MIRA INFORM REPORT

 

 

Report Date :           

28.05.2011

 

IDENTIFICATION DETAILS

 

Name :

RICHARDSON ENGINEERING (PVT) LTD 

 

 

Registered Office :

# 342, 03rd Floor, Galle Road, Colombo 03

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

29.12.2008

 

 

Com. Reg. No.:

PV 66619

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturers of high and medium voltage electrical equipment, primarily for infrastructural electrical projects

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Sri Lanka

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Information parted by

 

Name               : Mr. M. Nazri Nizar

Designation     : director

Date                 : 27.05.2011

 

 

 Bottom of Form

GENERAL- Basic information at a glance

       

Name of Subject of Inquiry

:

 

RICHARDSON ENGINEERING (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company (In operation)

Managing Director

 :

M. Nazri Nizar

Primary Line of Business

:

Manufacturers of high and medium voltage electrical equipment, primarily for infrastructural electrical projects.

Place of Business

:

 

# 342, Level 03,

Galle Road,

Colombo 03,

Sri Lanka

 

Tel. No: (00 94 11) 256 4454

Fax No: (00 94 11) 256 4456

 

E Mail: info@richardsonsl.com

 

Factory

:

 

# 321/A, Parakkrama Road,

Peliyagoda,

Sri Lanka

 

Tel No: (00 94 11) 576 9053

 

No. of  Employees

:

Not Disclosed

 

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

PV 66619

Date of Registration

:

29th December 2008

Registered Office

:

# 342, 03rd Floor, Galle Road, Colombo 03

Board of Directors

As At

29th December 2008

:

M. Nazri Nizar

Managing  Director

Kishan Kanag- Isvaran

Director

Issued Share Capital

:

Rs. 20.00

Nominal Value of Share

:

Rs. 10.00                    

Share Holders

As At

29th December 2008

:

 

                       Share Holders

No. of Shares

M. Nazri Nizar

01

Kishan Kanag- Isvaran

01

Auditors

:

Not Applicable

Company Secretaries

:

G. R. G. Associates (Pvt) Ltd

Bankers

:

Nation Trust Bank, Commercial Bank 

 

 

CURRENT INVESTIGATION

                       

·         History.

The Subject Company RICHARDSON ENGINEERING (PVT) LTD is a Private    Limited   liability Company incorporated on 29th December 2008 under registration number PV 66619.

 

·         Location.

The Subject Company is located at the client given address # 342, Level 03, Galle Road, Colombo 03.

 

·         Operations Details.

 

General

The primary line of business of manufacturers of high and medium voltage electrical equipment, primarily for infrastructural electrical projects.

 

Trade Name

Moeller Switchgear

Furse Lightning Protection

 

Products

High and medium voltage electrical equipment

 

                       

 

Import Country

Germany, United Kingdom

 

No of Employees

                   Not Disclosed

 

 

·         Directors Information

 

             01)

Name

Kishan Kanag- Isvaran

Gender

Male

Nationality

Sri Lankan

National ID No.

693631360 V

Date of Birth

28th December 1969

Age

41 Years

Address

# 104, Isipathana Mawatha, Colombo 05

 

 

                02)

Name

M. Nazri Nizar

Gender

Male

Nationality

Sri Lankan

National ID No.

712530928 V

Date of Birth

09th September 1971

Age

39 Years

Address

# 35/1 B, Elibank Road, Colombo 05

 

·         Financial Data

The company has declined to provide information on its finances      

 

             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.45.21

UK Pound

1

Rs.74.31

Euro

1

Rs.64.40

 

 

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.