MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

A. P. S. KNITTERS (PVT) LTD

 

 

Registered Office :

No.172/1, Sri Vajiragnana Mawatha (Lake Road), Maharagama

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

13.08.1991

 

 

Com. Reg. No.:

N (PVS) 7982

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Textile and Embroidery

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GENERAL

Basic information at a glance

     

a.

Name of Subject of Inquiry

:

A. P. S. KNITTERS (PVT) LTD

 b.

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

c.

Managing Director

:

P. Kaushalya Chamara Samarasinghe

d.

Primary Line of Business

:

Manufacturing of textile and embroidery

e.

Head Office

&

Place of Business

 

:

 

No.172/1,

Sri Vajiragnana Mawatha (Lake Road),

Maharagama,

Sri Lanka.

 

Tel. No: (00 94 11) 285 1065 / 289 6358 / 285 1167

Fax No: (00 94 11) 289 6359

 

E-mail: apsknit@slt.lk

f.

No. of Employees

:

Approximately 250

 

 

COMPANY DETAILS 

Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 7982

 

Date of Registration

:

13th August 1991

 

b.

Re-registration No

:

PV 9436

 

Date of Re-registration

:

17th November 2008

 

c.

Registered Office

:

No.172/1, Sri Vajiragnana Mawatha, Maharagama

 

d.

Board Of Directors

As At

14th October 2010

:

P. Kaushalya Chamara Samarasinghe

Director

 

S. M. Deepani Renuka Samarasinghe

Director

 

P. Anuruddha Perera

Director

 

e.

Issued Share Capital

:

LKR. 3,001,000.00     

 

f.

Nominal Value of Share

:

LKR.            10.00

 

g.

Share Holders

As At

14th October 2010

:

 Share Holders

No of Shears

 

P. Anuruddha Perera

270,090

 

S. M. Deepani Renuka Samarasinghe

30,010

 

h.

Secretaries

:

Bussiness Allied Services (Pvt) Ltd

e.

Auditors

:

Ratnayake T. A. Company

i.

Bankers

:

Hatton National Bank PLC

HSBC

Commercial Bank

 

 

 

CURRENT INVESTIGATION                      

 

 

History.

 

The Subject Company A. P. S. KNITTERS (PVT) LTD is a Private    Limited   liability Company incorporated on 13th August 1991 under registration number N (PVS) 7982 and then the company was re-registered on 17th November 2008 under registration number PV 9436.

 

Location.

 

The Subject Company is located at the client given address No.172/1, Sri Vajiragnana Mawatha, Maharagama

 

Operations Details.

 

General

The subject company primary line of business is manufacturing of fabric and embroidery

 

Products

Yarn Fabric, Polyester, Embroidery

 

Import Countries

Raw materials are imported from India, China, Malaysia, England,

 

Employees

Approximately 250

 

Financial Data

 

Refused to provide its financials               

              

General Comments

 

When we contacted they have sullied all the basic details to prepare this report

 

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

 

 

Rating:

a) Management Capability

Average

b) Commercial Morality

Average

c) Reputation

Average

d) Market Situation

Competitive

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

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

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.