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Report No. : |
304533 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
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Name : |
A J & SONS |
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Place of Business : |
# 141/9, Messenger Street, Colombo-12 |
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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 : |
Not Available |
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Line of Business : |
according to
the information received from the Adjoining Shopkeepers, subject company’s had been Trading Hardware & Ceramics Items |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Not in Operations |
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Payment Behaviour : |
---- |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Sri Lanka |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
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Name of Subject of Inquiry |
: |
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A J & SONS |
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Subject is not
registered at the ROC and it could either be a partnership or proprietorship
company registered at the Provincial Company Registrar. Premises closed for a
long time and not in operation |
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Legal Form & Status |
: |
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Not Available (please see below page 5) |
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As above |
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Proprietor/Partner |
: |
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Not Available (please see below page 5) |
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As above |
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Primary Line of Business |
: |
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Not available (please see below pages 5) |
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Place of Business (Please see below pages) |
: |
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#
141/9, Messenger Street, Colombo-12. Sri
Lanka. Note:
No contact number available as the subject is not listed |
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No. of
Employees |
: |
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Not
Available (please see below page 5) |
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Registration No |
: |
- Not Available- Company premise is closed for a
long time Subject is not
registered at the ROC and it could either be a partnership or proprietorship
company registered at the Provincial Company Registrar. Premises closed for a
long time and not in operation |
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Date of Registration |
: |
- Not Available- Company premise is closed for a
long time As above |
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Registered address (as given by the client) |
: |
#
141/9, Messenger Street, Colombo-12., Sri Lanka- |
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Auditors |
: |
Not Available |
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Company Secretaries |
: |
Not Applicable to this category of companies |
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As above |
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Bankers |
: |
Not Available |
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·
History.
The Subject Company A J & SONS is not listed at the Main ROC and therefore it
could be either a
proprietorship or partnership company.
Our Investigators visited the
client at # 141/9, Messenger Street,
Colombo-12, and found the premise closed for a long time according to the appearance.
Nearby traders have informed our investigator that the company has been closed
for a very long time due to the death of the proprietor. They were unable to
provide any information of the proprietor or any contact number. However they
said that Subject Company has been a hardware & ceramics merchant.
This company is not listed in telephone directories and as such no contact number found.
Note:
The
Proprietorship/ Partnership companies are being registered at the Provincial
Registrar of
Companies
and when the owner does not provide the registration details it is not possible
to
extract
such details from the Registrar’s office.
·
Location.
This subject
company is not listed in telephone directory and no contact number found.
Therefore, our Investigators visited the client
#141/9, Messenger Street, Colombo 12, and found that the premise closed.
·
Operational
Details.
General
The subject company’s
primary line of business had been trading hardware & ceramics items,
according to the information received from the adjoining shopkeepers.
Products
Not Available as above
Imported Country
Not Available as above
Employees
Not Available/company not in operation
·
Financial Data
Company not in
operation at the client given address.
Note:Based on the
corporate laws of Sri Lanka, legal entities which are Private Company with
Limited Liability are not required to make public disclosure of their annual
financials. Therefore no financials are available for this entity
·
Credit
Recommendations
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
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UK Pound |
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.