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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ARUNA TRADERS (PVT) LTD |
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Registered Office : |
# 102, High level Road, Moraketiya, Pannipitiya, |
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Country : |
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Date of Incorporation : |
01.06.1998 |
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Reg. No.: |
PV 21531 |
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Legal Form : |
Private Limited Liability Company
(In operation) |
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Line of Business : |
Import, Manufacturers, Exporters, Traders Grocery Items. |
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No. of Employees : |
Approximately 15 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 (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.
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Source
: CIA |
|
a. |
Name of Subject of Inquiry |
: |
ARUNA TRADERS
(PVT) LTD |
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b. |
Legal Form & Status |
: |
Private Limited
Liability Company (In operation) |
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c. |
Managing Director |
: |
P. G. Aruna
Rohitha |
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d. |
Primary Line of Business |
: |
Import,
Manufacturers, Exporters, Traders Grocery Items. |
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e. |
Head Office & Place of Business |
: |
# 102, High
level Road, Moraketiya, Pannipitiya, Sri Lanka. Tel. No: (00 94 11) 284 1333 Fax No: (00 94 11) 284 2198 |
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f. |
No. of Employees |
: |
Approximately 15 |
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a. |
Registration No |
: |
N (PVS) 21334 |
||
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Date of Registration |
: |
01st June 1998 |
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b. |
Re-registration No |
|
PV 21531 |
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Date of Re-registration |
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2nd June 2011 |
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c. |
Registered Office |
: |
# 102, High
Level Road, Moraketiya, Pannipitiya, Sri Lanka |
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d. |
Board Of Directors As At 02nd June 2011 |
: |
P. G. Aruna
Rohitha |
Managing
Director |
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|
Y. Nalika
Kumarage |
Director |
||||
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f. |
Issued Share Capital |
: |
Rs. 20.00 |
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g. |
Nominal Value of Share |
: |
Rs. 10.00 |
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h. |
Share Holders As At 02nd June 2011 |
: |
Share Holders |
No of Shears |
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P. G. Aruna
Rohitha |
01 |
||||
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Y. Nalika
Kumarage |
01 |
||||
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i. |
Secretaries |
: |
Business Allied Services (Pvt) Ltd |
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j. |
Auditors |
: |
Ratnayake T.A & Co |
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k. |
Bankers |
: |
Bank of Ceylon, Peoples Bank |
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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 ARUNA TRADERS
LTD is a Private Limited liability Company
incorporated in 01st June 1998 under registration
number N (PVS) 21334 and then the company was re-registered on 2nd
June 2011 under registration number PV 21531.
Location.
The Subject Company is located at # 102, High Level Road, Moraketiya,
Pannipitiya.approx.15 kilometres
away from Colombo. Client No.17/2, Dutugemunu Mawatha, Peliyagoda is
a subject company previous business place.
General
The subject company primary line of business
is Importers, Manufactures, Processors,
Assemblers, Exporters, Dealers in food, Grocery Items.
Products
Food, Grocery Items, Daily need items
Country
India, China
Employees
Approximately 15
01)
|
Name |
P. G. Aruna
Rohitha |
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ID Number |
662970360 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
23rd October
1966 |
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Age |
47 Years |
02)
|
Name |
Y. N. Kumarage |
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ID Number |
736121352 V |
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Nationality |
Sri Lankan |
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Gender |
Female |
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Date of Birth |
21st
April 1973 |
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Age |
40 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 did not provide any trade
reference referrals
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.62.28 |
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|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
-- |
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.