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Report No. : |
300723 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AKIDHMA INTERNATIONAL (PVT) LTD |
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Registered Office : |
#
186/A, Meewaladiniya Handessa, Kandy |
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Country : |
Sri Lanka |
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Date of Incorporation : |
20.11.2012 |
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Com. Reg. No.: |
PV 89451 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporters of Tea Spices, Coconut Products, Fresh Vegetables, Fruits, Seafood, Batik Fabric, Silk Fabrics, Wall Arts & Crafts |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
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 |
: |
AKIDHMA INTERNATIONAL
(PVT) LTD |
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Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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Managing Director |
: |
A.J. Mohamed Inshaf |
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Primary Line of Business |
: |
Manufacturer and
Exporters Of tea spices, coconut products, fresh vegetables, fruits, seafood,
batik fabric, silk fabrics, wall arts & crafts |
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Place of Business |
: |
# 186/A, Meewaladiniya, Handessa, Kandy, Sri Lanka. Tel: (00 94 75) 889 8922 Fax: (00 94 81) 231 0042 E-mail:- info@kandyangoods.com |
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No. of Employees |
: |
Not Disclosed |
Registration and Shareholder
Details
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Registration No |
: |
PV 89451 |
||
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Date of Registration |
: |
20th November 2012 |
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|
Registered Office |
: |
# 186/A, Meewaladiniya
Handessa, Kandy, Sri Lanka. |
||
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Board of Directors As at 20th November 2012 |
: |
A.J. Mohamed Inshaf |
Managing Director |
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Issued Share Capital |
: |
Rs. 1,000.00 |
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Number of Shares |
: |
100 |
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Nominal Value of Share |
: |
Not applicable/declared vide Companies Act #7 of 2007 |
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Share Holders As at 20th November 2012 |
: |
Share Holders |
No. Of. Shares |
|
|
A.J. Mohamed Ashfaaq |
75 |
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A.J. Mohamed Inshaf |
25 |
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Auditors |
: |
Not Disclosed |
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Company Secretaries |
: |
Expert Business Consultants (Pvt) Ltd (# 20/14, First Floor, Abdullah Centre, Symonds Road, Maradana,
Colombo 10) |
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Bankers |
: |
Not Disclosed |
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Most recent available Financial
Information
THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
Based on the corporate laws
of Sri Lanka, legal entities which are Private Company with Limited
Liability is not required
to make public disclosure of their annual financials. Therefore no financials
Are Available for this
entity
·
History.
The Subject Company AKIDHMA
INTERNATIONAL (PVT) LTD is a Private Limited Liability Company
incorporated on 20th November 2012
under registration number PV 89451.
Akidhma
International Pvt. Ltd is a member company of Akidhma Group.
Akidhma Group of Companies
·
AkidhmaInternationalPrivateLimited.
·
AkidhmaTeaandSpicesExportPrivateLimited.
·
TharukiInternationalPrivateLimited.
·
Tharuki
Agro Solutions Private Limited
·
Location.
The Subject Company is located at the client # 186/A, Meewaladiniya
Handessa, Kandy
·
Operational Details.
General
The subject
company primary line of business is Manufacturer and Exporters Of tea spices,
coconut products, fresh vegetables, fruits, seafood, batik fabric, silk
fabrics, wall arts & crafts.
Products
Tea Spices,
Coconut Products, Fresh Vegetables, Fruits, Seafood, Batik Fabric, Silk
Fabrics, Wall Arts & Crafts.
Countries
India,
China
No of Employees
Not
Disclosed
Director Details
01)
|
Name |
A.J. Mohamed Inshaf |
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ID Number |
902250425 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
12th August 1990 |
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Age |
24 Years |
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Address |
# 186/A, Meewaladiniya, Handessa, Kandy |
Trade references
The subject company did not
provide any trade reference referrals
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.62.97 |
|
UK Pound |
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.