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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
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Name : |
OSKAR STEEL CENTRE |
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Registered Office : |
# 140, Maha Vidyalaya Mawatha, Colombo 13. |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Partnership Company |
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Line of Business : |
Importers, Stockists , Dealers & Distributors of Hardware |
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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
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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. 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 |
: |
OSKAR STEEL CENTRE |
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b. |
Legal Form & Status |
: |
Partnership Company (In Operation) |
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c. |
Managing Partner |
: |
S. Durai Rajah |
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d. |
Primary Line of Business |
: |
Importers, Stockists , Dealers & Distributors of Hardware |
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e. |
Office & Place of Business |
: |
# 140, Maha Vidyalaya Mawatha, Colombo 13. Sri Lanka
Tel No: (00 94 11) 244 0843; 244 9956 Tel/Fax No:(00 94 11) 242 3837 Email: oskarsteel@yahoo.com |
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f. |
No. of Employees |
: |
Approx. 15 |
Registration and
Shareholder Details
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a. |
Registration No |
: |
Not disclosed |
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|
b. |
Date of
Registration |
: |
Not disclosed |
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c. |
Registered Office |
: |
# 140, Maha Vidyalaya Mawatha, Colombo 13. Sri Lanka |
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d. |
Partners |
: |
S. Durai Rajah |
Managing Partner |
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Details of other partners not disclosed |
- |
|||
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e. |
Auditors |
: |
Not Disclosed |
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f. |
Bankers |
: |
Not Disclosed |
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HISTORY:
The Subject Company OSKAR STEEL CENTRE is a Partnership company in operation as General Merchants of importing & distribution of hardware.
The Manager of the subject company was contacted and was reluctant/declined to provide details of partners and company registration etc. up to now.
The Proprietorship/
Partnership companies are being registered at the Provincial Registrar of
Companies and when the owner does not provide the registration details it is
not possible to extract such details from the Registrar’s office to verify
same.
Location:
The subject company is located at the client # 140 Maha Vidyalaya Mawatha, Colombo 13, which is a premier Hardware business area in the Colombo city.
General:
The subject company’ primary line of business is Importing and distribution of all kinds of hardware/ steel tubes items.
Products:
M.S. Angle Iron / Plates, BI sheets, Aluminium sheets, deformed bars, M.S. flats, GI pipes, channel iron, Stainless steel sheets, hollow tubes, rectangle tubes, electric welding rods, TOR Steel, hoop iron, Jumper Steel , MS lipped channels Etc.
Importing Countries:
India, China,
Employees:
Approx. 15
The Company has declined to provide information on its Finances and also operational details.
Based on the corporate laws of Sri Lanka, legal entities
which are Private Company with Limited
Liability/Proprietorship/Partnership 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 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
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 |
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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 |
|
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.