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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
S MART GLOBAL |
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Registered Office : |
# 180/1/123, Peoples Park Complex, Colombo- 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
28.06.2010 |
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Com. Reg. No.: |
W/A 88880 |
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Legal Form : |
Partnership Concern
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Line of Business : |
Import & distribution of all kids of Food Items |
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No. of Employees : |
11 |
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 (31.03.2012) |
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.
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Source : CIA |
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Name of Subject of
Inquiry |
: |
S MART GLOBAL
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Legal Form
& Status |
: |
Partnership
Concern (In Operation) |
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Managing Partner |
: |
G.
Rajendran |
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Primary Line of
Business |
: |
Importers &
Distributors Food Items |
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Office & Place of Business |
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# 180/1/123, Peoples Park Complex, Colombo- 11 Sri Lanka. Tel. No: (00 94 11) 244 1944 Fax No: (00 94 11) 239 3339 Email: gnanam@sltnet.lk |
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No. of Employees |
: |
11 |
Registration and
Shareholder Details
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Registration No |
: |
W/A 88880 |
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Year of
Registration |
: |
28th
June, 2010 |
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Registered Office |
: |
# 180/1/123, Peoples Park Complex, Colombo- 11 Sri Lanka. |
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Partners |
: |
G. Rajendran |
Managing Partner |
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R. Salini (Ms) |
Partner |
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Auditors |
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G & B
Associates |
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Bankers |
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Bank of Ceylon,
Nations Trust Bank, Sampath Bank |
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Information Parted
By:
Name : Mr. G Rajendra
Designation : Managing Partner
Mobile No. : 99-11-2441944
Date : 08.10.2012
THE
CONCERN 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
·
History:
The subject company, S MART GLOBAL is a Partnership Concern (in operation) registered on
28th June, 2010 under Registration No. W/A 88880.
The subject concern is an
associate company of GNANAM IMPORTS (PVT) LTD, a
Concern engage with importing
and distribution of food items (wholesale & retail).
·
Location.
The Subject Concern is
located at the client # 180/1/123, Peoples Park
Complex, Colombo-11,
Sri Lanka, which is a highly commercial area where
Wholesale/retail Merchants are operating.
·
Operational Details.
General
The subject concern primary
line of business is Import & distribution of all kids of Food Items.
Products
Potatoes, Onions, Lentils, Sugar, Green peas,
Cumming seeds etc.
Import & Countries
India, Pakistan, China
No
of Employees
11
Customer
Types
End Users
·
Financial Data
The concern has declined to provide
information on its finances without knowing the details of the end user of this
report.
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
·
Trade
references
The subject concern declined
to provide 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 concern 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.51.62 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.