MIRA
INFORM REPORT
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Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
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Name : |
A D PERERA & SONS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1990 |
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Legal Form : |
Proprietorship Company |
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Line of Business : |
Trader and Importer of Electrical Equipment and Also Providing All
Types of Electrical Solution Services. |
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No of Employees : |
50 |
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 – 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 |
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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. 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 |
GENERAL - Basic information at a glance
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a. |
Name of Subject of Inquiry |
: |
A D PERERA & SONS
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b. |
Legal Form & Status |
: |
Proprietorship
Company (In Operation) |
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c. |
Sole Proprietor |
: |
A.T. Perera |
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d. |
Primary Line of Business |
: |
Trader and Importer of Electrical Equipment and Also Providing All
Types of Electrical Solution Services. |
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e. |
Place of Business |
: |
# 31/1, 1st
Lane, Sri Gnanendra Mawatha, Nawala, Sri Lanka. Tel. No: (00 94 11) 280 6860 / 280 6210 Fax No: (00 94 11) 280 5211 Email: adpsons@sltnet.lk |
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f. |
No. of
Employees |
: |
50 |
COMPANY DETAILS - Registration and Shareholder Details
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a. |
Registration No |
: |
Not Disclosed |
|
b. |
Date of Registration |
: |
1990 |
|
c. |
Registered Address |
: |
# 31/1, 1st
Lane, Sri Gnanendra Mawatha, Nawala |
|
d. |
Proprietor |
: |
A.T. Perera |
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e. |
Auditors |
: |
Not Disclosed |
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f. |
Bankers |
: |
Not Disclosed |
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g. |
Imports |
: |
Product: Electrical
Equipment Country: India, China
& Europe |
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h. |
Trading Terms |
: |
Purchasing
Terms: Cash and Advance Payment Selling Terms: Cash and Advance
Payment |
FINANCIAL DETAILS - Most recent available Financial Information
(Note: Based on the corporate laws of Sri Lanka, legal entities which are Private Companies with Limited Liability/Proprietorships/Partnerships is not required to make public disclosure of their Annual financials. Therefore no financials are available for this entity)
CURRENT INVESTIGATION
·
History.
The Subject
Company A D PERERA & SONS is Proprietorship Company, in operation.
Note:
The Proprietorship/Partnership companies are being registered at the
Provincial Registrar of Companies and when the owner/partner refuses to provide
company details and /or not available for contact, it is not possible to
extract such details from the Provincial Registry and also to verify the
accuracy of the details.
·
Location.
The Subject Company is
located at client
Mawatha, Nawala.
·
Operational
Details.
General
The subject company primary
line of business is Electrical
installation civil engineering Company.
Services
All Kinds of Electrical Services
Lightning
Protection Systems
Fire Protection Systems
including fire hydrants
Telecommunication
Systems
Public Address
Systems
Air conditioning
& Refrigeration work
Solar Power
Systems
No of Employees
Not Disclosed
·
Trade References
Institute for Construction Training and Development
(ICTAD).
·
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 computerized 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 [GENERAL DETAILS]
|
Name : |
Ms. Mala |
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Designation : |
Secretary Project |
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Contact No.: |
009411 2806860 |
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Date : |
01.10.2014 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Information
Gathered by : |
SVA |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
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 |
|
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.