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Report No. : |
321918 |
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Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
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Name : |
COMMODITIES IMPORTERS |
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Registered Office : |
181/25, White Park, Colombo 10. |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Proprietorship Company |
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Line of Business : |
Subject is Import & Distributors & general merchants of Agri foods & commodities |
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No. of Employee : |
Not Available |
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 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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
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a. |
Name of Subject of Inquiry |
: |
COMMODITIES IMPORTERS
|
|
b. |
Legal Form & Status |
: |
Proprietorship Company (In Operation) |
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c. |
Managing Partner |
: |
Fazal Ahamed |
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d. |
Primary Line of Business |
: |
Import &
Distributors & general merchants of Agri foods & commodities |
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e. |
Place of Business |
: |
#
181/25, White Park, Colombo
10. Sri
Lanka. Tel./Fax
No: (00 94 11) 472 0388 Mobile:
(00 94 77) 385 1408 (Mr. Fazal Ahmed Email:
commodities.importers@gmail.com
|
|
f. |
No. of
Employees |
: |
Not
Disclosed |
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a. |
Registration No |
: |
Not Disclosed |
|
|
b. |
Date of Registration |
: |
Not Disclosed |
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c. |
Registered Address |
: |
# 181/25,
White Park, Colombo 10. |
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d. |
Proprietor |
: |
Fazal Ahamed |
Managing Partner |
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e. |
Auditors |
: |
Not Disclosed |
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|
f. |
Bankers |
: |
Not Disclosed |
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The Manager of the when contacted declined to provide details regarding
the Company registration, financials etc but declined financial details without
knowing who the enquiring party is as they have “fear” that the details will go
to their competitors and/or govt. agencies
Based on the corporate laws of Sri Lanka,
legal entities which are Private Companies with
Limited
Liability/Proprietorships/Partnerships is not required to make public
disclosure of their
Annual financials. Therefore no
financials are available for this entity
·
History.
The Subject
Company COMMODITIES IMPORTERS is Proprietorship Company, in operation.
Mr. Fazal was
contacted and he declined to provide establishment details to prepare this
report without knowing the identity of the enquiring party as they need to know
the identity of the enquiring party.
Mr. Fazal stated
that “Wayamba Traders” is also an associate company.
Information supplied by is inserted in this
report.
Note:
The Proprietorship/Partnership
companies are being registered at the Provincial Registrar of Companies
(Colombo) and when the owner/partner refuses to provide company details and /or
not available for contact, it is not possible to extract such details from the
Provincial Registry and also to verify the accuracy of the details.
The Subject Company is
located at # 181/25, White Park, Colombo
10 which is a very
important commercial area.
The client is also the
company’s registered address.
General
The subject company primary
line of business is Import &
Distributors and general merchants of Agri foods & commodities
Product
Rice, sugar, potatoes etc.
·
Import Countries
India, China,
Pakistan
No of Employees
Not Disclosed
Trade References:
Not disclosed
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. Fazal Ahmed |
|
Designation : |
Proprietor |
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Contact No.: |
0009477-3851408 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
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Information
Gathered by : |
MNJ |
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
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 |
|
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.