MIRA INFORM REPORT

 

 

Report No. :

504860

Report Date :

04.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SIRANYEEVI

 

 

Registered Office :

# 11, Old Nuge Road, Peliyagoda

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

2015

 

 

Legal Form :

(In Operation) Partnership Company

 

 

Line of Business :

·         Import food items such as potato, onion, chili, garlic and dhal

·         The company is also a trader and commission agent.

 

 

No. of Employees :

6

 

 

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

SIRANYEEVI

Legal Form & Status

(In Operation) Partnership Company

Managing Partner

Mr A thulasithasan

Primary Line of Business

Import food items such as potato, onion, chili, garlic and dhal

Principal Place of Business

# 17, 4th cross street Colombo 11 Sri Lanka

Phone : (00 94 77) 7649733 - Mr Wijesundaram,

Fax : (00 94 11) NA

E-Mail: athulasithasan@gmail.com

Web Site: NA

Employees

Approximately Permanent staff 06

 

 

Company Details

 

Date of Registration

2015

Re-registration No

NA

Date of Re-registration

NA

Registered Office

# 11, OLD NUGE ROAD, PELIYAGODA, Sri Lanka

Director Board / Ownership As At 30.04.2018

A thulasithasan

Managing Partner

 

 

T Sandirawadana

Partner

Stated Share Capital

NA

No. of Shares

NA

Preferential Shares

NA

Nominal Value of Share

NA

Auditors

Metro Associates

Company Secretaries

NA

Main Bank/s

Bank of Ceylon Pettah branch, Cargills Bank old moor street branch

 

 

Shareholders - NA

 

 

FINANCIAL DETAILS    

Most recent available Financial Information

NA

 

 

CURRENT INVESTIGATION

 

NA

 

Company Logo

 

Operational Details.

 

General

The subject company is a partnership located in the trading hub of Sri Lanka. The company is into importing of Food items from India and China for wholesale of these food items. The company is also a trader and commission agent. The company has been very helpful in providing the required details of its operations but has zero web presence and is a small scale operation.

 

Products & Services

Potatoes, Chili, Garlic, Onions, Dhal

 

Employees

06 Approximately

 

Export Countries

NA

 

Import Countries

India & China

 

Associate / Subsidiary Companies

NA

 

Factory / Warehouse and Sales Outlets

Owned

 

 

INFORMATION DENIED

 

Management non co-operative [(00 94 77) 7649733]

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.61

UK Pound

1

INR 90.60

Euro

1

INR 79.86

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.