|
Report No. : |
323004 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FASHION FIRE TRADING (PVT) LTD |
|
|
|
|
Registered Office : |
# 52/17, Wolfendhal Street, Colombo 13 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
20.11.2014 |
|
|
|
|
Com. Reg. No.: |
PV 102275 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources. |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
: |
FASHION
FIRE TRADING (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company |
|
d. |
Primary Line of Business |
: |
Not Available as the company could not be
contacted as it not listed in tele directory. |
|
e. |
Principal Place of Business |
: |
#
52/17, Wolfendhal Street, Colombo
13, Sri
Lanka. Tel.
No: (00 94 11) NOT DISCLOSED Fax
No: (00 94 11) NOT DISCLOSED |
|
f. |
No. of Employees |
: |
- Not
Disclosed- |
|
a. |
Registration No |
: |
PV 102275 |
|
|
Date of
Registration |
: |
20th
November 2014 |
||
|
b. |
Registered
Office |
: |
# 52/17, Wolfendhal Street, Colombo 13. |
|
|
c. |
Board of
Directors As At 20th November 2014 |
: |
M. Rafeek Mohamed Ramzan |
Director
|
|
d. |
Issued Share
Capital |
: |
Not available |
|
|
e. |
No of shares |
: |
100 |
|
|
f. |
Nominal Value of
Share |
: |
Not
applicable/declared vide Companies Act #7 of 2007 |
|
|
g. |
Share Holders As At 20th November 2014 |
: |
Share Holders |
No. Of Shares |
|
M. Rafeek Mohamed Ramzan |
100 |
|||
|
h. |
Auditors |
: |
Not
Disclosed |
|
|
i. |
Company
Secretaries |
: |
Hajiahamed Mohamed Naushad (# 27/10, Panchikawatta Road, Colombo 10) |
|
|
j. |
Bankers |
: |
Not
Disclosed |
|
01)
|
Name |
M. Rafeek
Mohamed Ramzan |
|
ID Number |
822052274 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
23rd July 1982 |
|
Age |
33 Years |
|
Address |
#24/10, Kaththota, Nittambuwa. |
The
subject company has been registered just 6 months ago and no financials
available.
(Note: 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 FASHION FIRE TRADING (PVT) LTD is a Private Limited Liability
Company incorporated on 20th
November 2014 under the registration number PV 102275
·
Location.
The client of the subject company is # 52/17, Wolfendhal Street, Colombo
13. Since the
company has been registered just 6 months back, our Investigator Could
not
Trace the given address and still being pursued.
The subject company has also not been listed in any of the telephone
directories and as Such no contact number is available.
·
Operational
Details.
General
The details of the
primary line of business of the subject company is not disclosed as yet
Products
NOT DISCLOSED
Countries
Not Available
No of Employees
- Not Disclosed-
·
Trade
references
Not Available
·
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.
|
Rating: |
|
|
a) Business Scale |
NR |
|
b) Business Trend |
NR |
|
c) Management Capability |
NR |
|
d) Commercial Morality |
NR |
|
e) Reputation |
NR |
|
f) Market Situation |
NR |
Unable to contact company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.94 |
|
|
1 |
Rs. 98.63 |
|
Euro |
1 |
Rs. 69.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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.