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Report No. : |
320226 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DANDY FABRICA (PVT) LTD |
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Registered Office : |
# 180/5/9, Atthar Mahal Keyzer Street, Colombo 11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
24.10.2014 |
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Com. Reg. No.: |
PV 101709 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is not
available from any sources] |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 |
|
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 |
: |
DANDY FABRICA (PVT) LTD |
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b. |
Legal Form &
Status |
: |
Private Limited
Liability Company |
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c. |
Managing Director |
: |
Kathiravel Raja |
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d. |
Primary Line of Business |
: |
New company/ Not
Disclosed |
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e. |
Head Office & Place of Business |
: |
# 180/5/9, Atthar Mahal, Keyzer Street, Colombo 11, Sri Lanka Tel. No: (00 94 11) Not available. Company niotlisted Fax. No: (00 94 11)
as above |
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g. |
No. of Employees |
: |
Not
Disclosed/Available |
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a. |
Registration No |
: |
PV 101709 |
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Date of Registration |
: |
24th October 2014 |
||
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b.
|
Registered Office |
: |
# 180/5/9,
Atthar Mahal Keyzer Street, Colombo 11, |
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c. |
Board of Directors
As at 24th October 2014 |
: |
Kathiravel Raja |
Managing Director |
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d. |
Issued Share Capital |
: |
Not stated
as it is a new company |
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Number Of Shares |
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100 |
||
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e. |
Nominal Value of Share |
: |
Not
stated vide companies Act #7 of 2007 |
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f. |
Share Holders As At 24th October 2014 |
: |
Share Holders |
Number Of Shares |
|
Kathiravel Raja |
100 |
|||
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g. |
Auditors |
: |
Not
Disclosed- |
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h. |
Company Secretaries |
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Hajiahamed Mohamed Nausha #27/10, Panchikawattha Road, Colombo-10 |
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i. |
Bankers |
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Not
Disclosed- |
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01)
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Name |
Kathiravel
Raja |
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ID Number |
781886149 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
6th July 1978 |
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Age |
37 Years |
Subject has been registered
just about five months ago. Hence no financials available.
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 DANDY FABRICA (PVT) LTD is a Private Limited Liability
Company incorporated on 24th
October 2014 under registration number PV 101709.
Location.
The Subject
Company’s client and the company registered is # 180/5/9, Atthar
Mahal, Keyzer Street, Colombo 11.
Note:
Since it is a newly
registered company and no contact number found, our investigator visited the
above address and found the premise and the entire floor closed. Not even a
name board. People around the place do not know about the company. It is
presumed that the company owners have given this address in anticipation of
operating business from there and may be that the business not commenced as
yet.
Operational Details
General
The details of the
primary line of business of the subject company are not found as it is a newly incorporated
company and directors and/or the shareholder could not be traced as their
address or the contact number not found/not available as it is not listed.
Products
Details not
available as above.
No of Employees
Not
Disclosed/Available as above
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Information
Gather by : |
PRT |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
VNT |
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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.