MIRA INFORM REPORT

 

 

Report No. :

325531

Report Date :

03.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ALI BROTHERS (PVT) LTD

 

 

Registered Office :

# 228, Layards Broadway, Colombo 14

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

26.04.1995

 

 

Com. Reg. No.:

PV 3399

 

 

Legal Form :

Private Limited Liability Company   

 

 

Line of Business :

Subject is Import and distribute of all kind of Motor vehicles, palm oil and export of rubber

 

 

No. of Employee :

200

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 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.

 

Source : CIA

 

 

GENERAL

 

Basic information at a glance

     

a.

Name of Subject of Inquiry

:

ALI BROTHERS (PVT) LTD             

 b.

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

c.

Managing Director

:

Naeem Mohamed Hyder Ali

d.

Primary Line of Business

:

Import and distribute of all kind of Motor vehicles, palm oil and export of rubber

e.

Head Office

&

Place of Business

 

:

 

# 228, Layards Broadway,

Colombo 14.

Sri Lanka.

 

Tel. No: (00 94 11) 233 0207 – 8 / 243 9493

Fax No: (00 94 11) 254 1104

 

E-mail: alibros@slt.lk

 

f.

No. of Employees

:

Approx.200

 

 

COMPANY DETAILS

 

Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 14843

Date of Registration

:

26th April 1995

b.

Re-registration No

:

PV 3399

Date of Re-registration

:

21st April 2008

c.

Registered Office

:

# 228, Layards Broadway, Colombo 14

d.

Board Of Directors

As At

20th August 2014

:

Naeem Mohamed Hyder Ali

Managing Director

Naeem Mohamed Asad Ali

Director

M. Illyas Mohamed Minhar

Director

M. Naeem Ali

Director

Umar Aliu Hyder Ali

Director

 

 

Registration and Shareholder Details Cont…

 

e.

Issued Share Capital

:

Rs.  91,600,000.00  

Total Issued Shares

:

 9,160,000

f.

Nominal Value of Share

:

Not disclosed/stated vide Companies Act #7 of 2007

g.

Share Holders

As At

20th August 2014

:

 Share Holders

No of Shears

Naeem Mohamed Hyder Ali

4,330,000

Naeem Mohamed Asad Ali

4,330,000

M. Illyas Mohamed Minhar

500,000

h.

Secretaries

:

Seccom (Pvt) Ltd

i.

Auditors

:

Weerasinghe and Company

j.

Bankers

:

Peoples Bank, Bank of Ceylon

 

 

Directors’ Details

 

1)

Name

Naeem Mohamed Hyder Ali

ID Number

600481550 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

17th February 1960

Age

55 Years

Address

#410/12, Galle Road, Colombo 03

 

 

2)

Name

Naeem Mohamed Asad Ali

ID Number

622441955 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

28th August 1962

Age

52 Years

Address

#108, Fife Road, Colombo 05

 

 

3)

Name

M. Illyas Mohamed Minhar

ID Number

713370428 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

2nd December 1971

Age

43 Years

Address

#228, Leyards Broadway, Colombo 14

 

 

4)

Name

M. Naeem Ali

ID Number

752772088 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

3rd October 1975

Age

39 Years

Address

#228, Leyards Broadway, Colombo 14

 

 

5)

Name

Umar Aliu Hyder Ali

ID Number

860082187 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

8th January 1986

Age

29 Years

Address

#410/12, Galle Road, Colombo 03

 

 

FINANCIAL DETAILS

 

Most recent available Financial Information

     

     The company has declined to provide information on its finances without the identity of the end user.

 

      Note: 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

 

                                                        

CURRENT INVESTIGATION                      

 

New Picture (2)

 

 

  • History.

 

The Subject Company ALI BROTHERS (PVT) LTD is a Private    Limited   liability Company incorporated on 26th April 1995 under registration number N (PVS) 14843 and  the company was re-registered on 21st April 2008 under registration number PV 3399.

 

 

  • Location.

 

The Subject Company is located at the client # 228, Leyards Broadway, Colombo 14.

Subject is having several sales centres in and outside Colombo city and outstations Kandy and Wattala. It has a Palm Oil Storage Tank in Wattala.

 

 

  • Operations Details.

 

General

The subject company primary line of business is Import and distribute of all kind of vehicles, palm oil and export of rubber

 

 

Products

Vehicles – HONDA, SUZUKI, TOYOTA, MAZDA, NISSAN, Mitsubishi, ABL Truck, BMW

Natural Rubber- Sheet Rubber

Palm Oil

“Sumatra” Brand Cement

 

 

Import Countries

Motor vehicles imported from Japanese, Korean and Chinese

Palm oil from India, Indonesia

 

 

Exporting Countries:

Europe. Japan, Malaysia, Indonesia, Vietnam

 

 

Employees

Approx.200

   

 

  • Trade references

 

Kobe Motor Company, Japan

The National Chamber of Commerce of Sri Lanka

 

 

  • 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.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Rusby

Designation :

Account Executive

Contact No.:

009411-2330207

Date :

30.05.2015

 

OREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.83

UK Pound

1

Rs.97.10

Euro

1

Rs.69.74

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.