MIRA INFORM REPORT

 

 

Report Date :

04.09.2007

 

IDENTIFICATION DETAILS

 

Name :

ACCESS INTERNATIONAL (PVT) LIMITED

 

 

Registered Office :

“Access Towers”, # 278, Union Place, Colombo 02

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

22nd February 1989

 

 

Com. Reg. No.:

N (PVS) 5214

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

General Trading & Indenting, Construction & Printing.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

GENERAL - Basic information at a glance

       

Name of Subject of Inquiry

:

ACCESS INTERNATIONAL (PVT) LIMITED

Legal Form  & Status

:

Private Limited Liability Company (In Operation)

Chairman

:

Mr. Sumal Joseph Sanjiva Prerea

Primary Line of Business

:

General Trading & Indenting, Construction & Printing

Place of Business

:

"Access Towers”, # 278, Union Place, Colombo 02,

 

Tel. No: (00 94 11) 230 2302

Fax No: (00 94 11) 230 2333

 

E Mail: info@access.lk 

 

Web:     www.access.lk

No. of  Employees

:

750+

 

 

COMPANY DETAILS  - Registration and

Shareholder Details

 

Registration No

:

N (PVS) 5214

Date of Registration

:

22nd February 1989

Registered Office

:

# 278, Union Place, Colombo 02.

Auditors

:

Nihal Hettiarachchi & Company

Company Secretaries

:

RHN Holdings (Pvt) Limited

Bankers

:

Peoples Bank

American Express Bank Limited

Seylan Bank Limited

Bank of Ceylon

Board of Directors

As At

        14th  July 2005

:

Mr. Sumal Joseph Sanjiva Prerea

Chairman

Mr. Ranjan John Suriyakumar Gomaz

Director

Mr. Joseph Christopher Joshua

Director

Mr. Don Dilshan Srilath

Director

Mr.Thanthulage Theophilus Bede Claude Fernando

Director

Mr. Brian Peter Obeysekara

Director

Mr. Suresh Dilhan Perera

Director

Authorised Share Capital

:

Rs.            300,000,000.00

Issued Share Capital

:

Rs               60,000,000.00

Nominal Value of Share

:

Rs.                            10.00  

Share Holders

As At

06th April 2005

:

Share Holders

No. of

Shares

Mr. Sumal Joseph Sanjiva Prerea

5,999,998

Mr. Alexis Deodatus Joseph Perera

01

Ms. Ethel Antionete Perera

01

 

 

 

 CURRENT INVESTIGATION

 

The Subject Company, ACCESS INTERNATIONAL (PVT) LIMITED was incorporated as a private limited liability company on 22nd February 1989. The Subject Company is operating from the Client given address # "Access Towers”, Level 8, 278, Union Place, Colombo 02.

 

The Subject Company, ACCESS INTERNATIONAL (PVT) LIMITED, is a general trading and indenting company with sole agency status for various products, services and consumer durable items. 

 

ACCESS INTERNATIONAL (PVT) LIMITED is also involved in the construction & printing industries. It is also a major supplier to the armed forces of Sri Lanka.  

 

Mr. Sumal Joseph Sanjiva Prerea, Chairman of the subject company when contacted, refused to provide any information to prepare this report and declined to disclose any information and as such all information in this report has been obtained from other non-formal sources but clearly originating from the company.

 

The subject company is under ACCESS GROUP of COMPANIES.

 

The ACCESS GROUP of COMPANIES consists of the following companies

 

·   ACCESS HOLDINGS (PVT) LTD

·   Accessory Corp (Pvt) Ltd.

·   Access International Pvt Ltd

·   Access Projects (Pvt.) Ltd

·   Euromettalic (Pvt.) Ltd

·   Access Agencies (Pvt) Limited

·   Access Graphics (Pvt.) Ltd.

·   Access Printing (Pvt.) Ltd.

·   Access Natural Water (Pvt.) Ltd.

·   Access Telecommunication Services (Pvt.) Ltd.

·   Access Solar (Pvt.) Ltd.

·   Access Engineering Limited.

·   Access Travels (Pvt.) Ltd.

·   E*Trade (Private) Limited.

·   Access Industrial Systems (pvt) Ltd

·   Access Solar Systems (pvt) Ltd

·   Asia Pacific Golf Course Ltd

·   Access Realties (Pvt.) Ltd.  

 

The information provided in this report has been obtained from other non-formal sources, but clearly originating form the company.

 

No computerised data bases exist to make checks whether the promoters 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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions