MIRA
INFORM REPORT
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Report Date : |
18.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SUNSHINE PACKAGING LIMITED |
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Registered Office : |
# 60, Dharmapala Mawatha, |
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Country : |
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Date of Incorporation : |
18th
September 2005 |
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Com. Reg. No.: |
N (PBS) 1281 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and distribution of metal Cane for Tea
exporters. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 |
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SUNSHINE PACKAGING LIMITED |
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Legal Form & Status |
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Private Limited Liability Company (In operation) |
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Managing Director |
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Mr.Lalith Vithanage |
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Primary Line of
Business |
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Manufacturing and distribution of metal Cane for Tea exporters. |
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Head Office & Factory |
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Ratmalana
Tel. No: (00 94 11) 421 1929 /
263 6404 Fax No: (00 94 11) 421 3148 |
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No. of Employees |
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Approximately 130 |
COMPANY DETAILS - Registration and
Shareholder Details
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Registration No |
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N (PBS) 1281 |
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Date of Registration |
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18th
September 2005 |
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Registered Office |
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# 60, Dharmapala Mawatha, |
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Board Of Directors As At 17th November 2006 |
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Mr.Lalith Vithanage |
ManagingDirector |
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Mr.N.Sidath Sri Perera |
Director |
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Mr.R.Mahilal Boudewyn |
Director |
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Mr.Visvanathamoorthy Govindasamy |
Director |
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Authorised Share Capital |
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Rs. 2,500,000.00 |
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Issued
Share Capital |
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Rs. 2,500,000.00 |
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Nominal
Value of Share |
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Rs. 10.00 |
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Share
Holders As
At 01st
October 2006 |
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Share Holders |
No of Shears |
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Sunshine Tea (Pvt) Ltd |
250,000 |
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Secretaries |
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Secretaries &
Financial Services (Pvt) Ltd |
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Auditors |
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-Not Disclosed- |
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Bankers |
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-Not Disclosed- |
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CURRENT INVESTIGATION
History
The Subject Company SUNSHINE PACKAGING LIMITED is a Private Limited Liability Company incorporated in 18th September 2005.
Location
The Subject Company is located at
Operations
Details
General
The subject company primary line of business is Manufacture and distributor of metal cane for tea exporters.
Raw Material Import
Country
Products
Metal Cane, Packaging Material and labels.
Country
Local tea exporter.
Employees
The total strength of employees in the group was stated as 130.
Financial Data
The company has declined to provide information on its finances.
General Comments
When we contact the Subject Company responded well to our inquiries and provided background information and refused to provide financial information and as such all information in this report has been obtained from the company.
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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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%)