MIRA
INFORM REPORT
|
Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EUROCENTERE DDC LIMITED |
|
|
|
|
Registered Office : |
# 65, Walukarama Road, Colombo 05. |
|
|
|
|
Country : |
Sri lanka |
|
|
|
|
Date of Incorporation : |
17.12.1999 |
|
|
|
|
Com. Reg. No.: |
N(PBS) 852 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Development, Testing and Release Software Systems and Packages for
Global Market and Supply of Software 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 |
: |
EUROCENTERE DDC LIMITED |
|
Legal Form & Status |
: |
Public Limited
Liability Company (In operation) |
|
C.E.O |
: |
Sekaram Mano |
|
Primary Line of Business |
: |
Development, testing and release software systems and packages for global
market and supply of software products |
|
Head Office & Place of
Business |
: |
#
65, Walukarama Road,
Colombo 03. Tel. No: (00 94 11) 472 1194 - 6 Fax No: (00 94
11) 472 1198 E-mail: info@eurocenter.lk |
|
Oslo Office |
: |
|
|
No. of Employees |
: |
Approximately 55 |
COMPANY DETAILS - Registration and Shareholder Details
|
Registration No |
: |
N(PBS) 852 |
||
|
Date of
Registration |
: |
17th December 1999 |
||
|
Registered
Office |
: |
# 65, Walukarama Road, Colombo 05. |
||
|
Board Of
Directors As At 05th
August 2008 |
: |
Sekaram Mano |
C.E.O |
|
|
Perera Cecil John Kalugamage |
Director |
|||
|
Orea Erik – Norway |
Director |
|||
|
Voget Eskil – Norway |
Director |
|||
|
Soegaard Ragnar Thor Grundtrig – Norway |
Director |
|||
|
Authorised Share
Capital |
: |
Rs. 50,000,000.00 |
||
|
Issued Share
Capital |
: |
Rs. 14,600,000.00 |
||
|
Nominal Value of
Share |
: |
Rs. 10.00 |
||
|
Share Holders As At 05th
August 2008 |
: |
Share Holders |
No of Shears |
|
|
Euro Centere DDC As 01 Norway |
730,000 |
|||
|
Informatics International Lanka (Pvt) Ltd |
72,993 |
|||
|
Wickremasinghe Gamini Wasantha Kumara |
01 |
|||
|
P. Ravindra Dias |
01 |
|||
|
Wickremasinghe Malllawarachige Janakie |
01 |
|||
|
Sekaran Mano |
01 |
|||
|
Bartleft Samuel Suresh Kumar |
01 |
|||
|
Vithanage Sarath Chandra |
01 |
|||
|
Hewpesige Nevinda |
01 |
|||
|
Human Resource Group LLE |
657,000 |
|||
Secretaries
|
:
|
Esjay Corporate Services (Pvt) Ltd |
||
|
Auditors |
: |
Ernst & Young |
||
|
Bankers |
: |
HSBC, Commercial Bank, National Development Bank |
||
FINANCIAL DETAILS
Most recent available Financial Information
THE COMPANY HAS
DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
Current investigation
·
History.
The Subject Company EUROCENTERE DDC LIMITED is
a Private Limited liability Company incorporated in 17th December 1999.
·
Location.
The Subject Company
is located at the client given address #
65, Walukarama Road,
Colombo 03.
·
Operations
Details.
General
The subject
company primary line of business is Development,
testing and release software systems and packages for global market and supply of
software products
Eurocenter DDC Ltd. in operation since 1999 is a software engineering
organization of international repute with offices based in Colombo, Sri Lanka
and Oslo, Norway. Eurocenter believes in empowering customers to succeed in the
Global IT economy by offering a dedicated off-shore delivery model based on
‘Extended Engineering’. Their competency lies in product development, design,
testing, and maintenance and in building customized applications of varying
complexity. They follow mature software development processes to optimize and
streamline their performance and quality. With a proven track record of solid
client relationships, they aim to consistently meet the challenge of delivering
high quality products in an intelligent and cost effective manner.
Business
Interests:
Extended Software
Engineering
Products / Services:
Applications Management
Application Enhancement and Development, Application Maintenance and
Support; and Quality Assurance and
Testing Services.
Debt Management and Financial system
Functional and technology requirements of customers are addressed by
domain experts who use best practices and proven processes when developing
solution to our customer.
Mobile and Wireless
Their wireless solutions are designed to help integrate wireless
connectivity to business solutions by extending Web-based applications and
content to the broadest range of wireless devices and networks.
Software Product Development
Their product development services are designed to assist Start-up and
mature software product companies through all phases of a product’s life cycle.
Employees
Approximately 55
·
Financial Data
The company has
declined to provide information on its finances
.
General Comments
When we contact the Managing Director of the
Subject Company responded well to our inquiries and provided background and 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 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.46.25 |
|
UK Pound |
1 |
Rs.85.92 |
|
Euro |
1 |
Rs.68.11 |
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%)