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Report No. : |
325927 |
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Report Date : |
13.06.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERFASHION (PVT) LTD |
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Registered Office : |
# 84, Udapusellawa, Hawa Eliya, Nuwara Eliya |
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Country : |
Sri lanka |
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Date of Incorporation : |
29.04.2009 |
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Com. Reg. No.: |
PV 67677 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is manufacture of readymade garments |
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No. of Employee : |
700 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Sri lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
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a. |
Name of Subject of Inquiry |
: |
INTERFASHION (PVT)
LTD |
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b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing
Director |
: |
Stephan John Hall |
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d. |
Primary Line of Business |
: |
Manufacture of
Readymade Garments |
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e. |
Head office & Place of
Business |
: |
# 84,
Udapusellawa, Hawa
Eliya, Nuwara
Eliya, Sri Lanka.
Tel. No: (00 94 52) 222 2920 -1 (Ms. Sharom) Fax
No: (00 94 52) 222 2386 E-Mail: info@interfashion.lk |
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g. |
No. of Employees |
: |
Approximately
700 |
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a. |
Registration No |
: |
PV 67677 |
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b. |
Date of Registration |
: |
29th April 2009 |
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c. |
Registered Office |
: |
#
84, Udapusellawa Road, Hawa Eliya, Nuwara Eliya |
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|
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Board of Directors As at 14th October 2012 |
|
Stephan
John Hall |
Managing Director |
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R.Mauri
Andersons |
Director |
||||
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Mi Soo Han |
Director |
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f. |
Issued Share Capital |
: |
Rs.
34,200,000.00 |
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g. |
Nominal Value of Share |
: |
Rs. 10.00 |
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h. |
Share Holders As At 14th October 2012 |
: |
Share Holders |
No. of Shares |
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|
Blanke Textile Asia Limited (Hong Kong) |
3,420,000 |
||||
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i. |
Auditors |
: |
Not Disclosed /
Not Available |
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j. |
Company Secretaries |
: |
S P A Corporate Services (Pvt) Ltd |
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k. |
Bankers |
: |
HSBC, Colombo |
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Name |
R. Maurile Andersons |
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PP Number |
E 7599915 |
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Nationality |
Australian |
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Name |
Stephan John Hall |
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PP Number |
093171400 |
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Nationality |
United Kingdom |
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Name |
Mi Soo Han |
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PP Number |
SQ 0010962 |
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Nationality |
South Korea |
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Location |
Owned |
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Locality |
Commercial |
Most recent
available Financial Information
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 INTERFASHION (PRIVATE) LIMITED is a Private Limited
liability Company incorporated on
29th April 2009 under registration number PV 67677.
·
Location.
The Subject Company is located at the client # 84, Udapusellawa Road, Hawa Eliya, Nuwara Eliya.
General
The subject company primary line of business is Manufacture, Exporter & Distributors of Readymade Garments.
Products
Readymade Items
(Shirt, Trouser, Blouses)
Country
UK and Europe
Countries
Employees
Approximately
700
Payment
Terms (Purchasing and Sales Terms)
Cash and Credit
Type of Customer
Retailers and End User
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
Not Available
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.
|
Name : |
Ms. Sharom |
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Designation : |
Purchasing Department |
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Contact No.: |
000944522222921 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Information
Gathered by : |
MAN |
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|
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.