MIRA INFORM REPORT

 

 

Report Date :

31st May 2006

 

IDENTIFICATION DETAILS

 

Name :

A  B    MAURI LANKA (PVT) LTD

 

 

Formerly Known As :

BURNS PHILIP LANKA PVT. LTD.

 

 

Registered Office :

No. 124, Templers Road, Mount Lavinia, Sri Lanka

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

20th May 1972

 

 

Com. Reg. No.:

PBS 660/ PVS

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importers, Exporters, and Manufactures of Bakery Items

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Status :

Moderate 

 

 

Payment Behaviour :

Unknown 

 

 

Litigation :

Clear

 

 

GENERAL - Basic information at a glance

     

Name of Subject of Inquiry

:

 

A  B    MAURI LANKA (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Chairman

:

Mr. Srinivas Ganapathi (Indian)

Primary Line of Business

:

Importers, Exporters, and Manufactures of Bakery Items. 

Head Office

&

Place of Business

 

:

 

# 124, Templers Road,

Mount Lavinia,

           

Tel. No: (00 94 11) 2731 658 - 9 -60- 61

Fax No: (00 94 11) 2731 662

 

E-mail: info@abmauri.com.lk

 

No. of Employees

:

Approximately 200 

 

 

 

 

           

 

 

                       


 

COMPANY DETAILS  - Registration and Shareholder Details

 

a.

Registration No

:

PBS 660/ PVS

 

b.

Date of Registration

:

20th May 1972

 

c.

Registered Office

:

No. 124, Templers Road, Mount Lavinia, Sri Lanka

 

d.

Board of Directors

As  At

30th December 2004

 

 

Srinivas Garapati  (Indian)

Director

Suranga Geewamalia Abeysekera (Sri Lankan)

Director

Helen Dorothy Golding   (Australian)

Director

e.

Authorised Share Capital

:

Rs.      50,000,000.00

 

f.

Issued Share Capital

:

Rs.      46,776,350.00

 

g.

Nominal Value of Share

:

Rs.                    10.00

 

h.

Share Holders

As At

14th November 2003

:

 Share Holders

No of Shears

Mauri Fermentation India (Pvt) Ltd

(Com. Incorp. In Australian)

4,677,634

Burns Philp International Investment (Pvt) Ltd (Com. Incorp. In Australian)

1

i.

Secretaries

:

Corporate Services Ltd

 

j.

Auditors

:

KPMG Ford, Rhodes, Thornton and Company

 

k.

Bankers

:

-Not Disclosed-

 

 

 

 

 

 

 

 

 

FINANCIAL DETAILS - Most recent available Financial Information

     

    THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

 

 

A

Revenue

:

 

 

B

 Cost of Sales

:

 

 

C

Gross Profit

:

 

 

D

Other Income

 

 

 

E

Administration Expenses

:

 

 

F

Distribution Expenses

:

 

 

G

Financing (cost)/Income

:

 

 

H

Net Profit / (Loss) before Tax

:

 

 

I

Income Tax (expenses)/  

Release                                                                                                                    

:

 

 

J

Net Profit / (Loss) After Tax:

:

 

 

 

 

 

 

 

 

FINANCIAL DETAILS - Most recent available Financial Information (Cont/d….)

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

                                                                  

 

 

 

a)

Non-current Assets

:

 

 

b)

Investment

:

 

 

c)

Current Assets

:

 

 

d)

Current Liability

:

 

 

e)

Non-current liability

:

 

 

f)

Total Liabilities

:

 

 

g)

Total Assets

:

 

 

h)

 

Net Worth

 

:

 

 

                                                                 

 

 

 

 

 

CURRENT INVESTIGATION                      

 

The Subject Company A. B. MAURI LANKA (PVT) LTD is a Private Limited liability Company incorporated in 20th May 1972. and located at he client given address   No. 124, Templers Road, Mount Lavinia.The Subject Company was originally known as FORBES MARKETING and then change the name to BURNS PHILIP LANKA (PVT) LTD on 20th  June 1996 and again change the name to  A. B. MAURI LANKA (PVT) LTD on 13th January 2005.

 

The subject company A. B. MAURI LANKA (PVT) LTD, primary nature of business is Importers, Exporters, manufacturer of all types of Bakery items. Some of the imports are from Austarlia, India, Pakistan and Middle East Countries. Their exports are to Vietnam, Indonesia, Malaysia, etc. the subject company has their own marketing team for promote and distribute island wide. Their distribution network is around 45 outlets and at times collection is made by the appointed dealers in their own transport. All Bakery items are for local Distribution and overseas markets.

 

The subject company are sole importers of the popular Australian Margarine Meadolea and produce a special noodle pack which is also popular in the SriLankan Household Brand named HARVEST. The outlook of the subject company suggest that it’s operation housekeeping, and maintenance seems to be in good shape, even though some construction work is on in the premises.

 

The employee strength of the subject company is approximately 200 employees.

 

When the Financial Controller of the subject company was contacted refused to provide any information to prepare this report and declined to disclose operational or financial information, however all information in this report is from non-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 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

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

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