MIRA INFORM REPORT

 

 

Report Date :

18.05.2012

 

IDENTIFICATION DETAILS

 

Name :

ALI BROTHERS (PVT) LTD

 

 

Registered Office :

228, Layards Broadway, Colombo 14.

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

26.04.1995

 

 

Com. Reg. No.:

PV 3399

 

 

Legal Form :

Private Limited Liability Company  

 

 

Line of Business :

Import and distribute of all kind of vehicles, palm oil and export of rubber

 

 

No. of Employees :

150 Approximately

 

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

:

ALI BROTHERS (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Managing Director

:

Naeem Mohamed Hyder Ali

Primary Line of Business

:

Import and distribute of all kind of vehicles, palm oil and export of rubber

Head Office

&

Place of Business

 

:

 

228,

Layards Broadway,

Colombo 14.

 

Tel. No: (00 94 11) 233 0207 – 8 / 243 9493

Fax No: (00 94 11) 2541104

 

E-mail:  alibros@slt.lk

 

Location : Owned

No. of Employees

:

150 Approximately

Customers

:

·   Wholesaler

·   Retailers

·   End Users

Sister Concern

:

·   Kobe Motor Company, Japan

 

 

 

 

           

                       


COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

N (PVS) 14843

Date of Registration

:

26th April 1995

Re-registration No

:

PV 3399

Date of Re-registration

:

21st April 2008

Registered Office

:

No.228, Layards Broadway, Colombo 14

Board Of Directors

As At

26th July 2011

:

N. M. Hyder Ali

Managing Director

N. M. Asad Ali

Director

M. Illyas Mohamed Minhar

Director

M. Naeem Ali

Director

Umar Aliu Hyder Ali

Director

Issued Share Capital

:

LKR.  91,600,000.00    

Nominal Value of Share

:

LKR.                10.00

Share Holders

As At

26th July 2011

:

 Share Holders

No of Shears

N. M. Hyder Ali

4,330,000

N. M. Asad Ali

4,330,000

M. Illyas Mohamed Minhar

500,000

Secretaries

:

Seccom (Pvt) Ltd

Auditors

:

Weerasinghe and Company

Bankers

:

Peoples Bank

Bank of Ceylon, Corporate Branch, Colombo

 

 

NOTE:

 

Subject Company was started in 1986 as a Partnership Firm with the name of “Ali Brothers” but in 1995 it was converted into Private Limited with the name of “Ali Brothers Pvt. Ltd.” As Claimed by Mr. Minhar (Director).

 

 

FINANCIAL DETAILS

- Most recent available Financial Information

     

    THE COMPANY HAS TO PROVIDE INFORMATION ON ITS FINANCES

 

 

31.03.2011

31.03.2010

 

Sales Turnover

::

LKR 3.5 Billions

LKR 2 Billions

 

Expected Sales (2011-2012) : LKR. 5 Billions

 

 

Information parted by

 

Name               : Mr. Minhar

Designation     : Director

Contact            : 00 94 11 – 2330207

Date                 : 05.12.2011

 

CURRENT INVESTIGATION                      

 

 

·         History.

 

                  The Subject Company ALI BROTHERS (PVT) LTD is a Private    Limited   liability Company incorporated on 26th April 1995 under registration number N (PVS) 14843 and then the company was re-registered on 21st April 2008 under registration number PV 3399.

 

·         Location.

The Subject Company is located at the client given address No.228, Layards Broadway, Colombo 14

 

·         Operations Details.

 

General

The subject company primary line of business is Import and distribute of all kind of vehicles, palm oil and export of rubber

 

Products

o        Vehicles – HONDA, SUZUKI, TOYOTA, MAZDA, NISSAN

o        Natural Rubber

o        Palm Oil

 

Export Countries

China, India, Pakistan, Iran

 

Import Countries

Japan, UK, Singapore, Malaysia, Indonesia

 

Employees

                  150 Approximately

 

Trading Terms

Purchase : L/C, Cash, Credit (30 Days)

Selling: L/C, Cash, Credit (30 Days)

 

Director Details

 

Name

N. M. Hyder Ali

ID Number

600481550 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

17th February 1960

Age

51 Years

 

 

Name

N. M. Asad Ali

ID Number

622441955 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

28th August 1962

Age

49 Years

 

 

Name

M. Illyas Mohamed Minhar

ID Number

713370428 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

2nd December 1971

Age

40 Years

 

 

 

Name

M. Naeem Ali

ID Number

752772088 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

3rd October 1975

Age

36 Years

 

 

Name

Umar Aliu Hyder Ali

ID Number

860082187 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

8th January 1986

Age

25 Years

 

·         Financial Data

                  The company has to provide information on its finances               

                 

·         General Comments

 When we contacted the Subject Company they provided most basic details to prepare this report.

 

·         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.

 

 

ANALYSIS & RATING

- Appraisal and Rating of Subject Company

 

Rating:

Management Capability

Average

Commercial Morality

Average

Reputation

Average

Market Situation

Very Competitive

                                   

 

 

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.