MIRA INFORM REPORT

 

 

Report Date :

02.04.2013

 

IDENTIFICATION DETAILS

 

Name :

GOVIYA TRADERS (PVT) LTD

 

 

Registered Office :

# 54, Pickerings Road, Kotahena, Colombo 13

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

02.07.2010

 

 

Com. Reg. No.:

PV 72980

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Import & distribution of motor spare parts

 

 

No. of Employees :

16 Approximately

 

 

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 :

Slow

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)

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

:

GOVIYA TRADERS (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

H.D. Priyankara Kumara

Primary Line of Business

:

Import & distribution of motor spare parts

Head office

&

Place of Business

 

:

 

# 54, Pickerings Road,

Kotahena,

Colombo 13.

Sri Lanka.

 

Tel. No: (00 94 72) 1516858 ( Proyankara Kumara)

               (00 94 72) 3179976 (Taimour Raza)

Email:  Not available

 

No. of Employees

:

16 Approximately

           

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

 PV 72980

Date of Registration

 

2nd July 2010

Registered Office

:

# 54, Pickringsd Road, Kotahena Colombo - 13

Board of Directors

As at

24th October 2011

:

H. D. Priyankara Kumara

Managing Director

R.P. Sriyani Chandrika

Director

Taimour Raza

Director

Ashraf Ali Khan

Director

Issued Share Capital

:

Rs. 20.00

Nominal Value of Share

:

Rs. 10.00                     

 

Share Holders

As at

        24th October 2011

:

Share Holders

No. of

Shares

Patabadige Sriyani Chandrika

01

H. Dilusha Priyankara Kumara

01

Auditors

:

Not Disclosed

Company Secretaries

:

H. D. Priyankara Kumara

Bankers

:

Sampath Bank, Colombo Branch

Customer

:

Wholesaler

Retailers

 

 

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

 

 

Information parted by

GENERAL DETAILS

 

Name               : Mr. Raza

Designation     : Director

Contact            : 009472 – 3179976

Date                 : 01.04.2013

 

 

Current investigation

  

·         History

 

                  The Subject Company GOVIYA TRADERS (PVT) LTD is a Private    Limited   liability Company incorporated on 07th July 2010 under registration number PV 72980.

 

 

 

·         Location.

 

The subject company is located at client # 54, Pickrings Road, Kotahena Colombo 13, which is a dwelling house. When contacted one of the directors of the subject company, Mr. Priyankara Kumara said that theu are  selling spare parts imported from Pakistan. Two of the Directors are Pakistanis. However, our investigator could not see any products at the given address and the inmates declined to divulge information wothout knowing the end user of theenquiry.

 

We had spend a considerable time to locate this subject and obtain information as it is not a well established company.

 

·         Operational Details.

General

 

            The subject company primary line of business is as told by a Director, Mr. Priyankara Kumara, is import and sae of Motor spare parts.

 

            Products & Service

 Motor spare parts – mirrors, lamps, etc.

          

Country

                   Pakistan

 

Employees

                  16 Approximately.

 

Trading Terms

                                                         Purchasing: Cash, Credit

                                                            Selling: Cash, Credit

 

 

·         Directors Details

01)

Name

R. Patabadige Sriyani Chandrika

ID Number

606981503 V

Nationality

Sri Lankan

Gender

Female

Date Of Birth

16th July 1960

Age

53 Years

      

 

 

           02)

Name

H. Dilusha Priyankara Kumara

ID Number

871252742 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

4th May 1987

Age

26 Years

       

           03)

Name

Taimour Raza

PP Number

B M 9899201

Gender

Male

Nationality

Pakistani

         04)

Name

Ashraf Ali Khan

PP Number

US 4107721

Gender

Male

Nationality

Pakistani

 

·         Financial Data

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

 

·         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.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.39

UK Pound

1

Rs.82.32

Euro

1

Rs.69.54

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.