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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
KAY R INTERNATIONAL |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02.03.2002 |
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Com. Reg. No.: |
W/A 44186 |
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Legal Form : |
Proprietorship Company (In Operation) |
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Line of Business : |
Exporter of Waste paper |
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No. of Employees : |
Approx. 07 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka continues to
experience strong economic growth, driven by large-scale reconstruction and
development projects following the end of the 26-year conflict with the LTTE. Sri
Lanka is pursuing a combination of government directed policies, private
investment, both foreign and domestic, to spur growth in disadvantaged areas,
develop small and medium enterprises, and increase agricultural productivity.
The government struggles with high debt interest payments, a bloated civil
service, and historically high budget deficits. However recent reforms to the
tax code have resulted in higher revenue and lower budget deficits in recent
years. The 2008-09 global financial crisis and recession exposed Sri Lanka's
economic vulnerabilities and nearly caused a balance of payments crisis. Growth
slowed to 3.5% in 2009. Economic activity rebounded strongly with the end of
the war and an IMF agreement, resulting in two straight years of high growth in
2010 and 2011. Per capita income of $5,600 on a purchasing power parity basis
is among the highest in the region.
Source : CIA
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a. |
Name of Subject of Inquiry |
: |
KAY R
INTERNATIONAL |
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b. |
Legal Form & Status |
: |
Proprietorship Company (In Operation) |
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c. |
Proprietor |
: |
Kingsley Yesaiah |
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d. |
Primary Line of Business |
: |
Exporter of
Waste paper |
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e. |
Head Office & Place of
Business |
: |
#
74, Pickerings Road, Colombo
13, Sri
Lanka Tel
No/Fax: (00 94 11) 233 7411 Email:
kinginchrist@gmail.com |
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f. |
No. of Employees |
: |
Approx.
07 |
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a. |
Registration No |
: |
W/A 44186 |
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b. |
Date of Registration |
: |
02nd March, 2002 |
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c. |
Registered Address |
: |
74,
Pickerings Road, Colombo 13, Sri Lanka |
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d. |
Auditors |
: |
J.S.A.
Associates |
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e. |
Company Secretaries |
: |
Not Applicable |
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f. |
Bankers |
: |
Bank of Ceylon, Seylan Bank PLC |
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Customers |
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End Users |
- Most recent available Financial
Information
Based on the corporate
laws of Sri Lanka, legal entities which are Private Company with
Limited Liability is not required to make
public disclosure of their annual financials.
Therefore no financials are available for
this entity.
(General Details)
Name: Kingsley
Yesaiah
Designation:
Proprietor
Date: 02.11.2012
History:
The Subject
Company KAY R INTERNATIONAL is
Proprietorship Company, in
Operation
It has been incorporated on 02nd
March, 2002 under registration No: W/A 44186
·
Location.
The Subject
Company is located at the client,
Colombo 13, Sri Lanka, a very prominent
business area in the city where hardware
Businesses are operating.
·
Operational
Details.
General
The subject company’s primary
line of business is Import &
distribution of Beedi Tobacco
& tobacco
wrapping leaves and exporting Waste Paper,
Products:
Export – Waste Paper
Import – Tobacco leaves and tobacco for “Beedi” (type of cigar)
Equipment to Gove
Import/Export
Countries
India. Average 2
shipments per month.
No of Employees
Approx 7
employees.
·
Financial Data
The company has
declined to provide information on its finances. However, they said the
investment is around 10 million rupees
In Sri Lanka, Private Limited Liability/ Partnership or Proprietorship
Companies do
not publish their Accounts for Public use, other than the shareholders.
·
General Comments:
When the Subject Company was contacted,
Proprietor Mr. Yesaiah was very polite in providing the basic information given
in this report; however he declined to provide financial details without
knowing the details of the end user of this enquiry.
·
Trade references:
The subject
company has not provided 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.78 |
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|
1 |
Rs.86.77 |
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Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.