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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SAKURA TRADING (PVT) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.03.2012 |
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Com. Reg. No.: |
PV 85083 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and
Dealers of Textiles and Garments |
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No. of Employees : |
Not Available |
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 : |
No Complaints |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
|
Name of Subject of Inquiry |
: |
SAKURA TRADING
(PVT) LTD |
|
Legal
Form & Status |
: |
Private Limited Liability Company (In
Operation ) |
|
Director |
: |
Abdul
Sattar Mohamed Aslam |
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Primary Line of Business |
: |
Importers
and Dealers Of Textiles and Garments. |
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Head office & Place of
Business |
: |
# 159/1 , Keyzer Street, Colombo – 11, Sri Lanka. Tel No: (00 94 11) 247 2132 Mob. No: (00 94 77) 730 6330 E-mail : jubileeasl@yahoo.com |
|
No. of Employees |
: |
Not Disclosed |
|
: |
PV 85083 |
|||
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Date of Registration |
: |
22nd March 2012 |
||
|
Registered Office |
: |
# 159/1
, Keyzer Street, Colombo – 11. |
||
|
Board of Directors As
At 22nd March 2012 |
: |
Abdul Sattar Mohamed Aslam |
Director |
|
|
Riznaaz Praveen Aslam |
Director |
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Mohamed Sajid |
Director |
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|
Mohamed Adil Aslam |
Director |
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Issued Share Capital |
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Rs.
40.00 |
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Nominal Value of Share |
: |
Rs.
10.00 |
||
|
Share Holders As At 22nd March 2012 |
: |
Share Holders |
Shares
|
|
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Abdul
Sattar Mohamed Aslam |
01 |
|||
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Riznaaz
Praveen Aslam |
01 |
|||
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Mohamed
Sajid |
01 |
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Mohamed
Adil Aslam |
01 |
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Auditors |
: |
Not
Disclosed |
||
|
Company Secretaries |
: |
Velu
Rajadurai |
||
|
Bankers |
: |
Not
Disclosed |
||
01)
|
Name |
Abdul
Sattar Mohamed Aslam |
|
Nationality |
Sri Lankan |
|
ID Number |
671900812 V |
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Age |
46 Years |
|
Gender |
Male |
|
Date Of Birth |
08th July 1967 |
02)
|
Name |
Riznaaz
Praveen Aslam |
|
Nationality |
Sri Lankan |
|
ID Number |
717392973 V |
|
Age |
42Years |
|
Gender |
Female |
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Date Of Birth |
26th August 1971 |
03)
|
Name |
Mohamed
Sajid |
|
Nationality |
Sri Lankan |
|
ID Number |
900650027 V |
|
Age |
23 Years |
|
Gender |
Male |
|
Date Of Birth |
5th March 1990 |
04)
|
Name |
Mohamed
Adil Aslam |
|
Nationality |
Sri Lankan |
|
ID Number |
940774233 V |
|
Age |
19 Years |
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Gender |
Male |
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Date Of Birth |
17th March 1994 |
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, SAKURA TRADING (PVT) LTD is a Private Limited
liability Company initially incorporated on 22nd March 2012 under registration number PV 85083 in terms of Companies Act #7 of
2007.
·
Location.
The subject
company client # 159/ 1,
Operational Details.
General
The subject company primary line of business is Importers and Dealers
of Textiles and Garments.
Products:
Textiles
Country
India
No of Employees
Not Disclosed
·
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.58.91 |
|
UK Pound |
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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.