|
Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JEEAR |
|
|
|
|
Registered Office : |
# 44, 4th Cross
Street, Colombo 11 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Proprietorship Company (In Operation) |
|
|
|
|
Line of Business : |
Importers & Distributors Food Items |
|
|
|
|
No. of Employees : |
Approx. 05 |
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 : |
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 – 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 |
|
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
- Basic information at a glance
|
a. |
Name of Subject of Inquiry |
: |
JEEAR
|
|
b. |
Legal Form & Status |
: |
PROPRIETORSHIP Company (In Operation) |
|
c. |
Managing Proprietor |
: |
Gnanasambanthan
Rajendren |
|
d. |
Primary Line of Business |
: |
Importers & Distributors Food Items |
|
e. |
Office & Places of Business |
: |
# 44, 4th Cross Street, Colombo 11. Sri
Lanka Tel.
No: (00 94 11) 239 2439 Fax
No: (00 94 11) 239 3339 E-mail : gnanam@sltnet.lk |
|
f. |
No. of
Employees |
: |
Approx.
05 |
|
a. |
Registration No |
: |
Not Disclosed |
|
|
b. |
Year of Registration |
: |
Not Disclosed |
|
|
c. |
Registered Address |
: |
# 44, 4th Cross Street, Colombo
11. Sri
Lanka |
|
|
d. |
Proprietor |
: |
Gnanasambanthan Rajendren |
Managing
Proprietor |
|
e. |
Auditors |
: |
G & B
Associates |
|
|
f. |
Bankers |
: |
Bank of Ceylon,
Nations Trust Bank, Sampath Bank |
|
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 are not required to make public disclosure of their annual
financials. Therefore no financials are available for this entity
·
History:
The subject
company, JEEAR is PROPRIETORSHIP Company in operation. The proprietor declined to provide details
of company registration as they have already provided it to their client.
The Proprietorship/Partnership Companies are
registered at the Provincial Registrar of Companies and as the management
declined to provide registration details it is not possible to trace company
details at the Registrar’s office.
·
Location.
The subject is located at the
client # 44, 4th Cross Street, Colombo 11.
a prominent business area in
the Colombo city.
The client given telephone
number +94-11-2449255 is of an associate company of the subject
named, “Gnanam Imports (Pvt)
Ltd.
·
Operational Details.
General
The subject company primary
line of business is Import & distribution of Food Items Basmati Rice.
Products
Rice (Basmati)
·
Import & Countries
India
No of Employees
Approx. 05
·
Financial Data
The company has
declined to provide information on its finances.
Based on the corporate laws of
Sri Lanka, legal entities which are Private Companies with
Limited Liability are 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 or any
other company 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.54.65 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
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.