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Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
WHITEGLOW (PVT) LTD |
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|
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Registered Office : |
# 486, Welipara, Thalawathugoda |
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Country : |
Sri Lanka |
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Date of Incorporation : |
09.01.2013 |
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Com. Reg. No.: |
PV 90460 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and exporters of ready made garments |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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 |
|
a. |
Name of Subject of Inquiry |
: |
WHITEGLOW (PVT) LTD |
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b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing Director |
: |
H. W. Ranil Mahesh |
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d. |
Primary Line of Business |
: |
Manufacturers and exporters of ready made garments |
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e. |
Head Office & Place of Business |
: |
# 287 /1/ C , Thumbowila Road, Bokundara, Piliyandala, Sri Lanka. Mob. No: (00 94 77) 274 1414 (Mr. H. W. Ranil Mahesh) Email : ranilwill1980@gmail.com |
|
g. |
No. of Employees |
: |
Not Disclosed |
Registration and Shareholder Details
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a. |
Registration No |
: |
PV 90460 |
||
|
b. |
Date of
Registration |
: |
09th January 2013 |
||
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c. |
Registered Office |
: |
# 486, Welipara, Thalawathugoda. |
||
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d. |
Board of Directors As At 31st
December 2013 |
: |
H. W. Ranil Mahesh |
Managing Director |
|
|
Panduka Marlon Perera |
Director |
||||
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K. Sanjeewa Wasantha Kumara Katulanda |
Director |
||||
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e. |
Issued Share
Capital |
|
Rs. 1,000.00 |
|
|
|
f. |
Nominal Value of
Share |
: |
Rs. 10.00 |
||
|
g. |
Share Holders As At 31st December
2013 |
: |
Share Holders |
No. of Shares |
|
|
H. W. Ranil Mahesh |
51 |
||||
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Panduka Marlon Perera |
30 |
||||
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K. Sanjeewa Wasantha Kumara Katulanda |
19 |
||||
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i. |
Auditors |
: |
Hewachandra & Accountants |
||
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j. |
Company
Secretaries |
: |
Crawely Managemrnt Systems (Pvt) Ltd |
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k. |
Bankers |
: |
Not Disclosed |
||
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 is WHITEGLOW
(PVT) LTD a Private
Limited Liability Company incorporated on
09th January 2013 under
registration number PV 90460.
Location.
The Subject Company is located at the client # 287/ 1/ C, Thumbowila Road, Bokundara,
Piliyandala.
General
The subject company primary line of business is Manufacturers and exporters of ready made garments
Products
Garments (Denim, T- Shirts)
Import Products
Fabrics
Import Countries
Pakistan
No of Employees
Not Disclosed
01)
|
Name |
H. W. Ranil Mahesh |
|
ID Number |
801471382 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
26th May
1980 |
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Age |
34 Years |
02)
|
Name |
Panduka Marlon
Perera |
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ID Number |
830430580 V |
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Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
12th
February 1983 |
|
Age |
31 Years |
03)
|
Name |
K. Sanjeewa
Wasantha Katulanda Kumara |
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ID Number |
770590280 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
28th
February 1977 |
|
Age |
37 Years |
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
The subject company
provided the following trade references:
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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|
Report Prepared
by : |
NIS |
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 |
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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 |
|
<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.