MIRA
INFORM REPORT
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Report Date : |
16th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
DKW
PLASTIC INDUSTRIES |
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Registered Office : |
187, Dimbulla Road, Hatton, Sri Lanka. |
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Country : |
Sri
Lanka |
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Date of Incorporation : |
03.05.2000 |
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Com. Reg. No.: |
N (PVS) 26008 |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufactures of Polythene Films. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
GENERAL - Basic information at a glance
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Name of Subject of Inquiry |
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DKW PLASTIC INDUSTRIES (PVT) LTD |
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Legal Form & Status |
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Private Limited
Liability Company (In Operation) |
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Managing Director |
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Mr. D.K.Weeratunge |
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Primary Line of Business |
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Manufactures
of Polythene Films. |
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Place of Business & Factory |
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# 187,
Dimbulla Road, Hatton. Tel. No: (00 94 051) 222 2117 Fax No: (00 94 051) 222 2324 |
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Sales Centre |
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# 574, S.D.S Jayasinghe Mawathe, Kohuwela. Tel. No: (00 94 051) 222 2324 Fax No: (00 94 051) 228 5051 |
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No. of Employees |
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Approximately 200 |
COMPANY DETAILS - Registration and Shareholder Details
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Registration No |
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N (PVS) 26008 |
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Date of Registration |
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03rd May 2000 |
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Registered Office |
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187, Dimbulla Road, Hatton, Sri Lanka. |
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Board of Directors As At 23rd Feb 2006 |
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Mr.D.K.Weeratunge |
Managing Director |
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Mr. M.A. Abdul Kasim |
Director |
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Mr. D.K. Athula Kithsiri Weeratunge |
Director |
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Authorised Share Capital |
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Rs. 55,000,000.00 |
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Issued Share Capital |
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Rs.
40.00 |
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Nominal Value of Share |
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Rs.
10.00 |
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Share Holders As At 31st Dec 2005 |
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Share Holders |
No. of Shares |
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Mr.D.K.Weeratunge |
02 |
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Mr. M.A. Abdul Kasim |
01 |
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Mr. D.K. Athula Kithsiri Weeratunge |
01 |
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Auditors |
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D.H.P.
Munaweera & Company |
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Company Secretaries |
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Corporate management Consultants & Services
(Pvt) Ltd |
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Bankers |
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-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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Revenue |
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Cost of Sales |
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Gross Profit |
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Other Income |
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Operating income
/ (Expenses) |
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Administration Cost |
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Distribution Cost |
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Finance & Other Cost |
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Net Profit /
(Loss) before Tax |
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Taxation |
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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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Non-current Assets |
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Current Assets |
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Non Current Liabilities |
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Current Liabilities |
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Total Liabilities |
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Total Assets |
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Net
Worth |
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CURRENT INVESTIGATION
The Subject
Company DKW PLASTIC INDUSTRIES (PVT) LTD is a Private Limited Liability Company
incorporated on 03rd May
2000. The subject company’s Head Office is located at the client given
address # 187, Dimbulla Road, Hatton,
Sri Lanka.
The subject company DKW PLASTIC INDUSTRIES (PVT) LTD, primary line of business is Manufacturing Polythene Film approximately 95% for the Local Industry and the balance 5% export to USA/ UK as per their client’s specifications and requirements. The subject company has a Sales outlet located at # 574, S.D.S. Jayasinghe Mawatha, Kohuwala, Sri Lanka. All Raw Material Imports of the subject company for production is mainly from India and Middle East countries. The subject company factory location is located amongst Sri Lanka’s High grown Tea plantations.
The total employee strength of the subject company is approximately 180 to 200 employees.
The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from informal sources but clearly originating from the 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 promoters 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 provided no trade reference referrals either.
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 |