|
Report Date : |
23.01.2013 |
|
|
|
|
Tel No.: |
0094 777827631 |
IDENTIFICATION DETAILS
|
Name : |
VINERS COMMODITIES (PVT) LTD |
|
|
|
|
Registered Office : |
# 130, 2/2, Golden Plaza, Main Street, Colombo 11 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
Date not yet assigned. Only the company name has been approved by the
ROC. |
|
|
|
|
Com. Reg. No.: |
Number not yet assigned. Only the company name has been approved by
the ROC. |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Import & Distributors of Foodstuff |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to Commence Its Operation |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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, 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 |
|
a. |
Name of Subject of Inquiry |
: |
VINERS
COMMODITIES (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited
Liability Company |
|
c. |
Managing Director/ CEO |
: |
Asok Kumar |
|
d. |
Primary Line of Business |
: |
Import &
Distributors of Foodstuff |
|
e. |
Head office & Place of Business |
: |
# 130, 2/2, Golden Plaza, Main Street, Colombo 11, Sri Lanka. Tel. No: (00 94 77) 782 7631 (Mr. Asok Kumar) E-mail: vinerspvtltd@gmail.com |
|
f. |
No. of Employees |
: |
Not Disclosed |
|
a. |
Registration No |
: |
Number not yet
assigned. Only the company name has been approved by the ROC. |
||
|
Date of Registration |
|
Date not yet
assigned. Only the company name has been approved by the ROC. |
|||
|
c. |
Registered Office |
: |
# 130, 2/2, Golden Plaza,Main Street,Colombo 11, Sri Lanka. |
||
|
d. |
Director |
: |
Asok Kumar |
Managing Director/ CEO |
|
|
e. |
Issued Share Capital |
: |
Not Disclosed |
||
|
f. |
Nominal Value of Share |
: |
Not Disclosed |
||
|
g. |
Share Holders |
: |
Share Holders |
No. of Shares |
|
|
Not Disclosed |
|||||
|
h. |
Auditors |
: |
Not Disclosed |
||
|
i. |
Company Secretaries |
: |
Not Disclosed |
||
|
k. |
Bankers |
: |
Not Disclosed |
||
THE FINANCIAL DETAILS NOT AVAILABLE.
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:
When the Chairman of the subject company was
contact he informed that the Subject Company VINERS COMMODITIES (PVT) LTD is a Private Limited Liability Company of which only the Company name VINERS COMMODITIES (PVT) LTD has been approved by the Registrar of
Companies (ROC)and still the Company registration number and registration date
not assigned by the ROC.
As such, details
of Directors, shareholders, share capital etc. not available.
Business
operations not yet commenced as yet.
Location
The subject company is located at client given address # 130, 2/2, Golden
Plaza, Main Street, Colombo 11, Sri Lanka
Operational
Details
General
The subject company primary line of business is to be Import & Distributors of Foodstuff
Products
Potatoes, Onions
Country
India, Pakistan
Employees
Not Disclosed
Financial Data
No financial details available as the company not commenced its
operations.
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 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.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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 |
|
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.