MIRA INFORM REPORT

 

 

Report Date :           

22.10.2011

 

IDENTIFICATION DETAILS

 

Name :

MERBOK MDF LANKA (PVT) LIMITED

 

 

Registered Office :

# 9/5, Thambiah Avenue, Colombo-07

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

22.12.2000

 

 

Com. Reg. No.:

PV 10311

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacture & Export  of MDF Boards

 

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 – 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

:

MERBOK MDF LANKA (PVT) LIMITED

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Chairman

:

Robert Kokshoorn

Primary Line of Business

:

Manufacture & Export  of MDF Boards

Head office, Factory

&

Place of Business

 

:

 

Export Processing Zone,

Ratnapura Road,

Gurugoda

Horana.

Sri Lanka

 

 

Tel. No: (00 94 34) 225 5502 / 429 8639

Fax. No: (00 94 34) 225 5504

 

E-Mail: sales@merbok.com

 

No. of Employees

:

-Not Disclosed-

           

 

 

COMPANY DETAILS-Registration and Shareholder Details

 

Registration No

:

N (PVS) 27617

Date of Registration

 

22nd December 2000

Re-registration No

:

PV 10311

Date of Re-registration

 

18th December 2008

Registered Office

:

# 9/5, Thambiah Avenue, Colombo-07

Board of Directors

As At

16th June 2010

:

Robert Kokshoorn

Chairman

Richard Anthony Whithman

Director

Dominic Andrla

Director

Maxwell Alexender Norris

Director

Issued Share Capital

:

Rs.  540,000,000.00              

Nominal Value of Share

:

Rs.                   10.00

 

Share Holders

As At

16th June 2010

:

Share Holders

No. of

Shares

Richard Anthony Whithman

01

Merbok Hilir Group (BVI) Limited

53,999,999

Auditors

:

Ford Rhodes Thornton & Company

Company Secretaries

:

Jacey & Company

Bankers

:

-Not Disclosed-

 

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                  The Subject Company MERBOK MDF LANKA (PVT) LIMITE is a Private    Limited   liability Company incorporated on 22nd December 2000 under the registration number N (PVS) 27617 and then re-registered under the registration number PV 10311 on 18th December 2008, in terms of Registrar of companies Act. # 7 of 2007.

 

·         Location.

                The Subject Company is located at client given address Export Processing Zone, Ratnapura Road,Gurugoda Horana. Approx.  40 kilo meters from Colombo.

 

 

 

 

·         Operational Details.

 

General

                    The subject company primary line of business is Manufacture & Export a of MDF Boards.

 

Products

MDF Boards.

 

Export Country

Indian Sub Continent, Middle East

 

No of Employees

                    Not Disclosed

 

·         Director Details

01)

Name

Robert Kokshoorn

PP Number

BA0079874

Nationality

Dutch

 

 

02)

Name

Richard Anthony Whithman

PP Number

E 7074474

Nationality

Australia

 

 

03)

Name

Dominic Andrla

ID Number

761076803

Nationality

Sri Lankan

 

 

04)

Name

Maxwell Alexander Norris

PP Number

761034312

Nationality

British

 

 

·         Financial Data

 

The company has declined to provide information on its finances.

 

                   In Sri Lanka, Private Limited Liability Companies do not publish their Accounts for 

                   Public use, other than the shareholders.

 

·         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.50.07

UK Pound

1

Rs.79.16

Euro

1

Rs.69.04

 

 

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.