|
Report No. : |
340052 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMMAR INTERNATIONAL |
|
|
|
|
Registered Office : |
No. 107, 2nd Cross Street, Colombo - 11 |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Partnership Company |
|
|
|
|
Line of Business : |
Trader and Importer of textile, household items, readymade garments, artificial flower. |
|
|
|
|
No. of Employee : |
Approx. 06 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 |
- Basic information at a glance
|
a. |
Name of Subject of Inquiry |
: |
AMMAR INTERNATIONAL |
|
b. |
Legal Form & Status |
: |
Partnership
Company |
|
c. |
Managing Partner |
: |
Mr. Hassan |
|
d. |
Primary Line of Business |
: |
Trader and Importer of textile, household items, readymade garments,
artificial flower. |
|
e. |
Place of Business
|
: |
No. 107, 2nd Cross Street, Colombo - 11 Sri Lanka. Tel. No: (00 94 11) 234 1905/ 244 6569 Mobile: (00 94 77) 756 9403 –Mr. Hassan Email: mr.ammar7@gmail.com |
|
f. |
Number of Employees |
: |
Approx. 06 |
- Registration and Shareholder Details
|
a. |
Registration No |
: |
Not Disclosed |
|
|
b. |
Date of Incorporation |
: |
2003 |
|
|
c. |
Registered Address |
: |
No. 107, Metro
Market, 2nd Cross Street Colombo - 11 |
|
|
d. |
Partners. |
: |
Mr. A.P.M.
Hassan |
Partner |
|
Mr. Mohamed P.
M. Rozak |
Partner |
|||
|
|
|
: |
Mr. P.L.M. Nazar
|
Partner |
|
e. |
Auditors |
: |
SMJ Associates |
|
|
f. |
Company Secretary |
: |
Not applicable
for this category of companies |
|
|
g. |
Bankers |
: |
Bank of Ceylon,
Colombo |
|
|
h. |
Trading terms |
: |
Purchasing
Terms: Cash, Cheque and Credit Sales Terms : Cash, Cheque and
Credit |
|
|
i. |
Type of customers |
: |
Wholesalers,
retailers, End Users |
|
-
Most recent available Financial Information
The SUBJECT COMPANY declined to disclose
financial, without knowing the identity of the end user as they are fearing
that the details will go to wrong hands or the
Competitors
However,
it should be taken in to consideration that the particular industry/trading
segment the Company involved has a very good growth potential and as such it
can be expected for the Company to have good income prospects.
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
The Subject Company, AMMAR
INTERNATIONAL is a partnership company.
The subject company is an importer and distributor of textiles for the
Sri Lanka market
The subject company has declined to disclose any operational or
financial information and as such all information in this report has been obtained
from other non-formal sources but clearly originating form the company
(Note: The Proprietorship/ Partnership companies are being registered at
the Provincial Registrar of Companies (in this instance Western Province,
Colombo) and when the owner does not provide the registration details it is not
possible to extract such details from the Registrar’s office, to enable us the
verify the company establishment details.)
The subject company AMMAR
INTERNATIONAL is located at the
client #107, 2nd Cross Street Colombo - 11, a highly business area in Colombo city
General
The main line of business of the subject company is Import, and supplying of textiles
Products/Services
All types of textiles
Importing
Countries
India, China
No.
of Employees:
Approx.06
The Subject Company did not provide any trade reference referrals
either.
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.
(General Details)
|
Name : |
Mr. Hassan |
|
Designation : |
Partner |
|
Contact No.: |
(00 94 11) 234 1905/ 244 6569 |
|
Date : |
15.09.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.50 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.