MIRA
INFORM REPORT
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Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
BLUE SCOPE LYSAGHT LANKA (PVT) LTD |
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Registered Office : |
# 26 & 27, Sapugaskanda Industrial Estate, Sapugaskanda |
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Country : |
Sri Lanka |
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Date of Incorporation : |
29th November 1993 |
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Com. Reg. No.: |
N (PVS) 12070 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers, Manufacturers and Distributors of Steel. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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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BLUE SCOPE LYSAGHT LANKA (PVT) LTD |
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Legal Form & Status |
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Private Limited Liability Company (In operation) |
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Chief
Operating Officer |
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Mr. Samidda Kanangara |
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Primary Line of
Business |
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Importers, Manufacturers and Distributors of Steel. |
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Head Office, Place
of Business & Factory |
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# 26 & 27, Sapugaskanda Industrial Estate, Sapugaskanda. Tel. No: (00 94 11) 240 0614 Fax No: (00 94 11) 240 0618 |
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No. of Employees |
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Approximately 60 ( factory -20 and Office -40) |
COMPANY DETAILS - Registration and
Shareholder Details
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Registration No |
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N (PVS) 12070 |
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Date of Registration |
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29th November 1993 |
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Registered Office |
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# 26 & 27, Sapugaskanda Industrial
Estate, Sapugaskanda. |
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Board Of Directors As At 31st October 2005 |
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R. John
Crawford (Australian) |
Director |
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M. Gerad Mulcahy (Australian) |
Director |
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Authorised Share Capital |
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Rs. 120,000,000.00 |
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Issued Share Capital |
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Rs. 106,350,000.00 |
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Nominal Value of Share |
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Rs. 10.00 |
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Share Holders As At 31st October 2005 |
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Share Holders |
No of Shears |
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B H P Steel
Lysaght Singapore (Pvt) Ltd (Co. Incorp. In Singapore) |
10,634,999 |
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Robert Crawford
(Singapore) |
01 |
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Secretaries
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:
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Business Professional (Pvt) Ltd |
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Auditors |
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Ernst & Young |
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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 BLUE SCOPE LYSAGHT LANKA (PVT) LTD is a Private Limited liability Company incorporated on 29th November 1993.
The Subject Company, BLUE SCOPE LYSAGHT LANKA (PVT) LTD, originally incorporated in Sri Lanka
on 29th November 1993 as
B H P STEEL BUILDING PRODUCTS LANKA
(PVT) LTD then changed its name to B H P STEEL LYSAGHT LANKA (PVT) LTD on
18th June 2002 and at last
they changed to BLUE SCOPE LYSAGHT LANKA (PVT) LTD on 17th
November 2003.
Location.
The Subject Company is located at the client given address # 26 & 27, Sapugaskanda Industrial Estate, Sapugaskanda.
Operational Details.
General
The subject company primary line of business is Importers, Manufacturers and Distributors of Coated & Uncoated Steel products. The subject company is manufacturing steel products for the local customer specification.
Import Products
Raw materials for the production.
Import Country
Australia.
Employees
The employee strength of the subject company is approximately 60 employees. ( factory -20 and Office -40)
Financial Data
The company has declined to provide information on its finances
General Comments
When the Subject Company was contacted they were very cooperative and polite in providing the information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this 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 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.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)