MIRA INFORM REPORT

 

 

Report No. :

495080

Report Date :

09.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GOODWILL EXPORTS (PVT) LTD

 

 

Registered Office :

# 150, Maha Vidayalaya Mawatha, Colombo 13

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

08.05.2015

 

 

Com. Reg. No.:

PV 105502

 

 

Legal Form :

Private, Limited Liability Company (In Operation)

 

 

Line of Business :

Exporters and Dealers of Iron & Steel Products

 

 

No. of Employees :

10 Approximately

 

 

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

GOODWILL EXPORTS (PVT) LTD

Legal Form & Status

Private, Limited Liability Company (In Operation)

Chairman

Mr Sharon Dharshan Christopher Dawson

Primary Line of Business

Exporters and Dealers of Iron & Steel Products

Principal Place of Business

# 150, Maha Vidayalaya Mawatha, Colombo 13 Phone : (00 94 11) 22471373 Fax : (00 94 11) NA E-Mail: NA

Web Site: NA

Employees

10 Approximately

 

 

Company Details

 

Registration No

PV 105502

Date of Registration

08th May 2015

Re-registration No

NA

Date of Re-registration

NA

Registered Office

# 150, Maha Vidayalaya Mawatha, Colombo 13, Sri Lanka.

Director Board / Ownership As At

15th September 2016

Sharon Dharshan Christopher Dawson

Chairman

 

 

Natasha Dionnie Marina Roy

Director

Stated Share Capital

LKR 20.00

No. of Shares

02

Preferential Shares

NA

Nominal Value of Share

LKR 10.00

Auditors

A B Associates

# 14 B, HK Dharmadasa Mawatha, Peliyagoda, Sri Lanka.

Company Secretaries

Abdul Cader Sithy Nalira

# 185/1 A, Walawwatta , Malwana, Sri Lanka.

 

 

Shareholders

 

NO.

NAME

NUMBER OF SHARES

 

1.

 

Sharon Dharshan Christopher Dawson

 

01

2.

 

Natasha Dionnie Marina Roy

 

01

 

 

FINANCIAL DETAILS

    

Most recent available Financial Information

NA

 

 

CURRENT INVESTIGATION

 

 

Company Logo

 

• History.

 

The subject company was initially formed on 08th May 2015 under PV 105502 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

 

 

•   Operational Details.

 

General

The subject company is into exporting of Scrap metal from Sri Lanka to India, the main consignee being GREEN GLOBE METAL PVT LTD which is based in India. The subject company has its associate company which is a Partnership (as for our existing knowledge) company into importing of Steel and Iron Products from India. The company is a family owned business even though its registered as a Limited Liability entity.

 

Products & Services

Steel and Iron Scrap, Steel and Iron Products (Rods, Bars, Bends, Pipes, TOR Steels)

 

Employees

10 Approximately

 

Export Countries

INDIA

 

Import Countries

INDIA

 

Associate / Subsidiary Companies

GOODWILL STEEL

 

Factory / Warehouse and Sales Outlets

Owned

 

 

Personal Details of Key Persons

 

Director 1

 

ITEM

DETAIL

Name

Sharon Dharshan Christopher Dawson

ID Number

781372153V

Nationality

Sri Lankan

Gender

Male

Date of Birth

16.05.1978

Age

39

Address

# 32 A, Jayawardena Avenue, Dehiwela, Sri Lanka.

 

 

Director 2

 

ITEM

DETAIL

Name

Natasha Dionnie Marina Roy

ID Number

828101358V

Nationality

Sri Lankan

Gender

Female

Date of Birth

05.11.1982

Age

35

Address

# 32 A, Jayawardena Avenue, Dehiwela, Sri Lanka.

 

 

INFORMATION DENIED

 

Management non co-operative [(000 94 11) 22471373]

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.92

UK Pound

1

INR 90.23

Euro

1

INR 80.54

LKR

1

INR 0.42 

 

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

PNM

 

 

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)

 

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