|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAVICO TRADERS |
|
|
|
|
Registered Office : |
# 189 Keyzer Street, Colombo
11. |
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|
|
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Country : |
Sri Lanka |
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|
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Date of Incorporation : |
11.12.1986 |
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|
|
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Com. Reg. No.: |
W 26810 |
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|
|
|
Legal Form : |
Partnership Company (In
Operation) |
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|
|
|
Line of Business : |
Importers , Whole sale Dealers & Distributors of Food Items &
Commission Agents |
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|
|
|
No. of Employees : |
Approx. 08 |
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 : |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
following the end of the 26-year conflict with the Liberation Tigers of Tamil
Eelam (LTTE). The government has been pursuing large-scale reconstruction and
development projects in its efforts to spur growth in war-torn and
disadvantaged areas, develop small and medium enterprises and increase
agricultural productivity. The government's high debt payments and bloated
civil service have contributed to historically high budget deficits, but fiscal
consolidation efforts and strong GDP growth in recent years have helped bring
down the government's fiscal deficit. However, low tax revenues are a major
concern. 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 with the end of the war and
an IMF agreement, resulting in two straight years of 8% growth in 2010-11.
Growth moderated to about 6% in 2012. Agriculture slowed due to a drought and
weak global demand affected exports and trade. In early 2012, Sri Lanka floated
the rupee, resulting in a sharp depreciation, and took steps to curb imports. A
large trade deficit remains a concern. Strong remittances from Sri Lankan
workers abroad have helped to offset the trade deficit.
|
Source
: CIA |
|
a. |
Name of Subject of Inquiry |
: |
KAVICO
TRADERS |
|
b. |
Legal Form & Status |
: |
Partnership
Company (In Operation) |
|
c. |
Managing Partner |
: |
R. Masheswaran |
|
d. |
Primary Line of Business |
: |
Importers ,
Whole sale Dealers & Distributors of Food Items & Commission Agents |
|
e. |
Office & Place of Business |
: |
# 189 Keyzer
Street, Colombo 11. Sri Lanka Tel No: (00 94
11) 233 1620 Mob. No: (00 94
77) 748 5166 |
|
f. |
No. of Employees |
: |
Approx. 08 |
|
a. |
Registration No |
: |
W 26810 |
|
|
b. |
Date of Registration |
: |
11th
December. 1986 |
|
|
c. |
Registered Office |
: |
# 189, Keyzer Street,
Colombo 11. Sri Lanka |
|
|
d. |
Partners |
: |
R. Maheshwaran |
Managing Partner |
|
Karupaiah
Kanapathy |
Partner |
|||
|
e. |
Auditors |
: |
Manohara & Sangakkara |
|
|
f. |
Company Secretaries |
: |
Not applicable |
|
|
g. |
Bankers |
: |
Bank of Ceylon,
HSBC Bank, Hatton National Bank |
|
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 are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity.
HISTORY:
The Subject Company KAVICO TRADERS is a Partnership Company registered on 11th December,
1986 under registration no. W 26810 and is in operation as an
importing & trading organisation.
The
Proprietorship/Partnership companies are being registered at the Provincial
Registrar of Companies
Location:
The subject company is located at the client # 189.Keyzer Street, Colombo 11. Sri Lanka, the premier business
area in Colombo city.
General:
The subject
company’ primary line of business is Importing
and distribution of food items for domestic use and servicing as a Commission
Agent.
Products
All kind of food items such as: Potatoes, Onions, Garlic, Chillies, Green
Gram etc
Importing
Countries
India, China, Pakistan, Australia
Employees
Approx. 08 employees.
The Company has declined to
provide information on its Finances.
Based on the corporate laws of Sri Lanka, legal entities which are
Private Companies with
Limited Liability is not required to make public disclosure of their
annual financials.
Therefore no financials are available for this entity
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 promoters 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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.