MIRA INFORM REPORT

 

 

Report Date :

09.10.2014

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL BRANDS (PVT) LTD

 

 

Registered Office :

# 73, K Cyril C Perera Mawatha, Colombo 13,

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

16.02.2010

 

 

Com. Reg. No.:

PV 71083

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Trader and Import of Alcohol

 

 

No. of Employees :

23

 

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

:

GLOBAL BRANDS (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company 

c.

Managing Director

:

Rahul Kashyap

d.

Primary Line of Business

:

Trader and Import of Alcohol

e.

Head Office

&

Place of Business

 

 

:

 

# 73, K Cyril C Perera Mawatha,
Colombo 13,

Sri Lanka.

 

Mobile No.: 0009411 - 2424924

Tel. No: (00 94 11) 242 4924

Fax. No: (00 94 11) 244 1345

 

Email:        rahul-kashyap@sltnet.lk

Website   : http://www.globalbrands.kl

 

f.

No. of Employees

:

23

                       

 

COMPANY DETAILS 

 

Registration and Shareholder Details

 

a.

Registration No

:

PV 71083

Date of Registration

 

16th February 2010

c.

Registered Office

:

# 73, K Cyril C Perera Mawatha, Colombo 13

d.

Board of Directors

As at

12th October 2011

:

Rahul Kashyap (India)

Managing Director

D. Patrick Gregory

Director

e.

Issued Share Capital

:

Rs. 1,000.00              

Number of Shares

:

100

f.

Nominal Value of Share

:

Rs.  10.00                    

g.

 

Share Holders

As at

12th October 2011

:

Share Holders

No. of

Shares

M.F. Iftikar Zaruk

01

Rahul Kashyap ( India)

69

D. Patrick Gregory

30

h.

Auditors

:

Not Applicable

i.

Company Secretaries

:

I M S Corporate Services (Pvt) Ltd

k.

Bankers

:

National Development Bank, Colombo

 

 

 

Directors’ Details

 

  01)

Name

Rahul Kashyap

Passport Number

 Z 1748717

Nationality

Indian

 

02)

Name

D. Patrick Gregory

ID Number

733262060 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

21st November 1973

Age

40 Years

 

FINANCIAL DETAILS

 

Most recent available Financial Information

 

(Note: 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

                                               

                                                   

                                                   Company Logo

 

History

 

   The Subject Company GLOBAL BRANDS (PVT) LTD is a Private Limited   liability Company incorporated on 16th February 2010 under registration number PV 71083.

 

Location.

 

The subject company is located at # 73, K Cyril C Perera Mawatha, Colombo 13, Sri Lanka and client # 79, K Cyricel C, Perera Mawatha, Colombo 13 is in Corrected address.

 

 

Operational Details

 

General

 

The subject company primary line of business is Trader and Import of Alcohol

 

Products

Wines, Beer, Spirit, Liquor, Tobacco….etc

 

Brands

                  HAYMANS

                  BLACK TOWER

                  ROBERTO CAVALLI

                  LOUIS ROYER

                  VOLARE

Country

South Africa, Mexican, Australia, China, Spain, Switzerland, French, German

 

Impoter of                    Alcohol

Import countries :        USA, India, South Africa, France, Italy Germany, Dubai etc.

 

Employees

23

 

 

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. Patrick Gregory

DESIGNATION

Director

CONTACT NO

00094-777425221

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.35

UK Pound

1

Rs.98.71

Euro

1

Rs.77.47

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

DIV

 

 

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.