MIRA INFORM REPORT

 

 

Report No. :

354835

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

EARNEST INTERNATIONAL COMPANY LIMITED

 

 

Registered Office :

No. 104/B, 27th Street (Middle), Pabedan Township, Yangon

 

 

Country :

Myanmar

 

 

Date of Incorporation :

02.08.2005

 

 

Com. Reg. No.:

850/2005-2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of Other Intermediate Products.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Myanmar

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Summary

 

Business  Name

Earnest  International  Company  Limited

Country

MYANMAR

Company  Registration  Number

850/2005-2006

Main  Activity  Code

4676

Main  Activity  Description

Wholesale  of  other  intermediate  products

Company  Status

(Active)

Latest  Turnover  Figure

-

Latest  Shareholder  Equity  Figure

-

 

 

Basic Information

 

Business  Name

Earnest  International  Company  Limited

Registered  Company  Name

Earnest  International  Company  Limited

Company  Registration  Number

850/2005-2006

Country

MYANMAR

VAT  Registration  Number

 

VAT  Registration  Date

 

Date  of  Company  Registration

2005-08-02

Date  of  Starting  Operations

2005-08-02

Commercial  Court

 

Legal  Form

Limited  Liability  Company

Type of Ownership

 

Company  Status

(Active)

Principal  Activity  Code

 

Principal  Activity  Description

 

Contact  Telephone  Number

 

 


 

Main Address

 

Address

 

Country

Telephone

No.  104/B,  27th  Street  (Middle),  Pabedan  Township,  Yangon

MYANMAR

 

 

 

Other Address

 

Address

Country

Telephone

 

No  other  addresses  for  this  company.

 

 

 

Previous Address

 

Address

Country

 

No  previous  addresses  for  this  company.

 

 

Activities

 

Activity  Code

Activity  Description

4676

Wholesale  of  other  intermediate  products

4690

Non-specialised  wholesale  trade

 

 

Email Addresses

 

No email for this company.

 

 

Web Pages

 

No web pages for this company.

 

 

Other Information

 

No other information  for  this  company

 

 

Miscellaneous Information

 

Fax  Number

 

Export  Countries

 

Import  Countries

 

Additional  Business  Information

The  company  is  engaged  in  manufacture,  import  and  export  of 

consumer goods,  organic  pigments  and  raw materials  for  Mosquito  Coil  and Agarbatti  Industries.

Additional  Rating  Information

 

Additional  Payment  Information

Unknown

Additional  Financial  Information

Private  companies  in  Myanmar  are  not  required  to  disclose 

financial  statements

Number  of  Employees  at  Address

 

Number  of  Employees  at  Group

 

Number  of  Employees  at  Factory

 

 

 

Additional Miscellaneous Information

 

Line  of  Business

Consumer  goods  wholesale

Industry  Division

Wholesale  trade

Board  of  Directors

1. Director:  U  Aung  Tun  Id:  12/BATAHTA(NAING)010433 

2.  U  Kyaw  Win  Id:  12/MAYAKA(NAING)107983  3.  U

 

Sein  Win  Tun  Id:  12/BATAHTA(NAING)033982

Responsible  Register

State  Register  of  Myanmar

Sanctions  List

The  company  is  not  listed  on  the  WorldCompliance  Database

Operations  &  branches

At  the  address,  No.  104/B,  27th  Street  (Middle),  Pabedan  Township,  Yangon, 

we  find  the  company's  head office.

 

 

Financial Information

 

No  financial  information  for  this  company.

 

 

Current Directors

 

Name

 

Gender

Address

Date  of Birth

Position

U  Aung  Tun

Unknown

Myanmar

Director

 

U  Kyaw  Win

Unknown

Myanmar

Director

 

U  Tin  Tun

Unknown

 

 

Chief  Executive  Officer

 

 

Previous Directors

 

Name

Gender

Address

Date  of  Birth

Position

Resignation  Date

 

No  previous  directors  for  this  company.

 

 

Share Capital Structure

 

Nominal Share Capital -

 

Issued  Share  Capital -

 

 

 

Shareholders

 

Shareholder

 

Address

% Shares  Held

U  Kyaw  Win

Myanmar/MM

33.32

U  Aung  Tun

Myanmar/MM

16.66

U  Tin  Tun

Myanmar/MM

16.66

U  Sein  Win  Tun

Myanmar/MM

16.66

Daw  Yin  Yin  Myint

Myanmar/MM

16.66

 

 

Group Structure

 

No  group  structure  information  for  this  company

 

 

Negative Information

 

Public   information:  No  legal  information  is  available


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.14

MMK

1

Rs.0.051

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NIT

 

               


 

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.