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Report No. : |
356437 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
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Name : |
PONVIN TRADERS |
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Registered Office : |
# 132, 4th Cross street, Colombo 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Proprietorship Company (In Operation) |
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Line of Business : |
Import & Distributors of Food Items. |
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No. of Employee : |
Approx. 06 |
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 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 |
|
a. |
Name of Subject of Inquiry |
: |
PONVIN TRADERS |
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b. |
Legal Form & Status |
: |
Proprietorship Company (In Operation) |
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c. |
Proprietor |
: |
Chandrasekaran |
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d. |
Primary Line of Business |
: |
Import &
Distributors of Food Items. |
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e. |
Head Office
& Place of Business |
: |
# 132, 4th Cross street, Colombo 11 Sri Lanka. Tel. No: (00 94 11) 233 8302 Fax. No: (00 94 11) 233 8302 |
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g. |
No. of Employees |
: |
Approx.
06 |
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a. |
Registration No |
: |
-Not Disclosed- |
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b. |
Date of Registration |
: |
-Not Disclosed- |
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c. |
Registered Office |
: |
# 132, 4th Cross street, Colombo 11 |
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d. |
Proprietor |
: |
Chandrasekaran |
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e. |
Auditors |
: |
-Not Disclosed- |
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f. |
Company Secretaries |
: |
-Not Applicable for this category of Companies |
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g. |
Bankers |
: |
Not Disclosed |
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- Most recent available Financial Information
The proprietor was contacted but he declined operational or financial details without the identity of the end user of the enquiry.
It should be noted
that the particular industry segment the company is involved has very Good
Growth potential and as such it can be expected for the company to expect a
good income Prospects
(Note: Based on the corporate laws of Sri Lanka,
business entities which are Private Company with Limited Liability/
partnerships / proprietorships are not required to make public disclosure of
Their annual Financials. Therefore no financials are available for this entity)
The subject company, PONVIN TRADERS is Proprietorship Company, in operation.
Our investigators visited the subject company located at the client, since no contact number is made available (subject not even listed in the tele directory) and contacted the proprietor. He provided basic details of the company but declined operational details without the identity of the end user of the enquiry.
(The Proprietorship/Partnership companies are being registered at the Provincial
Registrar of Companies ( in this case Colombo)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.)
The Subject Company is located at the client given address # 132, 4th Cross Street, Colombo
11, a highly Commercial/business area. This is a 2-stories building and seem to be
having good Business.
General
The subject company primary line of business is Import & Distributors of Food items
Products
Onions, Garlic, Rice, lentils, gram (Green & Yellow) etc
Import Country
China, India, Pakistan
No of Employees
Approx. 06
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
MANAGEMENT NON CO-OPERATIVE
TEL NO.: 00094112338302
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
LKR |
1 |
Rs.0.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Information
Gathered by : |
SUV |
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Analysis Done by
: |
DIV |
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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 |
|
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.