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Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SARA TRADING COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.05.2006 |
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Com. Reg. No.: |
PP 5079 |
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Legal Form : |
Partnership Company
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Line of Business : |
Dealer, Buyer and Exporter of Natural Rubber Sheets &
Copra. |
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No. of Employees |
10 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
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a. |
Name of Subject of Inquiry |
: |
SARA TRADING
COMPANY |
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b. |
Legal Form & Status |
: |
Partnership Company ( In Operation ) |
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c. |
Managing Partner |
: |
S. I. M. M. Sirraj |
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d. |
Primary Line of Business |
: |
Dealer, Buyer and Exporter of Natural Rubber Sheets & Copra. |
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e. |
Office, Stores & Place of Business |
: |
#33-C/1, Mahabuthgamuwa Road, Mahabuthgamuwa, Mulleriyawa New Town (Angoda) Sri Lanka. Tel.: (00 94 11) 256 9288 , 2549025, Fax: (00 94 11) 256 9288 Mobile:(00 94 77) 751 0114 - Mr. Sirraj E. mail : sirraj@eureka.lk |
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f. |
No of Employees |
: |
Approximately 10 |
Registration and
Shareholder Details
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a. |
Registration No |
: |
PP 5079 |
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b. |
Date of Registration |
: |
22nd May 2006 |
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c. |
Registered Office |
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# 33-C/1, Mahabuthgamuwa Road, Mahabuthgamuwa, Angoda. Sri lanka |
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d. |
Partners |
: |
Mr. S. I. M. M. Sirraj |
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Mrs. U. F. Sirraj |
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e. |
Auditors |
: |
Amarasekera & Company |
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g. |
Bankers |
: |
-Not Disclosed- |
Most recent available Financial Information
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 SARA TRADING COMPANY is a partnership incorporated under registration number PP 5079 on 22nd May 2006.
Note:
The
Proprietorship/Partnership companies are being registered at the
Provincial
Registrar of
Companies.
The Managing Partner, Mr. Sirraj seems to be rather unhappy or disappointed that he had no new customers/buyers although he has provided details of his company and declined to disclose any further information about the company.
The subject company is located at the client # 33-C/1, Mahabuthgamuwa
Road, Mahabuthgamuwa, Mulleriyawa New Town (Angoda), approx.15 kilo
meters
from Colombo city.
(Note: No. 98/1L, Avissawella Road, Mahabuthgamuwa, Mulleriyawa New Town (Angoda) had been the old address of the subject company.)
General
The subject company’s primary line of business is buying, selling and exporting of Natural Rubber Sheets and Copra. The rubber sheets are also sold to local rubber based product manufactures.
Products
Natural Rubber Sheets and Copra
Country
Pakistan and India
Employees
Approximately 10
The company refused to provide information on its finances.
Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability/ Partnership/ Proprietorship Companies 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.
|
NAME |
Mr. Sirraj |
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DESIGNATION |
Partner |
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CONTACT NO. |
009977-7510114 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.33 |
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|
1 |
Rs.103.18 |
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Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
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.