MIRA INFORM REPORT

 

 

Report Date :

01.11.2014

 

IDENTIFICATION DETAILS

 

Name :

ALLIED TRADING INTERNATIONAL (PVT) LTD

 

 

Registered Office :

# 301, Old Moor Street, Colombo -12.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

13.02.2002

 

 

Com. Reg. No.:

PV 7917

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Distributor and Importer of water supply fittings.

 

 

No. of Employees :

90

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

Company name and address

     

a.

Name of Subject of Inquiry

:

ALLIED TRADING INTERNATIONAL (PVT) LTD

 b.

Legal Form  & Status

:

Private Limited Liability Company (In operation)

c.

Managing Director

:

Mohammed Thahir Ifthikar Ahamed

d.

Primary Line of Business

 

 

Distributor and Importer of water supply fittings.

e.

 

Head Office

&

Place of Business

 

:

 

# 301, Old Moor Street,

Colombo 12,

Sri Lanka.

          

Tel. No: (00 94 11) 234 3561 / 247 1532 / 247 1798 / 232 5719

Fax No: (00 94 11) 233 8364 / 243 5180

 

E mail: alliedint@eureka.lk

 

f.

No. of Employees

:

Approximately  90

 

 

COMPANY DETAILS 

 

Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 29958

Date of Registration

:

13th February 2002

b.

Re-registration No

:

PV 7917

Date of Re-registration

:

06th October 2008

c.

Registered Office

:

# 301, Old Moor Street, Colombo -12.

d.

Board Of Directors

As at

14th October 2013

:

Mohammed Thahir Ifthikar Ahamed

Managing Director

Mohamed Mansoon Sithy Haleema (Ms)

Director

e.

Issued Share Capital

:

Rs. 1,000,000.00

Number of Shares

 

100,000

f.

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007            

g.

Share Holders

As at

14th October 2013

:

 Share Holders

No of Shares

Mohammed Thahir Ifthikar Ahamed

60,000

Mohamed Mansoon Sithy Haleema (Ms)

40,000

h.

Secretaries

:

GRS Management and Secretarial Services (Pvt) Ltd

i.

Auditors

:

K. K. Gnanenthiran Associates

j.

Bankers

:

 

  • Hatton National Bank Limited, Colombia, Sri Lanka
  • Commercial Bank of Ceylon Limited, Colombia, Sri Lanka

 

k.

Trading Terms

 

Purchasing Terms : Cash and Credit

Sales Terms : Cash and Credit

 

 

FINANCIAL DETAILS

 

 Most recent available Financial Information

     

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

CURRENT INVESTIGATION                      

 

History.

 

The Subject Company ALLIED TRADING INTERNATIONAL (PVT) LTD is a Private Limited liability Company incorporated on 13th February 2002 under registration number   N (PVS) 29958 and then the company was re-registered on 06th  October 2008 under registration number PV 7917.

 

Location.

 

The Subject Company is located at the client # 301, Old Moor Street, Colombo 12.

 

Operational Details

 

General

The subject company primary line of business is an Importer, Stockiest and Distributor of water supply fittings.

 

                 http://yellowpageslk.com/allied/images/2.jpg        http://yellowpageslk.com/allied/images/unid2.jpg

 

Countries

Japan, India

 

Products

Pipeline Valves, Control Systems, Pipes & Fittings also Boiler Tubes.

 

Employees

Approximately 90

 

Importer of

Pipeline Valves, Control Systems, Pipes & Fittings also Boiler Tubes.

 

Importer Country

Japan India

 

 

Director’s details

 

Name

Mohammed Thahir Ifthikar Ahamed

ID Number

492481173 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

4th September 1949

Age

65 Years

 

02

Name

Mohamed Mansoon Sithy Haleema

ID Number

535502927 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

19th February 1953

Age

61 Years

 

 

Financial Data

 

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

                

Trade references

 

Not Available

 

 

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 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.

                                                           


 

Information parted by

 

NAME

Mr. Mohammed T Ahamed

DESIGNATION

Director

CONTACT

(009411) 2471532

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.98.06

Euro

1

Rs.77.19

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RAS

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.