MIRA INFORM REPORT
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Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
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Name : |
RUBY INTENATIONAL ASSOCIATES |
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Registered Office : |
# 333-1/3, Old Moor Street, Colombo 12 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
04.07.1982 |
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Com. Reg. No.: |
W 12098 |
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Legal Form : |
Partnership Company |
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Line of Business : |
Importers, Dealers & Distributors of Boiler Equipments, Hardware & Steel Products and Fluid control equipments |
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No. of Employees : |
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
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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. 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 2012-13. 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 |
Company
name and address
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a. |
Name of Subject of Inquiry |
: |
RUBY INTENATIONAL ASSOCIATES |
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b. |
Legal Form & Status |
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Partnership Company (In Operation) |
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c. |
Managing Partner |
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V. Rajasekeran |
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d. |
Primary Line of Business |
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Importers , Dealers & Distributors of Boiler Equipments, Hardware & Steel Products and Fluid control equipments |
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e. |
Main Office & Places of Business |
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# 333-1/3, Old Moor Street, Colombo 12. Sri Lanka
Tel No: (00 94 11) 244 0952;233 7259 Fax No:(00 94 11) 244 6506 Email: rubyia@dynaweb.lk
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Branch/Showroom |
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# 346, Old Moor Street, Colombo 12, Sri Lanka. Tel. No: (00 94 11) 238 4105; 243 245 Fax. No: (00 94 11) 244 6506 |
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f. |
No. of Employees |
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Approx. 15 |
COMPANY
DETAILS
Registration and
Shareholder Details
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a |
Registration No |
: |
W 12098 |
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b. |
Date of
Registration |
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04th July, 1982 |
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c. |
Registered Office |
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# 333-1/3, Old Moor Street, Colombo 12. Sri Lanka |
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d. |
Partners |
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V. Rajasekaran |
Managing Partner |
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Sri Shanthi Rajasekaran |
Partner |
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e. |
Auditors |
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Not Disclosed |
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f. |
Bankers |
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Not Disclosed |
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CURRENT
INVESTIGATION
Company Logo
HISTORY:
The Subject Company RUBY
INTERNATIONAL ASSOCIATES is a Partnership company in operation as General
Merchants of importing & distribution of hardware, registered on 04th July, 1982 under
Registered No: W 12098.
Note:
The
Proprietorship/Partnership companies are being registered at the Provincial
Registrar of Companies.
Location:
The subject company is located at the client # 333-1/ 3, New Moor Street, Colombo 12. Sri Lanka, a premier Hardware business area in the Colombo city.
OPERATIONAL
DETAILS
General:
The subject company’
primary line of business is Importing
and distribution of Boiler equipments, hardware/steel items, Fluid control equipments.
Products:
Boiler Equipments/
Fluid control Equipments
GI & Steam Pipes & Fittings; SS & Carbon Steel Pipes;
SS Sheets, Angles, Flats, Tubes & Mesh.
SS SMS Hygienic Fittings for food Processing Industry.
M.S.Angles / Plates/sheets etc.
Wire ropes & Accessories
Water Meters
All types of Valves
Rubber, Nylon, PVC Steel Hoses
Importing Countries:
India, China, UK, Austria, Italy, Taiwan, Thailand, Indonesia, Singapore,
Employees:
Approx.15 employees.
Financial
Data
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
Credit
Recommendations
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 promoters 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.90 |
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1 |
Rs.103.26 |
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Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
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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.