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MIRA INFORM REPORT
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Report No. : |
485418 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SHIMRA GEM INTERNATIONAL |
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Registered Office : |
# 6/1 Wadugoda Road, China Fort, Beruwala |
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Country : |
Sri Lanka |
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Date of Incorporation : |
10.07.2001 |
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Com. Reg. No.: |
WKK3792 |
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Legal Form : |
Partnership Company |
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Line of Business : |
Subject is engaged in Gem Exports |
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No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
Profile
Basic
Information
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a. |
Name of Subject of
Inquiry |
SHIMRA GEM
INTERNATIONAL |
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b. |
Legal Form &
Status |
Partnership
Company (In Operation) |
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c. |
Managing Partner |
Mr
Mohamed zubair mohamed suhair |
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d. |
Primary Line of
Business |
Gem
Exports |
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#
6/1 WADUGODA ROAD, CHINA FORT, BERUWALA, |
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Sri
Lanka. |
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Tel.
No: (00 94 11) 34-22 77065/0779748439/034-2298555/ +94 773019390 |
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e. |
Principal Place of Business |
Fax. No: (00 94 11) NA E-Mail: sunet@yahoo.com Web
Site: NA |
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f. |
Employees |
Approximately
2 |
Company
Details
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a. |
Registration No |
WKK3792 |
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Date of Registration |
2001/07/10 |
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b. |
Re-registration No |
NA |
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Date of Re-registration |
NA |
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c. |
Registered Office |
# 6/1 WADUGODA ROAD, CHINA FORT, BERUWALA, SRI LANKA |
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d. |
Director Board / Ownership As At 13.10.2016 |
Mohamed zubair mohamed suhair |
Partner |
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Mohamed ashraf ahamed Marzook |
Partner |
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e. |
Sated Share Capital |
NA |
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f. |
No. of Shares |
NA |
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g. |
Preferential Shares |
NA |
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h. |
Nominal Value of Share |
NA |
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i. |
Auditors |
Mr Imthag Ali |
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j. |
Company Secretaries |
NA |
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k. |
Main Bank/s |
Commercial Bank of Ceylon PLC, Bank of Ceylon |
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Shareholders
- NA
FINANCIAL
DETAILS
- Most recent available Financial Information
NA
CURRENT
INVESTIGATION
NA
Company Logo
• History.
The subject company was initially formed on 2001 July 10th under WKK3792
under the Provincial Councils Act of Sri Lanka. The subject company in this
instance was registered via the Provincial Council of Beruwala-Aluthgama Sri
Lanka.
• Operational Details.
General
The subject company is actually a private
business of two partners, operating from the southern Province of Sri Lanka,
but mainly into exports and providing foreign travelers with Gem buying
opportunities. The company exports gems to various markets overseas.
Products
& Services
Gem Stones
Employees
02 Approximately
Export
Countries
India
Import
Countries
NA
Associate
/ Subsidiary Companies
NA
Factory
/ Warehouse and Sales Outlets
Owned
INFORMATION
DENIED by
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Name : |
Mohamed Marzook |
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Designation : |
Partner |
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Contact No.: |
0094-779748439 |
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Date : |
29.01.2018 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.75 |
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1 |
INR 89.39 |
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Euro |
1 |
INR 78.54 |
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LKR |
1 |
INR 0.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Information
Gathered by : |
SUP |
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Analysis Done by
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PRI |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.