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Report No. : |
346195 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEST MARKETING |
|
|
|
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Registered Office : |
# 94, Old Moor Street, Colombo 12 |
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|
|
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Country : |
Sri Lanka |
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|
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Date of Incorporation : |
Not Available |
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Legal Form : |
Proprietorship Company |
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|
|
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Line of Business : |
Import, Export & Distributors of Food Items, Sri Lankan Spices and Commission Agents |
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No. of Employees : |
Approximately 05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
Basic
information at a glance
|
a. |
Name of Subject of Inquiry |
: |
BEST MARKETING |
|
b. |
Legal Form
& Status |
: |
Proprietorship Company (In
Operation) |
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c. |
Managing Proprietor |
: |
Al Haj A.M. Thajoor |
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d. |
Primary Line of Business |
: |
Import, Export & distributors of Food items, Sri Lankan
spices and Commission Agents |
|
e. |
Office & Place of Business |
: |
# 94, Old Moor Street, Colombo 12 Sri Lanka. Tel. No: (00 94 11) 474
0402, Fax No: (00 94 11) 232 1616 Mobile: (00 94 77) 227 3744 (Mr. Thajoor) (00 94 71) 416 5452 E-mail: bestmarketin@yahoo.com
|
|
f. |
No. of Employees |
: |
Approx. 05 |
Registration
and Shareholder Details
|
a. |
Registration No |
: |
Not disclosed |
||
|
b. |
Date of Registration |
: |
Not disclosed |
||
|
c. |
Registered Address |
: |
#94, Old Moor Street,
Colombo 12 Sri Lanka. |
||
|
d. |
Proprietor |
: |
Al Haj A.M. Thajoor |
Managing Proprietor |
|
|
e. |
Auditors |
: |
Not disclosed |
||
|
f. |
Bankers |
: |
Not disclosed |
||
Most recent available
Financial Information
The
company has declined to provide information on its finances without the
identity of the end User as they having a fear that the information will go to
competitors and other agencies.
Therefore, it should be noted
that the particular industry/trading segment the company is involved has good
growth potential and as such it can be expected for the company to have
a steady growth in income
(Note: Based on the corporate
laws of Sri Lanka, legal entities which are Private Company with
Limited
Liability/Partnerships/Proprietorships is not required to make public
disclosure of their Annual
Financials. Therefore no
Financials are available for this entity)
·
History.
The Subject Company BEST MARKETING is Proprietorship Company in operation.
The owner of the Subject Company provided
limited company details but declined to provide establishment and financial
details
(Note: The Proprietorship/Partnership Companies
are registered at the Provincial Registrar of
Companies (Colombo) and as the management
declined to provide registration details it is not possible to trace company
details at the Registrar’s office since the are not in orderly manner.)
·
Location.
The Subject Company is located at the client #94, Old Moor Street, Colombo 12, a highly
commercial area in the city.
·
Operations
Details.
General
The subject company primary line of business
is importing of food items, exporting of Sri Lankan Spices & distribution.
Subject is also a Commission Agent.
Products
Import of Food items such as Rice
Exporting of Sri Lankan spices such as
cinnamon, pepper, nutmeg, mace, cloves, turmeric.
Importing Countries
Food items from Pakistan, and India
Exporting Countries
Spices
exported to India, Pakistan, and Middle East
Employees
Approx. 05
General
Comments
The subject company when contacted provided
limited information to prepare this report
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
|
Name : |
Mr. Thajoor |
|
Designation : |
Proprietor |
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Contact No.: |
(009477) 2273744 |
|
Date : |
24.10.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
UK Pound |
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
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|
|
|
Analysis Done by
: |
RAS |
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|
|
|
Report Prepared
by : |
TRU |
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 |
|
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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 |
-- |
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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.