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Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAVA ASIAN TRADING COMPANY |
|
|
|
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Registered Office : |
#35A,
Abdul Jabbar Mawatha, Colombo 12 |
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|
|
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Country : |
Sri Lanka |
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Date of Incorporation : |
1989 |
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Legal Form : |
Proprietorship Company |
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|
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Line of Business : |
Trader, Import & distributors of all
kinds Hardware. |
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|
|
|
No. of Employees : |
06 |
RATING & COMMENTS
|
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 : |
Slow |
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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 (31.03.2012) |
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 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 |
: |
NAVA
ASIAN TRADING COMPANY
|
|
Legal Form & Status |
: |
Proprietorship Company (In Operation) |
|
Managing PROPERIETOR |
: |
V.K. Bala Subramaniam Mobile No: (0094) 773022526 |
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Primary Line of Business |
: |
Importers & Distributor of Hardware |
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Office & Places of Business |
: |
# 35A, Abdul Jabbar Mawatha, Colombo
12. Sri
Lanka. Tel.
No: (00 94 11) 244 7210 Fax
No: (00 94 11) 234 5874 Email:
navaassian@sltnet.lk |
|
No. of
Employees |
: |
Approximately
06 |
Registration and Shareholder Details
|
Registration No |
: |
Not Disclosed |
|
|
Year of Registration |
: |
Not Disclosed |
|
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Registered Address |
: |
#35A, Abdul Jabbar Mawatha, Colombo 12.. Sri Lanka. |
|
|
Proprietor |
: |
V.K. Bala Subramaniam |
Managing
Proprietor |
|
Auditors |
: |
Not Disclosed |
|
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Bankers |
: |
HDFC 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 NAVA ASIAN TRADING COMPANY is Proprietorship Company in operation. The proprietor did not provide
registration details in spite of repeated requests as he wanted to know the
details of the end user of this report.
The Proprietorship/Partnership Companies are
registered at the Provincial Registrar of Companies and when the management
decline to provide registration details it is not possible to trace company
details at the Registrar’s office.
·
Location.
The Subject Company is
located at The client # 35, Abdul Jabbar Mawatha,
Colombo 12, an area where
hardware dealers are in operation.
The
subject company is having an associate company named “ASIAN TRADING
COMPANY”.
·
Operational
Details.
General
The subject company primary
line of business is Import & distributors of all kinds
Hardware.
Products
GI pipes, Tubes, Stainless
Steele Sheets, MS Plates, galvanized sheets,
etc.Aluminium sheets
·
Import & Countries
China, India,
Pakistan
No of Employees
Approximately 05
·
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
·
General Comments
The subject company when contacted declined to disclose any financial
information; However all other information received is from the company.
·
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
|
1 |
Rs.81.56 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.