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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CASUAL CLASSICS (PVT) LTD |
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Registered Office : |
# 55, Dutugemunu Mawatha, Peliyagoda |
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Country : |
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Date of Incorporation : |
03.10.2007 |
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Com. Reg. No.: |
PV 61585 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Exporters of all kinds of garments |
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No. of Employees : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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) |
|
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 |
Basic information
at a glance
|
Name of Subject of Inquiry |
: |
CASUAL CLASSICS (PVT) LTD
|
|
Legal
Form & Status |
: |
Private Limited Liability Company (In Operation) |
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Managing
Director |
: |
Suthesamithiran Krishnakanthan |
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Primary Line of Business |
: |
Manufacturers,
Exporters of all kinds of garments. |
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Head
office & Factory |
: |
#
14/5, Dutugemunu Mawatha, Peliyagoda, Sri Lanka. Tel No: (00 94 ) 294 3115 / 293 1718 Fax No: (00 94 ) 2 949 556 |
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No. of Employees |
: |
Not Disclosed |
|
: |
PV 61585 |
||
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Date of Registration |
: |
03rd October 2007 |
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Registered Office |
: |
# 55, Dutugemunu Mawatha, Peliyagoda |
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Board of Directors As at
14th September 2012 |
|
Suthesamithiran
kirishnakanthan |
Managing Director |
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Suthesamiran
Krismakumar |
Director |
||
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Issued Share Capital |
: |
Rs. 20.00 |
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Nominal Value of Share |
: |
Rs. 10.00 |
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Share
Holders As At 14th September 2012 |
: |
Share Holders |
No. of Shares |
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Suthesamithiran
kirishnakanthan |
01 |
||
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Suthesamiran
Krismakumar |
01 |
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Secretaries |
: |
G R S Management and Secretarial Services
(Pvt) Ltd |
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Auditors |
: |
K.K. Gunanenthiran Associates |
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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.
·
History.
The Subject Company CASUAL CLASSICS (PVT) LTD is a Private
Limited liability Company
incorporated in 03rd October
2007 under registration number PV 61585.
The subject company is a subsidiary of CLUB TEX MARK (PVT) LTD
.
·
Location.
The Subject Company is located
at address and client # 14/5, Dutugemunu
Mawatha, Peliyagoda .
·
Operational
Details.
General
The subject company primary
line of business is Manufacturers, Exporters of all kinds of garments
Products
Blouses, Skirts,
Jackets, shirts, Trousers,lingerrie
Employees
Not Disclosed
Director’s Details
01)
|
Name |
Suthesamithiran
kirishnakanthan |
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ID
Number |
762490455
V |
|
Nationality |
Sri
Lankan |
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Gender |
Male
|
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Date
of Birth |
05th
September 1976 |
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Age |
36
Years |
02)
|
Name |
S.
Krisma Kumar |
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ID
Number |
791933358
V |
|
Nationality |
Sri
Lankan |
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Gender |
Male
|
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Date
of Birth |
11th
July 1979 |
|
Age |
33
Years |
·
Financial Data
The Subject
Company declined to provide 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
·
Trade references
The subject
company did not provide any trade reference
·
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.54.88 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
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 |
|
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 |
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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 |
|
<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.