MIRA INFORM REPORT

 

 

Report No. :

315215

Report Date :

10.04.2015

 

IDENTIFICATION DETAILS

 

Name :

A.M. RAHIM AND COMPANY (PVT) LTD 

 

 

Registered Office :

# 64 W.A.D. Ramanyake Mawatha, Colombo -02

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

14.12.1964

 

 

Com. Reg. No.:

 N (PVS) 2225

 

 

Legal Form :

Private Limited Liability Company [In Operation]

 

 

Line of Business :

Exporter of all kinds of Rubber

 

 

No. of Employees :

Not Divulged

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

GENERAL - Basic information at a glance

 

a.

Name of Subject of Inquiry

:

A.M. RAHIM AND COMPANY (PVT) LTD 

b.

Legal Form  & Status

:

Private Limited Liability Company   (In Operation)

c.

Managing Director

:

M. Shafeek Rahim

d.

Primary Line of Business

:

Exporter of all kinds of Rubber

e.

Principal Place of Business

:

 

# 64 W.A.D. Ramanyake Mawatha,

Colombo -02,

Sri Lanka

                       

 Tel. No:  (00 94 11)  232 0421 / 242 3911 / 244 5856

 Fax. No: (00 94 11)  244 8345

 

Email: off.amrahim@eureka.lk 

 

f.

No. of Employees

:

 - Not Disclosed-

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

 

a.

 

Registration No

:

 N (PVS) 2225

Date of Registration

:

14th December 1964

b.

Re-registration No

:

PV 1350

Date of Re-registration

:

05th December 2007

c.

Registered Office

:

# 64, W.A.D.Ramanayake Mawatha, Colombo- 02

d.

Board of Directors

As At

12th September 2014

:

M. Shafeek Rahim

Managing Director

Z. Maryam De Alwis( nee Rahim) (Ms)

Director

A. Shafeek Rahim

Director

e.

Issued Share Capital

:

Rs. 2,000,100.00

f.

Number of Shares

:

200,010

g.

Nominal Value of Share

:

Not applicable/declared vide Companies Act #7 of 2007

h.

Share Holders

As At

12th September 2014

:

  Share Holders

No. Of

Shares

M. Shafeek Rahim

75,040

Z. Maryam De Alwis (Ms)

10

A. Shafeek Rahim

24,965

A M Rahim & Company (Pvt) Ltd

99,995

i.

Auditors

:

Wickramasinghe Dayananda & Company

# 111 -1/1, Maya Avenue, Colombo 06

j.

Company Secretaries

:

Accountancy and Secretarial Services Bureau (Pvt) Ltd

# 86, S. De .S. Jayasinghe Mawatha, Kohuwala, Nugegoda

k.

Bankers

:

Bank of Ceylon (Corporate Exports) HSBC, Habib Bank

 

Directors’ Details

 

01)

Name

M. Shafeek Rahim

ID Number

372361930 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

23rd August 1937

Age

77 Years

Address

# 16, Stubbs Place, Colombo 05

02)

Name

Z. Maryam De Alwis

ID Number

406021491 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

11th April 1940

Age

75 Years

Address

# 18, Stubbs Place, Colombo 05

 

 

03)

 

Name

A. Shafeek Rahim

ID Number

671610920 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

09th June 1967

Age

48 Years

Address

# 16, Stubbs Place, Colombo 05

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

Subject declined to provide financial without the identity of the enquiring client.

 

(Note: 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 detailed financials are available for this entity)

   

Terms of Payments:

Usually by Letter of Credit but other Terms are negotiable depending on buyer-seller confidence. Their principal bankers are the Bank of Ceylon (Corporate Exports), HSBC and Habib Bank Ltd., Colombo.

 

 Prices are quoted on a day-to-day basis on either C&F (Cost and Freight), CIF or FOB ex-Colombo terms by fax, e-mail and telephone.       

 

 

Current investigation                         

 

·         History.

 The Subject Company A.M. RAHIM AND COMPANY (PVT) LTD is a Private Limited Liability Company incorporated on 14th December 1964 under the registration number N (PVS) 2225 and re-registered in terms of Companies Act #7 of 2007 on 05th December 2007 under No. PV 1350.

 

·         Location.

                The Subject Company is located at the client # 64, W.A.D. Ramanayake

                    Mawatha, Colombo- 02.

 

 

·         Operational Details.

 

General

The subject company primary line of business is an exporter of all kind of Rubber.

 

 

Products

All kind of Rubber products such as:

White & coloured sole crepe, Thin/thick pale crepe (Brown, White) R.SS Grades 1, 2, 3 & 5, Skim crepe etc.

 

Export  Countries

Germany, U.K., France, Italy, Spain, Pakistan, India, Japan, U.S.A., Canada, Argentina, China, Taiwan and South Africa.

 

Company states that they are having a long-standing association with the Bata Shoe organizations in Kenya, Zimbabwe, Pakistan & Bangladesh.

No of Employees

                  - Not Disclosed-

 

 

 

·         Trade references

 

                  The subject company did not provide any trade reference referrals

 

 

·         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 declined

 

Name :

Mr. A. Shafeek Rahim

Designation :

Director

Contact No.:

094 11 2320421

Date :

09.04.2015

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.26

UK Pound

1

Rs.92.49

Euro

1

Rs.66.99

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

               


 

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.