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Report No. : |
333646 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
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Name : |
THANUJA ENTERPRISES |
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Registered Office : |
N0-102/4, Wolfendhal Street, Colombo -13. |
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Financials (as on) : |
Sri Lanka |
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Date of Incorporation : |
28.03.1996 |
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Com. Reg. No.: |
W 13471 |
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Legal Form : |
Partnership Company (in operation) |
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Line of Business : |
Importers and dealers of food items and Cement. |
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No. of Employee : |
200 (Group) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
: |
THANUJA
ENTERPRISES |
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b. |
Legal Form & Status |
: |
Partnership Company (in operation) |
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c. |
Managing Partner
|
: |
A. M. Thanunayagam |
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d. |
Primary Line of Business |
: |
Importers and
dealers of food items and Cement |
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e. |
Head Office & Place of
Business |
: |
No.
230-232, Wolfendhal Street, Colombo
– 13, Sri
Lanka. Tel.
No: (00 94 11) 245 1558 / 234 2138/
245 1716 Fax No: (00 94 11) 247 0465 E-mail: amtbowser@yahoo.com |
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f. |
No. of Employees |
: |
Approximately
200 (Group) |
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a. |
Registration No |
: |
W 13471 |
||
|
b. |
Date of
Registration |
: |
28th March 1996 |
||
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c. |
Registered
Office |
: |
N0-102/4,
Wolfendhal Street, Colombo -13. |
||
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d. |
Partners |
: |
A. M. Thanunayagam |
Managing Partner |
|
|
Rani Nirmala
Thanunayagam |
Partner |
||||
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e. |
Auditors |
: |
Hemachandra & Company |
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f. |
Bankers |
: |
National Development Bank, Sampath Bank Plc |
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- Most recent available Financial
Information
The company has
declined to provide information on its finances without the identity of the end
user of the enquiry.
However, it should be noted that the particular industry/trading
segment the company is involved has very good
growth potential and as such it can be expected for the company to
expect a steady growth in the income
(Note:
Based on the corporate laws of Sri Lanka, legal entities which are Private Company
with Limited Liability/partnership/proprietorships are not required to make
public disclosure of their annual financials. Therefore no financials are
available for this entity)
The Subject Company THANUJA
ENTERPRISES is a Partnership
Company registered on 28th
March 1996 under registration No. W
13471.
Subject is having an Associate Company named “AMT
Transport Service”
The Subject Company is located at N0-230-232, Wolfendhal Street, Colombo -13 which is one of the highly commercial areas in Colombo city.
The client No.102/4, Wolfendhal Street, Colombo -13 is the registered address of the company.
General
The subject company primary line of business is Import and dealers of food items and Cement
Products
Onions, Potatoes etc.
Cement: “Coromandel” Branded Indian Cement
Import Countries
India
No of Employees
Approximately 200
(Group)
When the Subject Company was contacted they were very cooperative and polite in providing the basic information given in this report but declined to provide financial details.
The India Cement
Ltd, Coimbatore
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.
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Name : |
Mr. A. M. Thanunayagam |
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Designation : |
Managing Partner |
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Contact No.: |
(009411) 2451558 |
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Date : |
28.07.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
ANK |
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 |
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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.