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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AKIDHMA INTERNATIONAL (PVT) LTD |
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|
|
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Registered Office : |
# 186/A, Meewaladiniya Handessa, Kandy |
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|
|
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Country : |
Sri Lanka |
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Date of Incorporation : |
20.11.2012 |
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Com. Reg. No.: |
PV 89451 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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|
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Line of Business : |
Manufacturer and
Exporters Of tea spices, coconut products, fresh vegetables, fruits, seafood,
batik fabric, silk fabrics, wall arts, crafts |
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|
|
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
Source
: CIA
|
Name of Subject
of Inquiry |
: |
AKIDHMA
INTERNATIONAL (PVT) LTD |
|
Legal Form
& Status |
: |
Private
Limited Liability Company (In Operation) |
|
Managing Director |
: |
A.J.
Mohammed Ashfaaq |
|
Primary Line of
Business |
: |
Manufacturer and
Exporters Of tea spices, coconut products, fresh vegetables, fruits, seafood,
batik fabric, silk fabrics, wall arts, crafts |
|
Place
of Business |
: |
# 187/B/2, Meewaladeniya Handessa Sri
Lanka. Tel: (00 94 75) 889 8922 Fax: (00 94 81) 231 0042 E-mail:- info@kandyangoods.com |
|
No.
of Employees |
: |
Not
Disclosed |
- Registration
and Shareholder Details
|
Registration No |
: |
PV
89451 |
||
|
Date of Registration |
: |
20th
November 2012 |
||
|
Registered Office |
: |
#
186/A, Meewaladiniya Handessa, Kandy, Sri Lanka. |
||
|
Board of Directors As at 20th November 2012 |
: |
A.J.
Mohamed Ashfaaq |
Managing
Director |
|
|
A.J.
Mohamed Inshaf |
Director |
|||
|
Issued
Share Capital |
: |
Rs.
1,000.00 |
||
|
Nominal Value of Share |
: |
Rs. 10.00 |
||
|
Share Holders As at 20th November 2012 |
: |
Share Holders |
No. Of. Shares |
|
|
A.J.
Mohamed Ashfaaq |
75 |
|||
|
A.J.
Mohamed Inshaf |
25 |
|||
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Auditors |
: |
Not Disclosed |
||
|
Company Secretaries |
: |
Expert
Business Consultants (Pvt) Ltd |
||
|
Bankers |
: |
Not
Disclosed |
||
- 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 AKIDHMA INTERNATIONAL (PVT) LTD is a Private Limited Liability
Company incorporated on 20th November
2012 under registration number PV
89451.
·
Location.
The Subject
Company is located at the client # 187/B/2, Meewaladeniya Handessa, Kandy
·
Operational
Details.
General
The subject company primary
line of business is Manufacturer and Exporters Of tea spices, coconut products,
fresh vegetables, fruits, seafood, batik fabric, silk fabrics, wall arts,
crafts.
Products
Coconut Products, Tea
Products, Spices, Vegetables, Fruits, Seafood’s, Batiks…….etc
Countries
India, China
No of Employees
Not Disclosed
·
Director Details
01)
|
Name |
A.J. Mohamed Ashfaaq |
|
ID Number |
872711970 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
|
Date of Birth |
27th September 1987 |
|
Age |
25 Years |
02)
|
Name |
A.J. Mohamed Inshaf |
|
ID Number |
902250425 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
12th August 1990 |
|
Age |
22 Years |
·
Financial Data
The company has
declined to provide information on its finances
Based on the corporate laws
of Sri Lanka, business 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 referrals
·
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.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.