MIRA INFORM REPORT

 

 

Report Date :

27.12.2013

 

IDENTIFICATION DETAILS

 

Name :

C.T.R. INTERNATIONAL (PVT) LTD

 

 

Registered Office :

# D 1-1, Special Economic Center, Dambulla.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

22.07.2010

 

 

Com. Reg. No.:

PV 73341

 

 

Legal Form :

Private Limited Liability Company (In operation)

 

 

Line of Business :

Importer and Wholesaler of All kinds of food items.

 

 

No. of Employees :

Approximately 05

 

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

 

 

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

 

GENERAL

 

Basic information at a glance   

 

a.

Name of Subject of Inquiry

:

C.T.R. INTERNATIONAL (PVT) LTD

 

b.

Legal Form  & Status

:

Private Limited Liability Company (In operation)

c.

Managing Director

 :

C. A. Siriwardena

d.

Primary Line of Business

:

Importer and Wholesaler of All kinds of food items.

e.

Place of Business

:

 # D 1-1, Special Economic Center,

Dambulla.

Sri Lanka.

 

Tel  No: (00 94 66) 300 4093, 567 0205

Fax No: (00 94 66) 228 4207 

Mobile: (00 94 77) 326 0893

 

 

 

g.

No. of Employees

:

Approximately 05

           

 

COMPANY DETAILS 

 

Registration and Shareholder Details

 

a.

Registration No

:

PV 73341

b.

Year of Registration

 

22nd July, 2010

c.

Registered Office

:

# D1-1, Special Economic Center, Dambulla. Sri Lanka.

d.

Board Of Directors

As at

06th September 2012

:

C. Abeysingha Siriwardena

Managing Director

M. Lakshmi Liyanarachchi (Ms)

Director

e.

Issued Share Capital

:

Rs.    20.00

f.

Nominal Value of Share

:

Rs.    10.00

g.

Share Holders

As At

06th September 2012

:

 Share Holders

 No Shares

C. Abeysingha Siriwardena

01

M. Lakshmi Liyanarachchi (Ms)

01

h.

Secretaries

:

M G C P Accounting Solutions (Pvt) Ltd

j.

Auditors

:

TN Associates

k.

Banks

:

DFCC Vardhana Bank

 

Directors Details

 

01)

Name

C. Abeysingha Siriwardena

ID Number

671660072 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

14th June 1967

Age

46 Years

 

02)

Name

M. Lakshmi Liyanarachchi (Ms)

ID Number

776283657V

Nationality

Sri Lankan

Gender

Female

Date of Birth

7th May 1976

Age

36 Years

 

 

FINANCIAL DETAILS

 

Most recent available 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

 

 

CURRENT INVESTIGATION                      

 

History.

 

The Subject Company C.T.R. INTERNATIONAL (PVT) LTD is a Private Limited liability Company incorporated on 22nd July 2010 under registration number PV 73341.

 

Location.

 

The Subject Company is located at the client #D1-1, Special Economic Center, Dambulla Sri Lanka, , a town in the North Western Province, approx. 150 kilo meters from Colombo. The business place is located in the highly commercialised centre.

 

 

Operational Details.

 

General

The subject company primary line of business is Importer and Wholesaler of All type of food items.

         

Products

Food Items such as Lentils, potatoes, Onions, garlic, Rice (Basmati) etc.

 

Country

India, Pakistan

 

No of Employees

Approximately 05

 

Financial Data

 

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

 

 

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.61.98

UK Pound

1

Rs.101.49

Euro

1

Rs.84.79

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.