MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CEGETEL SERVICES (PVT) LIMITED |
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Registered Office : |
# 15, East Tower, World Trade
Center, Echelon Square, Colombo – 01 |
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Country : |
Sri Lanka |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01st October 1996 |
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Com. Reg. No.: |
N (PVS) 17874 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Specializes in Installation of telecommunication item. |
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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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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CEGETEL SERVICES (PVT) LIMITED |
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Legal Form & Status |
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Private Limited Liability Company
(In Operation) |
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Managing Director |
: |
Mr. Rohan Gamini Jayasinghe |
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Primary Line of Business |
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Specializes in Installation of telecommunication item. |
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Head office |
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# 15, East Tower, World Trade
Center, Echelon Square, Colombo – 01. Tel. No: (00 94 11) 243 0501 Fax No: (00 94 11) 239 4997 |
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No. of Employees |
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Approximately 16 employees. |
COMPANY
DETAILS - Registration and
Shareholder
Details
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Registration No |
: |
N (PVS) 17874 |
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Date of Registration |
: |
01st October 1996 |
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Registered Office |
: |
# 15, East Tower, World Trade Center, Colombo – 01. |
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Board of Directors As At 31st March 2006 |
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Mr. Rohan Gamini Jayasinghe |
Managing Director |
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Mr. Sinnathamby Visuvanathan |
Director |
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Mr. Tuan Sabreen Noor Jumadin |
Director |
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Authorised Share Capital |
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Rs. 20,000,000.00 |
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Issued Share Capital |
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Rs.
7,000.00 |
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Nominal Value of Share |
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Rs. 1,000.00 |
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Share Holders As At 31st March 2006 |
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Share Holders |
No. of Shares |
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Mr. Rohan Jayasinghe |
01 |
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Mr. Sinnathamby Visuvanathan |
01 |
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Mr. Abdul Rasak Fareed |
01 |
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Mr. Tuan Sabreen Noor Jumadin |
01 |
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Mr. Selwyn Vijayasegaran Arnold |
01 |
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Cegetel (Pvt) Ltd( Incorp in Sri Lanka) |
01 |
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F. C. T. Services |
01 |
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Auditors |
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S. Umasuthan &Co |
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Company Secretaries |
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Gaston Rosaido De Vaz |
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Bankers |
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-Not Disclosed- |
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FINANCIAL
DETAILS - Most recent available
Financial
Information
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Year Ended 31st March 2006 Rs: ’000 |
Year Ended 31st March 2005 Rs: ’000 |
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A |
Revenue |
: |
12,346 |
6,478 |
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B |
Less: Direct Expenses |
: |
(7,332) |
(1,998) |
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C |
Gross Profit |
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5,014 |
4,480 |
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D |
Other Income |
: |
294 |
21 |
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E |
Operating
Expenses |
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(10,903) |
(6.488) |
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F |
Net Profit /
(Loss) before Tax |
: |
(5,595) |
(1,987) |
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G |
Taxation |
: |
Nil |
Nil |
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H |
Net Profit / (Loss)
After Tax: |
: |
(5,595) |
(1,987) |
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Year Ended 31st March 2006 Rs: ’000 |
Year Ended 31st March 2005 Rs: ’000 |
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a) |
Non-current Assets |
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1,579 |
1,003 |
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b) |
Current Assets |
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4,895 |
3,171 |
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c) |
Non Current Liabilities |
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- |
- |
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d) |
Current Liabilities |
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14,049 |
6,154 |
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e) |
Total Liabilities |
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14,049 |
6,154 |
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f) |
Total Assets |
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6,474 |
4,174 |
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g) |
Net Worth |
: |
7,575 |
1,980 |
CURRENT
INVESTIGATION
History
The Subject Company CEGETEL SERVICES (PVT) LIMITED is a Private Limited liability Company incorporated on 01st October 1996.
Location
The Subject Company is located at the client given address # 15, East Tower, World Trade Center, Echelon Square, Colombo – 01.
The subject company’s place of business is located at # Narahenpita, Colombo-05.
Operational
Details
General
The subject company primary line of activity is specialising in installation and subcontractors of electrical, telecommunication, industrial to the Sri Lanka telecom on an agreement between the two parts.
The subject company stated that they also handle work for the Ceylon Electricity board.
Country
Sri Lanka
Employees
The total strength of employees in the group was stated as approximately 16 employees.
Financial
Data
Received from the non formal sources.
General
Comments
The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from non-formal sources but clearly originating 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 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.
ANALYSIS
& RATING - Appraisal and Rating of
Subject
Company
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Rating: |
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a) Business Scale |
Small |
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b) Business Trend |
Growing |
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c) Management Capability |
Average |
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d) Commercial Morality |
Average |
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e) Reputation |
Average |
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f) Market Situation |
Very Competitive |
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. |
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%)