of food items

Office &

Place of Business

:

 

# 214, Keyzer Street,

Colombo 11.

Sri Lanka

 

Tel. No:  cTel/Fax No: (00 94 11) 232 3461

 

E-mail: aspsn@sltnet.lk

 

Location : owned

 

No. of  Employees

:

Approximately 25

Importers of

:

Products: Food Items

Country : Australia, Canada, India, Pakistan, Turkey

Terms of Purchase

:

Cash, Credit

 

Terms of Sale

:

Cash, Credit

 

Customer Types      

:

·         End Users

Retailers

Wholesalers

           

 

CONCERN  DETAILS-Registration and Shareholder Details

 

Registration No

:

WA 7449

Date of Registration

:

08th November 1985

Re-Registration No

:

W 58712

Date of Re-Registration

:

02nd July, 2008

Registered Office

:

#  214, Keyzer Street, Colombo 11, Sri Lanka

Partners

:

Mr. Subrayan Ramasamy

Managing Partner

Mr. M. H. Sarath

Partner

Mrs. Shamalee Sarath

Partner

Mrs. Pooranam Ramasamy

Partner

Auditors

:

Aiyar & Company

 

Company Secretaries

:

-Not Applicable-

 

Bankers

:

Commercial Bank PLC

Foreign Branch

Facility : Import Loan & Over Draft  - 100 LKR Millions

 

 

Information Parted By:

 

Name               : Mr. Shanmugam

Designation     : Finance Manager

Mobile No.       : 94-11-2390006

Date                 : 12.05.2012

CURRENT INVESTIGATION

 

·         History:

                  The Subject Concern  A.S.P. SIVAN PILLAI is a Partnership Concern , initially 

                  Incorporated on 08th November 1985 under Registration No. WA 7449 as an Indent Agent

                  and Re-Registered under Registration No. W 58712 on 02nd July, 2008 with the concern 

                  entering into importing business.

 

                  The subject is having an associate concern  named “SHREE RAM IMPEX”.

 

·         Location.   

The Subject Concern  is located at the client given address # 214, Keyzer Street, Colombo 11, Sri Lanka, one of the most important business areas.

 

                                                        

 

 

·         Operations Details.

 

General

The subject concern  primary line of business is importers and wholesalers of food items

 

Products

Rice, Potatoes, Onions, Chillies, Edible fats & Oils, Lentils, Green Gram, Sugar etc…

 

 

              

 

Import Countries

Australia

China

Turkey

Bulgaria

Canada

Chile

Yangon

India

 

No of Employees

25 Employees

 

Financial Data

 

                                                                                                              (Amt. In LKR Millions)

Particulars

 

31.03.2012

31.03.2011

Sales Turnover

652.000

600.000

                                                                                           

Expected Sales (2012-2013):- 700.000 LKR Millions

 

·         Associate Concern :

    

      SHREE RAM IMPEX,

       Address: # 72, 04th Cross Street, Colombo 11, Sri Lanka

 

        Tel No: (00 94 11) 242 2640

        Fax No: (00 94 11) 243 6243

 

·         General Comments

When the Subject Concern  was contacted they were polite in providing the basic information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

 

·         Trade references:

National Chamber of Commerce of Sri Lanka

Ashish Brothers

Freedom Exports

 

·         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 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.54.29

UK Pound

1

Rs.86.61

Euro

1

Rs.68.87

 

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.