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Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PALLIGODA TRADING COMPANY (PVT) LTD |
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|
|
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Registered Office : |
# 57, Old Moor
Street, Colombo 12, |
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Country : |
Sri Lanka |
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Date of Incorporation : |
14.01.2011 |
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Com. Reg. No.: |
PV 76569 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Imports of Seeds |
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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 |
|
|
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 |
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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 |
|
a. |
Name of Subject of Inquiry |
: |
PALLIGODA TRADING
COMPANY (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing Director |
: |
Kingsley Palligoda Withana |
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d. |
Primary Line of Business |
: |
Trader and Imports of Seeds |
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e. |
Head office & Place of Business |
: |
# 57, Old Moor
Street, Colombo 12, Sri Lanka. Tel. No: (00 94
11) 243 2994 Fax No: (00 94 11) 233 4209 Email : palligoda@gmail.com |
|
f. |
No. of Employees |
: |
15 |
Registration and Shareholder Details
|
a. |
Registration No |
: |
PV 76569 |
||
|
Date of
Registration |
|
14th January 2011 |
|||
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c. |
Registered Office |
: |
# 57, Old Moor
Street, Colombo 12 |
||
|
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Factory Address |
: |
No 84/2, New
Huge Rd, Palligoda, Colombo. |
||
|
d. |
Board of Directors As at 14th
October 2012 |
: |
Kingsley Palligoda Withana |
Managing Director |
|
|
Densley Palligoda Withana |
Director |
||||
|
D.H. Upeksha Eashwary |
Director |
||||
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e. |
Issued Share
Capital |
: |
Rs. 1,000.00 |
||
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f. |
Nominal Value of
Share |
: |
Rs. 10.00 |
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g. |
Share Holders As at 14th
October 2012 |
: |
Share Holders |
No. of Shares |
|
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Kingsley Palligoda Withana |
55 |
||||
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Densley Palligoda Withana |
35 |
||||
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D.H. Upeksha Eashwary |
10 |
||||
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h. |
Auditors |
: |
WeragodaVidana Archchige |
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i. |
Company
Secretaries |
: |
W.A. Priyantha Kumara |
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k. |
Bankers |
: |
Sampath bank / NDB |
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Most recent available
Financial Information
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
History
The Subject Company
PALLIGODA TRADING COMPANY (PVT) LTD is a Private Limited
liability Company incorporated on
14th January 2011 under registration number PV 76569
“PALLIGODA TRADING COMPANY” was originally set up as a proprietorship company
And company was converted to a limited liability company under the name of
PALLIGODA TRADING COMPANY (PVT) LTD
The subject company is located at client # 57, Old Moor Street,
General
The subject company primary line of business is Trader and Imports of Seeds
Products
Seeds
Importer Countries
India, Brazil, Thailand
Importer
Products
Sugar and Rice
Employees
15
01)
|
Name |
Kingsley Palligoda
Withana |
|
ID Number |
661171430 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date Of Birth |
26th April 1966 |
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Age |
48 Years |
02)
|
Name |
Densley Palligoda
Withana |
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ID Number |
671100816 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
|
Date Of Birth |
19th
April 1967 |
|
Age |
47 Years |
03)
|
Name |
D.H. Upeksha
Eashwary |
|
ID Number |
766990754 V |
|
Nationality |
Sri Lankan |
|
Gender |
Female |
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Date Of Birth |
17th
July 1976 |
|
Age |
38 Years |
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
The subject company
did not provide any trade reference referrals
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.
|
NAME |
Mr. Anura Archchige |
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DESIGNATION |
Import Department |
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CONTACT NO. |
009411 2432994 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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|
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 |
-- |
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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.