MIRA INFORM REPORT

 

 

Report Date :

16.03.2011

 

IDENTIFICATION DETAILS

 

Name :

KAILASH METACHEM (PVT) LTD

 

 

Registered Office :

# Lot No. B – 1, Seethawaka Industrial Park, Avissawella.

 

 

Country :

Sri Lanka.

 

 

Date of Incorporation :

22.01.2001

 

 

Com. Reg. No.:

N (PVS) 29082

 

 

Legal Form :

Private Limited Liability Company    (In operation)

 

 

Line of Business :

Manufacture and export of led Oxide, Zinc Oxide

 

 

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 :

Unknown

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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

:

 

KAILASH METACHEM (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Chairman

:

Muni Dilip Mukundrai

Primary Line of Business

:

Manufacture and export of led Oxide, Zinc Oxide

Head Office

&

Place of Business

 

:

 

# Lot No. B – 1,

Seethawaka Industrial Park,

Avissawella.

Sri Lanka.

                   

Tel. No: (00 94 36) 223 2801  

Fax No: (00 94 36) 223 2537

Mobile : (00 94 77) 727 2203 (Mr. Lal Leelaratne)

 

E-mail: kailashmet@sltnet.lk

 

 

No. of Employees

:

Approximately 55

 

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

N (PVS) 29082

Date of Registration

 

22nd January 2001

Re-registration No

:

PV 5292

Date of Re-registration

 

10th July 2008

Registered Office

:

No.32, Park Road, Colombo – 5, Sri Lanka.

Board Of Directors

As At

        15th October 2010

:

Muni Dilip Mukundrai (Indian)

Chairman

Muni Jitesh Mukundrai (Indian)

Director

Issued Share Capital

:

Rs.       28,545,380.00 

Nominal Value of Share

:

Rs.                     10.00

Share Holders

As At

15th October 2010

:

 Share Holders

No of Shears

Kedar Metals (Pvt) Ltd

1,174,519

Muni Dilip Mukundrai

      840,009

 

M. Ratilal Mooni

      840,010

Secretaries

:

Nexia Corporate Consultants (Pvt) Ltd

Auditors

:

B. R. De Silva & Company

Bankers

:

Seylan Bank, Bank of Ceylon, Standard Chartered Bank, State Bank of India

 

Information parted by

 

Name :                          Mr. Lal

Designation:                  Accountant

Date:                            15.03.2011

 

                       

Current investigation

 

·         History.

 

                  The Subject Company KAILASH METACHEM (PVT) LTD is a Private    Limited   liability Company incorporated on 22nd January 2001 under Reg. No N (PVS) 29082. The company has been re-registered on 10th July 2008 under Reg. No PV 5292 in terms of new Companies Act – 07 of 2007.  Subject  Company is Board of Investment (BOI) approved.

 

 

·         Location.

 

The Subject Company is located at the client given address Lot No. B – 1, Seethawaka Industrial Park, Avissawella, approx. 40 kilo meters east of Colombo.

 

·         Operations Details.

 

General

                  The subject company’s primary line of business is Manufacture and exporting of Lead Oxide, Zinc Oxides and paint dryers.

 

 

Products

Led Oxide, Zinc Oxide, Polyvinyl Chloride, PVC and Paint Dryers

 

 

Export Countries

India, Turkey, Saudi Arabia, Singapore, Taiwan, Thailand, Australia and Japan

 

 

No of Employees

                  Approximately 55

 

 

·         Financial Data

 

                  The company has declined to provide information on its finances

               

                 


 

·         General Comments

 

                  When we contacted the General Manager, Mr. Lal Leelaratne of the Subject Company responded well to our inquiries and provided basic information to prepare this report.

 

 

·         Trade references

 

                  The subject company did not provide any trade reference.

 

 

·         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.45.27

UK Pound

1

Rs.72.95

Euro

1

Rs.63.08

 

 

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.