|
Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
TESCO |
|
|
|
|
Registered Office : |
# 17A, 4th Cross
Street., Colombo-11 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Legal Form : |
Partnership |
|
|
|
|
Line of Business : |
Importer
of Food Items |
|
|
|
|
No. of Employees : |
21 |
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 |
|
a. |
Name of Subject of Inquiry |
: |
TESCO
|
|
b. |
Legal
Form & Status |
: |
Partnership |
|
c. |
Partner
|
: |
Mr.
Thulasikaran Mr.
Mudian Selagi Mr.
Deving |
|
d. |
Primary Line of Business |
: |
Importer of Food Items Country’s – Canada, Australia,
Denmark, India |
|
e |
Place of Business |
: |
# 17A, 4th Cross Street. Colombo-11. Sri Lanaka (Owned) Mobile: (00 94 77) 365 8470- (Mr. Thulasikaran – Proprietor) |
|
f. |
Office & Stores |
: |
# 5, Hubert Place, Colombo -15 |
|
g. |
No. of Employees |
: |
Approx. 21 |
|
a. |
Registration No |
: |
- Not Disclosed- |
|
|
b. |
Date of Registration |
: |
2005 |
|
|
c. |
Registered Office |
: |
#5 Hubert Place, Colombo-05, Sri Lanka. |
|
|
d. |
Auditors |
: |
Sathiraj
& Co |
|
|
e. |
Company Secretaries |
: |
Not Applicable |
|
|
f. |
Bankers |
: |
Nation Trust Bank/ Bank Of Ceylon |
|
·
History.
The Subject Company TESCO is a
proprietorship company in operation.
The Proprietorship/Partnership
companies are being registered at the Provincial Registrar of Companies and
when the owner refuse to provide such details, it is not possible to obtain
such details from the registry.
·
Location.
The Subject Company is
located at # 17A, 4th Cross
Street, Colombo-11 and the client given address # 5, Hubert Place, Colombo -15, is where the stores are housed.
·
Operational
Details.
General
The subject company’s primary
line of business is Import and
Distribution (Wholesale) of food items.
Products
Potatoes, Onions, Chillies, Lentils etc.
Import
Country
Canada, Australia, Denmark, India
Employees
Approximately 21.
·
Financial
Data
The
company has declined to provide information on its finances
Further, In Sri Lanka, Private Companies do not publish their Accounts
for Public use
other than the Shareholders
·
General Comments
When we contacted the subject company and they refused to provide any information such
as
Operational & financial Information of the company. If they need any information
they
Can contact him directly and
no Information could be provided without knowing who the end
User the subject company when
contacted declined to disclose any operational or financial
Information. However all
information received is from non-formal sources but clearly
Originating from 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.
|
Name |
|
Mr.
Thulasikaran |
|
Designation |
|
Partner |
|
Tel No |
|
00 94 773658470 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.73 |
|
|
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
|
Calling by : |
PJA |
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.