MIRA INFORM REPORT

 

 

Report Date :

10.11.2012

 

IDENTIFICATION DETAILS

 

Name :

SAZ HOLDING (PVT) LTD

 

 

Registered Office :

# 16A, Aponsu Mawatha, Laxapathiya, Moratuwa

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

20.10.2003

 

 

Com. Reg. No.:

PV 4428

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Import and sale of machinery

 

 

No. of Employees :

Not Available 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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

(31.03.2012)

Current Rating

(30.06.2012)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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

 

GENERAL

Basic information at a glance

      

Name of Subject of Inquiry

:

SAZ HOLDING (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

Zareen Liyanage

Primary Line of Business

:

Import and sale of machinery

Head office

&

Place of Business

 

 

 

# 16A, Aponsu Mawatha,

Laxapathiya,

Moratuwa.

Sri Lanka

 

Tel. No: (00 94 11) 262 2717

Fax No: (00 94 11) 262 2717

 

No. of Employees

:

 

Not disclosed

 

 

           

COMPANY DETAILS 

Registration and Shareholder Details

 

Registration No

 

:

 

N (PVS) 35460

Date of Registration

 

:

20th October, 2003

Re-registration No

 

PV 4428

Date of Re-registration

 

 

16th June 2008

Registered Office

:

# 16A, Aponsu Mawatha, Laxapathiya, Moratuwa, Sri Lanka

Board of Directors

As At

31st December, 2008

:

Zareen Liyanage

Managing

Director

Anusha Kumari Liyanage

Director

Issued Share Capital

:

Rs.  40.00

Nominal Value of Share

:

Rs.  10.00

 

Share Holders

As At

31st December,2008

 

:

Share Holders

No. of

Shares

Zareen Liyanage

01

Anusha Kumari Liyanage

01

Auditors

:

Udayasiri Kariyawasam & Co.

Company Secretaries

:

Anusha Kumari Liyanage

Bankers

:

-Not Disclosed-

 

 

FINANCIAL DETAILS

Most recent available Financial Information

 

     THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

                                                                                   

      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

 

 

CURRENT INVESTIGATION                      

 

·         History.

The Subject Company SAZ HOLDING (PVT) LTD.  is a Private Limited  liability Company incorporated on  20th October, 2003 under registration number  N (PVS) 35460

            

And re-registered in terms of Companies Act. # 07 of 2007 on 16th June, 2008 under

             Registration number PV 4428.

 

·   Location.

     The Subject Company is located at the client given address # 16A, Aponsu Mawatha,

     Laxapathiya, Moratuwa, a town approx. 15 kilo meters from Colombo on the southern

     Highway.

 

·   Operational Details.

 

General                   The subject company’s primary line of business is import and sale of machinery and spare parts

.

Products

 All types of industrial machinery and spare parts

 

Import Country

India, Taiwan

 

No of Employees

                  Not Disclosed-

 

·         Directors & Shareholders Information

 

                01)

Name

Zareen Liyanage

Sex

Female

Nationality

Sri Lankan

National ID No.

527711967V

Date of Birth

27th September, 1952

Age

60 Years

 

 

                02)

Name

Anusha Kumari Liyanage

Sex

Female

Nationality

Sri Lankan

National ID No.

825770917V

Date of Birth

12th March 1982

Age

30 Years

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.86.97

Euro

1

Rs.69.43

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.