|
Report No. : |
346297 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKZONOBEL TRADING (PVT) LTD |
|
|
|
|
Registered Office : |
34, Kurishiyani Malwana Lane, Demetagoda, Colombo 09 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
02.03.2015 |
|
|
|
|
Com. Reg. No.: |
PV 104162 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources] |
|
|
|
|
No. of Employee : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka continues to experience strong economic growth following the end of the government's 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, but low tax revenues remain a 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 |
: |
|
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
c. |
Managing
Director |
: |
Jiffry Mohamed |
|
d. |
Primary Line of Business |
: |
Not Available as
this is a newly formed company |
|
e. |
Head office & Place of
Business |
: |
#34,
Kurishiyani Malwana Lane, Demetagoda, Colombo
09. Sri
Lanka Mobile:
(00 94 72) 730 3616 |
|
g. |
No. of Employees |
: |
Not
Disclosed. |
|
a. |
Registration No |
: |
PV 104162 |
|
|
Date of Registration |
: |
02nd March 2015 |
||
|
c. |
Registered Office |
: |
#34,
Kurushiyani Malwana Lane, Dematagoda, Colombo 09 |
|
|
d. |
Board of Directors As At 02nd
March 2015 |
: |
Jiffry Mohamed |
Managing Director |
|
e. |
Issued Share Capital |
: |
Not Stated as the subject is a newly formed
company |
|
|
f. |
No. of Shares |
: |
100 |
|
|
g. |
Nominal Value of Share |
: |
Not applicable/declared vide Companies Act #7 of
2007 |
|
Registration and Shareholder Details Cont…
|
g. |
Share Holders As At 02nd
March 2015 |
: |
Share Holders |
No. of Shares |
|
Jiffry Mohamed |
100 |
|||
|
h. |
Auditors |
: |
Not Stated |
|
|
i. |
Company Secretaries |
: |
Mohamed Thahir Mohamed Jiffry (#63, Meeraniya Street, Colombo 12) |
|
|
j. |
Bankers |
: |
Not Stated |
|
|
Name |
Jiffry Mohamed |
|
ID Number |
912642216 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
20th September 1991 |
|
Age |
24 Years |
|
Address |
#34, Kurushiyani Malwana Lane, Dematagoda,
Colombo 09 |
Most recent available Financial Information
The Subject Company Declined To Provide Information
on Its Finances.
This is a
newly formed company (6 months old) and the owner could not provide details.
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.
·
Location.
The Subject
Company is located at the client #34,
Kurushiyani Malwana Lane, Demetagoda, Colombo 09.
·
Operational
Details.
General
The subject company primary
line of business is not disclosed as it
is recently registered company and the owner could not provide any operational
details.
Employees
Not Disclosed as above
·
Trade references
Not Available. New company
·
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.
Management Non-cooperative (Tel. No. 009472-7303616)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
ASH |
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.