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Report No. : |
310345 |
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Report Date : |
16.03.2015 |
IDENTIFICATION DETAILS
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Name : |
INDU TRADING (PVT) LIMITED |
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Registered Office : |
# 184A, Central Road, Colombo 12. |
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Country : |
Sri Lanka |
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Date of Incorporation : |
27.04.1998 |
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Com. Reg. No.: |
PV 14121 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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Line of Business : |
Importers and Distributors Oils |
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No. of Employee : |
Not Divulged |
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 : |
No complaints |
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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 |
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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 |
- Basic information at a glance
|
a. |
Name of Subject of Inquiry |
: |
INDU TRADING
(PVT) LIMITED |
|
b. |
Legal Form & Status |
: |
Private Limited Liability
Company (In Operation) |
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c. |
Managing Director |
: |
N. Saravanakumar
|
|
d. |
Primary Line of Business |
: |
Importers and
Distributors Oils |
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e. |
Head Office & Place of Business |
: |
# 184A, Central Road, Colombo 12. Sri Lanka Tele/Fax No: (00 94 11) 233
1453 Mobile No: (00
94 77) 739 3990 ( Mr. Saravana Kumar E Mail: kumar167@yahoo.,com |
|
f. |
No. of Employees |
: |
Not Disclosed |
- Registration and Shareholder Details
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a. |
Registration No |
: |
N (PVS) 21115 |
|
|
Date of Registration |
: |
27th
April 1998 |
||
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b. |
Re-registration No |
: |
PV 14121 |
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Date of Re-registration |
: |
17th
June 2009 |
||
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c. |
Registered Office |
: |
# 184A, Central Road, Colombo 12. |
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d. |
Board of Directors As At 17th June 2009 |
: |
N. Saravanakumar |
Managing Director |
|
M. Vadivel |
Director |
|||
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Issued Share Capital |
: |
Rs.
2,000,000.00 |
||
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Issued Shares |
: |
200,000 |
||
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f. |
Nominal Value of Share |
: |
Not disclosed/declared vide companies Act#7 of
2007 |
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g. |
Share Holders As At 17th June 2009 |
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Share Holders |
No. of Shares |
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N. Saravanakumar |
100,000 |
|||
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M. Vadivel |
100,000 |
|||
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h. |
Auditors |
: |
Aiyar & Company, Charter House, 65/2, Sir
Chittampalam A. Gardiner Mawatha, Colombo 02 |
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|
i. |
Company Secretaries |
: |
Business and
Industrial Consultants (Pvt) Ltd, Charter
House, 65/2, Sir Chittampalam A. Gardiner Mawatha, Colombo 02 |
|
|
j. |
Bankers |
: |
-Not Disclosed- |
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Directors’ Details
1)
|
Name |
Narasingam
Saravanakumar |
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ID Number |
760081337V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
08th January1976 |
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Age |
39 Years |
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Address |
#103, New Chetty
St. Colombo 13. |
2)
|
Name |
Marimuttu
Vadivel |
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ID Number |
533472656V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
12th
December 1953 |
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Age |
61 Years |
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Address |
#25, New Chetty
St. Colombo 13. |
- Most recent available Financial
Information
Mr. Kumar, MD of
the company has declined to provide information, without the identity of the
end user of the enquiry.
(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)
The Subject Company INDU TRADING
(PVT) LIMITED is a Private Limited Liability Company incorporated on 27th April 1998 under the
registration number N (PVS) 21115 and re- registered under the registration
number PV 14121on 17th June 2009.
The Subject Company is located
at the client # 184A, Central Road, Colombo 12, which is a prominent market
place in the city.
General
The subject company’s primary line of business is import and
distribution of Oils.
Products
Vegetable Oil
Palm Oil
No
of Employees
Not Disclosed
Importing Country
India, Singapore, Malaysia
he subject company did not provide any trade
references
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 : |
Mr. Saravanakumar |
|
Designation : |
Director |
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Contact No.: |
094777393990 |
|
Date : |
16.03.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.67 |
|
|
1 |
Rs.93.16 |
|
Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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.