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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
S.A.H. Trading |
|
|
|
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Registered Office : |
101, 03rd Cross Street, Colombo 11 |
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|
|
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Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
Not Available |
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|
|
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Com. Reg. No.: |
Not Available |
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|
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Legal Form : |
Partnership Company (In Operations) |
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|
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Line of Business : |
Importers, Exporters and Suppliers of Textiles |
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|
|
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No. of Employees : |
Approximately 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 |
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|
|
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Payment Behaviour : |
Unknown |
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|
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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 |
|
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 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
|
a. |
Name of Subject of Inquiry |
: |
S. A. H. TRADING |
|
b. |
Legal Form & Status |
: |
Partnership Company (In Operation) |
|
c. |
Managing Partner |
: |
Sulaiman |
|
d. |
Primary Line of Business |
: |
Importers,
exporters and Suppliers of Textiles |
|
e. |
Head Office & Place of
Business |
: |
#
101, 03rd Cross Street, Colombo
11, Sri
Lanka. Tel.
No: (00 94 11) 243 3458 Fax No: (00 94 11) 233 8101 E-mail:
sahtrading@yahoo.com |
|
f. |
No. of Employees |
: |
Approximately
05 |
|
a. |
Registration No |
: |
Not Disclosed |
||
|
b. |
Date of Registration |
: |
Not disclosed |
||
|
c. |
Registered Office |
: |
# 101, 03rd Cross
Street, |
||
|
d. |
Partners |
: |
Sulaiman |
Managing Partner |
|
|
Sabrina Sulaiman (Ms) |
Partner |
||||
|
e. |
Auditors |
: |
-Not Disclosed- |
||
|
f. |
Bankers |
: |
Not disclosed |
||
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 S.A.H. TRADING is a Partnership Company, in operation.
Partner is the wife of the Managing Partner. Further details not given by the Managing Partner upto date, although he promised earlier.
The Proprietorship companies are being registered at the Provincial Registrar of Companies and when the owner does not provide the registration details it is not possible to extract such details from the Registrar’s office.
·
Location.
The Subject Company is located at the client
# 101, 03rd Cross Street,
Colombo 11, Sri Lanka, one of the prominent business areas in the Colombo city.
.
·
Operations
Details.
General
The subject company primary line of business
is Importers, export and Suppliers of
Textiles.
Products
All kinds of
Textiles – Shirting, Suiting, Sarongs, Sarees etc.
Importing
Countries
India
Employees
Approximately 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 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 provided
limited information to prepare this report and declined to disclose any
financial information.
·
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.54.28 |
|
|
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.