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Report No. : |
324706 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNITED CEYLON VENTURE TRADERS |
|
|
|
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Registered Office : |
# 144, 3/ 1, First Cross Street, Colombo 11. |
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|
|
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Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
10.03.2005 |
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|
|
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Com. Reg. No.: |
W / A 60014 |
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|
|
|
Legal Form : |
Proprietorship Company (In Operation) |
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|
|
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Line of Business : |
Exports, Imports & Distributor of Fresh Fruits, Materials Vehicles and Food Items. |
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|
|
|
No. of Employees : |
Approximately 72 |
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 – 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 |
|
a. |
Name of Subject of Inquiry |
: |
UNITED CEYLON
VENTURE TRADERS |
|
b. |
Legal Form &
Status |
: |
Proprietorship Company (In Operation) |
|
c. |
Proprietor |
: |
A.K.
Subramaniam. |
|
d. |
Primary Line of Business |
: |
Exports, Imports
& Distributor of Fresh Fruits, Materials Vehicles and Food Items. |
|
e. |
Head office & Place of Business |
|
# 144, 3/ 1, 1st
Cross Street, Colombo 11, Sri Lanka. Tel. No: (00 94
11) 239 6146 / 247 2990 Fax No: (00 94
11) 239 6145 E-Mail: uniceyventrade@sltnet.lk Mobile: (00 94
77) 730 8445 - A.K. Subramanian. |
|
f. |
Stores |
: |
# 483, Ferguson
Road, Colombo 15 Tel No: (00 94
11) 252 2108 |
|
# 185/1, New
Kelani Bridge Road, Wellampitiya. Tel No: (00 94
11) 244 9945 |
|||
|
g. |
No. of Employees |
: |
Approximately 72 |
|
h. |
Export |
|
Pakistan, Dubai |
|
i. |
Import |
|
China, America,
Australia, Pakistan, South Africa, India, New Zealand, Indonesia |
|
h. |
Payment Terms |
: |
Purchasing Terms
– L/C and Credit Selling Terms –
L/C and Credit |
|
a. |
Registration No |
: |
W / A 60014 |
|
b. |
Date of Registration |
: |
10th March 2005 |
|
c. |
Registered Office |
: |
# 144, 3/ 1, First Cross Street, Colombo 11. |
|
d. |
Auditors |
: |
R.S. Nadarajah
& Co. |
|
e. |
Company Secretaries |
: |
- Not Applicable for this category of companies |
|
f. |
Bankers |
: |
Pan Asia Banking Corporation, Bank of Ceylon |
The company has declined to provide information on its finances without
the details of the end user of the report.
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
·
History.
The Subject Company UNITED CEYLINCO VENTURE TRADERS
is a Proprietorship Company incorporated on 10th March 2005 under registration number W / A 60014.
·
Location.
The Subject Company is located at the client
# 144, 3/1, First Cross Street, Colombo 11.
·
Operational
Details.
General
o
Company states that
they do not have any trade with India and declined to provide more details
without knowing the end-user of the enquiry.
Imports
Products
Apples, Oranges, Grapes
·
Export Products
Sri Lankan fruits such as Papaya, King Coconut, Pine Apple
·
Import Countries
China, America, Australia, Pakistan, South
Africa, India, New Zealand, Indonesia
·
Export Country
Pakistan, Dubai
·
No of Employees
Approximately 72
·
General
Comments
When the Subject Company was contacted they were very cooperative and polite in providing the information given in this report
·
Trade
references
The subject company provided 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. A.K. Subramaniam |
|
Designation : |
Proprietor |
|
Contact No.: |
(00 94 77) 730 8445 |
|
Date : |
04.06.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.