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MIRA
INFORM REPORT
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Report Date : |
7th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
EARTH CRAFT
(PVT) LTD |
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Registered Office : |
# 30, Victory
Gardens, Hokandara South, Hokandara. |
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Country : |
Sri Lanka |
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Date of Incorporation : |
02nd December 1994 |
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Com. Reg. No.: |
N (PVS) 14028 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporters of Coconut and Coconut Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Moderate
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown
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GENERAL - Basic information at a glance
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Name
of Subject of Inquiry |
: |
EARTH CRAFT
(PVT) LTD |
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Legal Form & Status |
: |
Private Limited Liability Company
(In operation) |
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Managing Director |
: |
Mr. Devinda
Neelan Amarasuriya |
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Primary
Line of Business |
: |
Exporters of Coconut and Coconut Products |
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Head Office & Place of Business |
: |
# 30, Victory
Gardens, Hokandara South, Hokandara, Tel. No: (00 94 11) 553 1101 Fax No: (00 94 11) 553 1102 |
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No. of Employees |
: |
-Not Disclosed- |
COMPANY DETAILS - Registration and Shareholder Details
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a. |
Registration No |
: |
N (PVS) 14028 |
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b. |
Date of Registration |
: |
02nd
December 1994 |
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c. |
Registered Office |
: |
# 30, Victory
Gardens, Hokandara South, Hokandara. |
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d. |
Board Of Directors |
: |
Mr. Devinda
Neelan Amarasuriya |
Managing Director |
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Mrs. Sabrina Janaki Amarasuriya |
Director |
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e. |
Authorised Share Capital |
: |
Rs. 250,000.00 |
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f. |
Issued Share Capital |
: |
Rs. 50,000.00 |
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g. |
Nominal Value of Share |
: |
Rs. 10.00 |
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h. |
Share Holders |
: |
Share Holders |
No. of Shares |
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Mr. Devinda Neelan Amarasuriya |
4,999 |
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Mr. Lucien Rehan Albert Fernando |
01 |
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i.
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Secretaries
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:
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Business
Professionals (Pvt) Ltd |
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j. |
Auditors |
: |
Jayasinghe
& Company |
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k. |
Bankers |
: |
-Not
Disclosed- |
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FINANCIAL DETAILS - Most recent available
Financial Information
THE COMPANY HAS DECLINED TO PROVIDE
INFORMATION ON ITS FINANCES
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A |
Revenue |
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B |
Cost of Sales |
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C |
Gross Profit |
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D |
Other Income |
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E |
Administration
Expenses |
: |
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F |
Distribution
Expenses |
: |
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G |
Financing
(cost)/Income |
: |
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H |
Net Profit /
(Loss) before Tax |
: |
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I |
Income Tax
(expenses)/ Release
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: |
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J |
Net Profit /
(Loss) After Tax: |
: |
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FINANCIAL DETAILS - Most recent available
Financial Information (Cont/d….)
THE COMPANY HAS DECLINED TO PROVIDE
INFORMATION ON ITS FINANCES
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a) |
Non-current
Assets |
: |
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b) |
Investment |
: |
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c) |
Current Assets |
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d) |
Current
Liability |
: |
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e) |
Non-current
liability |
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f) |
Total
Liabilities |
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g) |
Total Assets |
: |
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h) |
Net Worth |
: |
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CURRENT INVESTIGATION
The
Subject Company EARTHCRAFT (PVT)
LTD, is a
Private Limited liability Company incorporated in 02nd December
1994. The subject company is located at the client given address # 30, Victory Gardens, Hokandara South,
Hokandara and also a registered office.
The subject
company EARTHCRAFT (PVT) LTD, primary
nature of business is Exporting coconut based food and beverage products.
When we contacted Mr. Devinda Neelan Amarasuriya the
Managing Director, on numerous occasions and also in spite of sending our
Questionnaire for information he has not responded and making all sorts of
excuses to provide information of the subject company. Since he has refused to
provide any information to prepare this report and declined to disclose any
operational and financial information. When the other Director was approached
who happens to be the Managing Director’s Wife she too declined to disclose any
information from the subject company.
Since no
financial information has been forthcoming from the company, it is not possible
to comment on the merits or otherwise of the company.
No computerised data bases exist to make checks whether the partners or
the company has any legal action or lawsuit initiated against any of them but
informal (but not in-depth) checks do not indicate any such cases in the public
knowledge.
The subject company did not provide any trade reference referrals.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |