MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SWISS CUT & DESIGN (PVT) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08th April 2004 |
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Com. Reg. No.: |
N (PVS) 39306 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Cutting and Polishing Stones and Gems. |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
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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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SWISS CUT & DESIGN (PVT) LTD |
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Legal Form
& Status |
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Private Limited Liability
Company (In operation) |
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Managing Partner |
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Mr. S. Kumara
Amarasena |
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Primary Line of
Business |
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Cutting and Polishing Stones and gems. |
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Head office & Place of Business |
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Aluthgama Tel : (00 94 11) 034 2271700 Fax : (00 94 11) 034 2271700 E-mail: swissfactory@sltnet.lk
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No.
of Employees |
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50 employees |
COMPANY DETAILS - Registration and
Shareholder Details
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Registration No |
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N(PVS) 39306 |
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Date of
Registration |
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08th
April 2004 |
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Registered
Office |
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Board of
Directors As At 08th
October 2004 |
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Mr.S.Kumara
Amarasena |
Managing
Director |
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Dr.Bercot
Philippe (French) |
Director |
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Claude
Lindenmeyer (Swiss) |
Director |
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D.Vincent
Vaucher (Swiss) |
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 80.00 |
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Nominal Value of
Share |
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Rs. 10.00 |
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Share Holders As At 08th
October 2004 |
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Share Holders |
No. of Shares |
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D.Vincent Vaucher (Swiss) |
02 |
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Dr.Bercot
Philippe (French) |
02 |
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Claude
Lindenmeyer (Swiss) |
02 |
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S.Kumara
Amarasena ( |
02 |
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Auditors |
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Not Disclosed |
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Company
Secretaries |
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S.K.Amarasena |
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Bankers |
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People’s Bank |
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CURRENT INVESTIGATION
History
The Subject Company
SWISS CUT & DESIGN (PVT) LTD is Private Limited Liability Company incorporated in 08th April 2004.
Location
The Subject Company is located at and the client given address
is
Operational Details
General
The subject company primary line of business is cutting and polishing precious stones and gems for export, particularly for the Swiss watch industry. This is made easy and sum of the directors are also directors of certain Swiss Watch Company.
Products
The company also manufactures gold, Platinum and Silver Jewellery. They are also involved in Diamond cutting.
Export Country
Employees
The total strength of employees in the company was stated as approximately 50 employees.
Financial Data
The company has declined to provide information on its finances
General Comments
With grade difficulty and persuasion we convinced the partner to give us background information pertaining to the company and he finally gave us the details that are in this report. He declined to provide any financial information.
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%)