MIRA INFORM REPORT

 

 

Report Date :

28.11.2008

 

IDENTIFICATION DETAILS

 

Name :

AMSAFE BRIDPORT (PVT) LTD

 

 

Registered Office :

Wathupitawala EPZ, Wathupitawala, Nittambuwa.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

23.01.2001

 

 

Com. Reg. No.:

N (PVS) 27761

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers and Exporters of Aircraft & Cargo products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear


GENERAL - Basic information at a glance

Name of Subject of Inquiry

:

AMSAFE BRIDPORT (PVT) LTD

Legal Form  & Status

 

:

 

Private Limited Liability Company (In Operation)

Managing Director

:

Mr. Ian Paul Kentfield                     (British)

Primary Line of Business

:

Manufacturers and Exporters of Aircraft & Cargo products

Head Office

&

Factory

:

 

Wathupitawala EPZ, Wathupitawala,

Nittambuwa.

 

Tel: (00 94 33) 467 8400

Fax: (00 94 33) 467 8313

 

E. mail : sales-asb@amsafe.com

Web      : www.amsafe.com

 

Sales Administration office

:

# 10, 3rd Floor, Gothami Road,

Colombo -08.

 

Tel: (00 94 11) 451 6888

Fax: (00 94 11) 451 6880

No. of Employees

:

Approximately 300 employees

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

N (PVS) 27761

Date of Registration

:

23rd January 2001

Registered Office

:

Wathupitiwala Export Processing Zone, Wathupitiwala, Nittambuwa.

Board of Directors

As at

19th August 2008

:

Mr. Ian Paul Kentfield                     (British)

Managing Director

Mr. Kenneth Beckemeyer            (American)       

Director

Mr. Alan Robert Mcilwarith            (British)    

 

Director

Mr. Terence William Lyons          ( American )

Director

Authorised Share Capital

:

Rs.        500,000,000.00   

Issued  Share Capital

:

Rs.        20.00

Nominal Value of Share

:

Rs.         10.00

Share Holders

As at

19th August 2008

:

Share Holders

No. of    Shares

A M Safe Inc                    (Co incorp in America)   

01

 

Bridport air Carrier Inc    (Co incorp in U K)      

 

01

Auditors

:

SJMS Associates

Company Secretaries

:

Jacey and Company

Bankers

:

-Not Disclosed-

 

 

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                  The Subject Company AMSAFE BRIDPORT (PVT) LTD is a Private    Limited   liability Company incorporated in 23rd January 2001. The Subject Company was originally incorporated as a BRIDPORT AVIATION LANKA (PVT) LTD and then changed to Client given name AMSAFE BRIDPORT (PVT) LTD on 18th August 2005.

 

·         Location.

 

The Subject Company is located at the client given address Wathupitawala Export Processing Zone, Wathupitawala, Nittambuwa. And also the subject company have a Sales Administration Office in # 10, 3rd Floor, Gothami Road, Colombo -08.

 

·         Operational Details.

 

General

                  The subject company primary line of business is Manufacturers and Exporters of Aircraft & Cargo products.

 

Export Products

Barrier nets, Tie down Straps, Aviation Child Seat, Aviation Air Bag, Belly hold Nets, Pallet Nets, ect…

                                                                                                                             

 

 

 

 

 

 

 

Country

Europe Countries, Middle East Countries, Asian Countries, ect…

 

Employees

                  The employee strength of the subject company is approximately 300 employees.

 

·         Financial Data

 

                 The company has declined to provide information on its finances.

             

·         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.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.84

UK Pound

1

Rs.76.81

Euro

1

Rs.64.38

 

 

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