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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SMART GLOBAL |
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Registered Office : |
# 180/1/123, Peoples Park Complex, Colombo- 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
28.06.2010 |
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Com. Reg. No.: |
W/A 88880 |
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Legal Form : |
Partnership Company (In Operation) |
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Line of Business : |
Importers & Distributors Food Items |
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No. of Employees : |
Approximately 10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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
- Basic information at a glance
|
Name of Subject of Inquiry |
: |
SMART
GLOBAL
|
|
Legal Form & Status |
: |
Partnership Company (In Operation) |
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Managing Partner |
: |
G. Rajendran |
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Primary Line of Business |
: |
Importers & Distributors Food Items |
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Office & Place of Business |
: |
# 180/1/123, Peoples Park Complex, Colombo-
11 Sri
Lanka. Tel.
No: (00 94 11) 244 1944 Fax
No: (00 94 11) 239 3339 Email: gnanam@sltnet.lk |
|
No. of
Employees |
: |
Approximately
10 |
|
Registration No |
: |
W/A 88880 |
|
|
Year of Registration |
: |
28th June, 2010 |
|
|
Registered Office |
: |
# 180/1/123, Peoples Park Complex, Colombo- 11 Sri Lanka. |
|
|
Partners |
: |
G. Rajendran |
Managing Partner |
|
R. Salini (Ms) |
Partner |
||
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Auditors |
: |
G & B Associates |
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Bankers |
: |
Bank of Ceylon, Nations Trust Bank, Sampath Bank |
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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, SMART GLOBAL is a
Partnership Company (in operation) registered on 28th June, 2010
under Registration No. W/A 88880 as
Importers & Distributors of food items.
The subject company is an associate company of GNANAM IMPORTS (PVT) LTD,
a
company engage with importing and distribution of food items (wholesale
& retail).
·
Location.
The Subject Company is located at the client # 180/1/123, Peoples
Park
Complex, Colombo-11, Sri
Lanka, which is a highly commercial area where
wholesale/retail Merchants are operating.
·
Operational
Details.
General
The subject company primary
line of business is Import & distribution of all kids of Food Items.
Products
Potatoes, Onions, Lentils, Sugar,
Green peas, Cumming seeds etc.
·
Import & Countries
India, Pakistan,
China
No of Employees
Approximately 10 (Group 100)
·
Financial Data
The company has
declined to provide information on its finances without knowing the details of
the end user of this report.
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
The subject
company declined to provide any trade references
·
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.