MIRA INFORM REPORT

 

 

 

Report Date :

25.09.2008

 

IDENTIFICATION DETAILS

 

Name :

TEAMWORK TECHNOLOGY (PVT) LTD

 

 

Registered Office :

# 19/3, Race Course Avenue,  Colombo 07.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

14.11.2000

 

 

Com. Reg. No.:

N(PVS) 27339

 

 

Legal Form :

Private Limited Liability Company   

 

 

Line of Business :

Developing Software both Web Based and Non-Web Based

 

 

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

:

 

TEAMWORK TECHNOLOGY (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

C.E.O

:

Carl Michael Ocarsson Haglind

Primary Line of Business

:

Developing Software both web based and non-web based, for the different operating platforms, utilising different programming language for both the export and local market

Head Office

&

Place of Business

 

:

 

# 44, Guild Road Crescent

  Colombo 07.

                   

Tel. No: (00 94 11) 268 6824

Fax No: (00 94 11) 268 6794

 

E-mail: contact@teamwork.lk 

              ganishkaw@teamwork.lk 

 

No. of Employees

:

Approximately  25

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

N(PVS) 27339

Date of Registration

:

14th November 2000

Registered Office

:

 

# 19/3, Race Course Avenue,  Colombo 07.

 

Board Of Directors

As At

06th November 2007

:

Carl Michael Ocarsson Haglind

C.E.O

Rafel Maciej Kalicinski

Director

Dinesh Jamndas Ambani

Director

Ahangama Vithanage Ravindra De Silva Jayathilleke

Director

Authorised Share Capital

:

Rs.      100,000,000.00

Issued Share Capital

:

Rs.          9,000,030.00

Nominal Value of Share

:

Rs.                     10.00

Share Holders

As At

06th November 2007

:

 Share Holders

No of Shears

Tiab Holding AG

468,000

Sealbe Holding AG

117,000

Dinesh Jamndas

135,001

Rafael Maciej

90,001

Muruan Lars

90,000

Carl Michael Ocarsson Haglind

01

Secretaries

:

Business Professional (Pvt) Ltd

Auditors

:

Earnst & Young Chartered Accounts

Bankers

:

HSBC

 

FINANCIAL DETAILS

 

Most recent available Financial Information

     

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

Current investigation

 

·         History.

 

The Subject Company TEAMWORK TECHNOLOGY (PVT) LTD is a Private    Limited   liability Company incorporated in 14th November 2000.

 

·         Location.

 

The Subject Company is located at the client given address. # 19/3, Race Course Avenue,                 Colombo 07.

 

 

·         Operations Details.

 

General

 

The subject company primary line of business is Developing Software both web based and non-web based, for the different operating platforms, utilising different programming language for both the export and local market

 

 

Business Interests:

 

Teamwork Technology is primarily interested in provision of software development services and IT Solutions and wishes to establish a strategic partnership with IT Consultants, Solution Providers or Corporate IT Departments to carry out software design and development work. They would align their technical focus and development with the needs of their partners, devel oping into a focused, high quality production unit, to deliver an integrated and seamless service.

 

Teamwork Technology is a privately owned enterprise with solid owners both in Sweden and Sri Lanka.

The company is founded by Michael Haglind with a background as Vice President Manpower Sweden and Rafael Kalicinski who was Technical Director at IFS Sri Lanka.

The subject company’s  partner in Sri Lanka is also a partner with Suntel Sri Lanka, which is a joint venture with Telia, Sweden.

They are the team of 50 at their  offices in Stockholm and Colombo with a wide spread of competence within the IT field. Their core competence is within WEB Application development, Client Server & Mobile Technology. Their processes and knowledge in offshore development gives them a significant position on the Scandinavian market.

The Development Center is established in Colombo, Sri Lanka and a Sales and Marketing Office is in Stockholm, Sweden. The company is a Board of Investment venture with Swedish, Australian and Sri Lankan collaboration.

In recognition of the solid track record of Microsoft and Java based Application Delivery over the past five years Teamwork Technology was awarded with Microsoft Certified Partner status and Sun Microsystems Associate Partner status in 2006.

 

Products

 

Teamwork Technology specializes in providing software solutions. They can either be your extended workforce in a project or deliver a complete solution built from a specification.

Their greatest asset and strength is the team of developers in their Competence Centre, based in Colombo, Sri-Lanka. Their team comprises of academically qualified and professional people who develop software based on the Rational Unified Process (RUP).

They believe that an off shoring is a long term relation. When this is in place all parties can benefit from it

 

PRODUCTS

 

o TT Presenter - A tool to create professional Multimedia Presentations in 15 minutes. Multimedia introduction, documents, contact         information, presentations and films.

 

o Event Management System - Gives conference and event organizers a tool to manage participants, events, transportation, lodging, meals and activities. Participants have their own self -service portal to add and edit their information and requirements.

 

o TCC – Project Management groupware application bringing together different work groups on one common platform.

 

o InSiteSMS product suite – Brings mobile connectivity to the desktop. Streamlines and integrates mobile data delivery to existing or planned business processes.

 

Employees

                  Approximately 25

 

·         Financial Data

 The company has declined to provide information on its finances

 

·         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.

 

 

 

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%)

 

 

 

 

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