MIRA
INFORM REPORT
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Report Date : |
17.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
USS SERVICES (PVT) LTD |
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Registered Office : |
# 61, G. H. Perera Mawatha,
Rattanapitiya, Boralesgamuwa |
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Country : |
Sri
Lanka |
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Date of Incorporation : |
22nd
March 2001 |
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Com. Reg. No.: |
N (PVS) 28113 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and Distributors of Fibre Glass
Material |
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 : |
Usually
correct |
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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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USS SERVICES
(PVT) LTD |
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Legal Form & Status |
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Private Limited Liability Company (In operation) |
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Chairman/ Managing
Director |
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Mr. P. Sarath Silva |
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Primary Line of Business |
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Importers and Distributors of Fibre Glass Material |
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Head Office & Place of Business |
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# 46, Sunithra Devi Road, Kohuwala.
Fax No: (00 94 11) 282 5168 Mobile : (00 94 77) 772 6620 - Mr. P. Sarath Silva E-mail: ussservices@eureka.lk |
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No. of Employees |
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Approximately 65 |
COMPANY DETAILS -
Registration and Shareholder Details
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Registration No |
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N (PVS) 28113 |
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Date of
Registration |
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22nd
March 2001 |
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Registered Office |
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# 61, G. H. Perera Mawatha, Rattanapitiya, Boralesgamuwa. |
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Board Of
Directors As At 30th December 2005 |
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Mr. P. Sarath Silva |
ManagingDirector |
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Mr. C. U. J. K. Kumarajeewa Kulatilake |
Director |
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Authorised Share
Capital |
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Rs. 1,000,000.00 |
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Issued Share
Capital |
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Rs. 1,000,000.00 |
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Nominal Value of
Share |
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Rs. 10.00 |
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Share Holders As
At 30th December 2005 |
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Share Holders |
No of Shears |
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Mr. C. U. J. K. Kumarajeewa Kulatilake |
60,000 |
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Mr. P. Sarath Silva |
40,000 |
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Secretaries
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:
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Rathnayake
Laksman Srilal Crishokumara Jayarathna |
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Auditors |
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H. M.
Karunarathna & Company |
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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
CURRENT INVESTIGATION
History
The Subject Company USS SERVICES (PVT) LTD is a Private Limited Liability Company incorporated in 22nd March 2001.
Location
The Subject Company is located at # 46, Sunithra Devi Road, Kohuwala. The client given address # 394/4 Colombo Road , Pepiliyana , Boralesgamuwa was recently burnt down to almost ashes and there is insurance claim pending as stated by the Managing Director.
The subject company has 3 branches:-
No. 33, Mangala Road, Beruwala. Tel No. (00 94 34) 428 8033
No. 283, Chillaw Road, Negombo. Tel No. (00 94 31) 531 9119- 3331
“Ganga Sri” No.
05, Thotamuna Lane, Matara.
Operational Details
General
The subject company primary line of activity is an Importers Manufacturers and Distributors of all type of fibre glass material.
Since the tsunami affected Sri Lanka in December 2004 most fibre glass manufacturing companies revenue has been enhanced due to the high demand of fibre glass boats, water tanks, sheets, furniture, etc. This company claims they are the winners of SUNFO in economic development international award 2005.
Import Products
Insulation material, aluminium foil, glass wool, polyester resin, acetone and other fibreglass materials.
Import Country
Kuwait, Malaysia, etc.
Employees
The employee strength of the subject company is approximately 65 employees.
Financial Data
The company has declined to provide information on its finances
General Comments
When the Managing director was contacted he was very cooperative and polite in providing the information given in this report, however he decline to provide any operational and financial information to complete a more comprehensive report.
Trade references
The subject company did not provide any trade reference referrals
Credit Recommendations
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 computerized 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.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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