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Report No. : |
319857 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ORO INTERNATIONAL ACCESSORIES (PVT) LTD |
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Registered Office : |
# 25B/25C, Norris Avenue, Colombo 08 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
11.09.2009 |
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Com. Reg. No.: |
PV 69148 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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Line of Business : |
Manufactures and Distributors of Metal Products |
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No. of Employees : |
Approximately 10 |
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 |
|
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 |
|
a. |
Name of Subject of Inquiry |
: |
ORO
INTERNATIONAL ACCESSORIES (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing
Director |
: |
Desmond Anthony
Peterson |
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d. |
Primary Line of Business |
: |
Manufactures and Distributors of Metal Products |
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e. |
Place of Business & Factory |
: |
# 25B/25C, Norris Avenue, Colombo 08, Sri Lanka. Tel. No: (00 94 11) 436 7070 Email
: oroint@sltnet.lk Contact
Person : (00 94 77) 348 7991 (
Anthony Peterson) |
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f. |
No. of
Employees |
: |
Approximately
10 |
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a. |
Registration No |
: |
PV 69148 |
||
|
b. |
Date of Registration |
: |
11th September 2009 |
||
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d. |
Registered Office |
: |
#
25B/25C, Norris avenue, Colombo 08 |
||
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e. |
Board of Directors As At 31st December 2013 |
: |
Desmond Anthony Peterson |
Managing Director |
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|
Fiona Gwendaline |
Director |
||||
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f. |
Issued Share Capital |
: |
Value not
stated/available |
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g. |
No. of Shares |
: |
02 |
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h. |
Nominal Value of Share |
: |
Not applicable vide Companies Act #7 of 2007
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i. |
Share Holders As At 31st December 2013 |
: |
Share Holders |
No. of Shares |
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Desmond Anthony Peterson |
01 |
||||
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Fiona Gwendaline (Ms) |
01 |
||||
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j. |
Auditors |
: |
Not available |
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k. |
Company Secretaries |
: |
Sarojinie Chandana Kumari Perera Mudalige (#39, Alfred place, Colombo 03) |
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l. |
Bankers |
: |
Not disclosed |
||
Subject Company declined to provide financials without the identity of the end user of the enquiry
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 ORO INTERNATIONAL ACCESSORIES (PVT) LTD is a
Private Limited liability Company incorporated on 11th September 2009 under registration
number PV 69148.
Location
The Subject Company is located at the client # 25B/25C, Norris Avenue, Colombo
08, Sri Lanka.
Operations Details
General
The subject company primary line of business is Specialist in high quality metal buttons & all kinds of garment
accessories supply with machines & technical service.
Products
Buckles, Buttons & metal products.
Import
Countries
Not disclosed
Employees
Approximately 10
Directors Details
01)
|
Name |
Desmond Anthony
Peterson |
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ID Number |
750413358 V |
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Nationality |
SriLankan |
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Gender |
Male |
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Date of Birth |
10th February 1975 |
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Age |
40 Years |
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Address |
#52/A9, Galahitiyawa, Ganemulla. |
02)
|
Name |
Fiona Gwendaline |
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ID Number |
796692634 V |
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Nationality |
SriLankan |
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Gender |
Female |
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Date of Birth |
17th June 1979 |
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Age |
36 Years |
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Address |
#52/A9, Galahitiyawa, Ganemulla. |
·
General Comments
When contacted the Subject Company they refused to give any information of
the Subject Company
·
Trade references
The subject
company did not provide any 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 DENIED BY
|
Name : |
Mr. Anthony Peterson |
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Designation : |
Not Divulged |
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Contact No.: |
(00 94 77) 348 7991 |
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Date : |
06.05.2015 |
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
Gathered by : |
SVA |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
VNT |
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 |
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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 |
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|
-- |
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.