MIRA INFORM REPORT

 

 

Report Date :

07.12.2011

 

IDENTIFICATION DETAILS

 

Name :

RANK ENTERTAINMENT HOLDINGS (PVT) LTD

 

 

Registered Office :

# 9,15th lane, Galle road, Colombo-03

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

22.07.2004

 

 

Com. Reg. No.:

N (PVS) 38343

 

 

Legal Form :

Private Limited Liability Company (In operation)

 

 

Line of Business :

Subject is engaged with Restaurant, Casino and gaming operator

 

 

No. of Employees :

400 Approximately

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

       

Name of Subject of Inquiry

:

 

RANK ENTERTAINMENT HOLDINGS (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company (In operation)

Chairman

 :

Ravi Wijeratne

Primary Line of Business

:

Subject is engaged with Restaurant, Casino and gaming operator

Place of Business

&

Head Office

:

 

# 9,15th lane, Galle road,

Colombo-03

Sri Lanka

 

Tel. No: (00 94 11) 257 6576 / 257 3493 / 257 4836

Fax No: (00 94 11) 237 0428

 

E Mail: stardust@itmin.com

            info@rank.lk

 

No. of  Employees

:

400 Approximately

Customers

:

Individual, Corporate

           

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

N (PVS) 38343

Date of Registration

:

22nd July 2004

Re-registration No

:

PV 17621

Date of Re-registration

:

22nd January 2010

Branch Office

:

# 246, Avissawella Road, Orugodawatta, Sri Lanka

Board of Directors

As At

31st December 2009

:

Ravi Wijeratne

Chairman

K. G. Tania De Silva

Director

Serini  Dantika  Dewaraja

Director

Saman Pradeep Nishantha

Director

Issued Share Capital

:

LKR.   9,000,020.00

 

Nominal Value of Share

:

LKR.               10.00      

 

Share Holders

As At

31st December 2009

:

 

                       Share Holders

No. of Shares

 

K. G. Tania De Silva

90,000

 

Saman Pradeep Nishantha

01

 

Ravi Wijeratne

810,001

 

Auditors

:

B. R. De Silva & Company

 

Company Secretaries

:

Secretaries Colombo (Pvt) Ltd

 

Bankers

:

HSBC, Hatton National Bank, Commercial Bank, Peoples Bank

 

 

 

FINANCIAL DETAILS

- Most recent available Financial Information

 

THE COMPANY HAS TO PROVIDE INFORMATION ON ITS FINANCES

 

 

31.03.2011

31.03.2010

 

Sales Turnover

:

LKR. 1 Billion

LKR. 700 Millions

 

 

Information parted by

 

Name               : Mr. Prasanna 

Designation     : Finance Manager

Contact            : 00 94 11 – 2574836

Date                 : 01.12.2011

 

 

CURRENT INVESTIGATION

 

                                                           

                                                        Company Logo

 

·         History.

 

                  The Subject Company RANK ENTERTAINMENT HOLDINGS (PVT) LTD is a Private   Limited   Liability Company incorporated on 22nd July 2004 under the registration number N (PVS) 38343, and on 22nd January 2010 the Subject Company was re-registered under registration number PV 17621.

 

                 The subject company RANK ENTERTAINMENT HOLDINGS (PVT) LTD is a 

                  Subsidiary of the RANK GROUP OF COMPANIES.

·         Location.

 

                  The Subject Company is located at client given address # 9,15th lane, Galle road,

Colombo-03.

 

·         Operations Details.

 

General

The subject company’s primary line of business is Casino and gaming operator. 

 

Services

                  Casino, Gaming (Gambling)

 

No of Employees

                  400 Approximately

 

                   Trade Reference

                   Purchasing : Cash, Credit (30 Days)

                   Selling : Cash, Credit (30 Days)

 

                                                                                   

 

·         Directors Details

 

                  01)

Name

Ravi Wijeratne

Sex

Male

Nationality

Sri Lankan

National ID No.

591903942 V

Date of Birth

08th July 1959

Age

52 Years

 

                  02)

Name

Serini Dantika Dewaraja

Sex

Female

Nationality

Sri Lankan

National ID No.

597881843 V

Date of Birth

14th October 1959

Age

52 Years

 

 

                      03)

Name

K. A. G. Tania De Silva

Nationality

UK

Passport No.

094403777

 

 

                  04)

Name

K. Saman Pradeep Nishantha

Sex

Male

Nationality

Sri Lankan

National ID No.

663090151 V

Date of Birth

04th November 1966

Age

47 Years

 

 

·         Financial Data

The company has to provide information on its finances

 

 

·         General Comments

When the Subject Company was contacted they were polite in providing the basic information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

 

 

·         Trade references

                  The subject company did not provide any trade references

 

 

·         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.51.39

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

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.