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Report No. : |
355843 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MUBRAK TRADING COMPANY |
|
|
|
|
Registered Office : |
# 293, Vincent Perera Mawatha, Colombo 14 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
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Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Partnership Company (In
Operation) |
|
|
|
|
Line of Business : |
Exporters and Distributors of
spices and Sri Lankan produces |
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|
|
|
Employees: |
Approx. 10 |
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 – 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 |
|
a. |
Name of Subject of Inquiry |
: |
MUBRAK TRADING
COMPANY |
|
b. |
Legal Form & Status |
: |
Partnership
Company (In Operation) |
|
c. |
Managing Partner |
: |
A.H.M.
Najimudeen |
|
d. |
Primary Line of Business |
: |
Exporters
and Distributors of spices and Sri
Lankan produces |
|
e. |
Head Office & Place of Business |
: |
# 293, Vincent
Perera Mawatha, Colombo 14 Sri Lanka. Tel. No: (00 94 11) 233 6407 Fax. No: (00 94 11) 232 9897 Email: mubespo@sltnet.lk Contact Person: Mr. Raswin (Manager) |
|
g. |
No. of Employees |
: |
Approx. 10 |
|
a. |
Registration No |
: |
-Not Disclosed- |
|
|
b. |
Date of Registration |
: |
-Not Disclosed- |
|
|
c. |
Registered Office |
: |
# 293, Vincent
Perera Mawatha, Colombo 14 |
|
|
d. |
Partners |
: |
A.H.M.
Najimudeen |
Managing Partner |
|
Naushad
Najimudeen |
Partner |
|||
|
e. |
Auditors |
: |
-Not Disclosed- |
|
|
f. |
Company Secretaries |
: |
-Not Applicable
for this category of Companies |
|
|
g. |
Bankers |
: |
Nation Trust
Bank |
|
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)
History.
The subject company, MUBRAK TRADING COMPANY is Partnership Company, in operation.
Our investigator has contacted the
proprietor and 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.)
Location
The Subject Company is located at the client # 293, Vincent Perera Mawatha, Colombo
14, a highly Commercial/business area.
Operational
Details.
General
The subject company primary line of business is Export & Distributors of Spices and Sri Lankan Produces.
Products
Spices such as cinnamon, cloves, nutmeg, mace, Pepper, Tamarind, Goraka
(Garcinia)
Tea (Black and value added tea)
rubber (sheet and crepe)
Coconuts, Cashew nuts, Arecanuts etc.
Export Country
China, India, Pakistan, middle east, Malaysia
No of Employees
Approx. 10
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.
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
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.