MIRA INFORM REPORT

 

 

Report Date :

05.05.2011

 

IDENTIFICATION DETAILS

 

Name :

RUHUNU CABLES (PVT) LTD

 

 

Registered Office :

No.42, Maligawa Road, Ratmalana

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

26.09.1979

 

 

Com. Reg. No.:

PVS 6005

 

 

Legal Form :

Private Limited Liability Company    (In operation)

 

 

Line of Business :

Manufacturing and dealing electrical accessories, cables, wires and other materials

 

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 – 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

:

RUHUNU CABLES (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Managing Director

:

D. Chula Rajapakse

Primary Line of Business

:

Manufacturing and dealing electrical accessories, cables, wires and other materials

Head Office

&

Place of Business

 

:

 

No.42,

Maligawa Road,

Ratmalana,

 

Tel. No: (00 94 11) 263 5581 / 261 1553 / 263 6879 / 262 6926

Fax No: (00 94 11) 261 2123 / 262 6927

 

E-mail: ruhunu@slt.lk

 

Area : 10000 sq.ft

Location: Owned

 

Factory

:

No.9,

Lady Catherine Mawatha,

Borupana Road,

Ratmalana

 

Tel. No: (00 94 11) 263 4545

 

Area : 10000 sq.ft

Location: Owned

 

No. of Employees

:

Approximately 600

 

 

 

 

           

 

 COMPANY DETAILS

- Registration and Shareholder Details

 

Registration No

:

PVS 6005

Date of Registration

:

26th September 1979

Re-registration No

:

PV 8634

Date of Re-registration

:

28th October 2008

Registered Office

:

No.42, Maligawa Road, Ratmalana

Board Of Directors

As At

11th January 2011

:

D. Chula Rajapakse

Managing Director

Loku Bandara Wickramasinghe

Director

D. Saradiyas Rajapakse

Director

D. Nihal rajapakse

Director

R. Pushpa Shriyani

Director

R. A. M. Nelson Samarasinghe

Director

D. Dhanasiri Rajapakse

Director

Issued Share Capital

:

Rs.  18,000,000.00   

Nominal Value of Share

:

Rs. 10.00

Share Holders

As At

11th January 2011

:

 Share Holders

No of Shears

D. Nihal rajapakse

764,750

D. Chula Rajapakse

433,375

D. Dhanasiri Rajapakse

49,875

R. Pushpa Shriyani

129,750

D. Saradiyas Rajapakse

53,750

D. Pabodha B. Rajapakse

150,000

P. M. Rajapakse

150,000

Secretaries

:

Accounting and Secretarial services Bureau

Auditors

:

D. A. Abeywardena Associates

Colombo

Bankers

:

Hatton National Bank PLC, Colombo

National Development Bank PLC

Bank of Ceylon

Sampath Bank PLC

Type of Customers

:

End Users, OEM’s

 

 

 FINANCIAL DETAILS

- Most recent available Financial Information

     

    THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

Information parted by

 

Name               : Mr. D Chula Rajapakse                     

 

Designation     : Managing Directors

 

Contact No.      : 91 (009411) 2635581

 

Date                 : 05.05.2011

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                  The Subject Company RUHUNU CABLES (PVT) LTD is a Private    Limited   liability Company incorporated on 26th September 1979 under registration number PVS 6005 and then the company was re-registered on 28th October 2008 under registration number PV 8634.

 

·         Location.

 

The Subject Company is located at the client given address No.42, Maligawa Road, Ratmalana.

 

·         Operations Details.

 

General

The subject company primary line of business is Manufacturing and dealing electrical accessories, cables, wires and other materials

 

Products

Electrical accessories, cables, wires and other materials

 

 

Employees

                 Approximately 600

 

 

Trading Terms

 

Purchasing Term   : Cash, Credit (30 Days)

Selling Term          : Cash, Credit (30 Days)

 

 

·         Financial Data

 

                  The company has declined to provide information on its finances                

                 

 

·         General Comments

 

When the Subject Company was contacted they were very cooperative and polite in providing the 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 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:

Business Trend

Growing

Management Capability

Average

Commercial Morality

Average

Reputation

Average

Market Situation

Competitive

                                   


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.42

Euro

1

Rs.66.04

 

 

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.