MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
CHATLINE INTERNATIONAL (PVT) LTD |
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Registered Office : |
#A-7-30/3-1/1, Church Street, Colombo 02 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
22.03.2013 |
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Com. Reg. No.: |
PV 91675 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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Line of Business : |
Not Available |
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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 : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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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
|
a. |
Name of Subject of Inquiry |
: |
CHATLINE INTERNATIONAL (PVT) LTD |
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b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing
Director |
: |
Mohamed Rafeek Firdous |
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d. |
Primary Line of Business |
: |
Not Disclosed |
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e. |
Head Office & Place of
Business |
: |
#
A-7- 30/3 -1/1, Church Street, Colombo
02, Sri
Lanka Tel. No: (00 94 11) Not Disclosed/Available Fax
No: (00 94 11) Not Disclosed/Available |
|
g. |
No. of Employees |
: |
Not Disclosed/Available |
Registration and
Shareholder Details
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a. |
Registration No |
: |
PV 91675 |
||
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Date of Registration |
: |
22nd March 2013 |
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b. |
Registered Office |
: |
# A-7- 30/3 -1/1, Church Street, |
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c. |
Board of Directors As At 22nd March 2013 |
: |
Mohamed Rafeek
Firdous |
Managing Director |
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d. |
Issued Share Capital |
: |
Rs.10.00 |
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e. |
Nominal Value of Share |
: |
Rs.10.00 |
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f. |
Share Holders As At 22nd March 2013 |
: |
Share Holders |
No Of Shares Held |
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Mohamed Rafeek
Firdous |
01 |
||||
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g. |
Auditors |
: |
Not disclosed |
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h. |
Company Secretaries |
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Mohamed Niyas Mohamed Asath |
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i. |
Bankers |
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Not
Disclosed- |
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Most recent available
Financial Information
The subject company has been registered just 2 months ago and no
financials available.
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 CHATLINE
INTERNATIONAL (PVT) LTD is a Private Limited Liability Company
incorporated on 22nd March 2013 under registration number PV 91675.
·
Location.
The client of the subject company is # A-7- 30/3 -1/1, Church Street,
Colombo 02. Since the company has been registered just 2 two months back.
The subject company has also not been listed in any of the telephone
directories and as Such no contact number is available.
Client given telephone number (000077778197) is incorrect number.
·
Operational
Details.
General
The details of the primary line of business of the subject company is
not disclosed as yet
Products
Details not available.
No of Employees
Not Disclosed
·
Director’s
Details
01)
|
Name |
Mohamed Rafeek Firdous |
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ID Number |
762890607 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
15th October 1976 |
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Age |
36 Years |
·
Financial
Data
The subject company has been registered just 2 months ago and no
financials available.
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.
·
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.54.04 |
|
|
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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-- |
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.