|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NARATHA AGRO INDUSTRIES LANKA (PVT) LTD |
|
|
|
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Registered Office : |
# 400, Nugape, Uswetakeyawa |
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|
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Country : |
Sri Lanka |
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Date of Incorporation : |
26.05.2008 |
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Com. Reg. No.: |
PV 64011 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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|
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Line of Business : |
Industrial domestic market of coconut oil, palm
oil and its Fractions. |
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|
|
|
No. of Employees : |
Not Available |
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 : |
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 |
: |
NARATHA AGRO INDUSTRIES LANKA (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited
Liability Company (In Operation) |
|
c. |
Managing Director |
: |
N. M. Manjula
Narayana |
|
d. |
Primary Line of Business |
: |
Industrial domestic market of coconut oil, palm oil and its Fractions. |
|
e. |
Place of Business |
: |
# 400, Nugape, Uswetakeyawa, Sri Lanka Tel. No: (00 94 11) 257 7504 /5 Fax No: (00 94 11) 483 1268, 483 1267,257 7506 E-mail: nagro@nmk.lk |
|
g. |
No. of Employees |
: |
Not Disclosed |
|
a. |
Registration No |
: |
PV 64011 |
||
|
Date of Registration |
: |
26th
May 2008 |
|||
|
c. |
Registered Office |
: |
# 400, Nugape
Uswetakeyawa, Sri Lanka. |
||
|
d. |
Board of Directors As At 14th July 2010 |
: |
N. M. Manjula
Narayana |
Managing Director |
|
|
P. Gamini
Bandara |
Director |
||||
|
Cheranika
Nilakshi Narayana |
Director |
||||
|
e. |
Issued Share Capital |
: |
Rs 10.00 |
||
|
f. |
Nominal Value of Share |
: |
Rs 10.00 |
||
|
g. |
Share Holders As At 14th July 2010 |
: |
Major Share Holders |
No. of Shares |
|
|
N. M. Manjula Narayana |
01 |
||||
|
h. |
Auditors |
: |
Wickramasinghe
Dayananda And Company |
||
|
i. |
Company Secretaries |
: |
Varners
International (Pvt) Ltd |
||
|
j. |
Bankers |
: |
Not Disclosed |
||
01)
|
Name |
N. M. Manjula
Narayana |
|
ID Number |
632442122 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
31st
August 1963 |
|
Age |
50 Years |
02)
|
Name |
Cheranika
Nilakshi Narayana |
|
ID Number |
707893877 V |
|
Nationality |
Sri Lankan |
|
Gender |
Female |
|
Date of Birth |
15th
October 1970 |
|
Age |
42 years |
03)
|
Name |
P. Gamani
Bandara |
|
ID Number |
551400867 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
19th May 1955 |
|
Age |
58 years |
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 is NARATHA
AGRO INDUSTRIES LANKA (PVT) LTD is a Private Limited Liability Company incorporated on 26th May 2008 under registration number PV 64011.
Naratha Agro
Industries Lanka Private Limited Subsidiary Company of Naratha Agro
Industries Private Limited
Location
The Subject Company is located at the client # 400, Nugape Uswetakeyawa
Operational Details
General
The subject company primary line of business
is Industrial domestic market of coconut oil, palm oil and its Fractions.
Products
Coconut oil, palm
oil and its Fractions
No
of Employees
Not Disclosed
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
Not Available
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.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.