MIRA INFORM REPORT

 

 

Report Date :           

09.12.2011

 

IDENTIFICATION DETAILS

 

Name :

TRANS SCREEN (PVT) LTD

 

 

Registered Office :

# 30, Sandatenna Mawatha, Battaramulla

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

18.11.1993

 

 

Com. Reg. No.:

PV 15592

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture, export and dealer of Woven Fabrics, Garments, Paints, Varnishes and Dyeing Extracts

 

 

No. of Employees :

250 Persons  (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 30th, 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

:

TRANS SCREEN (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Managing Director

:

Pushpadeva Dharmawardena

Primary Line of Business

:

Manufacture, export and dealer of Woven Fabrics, Garments, Paints, Varnishes and Dyeing Extracts

Head Office, Factory

&

Place of Business

 

:

 

# 30,

Sandatenna Mawatha,

Battaramulla.

 

Tel. No: (00 94 11) 286 7511 – 2 / 286 9347 / 286 4985

 

E-mail: info@transscreen.net / deepa@transscreen.net

 

No. of Employees

:

Approximately 250

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N (PVS) 12024

Date of Registration

:

18th November 1993

Re-registration No

:

PV 15592

Date of Re-registration

:

27th August 2009

Registered Office

:

No.30, Sandatenna Mawatha, Talangama, Battaramulla

Board Of Directors

As At

15th October 2010

:

Pushpadeva Dharmawardena

Managing Director

Sujith Indunil Siriwardena

Director

Issued Share Capital

:

Rs. 4,000,000.00     

Nominal Value of Share

:

Rs.             10.00

Share Holders

As At

14th November 2003

:

 Share Holders

No of Shears

Pushpadeva Dharmawardena

280,000

Sujith Indunil Siriwardena

120,000

Secretaries

:

Nexia Corporate Consultants (Pvt) Ltd

Auditors

:

B. R. De Silva and Company

Bankers

:

·         Seylan Bank PLC

·         HSBC Bank

Trading Terms

:

Purchasing Terms : Cash, Credit

Selling Terms         : Cash, Credit

 

 

 

Information Parted By

Name               : Ms. Deepa

Designation     : finance Head

Landline No.    : (00 94 11) 2867511

Mobile No.       : (0750113133)

Date                 : 07.12.2011

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                     The Subject Company TRANS SCREEN (PVT) LTD is a Private    Limited   liability Company incorporated on 18th November 1993 under registration number N (PVS) 12024 and then the company was re-registered on 27th August 2009 under registration number PV 15592

 

·         Location.

 

The Subject Company is located at the client given address No.30, Sandatenna Mawatha, Talangama, Battaramulla

 

·         Operations Details.

 

General

The subject company primary line of business is Manufacture, export and dealer of Woven Fabrics, Garments, Paints, Varnishes and Dyeing Extracts

 

Products

Woven Fabrics, Garments, Paints, Varnishes and Dyeing Extracts

 

Export Products

Woven Fabrics, Garments, Paints    

 

Export Countries

USA, UK, Middle east,

 

No of Employees

                  Approximately 250

Directors Details

  Name

Pushpadeva Dharmawardena

ID Number

623000222 X

Nationality

Sri Lanka

Gender

Male

Date of Birth

26th October 1962

Age

 49 Years

 

 

Name

Sujith Indunil Siriwardena

ID Number

622490102 X

Nationality

Sri Lanka

Gender

Male

Date of Birth

5th September 1962

Age

 49 Years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

·         Financial Data

 

                                                                                                              (Amt. In LKR Millions)

Particulars

 

31.03.2011

31.03.2010

Sales Turnover

166.000

203.000

 

                  (The Sale Turnover has been reduced due to Product Price Fluctuation)

 

                   In Sri Lanka, Private Companies do not publish their Company Accounts for public  

                  knowledge, other than their shareholders.

 

·         General Comments

The subject company when contacted provided some information to prepare this report but declined to disclose any financial information

·         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.51.78

UK Pound

1

Rs.81.32

Euro

1

Rs.69.42

 

 

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.