|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
VETHA IMPORTS |
|
|
|
|
Registered Office : |
# 227/1, 5th
Cross Street, |
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|
|
|
Country : |
|
|
|
|
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Date of Incorporation : |
Not Available |
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|
|
|
Legal Form : |
Partnership Company |
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|
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Line of Business : |
Importing & Wholesale dealers, General
Merchants of Food Items and also functioning as Commission Agents |
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|
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No. of Employees |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
|
Source
: CIA |
|
Name of Subject of Inquiry |
: |
VETHA
IMPORTS
|
|
Legal Form & Status |
: |
Partnership Company (In Operation) |
|
Managing Partner |
: |
Vazhga Vaiyagam |
|
Primary Line of Business |
: |
Importers, Wholesalers, General Merchants of Food Items &
Commission Agents |
|
Place of Business |
: |
# 229, 5th Cross Street, Tel.
No: (00 94 11) 243 5168, 243 3864, 243 5189 Fax
No: (00 94 11) 244 5945 Mobile
No: (00 94 77) 311 3278 (Mr. Vaiyagam) Email:
omsaravana229@gmail.com |
|
No. of Employees |
: |
Approximately
10 |
|
Registration No |
: |
Not Disclosed |
|
|
Date of Registration |
: |
Not Disclosed |
|
|
Registered Address |
: |
# 227/1, 5th Cross Street, |
|
|
Partners |
: |
Vazhga Vaiyagam |
Managing Partner |
|
Vazhga Valamudan |
Partner |
||
|
Auditors |
: |
Not Disclosed |
|
|
Bankers |
: |
Muslim
Commercial Bank |
|
Based on the corporate laws of
Limited
Liability/Proprietorships/Partnerships is not required to make public
disclosure of their
Annual financials. Therefore no
financials are available for this entity
·
History.
The Subject
Company VETHA IMPORTS is a
Partnership Company, in operation.
Mr. Vaiyagam, the
Managing Partner was contacted and though he promised to provide company details
such as incorporated and operational data, up to date he has not provided details as promised.
Note:
The Proprietorship/Partnership companies
are being registered at the Provincial Registrar of Companies and when the
owner/partner refuses to provide company details and /or not available for
contact, it is not possible to extract such details from the Provincial
Registry and also to verify the accuracy of the details.
Subject is having an Associate
Company named OM SARAVANA CO. at the
same
Premises.
·
Location.
The Subject Company is
located at # 229, 5th Cross Street, Street, Colombo- 11, Sri
Lanka, one of the main commercial
areas in Colombo city.
The client # 227/1, 5th
Cross Street,
Registered address.
·
Operational
Details.
General
The subject company primary
line of business is Importing & Wholesale dealers, General Merchants of
Food Items and also functioning as Commission Agents.
Products(Imports):
Various kinds of Food items such as:
o
Sugar
o
Flour
o
Onions
o
Garlic
o
Lentils
o
Chillies
o
Green Gram, Rice.
·
Import & Export Countries
China, India,
Pakistan
No of Employees
Approximately 10
Based on the corporate
laws of Sri Lanka, legal entities which are Private Companies with
Limited Liability
is not required to make public disclosure of their annual financials.
Therefore no
financials are available for this entity
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.60.50 |
|
UK Pound |
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.