MIRA
INFORM REPORT
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Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
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Name : |
SRI RAMO TRADERS |
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Registered Office : |
#214, Prince Street, Colombo 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Partnership Concern
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Line of Business : |
· General Merchants, Importers & Distributors of Food items of all kinds of food items such as rice, lentils, potatoes, onions, canned foods, dried fish, sugar Indenting & Commission Agents |
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No. of Employees : |
Approx. 05 |
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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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.
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Source : CIA |
GENERAL
Basic information at a glance
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Name of Subject of Inquiry |
: |
SRI RAMO TRADERS
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Legal
Form & Status |
: |
Partnership Concern (in operation) |
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Managing Partner |
: |
K.
Ramesh |
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Primary Line of Business |
: |
General Merchants,
Importers & Distributors of Food items, and Commission Agents &
Indenting Agent |
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Office & Place of Business |
: |
# 214, Prince Street, Colombo 11. Sri Lanka. Tel./Fax No: (00 94 11) 438 0218, 438 0219 Mobile: (00 94 77) 394 3302- Mr.
K. Ramesh Email: sriramo-rk@yahoo.com |
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No. of Employees |
: |
Approx. 05 |
CONCERN DETAILS
Registration and Shareholder Details
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a. |
Registration
No |
: |
- Not Disclosed - |
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b. |
Date of
Registration |
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- Not Disclosed - |
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c. |
Registered
Address |
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#214, Prince Street, Colombo 11 |
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d. |
Partners |
: |
K. Ramesh |
Managing Partner |
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Mohan Raj |
Partner |
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e. |
Auditors |
: |
- Not Disclosed - |
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f. |
Bankers |
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Nations Trust Bank |
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CURRENT INVESTIGATION
History.
The Subject Concern SRI RAMO TRADERS is
Partnership Concern, in operation.
Mr. Ramesh is the Managing Partner of the concern and he
declined to provide details regarding the Concern registration details without
knowing the details of the end user of this enquiry.
The Proprietorship/ Partnership
companies are being registered at the Provincial Registrar of Companies and
when the owner does not provide the registration details it is not possible to
extract such details from the Registrar’s office.
Location.
The office and the place of business are
located at the client # 214, Prince
Street, Colombo 11, one of the main business areas in the city.
Please find below pictures of
the shop/concern with commodities. These were taken with
utmost secrecy as the
shopkeepers do not allow taking photographs.
Operational
Details:
General
The main line of business of the subject concern is import
& distribution of food items. Also they serve as indenting & Commission
Agents.
Products/Services
- All kinds of food items such as rice, lentils, potatoes, onions, canned foods, dried fish, sugar, etc.
- Indenting & Commission Agents
Import Countries
India, China, Thailand
No. of Employees:
Approx.05
Financial Data
Mr K. Ramesh, the
Partner of the subject concern declined to provide information on its
finances without knowing the details of
the end user of this enquiry.
Based on the corporate laws of Sri Lanka, legal entities which are Private Concern 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
did not provide any trade reference referrals.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
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UK Pound |
1 |
Rs.101.37 |
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Euro |
1 |
Rs.84.82 |
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.