|
Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
M H S AHAMED MANSOOR & BROS |
|
|
|
|
Registered Office : |
# 53, Wolfendhal Street, Colombo 13. |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
07.09.1955 |
|
|
|
|
Com. Reg. No.: |
WA 5843 |
|
|
|
|
Legal Form : |
Partnership Company |
|
|
|
|
Line of Business : |
Importers & Dealers of Beedi Leaves, Beedi Tobacco
& Printing Paper |
|
|
|
|
No. of Employees |
06 |
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 |
|
Payment Behaviour : |
Unknown |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Sri Lanka |
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 |
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 |
: |
M H S AHAMED
MANSOOR & BROS |
|
b. |
Legal Form & Status |
: |
Partnership Company (In operation) |
|
c. |
Managing Partner |
: |
M.H.S. Abdul Hassan |
|
d. |
Primary Line of Business |
: |
Importers & Dealers of Beedi Leaves, Beedi Tobacco & Printing Paper |
|
e. |
Head Office & Place of Business |
: |
# 53 & 55, Wolfendhal Street, Colombo 13, Sri Lanka. Tel. No: (00 94
11) 232 8394 Fax No: (00 94 11)
242 3266 |
|
f. |
No. of Employees |
: |
Approx. 06 |
Registration and Shareholder Details
|
a. |
Registration No |
: |
WA 5843 |
||
|
b. |
Date of Registration |
: |
07th September, 1955 |
||
|
c. |
Registered Office/Address |
: |
# 53, Wolfendhal Street, Colombo 13. |
||
|
d. |
Partners |
: |
M.H.S. Abdul Hassan |
Managing Partner |
|
|
Mansoor Aysha Beebee (Ms) |
Partner |
||||
|
Faiz Zany Abdul Hassan |
Partner |
||||
|
Mohamed Abdul Cader Mohamed Aslam |
Partner |
||||
|
Mohamed Abdul Cader Ahamed Hassan |
Partner |
||||
|
Ahmed Mansoor Mohamed Yoosuf |
Partner |
||||
|
e. |
Auditors |
: |
Kreston &
Company |
||
|
f. |
Bankers |
: |
Bank of Ceylon |
||
Most recent available
Financial Information
The company has declined to provide information on its finances without the identity of the end user.
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 M
H S AHAMED MANSOOR & SONS is a Partnership Company, in operation. The partners who own the business are the family
members of the founder Mr. M.H.S. Mansoor.
The Managing Partner, Mr. Abdul Hassen was
contacted and he was very cordial in providing all details except financials.
He needed to know the details of the enquiring client to disclose financial
details
Location.
The subject company is located at client # 53 Wolfendhal Street, Colombo 13, Sri
Lanka, one of the main business areas in the city of Colombo. The premises are
approx. 300square feet in extent.
General
The subject company primary line of business is an Importers & Dealers in Beedi Leaves, Beedi
Tobacco & Printing Paper.
The distribution of
products is done through their agents island-wide and also at the company
premises itself.
Products
Beedi leaves
Beedi Tobacco
All kinds of Printing Papers
Import Country
India
Employees
Approx. 06
The company has declined to provide information on its finances without the identity of the end user.
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.60.13 |
|
|
1 |
Rs.102.83 |
|
Euro |
1 |
Rs.82.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
|
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.