MIRA INFORM REPORT

 

 

Report Date :

18.05.2012

 

IDENTIFICATION DETAILS

 

Name :

OMEGA TRADERS

 

 

Registered Office :

# 62 A, Old Moor Street, Colombo- 12

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

1981

 

 

Com. Reg. No.:

W 7300

 

 

Legal Form :

Partnership Company (In Operation)

 

 

Line of Business :

Import & Exporters Wholesale of Food Items

 

 

No. of Employees :

15

 

 

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 – September 30, 2011

 

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

 

a.

Name of Subject of Inquiry

:

OMEGA TRADERS

b.

Legal Form  & Status

 

:

 

Partnership Company (In Operation)

c.

Managing Partner

 :

N. Selvaraj  

d.

Primary Line of Business

:

Import & Exporters Wholesale of Food Items

e.

Place of Business

:

 

# 62 A,

Old Moor Street

Colombo- 12

 

Tel. No: (00 94 11) 234 1747 / 243 2350 / 536 3716

Fax. No: (00 94 11) 243 4905

 

Mobile No: (00 94 77) 776 0232 - Mr. N. Selvaraj 

 

Email: selvaomega@gmail.com

 

f.

No. of  Employees

:

Approximately 15

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

a.

Registration No

:

W 7300

b.

Year of Registration

:

1981

c.

Registered Office

:

 

# 62 A, Old Moor Street, Colombo- 12, Sri Lanka.

 

d.

Partners

:

N. Selvaraj  

Managing Partner

E. Muthukrishnan

Partner

e.

Auditors

:

Burahx Hathy & Co-Colombo 

f.

Bankers

:

Bank of Ceylon

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

 

Year Ending

31.03.2010

In Rupees

Year Ending

31.03.2009

In Rupees

A

Revenue

:

1,075,264,527

930,979,546

B

 Cost of Sales

:

1,028,598,936

891,330,896

C

 Gross Profit

:

46,665,591

39,648,650

D

Other Income

:

967,867

853,564

E

Administration Cost

:

19,265,664

13,253,836

F

Distribution Cost

:

13,618,160

13,068,235

G

Finance & Other Cost

:

3,584,395

4,340,667

H

Net Profit / (Loss) before Tax

:

11,165,239

9,839,476

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

 

Year Ending

31.03.2010

In Rupees

             Year Ending

              31.03.2009

In Rupees

a)

Current Asset

:

118,708,630

99,753,122

b)

Current Liabilities

:

81,683,815

68,001,325

c)

Working Capital

:

37,024,815

31,751,797

d)

Total Asset

:

164,336,899

146,766,340

e)

Total Liabilities

:

113,873,786

96,303,230

f)

Net Worth

:

50,463,113

50,463,110

g)

Closing Stock

:

47267149

45865080

 

 

CURRENT INVESTIGATION

 

·         History.

The Subject Company OMEGA TRADERS is a Partnership Company incorporated in                                     1981 under registration number W7300

                                                        

·         Location.

The Subject Company is located at the client given address # 62 A, Old Moor Street,                                Colombo- 12, Sri Lanka, one of main commercial areas in Colombo city.

                                        

·         Operational Details.

 

General

                  The subject company primary line of business is Import & Exporters, & Wholesale dealers of Food Items.

 

Products

o        Potatoes

o        Onions

o        Garlic

o        Canned Fish

o        Chillies

o        Rice, etc…

 

 

·         Import & Export Countries

China, India, Malaysia, Turkey, Pakistan

 

 

No of Employees

                  Approximately 15

 

·         Financial Data

 

Subject Company refused to provide its latest financial information 

 

·         General Comments

 

The subject company when contacted provided all the basic information to prepare this report. 

 

 

·         Trade references

 

                  The subject company did not provided any trade references. 

 

·         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.

 

 

Name of person parting INFORMATION

 

Name

N. Selvaraj   

Designations

Managing Partner 

Mobile No

(00 94 77) 776 0232

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.38

UK Pound

1

Rs.86.57

Euro

1

Rs.69.30

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.