MIRA
INFORM REPORT
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Report Date : |
16th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
EURO
SUBSTRATES PRIVATE LIMITED |
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Registered Office : |
# 37, Wasala Lane, Dehiwela, Sri Lanka. |
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Country : |
Sri
Lanka |
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Date of Incorporation : |
11.02.2000 |
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Com. Reg. No.: |
N (PVS) 25518 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufactures and exports of coir based 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 : |
Clear |
GENERAL - Basic information at a glance
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Name of Subject of Inquiry |
: |
EURO SUBSTRATES (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 |
: |
Mr.C.A.T.A.
Dinesh Fernando |
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Primary Line of Business |
: |
Manufactures
and exports of coir based products. |
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Head office & Place of Business |
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# 90 A,
Pagoda Road, Pitakotte, Tel. No: (00
94 11) 5522772 Fax No: (00
94 11) 5522771 Web : www.vamderknaap.info |
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Factory |
: |
# Gonagama, Vellawa
Road, Wariyapola, Tel. No: (00
94 037) 229 1232 |
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No. of Employees |
: |
Approximately
140 |
COMPANY DETAILS - Registration and Shareholder Details
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Registration No |
: |
N (PVS) 25518 |
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Date of Registration |
: |
11th February 2000 |
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Registered Office |
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# 37, Wasala Lane, Dehiwela, Sri Lanka. |
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Board of Directors As At 07th Jun 2005 |
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Mr.C.A.T.A. Dinesh Fernando (Sri Lankan) |
Managing Director |
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: |
Mr.Ton Van Nieuwkerk (Dutch) |
Director |
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|
: |
Mr.Geerten Valeldir
(Dutch) |
Director |
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Authorised Share Capital |
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Rs. 30,000,000.00 |
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Issued Share Capital |
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Rs.
7,276,540.00 |
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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 2003 |
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Share Holders |
No. of Shares |
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: |
Mr.C.A.T.A. Dinesh Fernando |
356,550 |
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: |
Mr.Ton Van Nieuwkerk (Dutch) |
01 |
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: |
PWR Holdings (Pvt) Ltd |
371,103 |
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Auditors |
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HLB
Edirising & Company |
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Company Secretaries |
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Business mate (Pvt) Ltd |
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Bankers |
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-Not Disclosed- |
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FINANCIAL DETAILS - Most recent
available Financial Information
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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 |
Operating income / (Expenses) |
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F |
Administration
Cost |
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G |
Distribution
Cost |
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H |
Finance
& Other Cost |
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I |
Net Profit / (Loss) before Tax |
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J |
Taxation |
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Net Profit / (Loss) After Tax: |
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THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS
FINANCES
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) |
Current Assets |
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c) |
Non Current Liabilities |
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d) |
Current Liabilities |
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e) |
Total Liabilities |
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f) |
Total Assets |
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g) |
Net
Worth |
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CURRENT INVESTIGATION
The Subject Company EURO SUBSTRATES (PVT) LTD, is a Private Limited Liability Company incorporated on 11th February 2000. The subject company’s Head office and Place of Business is located at the client given address # 90 A, Pagoda Road, Pitakotte, Sri Lanka.
The subject company EURO SUBSTRATES (PVT) LTD, primary line of business is manufacturing coir based products for export to Europe, NorthAmerica, Asia and Newsland This subsidiary company located in Sri Lanka has for production facility and the main facility is known as” grow rite substrates” located at # Gonagama, Vellawa Road Wariyapola, which has it own quality control department and well equipped laboratory. The subject company is the member of the Vander Knaap group of Holland, which specialise in natural solution for rooting and growing.
The employee strength of the subject company is approximately 140 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 |