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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

505836

Report Date :

26.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

A G P TRADERS

 

 

Registered Office :

# 45, Kirindiwita Road, Udugampola

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

07.05.2003

 

 

Com. Reg. No.:

WY 2204

 

 

Legal Form :

Proprietorship Company (In Operation)

 

 

Line of Business :

Importers & Distributors Food Items

 

 

No. of Employees :

Approximately 21

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SRI LANKA - ECONOMIC OVERVIEW

 

Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.

In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.

Tourism has experienced strong growth during recent years following the resolution 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.

 

Source : CIA

 

Company Profile

 

Basic Information

 

Name of Subject of Inquiry

A G P TRADERS

Legal Form & Status

Proprietorship Company (In Operation)

Proprietor

Mr A G Piyasena

Primary Line of Business

Importers & Distributors Food Items

 

# 27A, 8th Canal Road, Dambulla,

 

Sri Lanka

 

Tel. No: (00 94 66) 228 3041 Anusha, 228 4918 / +94768337017 - A G Piyasena

Principal Place of Business

Fax No: (00 94 66) 228 3041 Email: agptraders@gmail.com Shop:

# A-3-8, Economic Trade Centre, Dambulla, Sri Lanka. Tel. No: (00 94 66) 228 5021

Employees

Approximately 21

 

 

Company Details

 

Registration No

WY 2204

Date of Registration

2003.05.07

Registered Office

# 45, Kirindiwita Road, Udugampola , Sri Lanka.

Proprietor

A G Piyasena

Proprietor

Auditors

Not Disclosed

Company Secretaries

Not Disclosed

Main Bank/s

Hatton National Bank Plc

 

 

FINANCIAL DETAILS     

 

Most recent available Financial Information

 

 

Note: Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

 

CURRENT INVESTIGATION

 

• History.

 

The subject company, AGP TRADERS is PROPRIETORSHIP Company registered under the Provincial Councils Act for Company Registrations via the Provincial Councils for SME sector. The company is registered under WY 2204 on 07th May 2003 and is a company importing food items.

 

 

•   Operational Details.

The subject company AGP Traders is a company importing and distributing Onions (Big & Red) + other food items such as Potatoes etc... The company is located at one of the main economic hubs in Sri Lanka

 

 

• Location

 

The subject company is located at # 27A, 8th Canal Road, Dambulla, a prominent business center (The Economic Trading Hub of North Eastern Province) approx. 150 kilometers from Colombo. The, # 45, Kirindiwita Road, Udugampola. Sri Lanka is the registered address of the Company and also the residence of the proprietor.

 

 

General

The subject company primary line of business is Import & distribution of all kinds of Food Items, The company has always been helpful in providing details and the owner is at present in India.

 

Products

Potatoes, Onions, Garlic.

 

Importing Countries

China, India, Pakistan

 

Employees

Approximately 21

 

 

INFORMATION DENIED BY

 

Name :

Ms. Anusha

Designation :

Not divulged

Contact No.:

(00 94 66) 228 4918 / +94768337017

Date :

25.04.2018

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

LKR

1

INR 0.42 

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Information gathered by :

KAM

 

 

Analysis Done by :

NIY

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.