|
Report No. : |
356435 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISHNU IMPORTS |
|
|
|
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Registered Office : |
#194 E, 4/A, Duro Courts, Pickerings Road, Colombo – 13 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
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Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Partnership Company |
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|
|
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Line of Business : |
Importers and distributors of food items |
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|
|
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No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Close down |
|
|
|
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Payment Behaviour : |
-- |
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|
|
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Litigation : |
-- |
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 |
|
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 government's 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, but low tax revenues remain a 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 |
VISHNU IMPORTS
|
a. |
Name of Subject of Inquiry |
: |
VISHNU
IMPORTS ( Not In Operation) |
|
b. |
Legal Form & Status |
: |
Partnership Company ( Not In Operation) |
|
c. |
Managing Partner |
: |
P. Mohan |
|
d. |
Primary Line of Business |
: |
Importers and
Distributors of Food Items |
|
e. |
Office & Place of Business |
: |
#194
E, 4/A, Duro Courts, Pickerings Road, Colombo
– 13. Sri Lanka Mobile
No: (00 94 77) 736 5813 – P. Mohan |
|
h. |
No. of Employees |
: |
Company
closed and not in operation |
|
a. |
Registration No |
: |
Not Disclosed- Company closed and not in
operation |
|
|
b. |
Date of Registration |
: |
Not Disclosed- Company closed and not in
operation |
|
|
c. |
Registered Office |
: |
#194, 4/2, Duro Courts, Pickerings Road, Colombo
– 13. |
|
|
d. |
Partners |
: |
P.
Mohan |
Managing Partner |
|
i. |
Auditors |
: |
Not
Disclosed |
|
|
j. |
Company Secretaries |
: |
Not applicable for this category of companies |
|
|
k. |
Bankers |
: |
Bank
of Ceylon Hatton
National Bank Muslim
Commercial Bank |
|
Most recent available Financial Information
Mr. Mohan, the Managing
Partner was contacted and he informed that Subject Company is closed due to
losses incurred and not in operation at present.
Financials are not available.
HISTORY
The Subject Company VISHNU IMPORTS was a Partnership Company and it is now been closed
and not in operation as told by the Managing Partner of the company Mr. Mohan.
He says that due to the losses incurred by the company, he was compelled to
close it.
(Note:
The Proprietorship/Partnership companies are being registered at the Provincial
Registrar of Companies and when the owner refuses to provide details such as
registration number, date of registration, auditors etc., it is not possible to
obtain such details from the registry)
Location:
The subject company was located at client #194 E, 4/A, Duro Courts, Pickerings Road,
Colombo
– 13 and is closed and not in operation, as told by the Managing Partner, Mr.
Mohan
General:
The subject company’ primary line
of business had been Importing and distribution of food items.
Products:
Imported products has been All kind of food
items such as: Rice, Potatoes, Onions, Lentils etc
Importing Countries:
Products had been imported from India and
China
Employees:
Not applicable as the company has been closed
at present.
Company closed and not in operations 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 promoters 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. Thiru |
|
Designation : |
Partner |
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Contact No.: |
0094-777413361 |
A claimed by Mr. Thiru (Partner) that subject has no activity since last
one year and he denied to parting any further information on it
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
|
UK Pound |
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
|
LKR |
1 |
Rs. 0.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.