MIRA INFORM REPORT

 

 

Report No. :

487656

Report Date :

01.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RED WILLOW (PVT) LTD

 

 

Registered Office :

# 20/1A, Reservoir Road, Colombo 09

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

07.01.2016

 

 

Com. Reg. No.:

PV111093

 

 

Legal Form :

Private, Limited Liability Company (In Operation)

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

 

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured 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

(30.06.2017)

Current Rating

(30.09.2017)

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 an IMF program. 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 almost 80% of GDP and remains among the highest of the emerging markets.

The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

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

 

a.

Name of Subject of Inquiry

RED WILLOW (PVT) LTD

b.

Legal Form & Status

Private, Limited Liability Company (In Operation)

c.

Managing Director

Mr Mohamed Fareez Mohamed Fawaz

d.

Primary Line of Business

NA

e.

Principal Place of Business

# 20/1A , Reservoir Road, Colombo 09, Sri Lanka.

Sri Lanka.

Tel. No: (00 94 11) NA Fax. No: (00 94 11) NA

E-Mail: NA Web Site: NA

f.

Employees

Approximately

 

 

Company Details

 

a.

Registration No

PV 111093

 

 

Date of Registration

07th January 2016

b.

Re-registration No

NA

 

 

Date of Re-registration

NA

c.

Registered Office

# 20/1A , Reservoir Road, Colombo 09, Sri Lanka.

d.

Director Board / Ownership As At 30th December 2015

Mohamed Fareez Mohamed Fawaz

Director

e.

Sated Share Capital

NA

f.

No. of Shares

100

g.

Preferential Shares

NA

h.

Nominal Value of Share

NA

i.

Auditors

NA

j.

Company Secretaries

Riza Bahulani Mohamed Shanawas Bammana, Narangoda, Sri Lanka.

k.

Main Bank/s

NA

 

 

Shareholders

 

NO.

 

NAME

NUMBER OF SHARES

1.

Mohamed Fareez Mohamed Fawaz

100

 

 

FINANCIAL DETAILS    

 - Most recent available Financial Information

 

NA

 

 

CURRENT INVESTIGATION

 

NA

 

Company Logo

 

 

·         HISTORY

 

The subject company was initially formed on 07th January 2016 under PV 111093 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

 

 

·         OPERATIONAL DETAILS

 

General

We are unable to locate the company nor get any contact details of the company. Given herewith are all the details at ROC which is available at present.

 

Products & Services

NA

 

Employees

Approximately

 

Export Countries

NA

 

Import Countries

NA

 

Associate / Subsidiary Companies

NA

 

Factory / Warehouse and Sales Outlets

NA

 

 

Personal Details of Key Persons

 

Director 1

 

ITEM

DETAIL

 

Name

Mohamed Fareez Mohamed Fawaz

ID Number

853650501V

Nationality

Sri Lankan

Gender

Male

Date of Birth

30th December 1985

Age

32 Years

Address

# 20/1A , Reservoir Road, Colombo 09, Sri Lanka.

 

 

INFORMATION Declined 

 

UNABLE TO CONTACT

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.69

UK Pound

1

INR 90.35

Euro

1

INR 79.21

LKR

1

INR 0.41

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

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.