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Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NEW BENSON TRADING (PVT) LTD |
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Registered Office : |
#.184, Bankshall Street, Colombo-11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
27.05.2009 |
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Com. Reg. No.: |
PV 67913 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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Line of Business : |
Import, Export and distribute of Food
Commodities |
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No. of Employees : |
Approximately 200 |
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 – 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 |
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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
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 |
: |
NEW BENSON TRADING (PVT) LTD |
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b. |
Legal Form & Status |
: |
Private Limited Liability
Company (In Operation) |
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c. |
Managing Director |
: |
J. M. Jesanco
Coonghe |
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d. |
Primary Line of Business |
: |
Import, Export and distribute of Food Commodities |
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e. |
Place of Business |
: |
# 184-186,
Bankshall Street, Colombo – 11, Sri Lanka. Tel. No: (00 94 11) 233 2475
/247 2193 Fax No: (00 94 11) 247 2074 E-mail: benson.trading@yahoo.com |
|
g. |
No. of Employees |
: |
Approximately
200 |
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a. |
Registration No |
: |
PV 67913 |
||
|
b. |
Date of Registration |
: |
27th
May 2009 |
||
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c. |
Registered Office |
: |
#.184, Bankshall
Street, Colombo-11, Sri Lanka. |
||
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d. |
Board of Directors As At 31st December 2012 |
: |
J. M. Jesanco
Coonghe |
Managing Director |
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|
J. J. Jerry
Coonghe |
Director |
||||
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e. |
Issued Share Capital |
: |
Rs 20.00 |
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f. |
Nominal Value of Share |
: |
Rs 10.00 |
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g. |
Share
Holders As At 31st December 2012 |
: |
Share Holders |
No. of Shares |
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J. M. Jesanco
Coonghe |
01 |
||||
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J. J. Jerry
Coonghe |
01 |
||||
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h. |
Auditors |
: |
Management
Accounts |
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i. |
Company Secretaries |
: |
Corporate
Management Systems (Pvt) Ltd |
||
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j. |
Bankers |
: |
DFCC Bank, Union
Bank, HNB Plc, Commercial Bank PLC, Seylan Bank PLC, Bank of Ceylon, Nations
Trust Bank |
||
01)
|
Name |
J. M. Jesanco
Coonghe |
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ID Number |
630512328 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
20th February 1963 |
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Age |
49 Years |
02)
|
Name |
J. J. Jerry
Coonghe |
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ID Number |
750460739 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
15th February 1975 |
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Age |
37 Years |
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 is NEW BENSON TRADING (PVT) LTD is a Private Limited Liability Company incorporated on 27th May 2009 under registration number PV 67913.
Location.
The Subject Company is located at the client
# 184-186, Bankshall Street, Colombo –
11.
General
The subject company primary line of business
is Import, Export and distribute of Food Commodities
The subject company from 2010 to
2012, the export number of the first three suppliers
Countries accounted for 100.00% of
the total import number of New Benson Trading PVT.
LTD. The top supplier
Countries are Canada (100 %).
Products
Lentils, Red Split Lentil, Beans,
Soybeans…etc
Import
Countries
India, China, Taiwan, Australia, Pakistan,
Canada
No
of Employees
Approximately 200
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
Not Available
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.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 |
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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 |
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<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.