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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
GALLOPS TRADING (PVT) LTD |
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Registered Office : |
# 615, Hendala Road, Wattala |
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Country : |
Sri Lanka |
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Date of Incorporation : |
11.04.2011 |
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Com. Reg. No.: |
PV 78331 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer & Exporter of Paper Products including Scrap Papers & Paper Boards |
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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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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. 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. 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, but strong
remittances from Sri Lankan workers abroad help offset the trade deficit.
Government debt of about 80% of GDP remains among the highest in emerging
markets.
|
Source : CIA |
|
Name of Subject of Inquiry |
: |
GALLOPS TRADING (PVT)
LTD
|
|
Legal Form & Status |
: |
Private Limited Liability Company (In operation) |
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Managing
Director |
: |
Christopher David Kumar |
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Primary Line of
Business |
: |
Import
& Export of Paper Products |
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Head Office
&
Place Of Business
|
: |
#
615, Hendala Road, Wattala, Sri Lanka. Tel. No: (00 94 11) 298 0487 Fax No: (00 94 11) 481 3328 E Mail: gallos@sltnet.lk |
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No. of Employees |
: |
Not Disclosed |
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Registration No |
: |
PV 78331 |
||
|
Date of Registration |
: |
11th
April 2011 |
||
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Registered Address |
: |
#
615, Hendala Road, Wattala |
||
|
Board of Directors As At 31st December 2012 |
: |
Christopher
David Kumar |
Managing
Director |
|
|
Felix Joseph
David Kumar |
Director |
|||
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Benedict Mohan
David Kumar |
Director |
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Jerald Krishanthan
|
Director |
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Auditors |
: |
V.G. Associates |
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Company Secretaries |
: |
K L Management Consultants |
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Issued Share Capital |
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Rs. 40.00 |
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Nominal Value of Share |
: |
Rs. 10.00 (Total Number Of Shares 04) |
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Share Holders As At 31st December 2012 |
: |
Share Holders |
No. Of Shares |
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Christopher
David Kumar |
01 |
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Felix Joseph
David Kumar |
01 |
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Benedict Mohan
David Kumar |
01 |
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Jerald
Krishanthan |
01 |
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01)
|
Name |
Christopher David Kumar |
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ID Number |
673352383 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
30th November 1967 |
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Age |
46 Years |
02)
|
Name |
Felix Joseph David Kumar |
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ID Number |
692112946 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
29th July 1969 |
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Age |
44 Years |
03)
|
Name |
Benedict Mohan David Kumar |
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ID Number |
722770919 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
03rd October 1972 |
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Age |
41 Years |
04)
|
Name |
Jerald Krishanthan |
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ID Number |
751080956 X |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
17th April 1975 |
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Age |
38 Years |
Most recent
available Financial Information
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 GALLOPS TRADING (PVT) LTD is a Private Limited Liability Company incorporated on 11th April 2010 under registration number PV 78331.
Location.
The Subject Company’s located at the client # 615, Hendala Road, Wattala
Operational
Details.
General
The subject company primary line of business is Import & Export of Paper Products
Products
Scrap Papers & Paper Boards
Export Products
Waste Paper
Countries
India, China
No of Employees
Not Disclosed
Financial Data
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
Trade references
The subject company
did not 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.
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.59.64 |
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UK Pound |
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
MNL |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.