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Report No. : |
348739.2 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
WILSON TRADING COMPANY |
|
|
|
|
Registered Office : |
# 104/7, Dam Street, Colombo 12 |
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|
|
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Country : |
Sri Lanka |
|
|
|
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Date of Incorporation : |
09.01.1995 |
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|
|
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Com. Reg. No.: |
WA 8285 |
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|
|
|
Legal Form : |
Partnership Company |
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|
|
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Line of Business : |
Importers and Suppliers of Sugar |
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|
|
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No. of Employee : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Unknown |
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|
|
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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 – 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 |
: |
WILSON TRADING
COMPANY |
|
b. |
Legal Form
& Status |
: |
Partnership
Company (in operation) |
|
c. |
Managing Partner |
: |
L.
Hemantha Jayalath |
|
d. |
Primary Line of Business |
: |
Importers and
Suppliers of Sugar |
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e. |
Head Office & Place of
Business |
: |
#
104/7, Dam Street, Colombo
12, Sri
Lanka Tel.
No: (00 94 11) 243 8950 / 234 3110 /
239 0544-6 Fax No: (00 94 11) 239 0115 Mobile No:(00 94 77) 3085058 – Kasun
Andrahennadi (General Manager) |
|
f. |
No. of Employees |
: |
Approximately 25 |
|
a. |
Registration No |
: |
WA 8285 |
||
|
b. |
Date of Registration |
: |
09th
January 1995 |
||
|
c. |
Registered Office |
: |
#
104/7, Dam Street, Colombo 12, Sri Lanka. |
||
|
d. |
Partners |
: |
L.Hemantha
Jayalath |
Managing Partner |
|
|
L.
S. Priyantha Dayasiri |
Partner |
||||
|
L.
S. Kithsiri |
Partner |
||||
|
N.
Karunasiri Lokumanna |
Partner |
||||
e.
|
Secretaries
|
:
|
-Not Applicable
for this category of companies |
||
|
f. |
Auditors |
: |
-Not Disclosed- |
||
|
g. |
Bankers |
: |
Seylan Bank |
||
01)
|
Name |
L.
H. Jayalath |
|
Sex |
Male |
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Nationality
|
Sri
Lankan |
|
National
ID No. |
600370240
V |
|
Date
of Birth |
06th
February 1960 |
|
Age |
55
Years |
|
Address
|
596/79,
Bandaranayake Mawatha, Anuradhapura. |
02)
|
Name |
L.
S. Priyantha Dayasiri |
|
Sex |
Male |
|
Nationality
|
Sri
Lankan |
|
National
ID No. |
660621750
V |
|
Date
of Birth |
02nd
March 1966 |
|
Age |
49
Years |
|
Address
|
596/79,
Bandaranayake Mawatha, Anuradhapura. |
03)
|
Name |
L.
Saman Kithsiri |
|
Sex |
Male |
|
Nationality
|
Sri
Lankan |
|
National
ID No. |
622792893
V |
|
Date
of Birth |
05th
October 1962 |
|
Age |
53
Years |
|
Address
|
596/79,
Bandaranayake Mawatha, Anuradhapura. |
04)
|
Name |
N.
Karunasiri Lokumanna |
|
Sex |
Male |
|
Nationality
|
Sri
Lankan |
|
National
ID No. |
611831803
V |
|
Date
of Birth |
01st
July 1961 |
|
Age |
54
Years |
|
Address
|
596/79,
Bandaranayake Mawatha, Anuradhapura. |
Most recent available Financial Information
The General
Manager of the company declined to provide financials due to security reasons.
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 WILSON TRADING COMPANY is a Partnership Company incorporated on 09th January 1995 under registration number WA 8285.
(Note: The Proprietorship/Partnership companies are being registered at the Provincial Registrar of Companies and in this case it is the PROC, Western Province, Colombo District Colombo)
Location
The Subject Company is located at the client
# 104/7, Dam Street, Colombo 12, a
highly commercial area
Operations Details.
General
The subject
company’s primary line of business is Import
and Supply of food items such as sugar.
Products
Sugar
Import
Country
Taiwan
and India
No of
Employees
Approximately
25
The subject company did not provide any trade
reference
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. Kasun Andrahennadi |
|
Designation : |
General Manager |
|
Contact No.: |
009411-2438950 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
UK Pound |
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
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.