MIRA INFORM REPORT
|
Report Date : |
15.03.2013 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No trace |
|
|
|
|
Payment
Behaviour : |
--- |
|
|
|
|
Litigation : |
--- |
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 |
Basic information at a glance
|
Name of Subject of Inquiry |
: |
V C
IMPORTERS.
(Company
not found at the client given address and also not registered at the ROC)
|
|
Legal Form & Status |
: |
Proprietorship or partnership Company |
|
Managing Proprietor |
: |
Not Available. Company not found at the client
given address |
|
Primary Line of Business |
: |
Not Available |
|
Office & Places of Business (as given by the client) |
: |
# 48, Oil Moor Street, Colombo 12. Sri
Lanka Tel.
No: (00 94 11) Not available. Not listed in directory |
|
No. of
Employees |
: |
Not
disclosed- company not located at the given address |
|
Registration No |
: |
Not Available. Not registered at the ROC |
|
|
Date of Registration |
: |
Not Disclosed. Not registered
at the ROC |
|
|
Registered Address |
: |
# 48, Old Moor Street, Colombo 12. Sri
Lanka |
|
|
Proprietor |
: |
Not disclosed |
Managing
Proprietor |
|
Auditors |
: |
Not Disclosed |
|
|
Bankers |
: |
Not Disclosed |
|
Most recent available
Financial Information
THE COMPANY NOT FOUND AT THE GIVEN ADDRESS
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, V C IMPORTERS is not registered with the Registrar of
Companies. Therefore, it could be either a Partnership or Proprietorship
Company in operation.
Our investigators
visited the client given address and the subject not found at the client given
address #48, Old Moor Street, Colombo 12, whereas the said premises is used by
another company named “Kandy Trade Centre” as its stores and they claimed it
belongs to them. Our investigators spend lot of time to trace the subject but
not found any where in the vicinity and the neighbouring businessmen have no
idea of such a company in existence there.
This subject is
not either listed in any of the telephone directories and therefore even a
contact number untraceable.
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
company is not located at the client
given address #48, Old Moor Street,
Colombo 12. It is being occupied by another Company named Kandy Trade Centre,
who claimed that it is theirs. This company is not listed in the telephone
directory.
·
Operational
Details.
General
Our investigator visited the client given
address and found it to be the stores of the company named Kandy Trade Centre.
Its Manager unaware of the subject company V C IMPORTERS being there.
Therefore, it can be concluded that the subject is not in operation.
Products
Not disclosed. Subject not found at the given address.
·
Import & Countries
Not disclosed
No of Employees
Not
disclosed
·
Financial Data
The company not
found at the given address.
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
·
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.
Important Note:
Kindly provide us with additional information such as Correct Name,
Address, Contact Details, Name of Contact Person or a copy of the Upper Part of
Letterhead within 15 days of receiving this report, a would be sent without any
additional cost.
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.