MIRA INFORM REPORT

 

 

Report Date :

27.04.2012

 

IDENTIFICATION DETAILS

 

Name :

PRINTCARE UNIVERSAL (PVT) LTD

 

 

Registered Office :

# 77, Nungamugoda Road, Kelaniya.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

25.04.1990

 

 

Com. Reg. No.:

PV 17666

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturers, Printers & Exporters of all types of printed material.

 

 

No. of Employees :

200

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

:

PRINTCARE UNIVERSAL (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Chairman

:

Meril Joseph Fernando

Primary Line of Business

:

Manufacturers, Printers& Exporters of all types of printed material.

Head office,

&

Factory

:

 

# 77, Nungamugoda Road,

Kelaniya.

SRI LANKA                      

 

Tel. No: (00 94 11) 482 9292

Fax No: (00 94 11) 291 2790

 

E. Mail:  printcare@printcare.lk / kishore@printcare.lk

Location : Owned

 

No. of Employees

:

200

 

 

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

N (PVS) 6359

Date of Registration

:

25th April 1990

Re-registration No

 

PV 17666

Date of Re-registration

 

25th January 2010

Registered Office

:

# 77, Nungamugoda Road, Kelaniya. Sri Lanka

Board of Directors

As at

14th October 2011

:

Meril Joseph Fernando

Chairman

K. Ratnam Ravindan

Director

Chatoor Ejaz

Director

E.A. Nuruddin

Director

D. Warnakulasooriya

Director

Malik Joseph Fernando

Director

Issued Share Capital

:

Rs.         44,150,000.00

Nominal Value of Share

:

Rs.                       10.00

Share Holders

As at

14th October 2011

:

 Share Holders

No. of Shares

Print Care (Ceylon) Ltd

4,414,998

Meril Joseph Fernando

01

K.Ratnam Ravindan

01

Auditors

:

Ernst & Young

Company Secretaries

:

Managers & Secretaries (Pvt) Ltd

Bankers

:

National Development Bank, HSBC, Seylan Bank, Bank of Ceylon, Deutsch Bank, City Bank N.A.,

Parent Company

:

Printers PLC

Trading Terms

:

Selling Terms: L/C, Cash, Credit

Purchasing Terms: L/C, Cash, Credit

Types customers

:

·         Retailers

Wholesalers

 

Information Parted By:

 

Name               : Mr. Kishore

Designation     : Finance Manager

Mobile No.       : 0094 7730 47328

Date                 : 24.04.2012

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                    The Subject Company PRINTCARE UNIVERSAL (PVT) LTD is a Private Limited   liability Company incorporated on 25th April 1990 under registration No. N(PVS) 6359 and then the company was re-registered on 25th January 2010 under registration number PV 17666.

                    Initially the subject company was named as “Universal Packaging (PVT) Ltd” and it changed to “PRINTCARE UNIVERSAL (PVT) LTD” on 18th December, 2007.

 

                    The subject company is a subsidiary company of PRINTCARE PLC which is having four other. Companies under its umbrella.

                 

                  The other associate companies are :-

                             Printcare Packaging (Pvt) Ltd.

                             Printcare Publishing (Pvt) Ltd

     Printcare Secure Ltd.

     Jennings  Printcare Lanka Ltd.

                   Above companies are also located at the same client given address.

 

·         Location.

The Subject Company is located at the client given address # 77, Nungamugoda Road, Kelaniya approx.10 kilo meters from Colombo, on the Highway 1.

 

·         Operational Details.

 

General

                  The subject company’s primary line of business is manufacturing and printing all types of cartons for local and overseas manufacturing, exporting industries. They handle:

-          Printing and finishing of cartons for the super quality spectrum

-          Cartons & labels for tea, gift items, greeting cards, cosmetics & health care, goods & beverages.  and

-          Capacity to print and finish on poly materials and laminate

-           

The Group have been awarded ISO 9001-2000 and several other awards like : Excellence in Packaging-2005; SAAP Asia Printer of the Year 2006; Business Superbrand etc.

 

Products

Cartons, Calendars, Advertising material, Tea tags,/bags/Envelopes/labels, Phone Pre Paid cards, Garments packaging/tags, Gift and consumer good packing/tags etc.

Beverages Labels, Greeting cards, Magazines, Security printing, recycled hand made products

 

Exporting Country

                    UK, EU, Middle East, Australia

 

Exporting Products

                  Printed Material

 

Importing Country

Japan, India, Indonesia

Importing Products

      Raw Material

 

Employees

200.

 

·         DIRECTORS’ DETAILS

 

1)

Name

M.J.Fernando

Nationality

Sri Lankan

ID Number

301272286V

Date of birth

6th May, 1930

Age

80 Years

Address

83/6, Buthgamuwa  Road, Rajagiriya

 

2)

Name

K.R. Ravindran

Nationality

Sri Lankan

ID Number

521521597V

Date of birth

31st May, 1952

Age

58 Years

Address

24/A, Clifford Avenue, Colombo 03

 

3)

Name

Chattor Ejaz

Nationality

Sri Lankan

ID Number

572460258V

Date of birth

2nd September 1957

Age

53 Years

Address

22, De Fonseka  Road, Colombo 05

 

4)

Name

E.A. Nuruddin

Nationality

Sri Lankan

ID Number

523324527V

Date of birth

27th November,1952

Age

57 Years

Address

# 8, Jawatte Road, Colombo 05

 

5)

Name

D. Warnakulasooriya

Nationality

Sri Lankan

ID Number

390681364V

Date of birth

8th March, 1939

Age

71 Years

Address

147, Park Road, Colombo 05

 

6)

Name

Malik Joseph Fernando

Nationality

Sri Lankan

ID Number

660374140 V

Date of birth

6th February, 1966

Age

46 Years

 

·         Financial Data

                 The company has declined to provide any financial information

 

                  Financial details of Private Limited/Proprietorship/Partnership companies are not

                  Made available for the public to view

                 

·         Trade references

                  The subject company has provided the following trade reference referrals

                  Their clientele includes locally and internationally renowned establishments such as:-

 

Reebok, Emirates, Marks& Spencer, Royal Jordanian Airlines, Cathay Pacific, KFC, MacDonald, Lipton Tea, Dilmah Tea, Lion Brewery, Ronnefeldt, Ahamed Tea and many more.

 

·         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.52.57

UK Pound

1

Rs.85.03

Euro

1

Rs.69.56

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.