MIRA INFORM REPORT

 

 

Report Date :

06.08.2012

 

IDENTIFICATION DETAILS

 

Name :

UNIKEN LANKA LIMITED

 

 

Registered Office :

# 51, (1st Floor) Sri Sangaraja Mawatha, Colombo – 10

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

06.11.1996

 

 

Com. Reg. No.:

PB 1255

 

 

Legal Form :

Public Limited Liability Company (in operation) not listed with Colombo Stock Exchange

 

 

Line of Business :

Importing and distributing of Industrial Chemicals, Water Treatment Chemicals, Acids & allied products

 

                 

No. of Employees :

20

 

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

:

UNIKEN LANKA LIMITED

Legal Form  & Status

:

Public Limited Liability Company (in operation) not listed with Colombo Stock Exchange

Managing Director

 :

S. A. Abdul Latheef

Primary Line of Business

:

Importing and distributing of Industrial Chemicals, Water Treatment Chemicals, Acids & allied products.

Place of Business & Factory

:

 

# 51 A,

Sri Sangaraja Mawatha,

Colombo – 10,

Sri Lanka.

 

Tel. No: (00 94 11) 245 9747 / 243 0995

Fax No: (00 94 11) 243 6341

 

E Mail: uniken@sltnet.lk

Web: www.unikenlanka.com

Location : Owned

 

No. of  Employees

:

20

Customer Types           

 

·         End Users

Retailers

Wholesalers

 

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

N (PBS) 674

Date of Registration

:

6th November 1996

Re-registration No

:

PB 1255

Date of Re-registration

:

17th December 2009

Registered Office

:

# 51, (1st Floor) Sri Sangaraja Mawatha, Colombo – 10, Sri Lanka.

Board of Directors

As At

01st March 2011

:

 S. A. Abdul latheef

Managing Director

S. A. Mohamed Basik

Director

S. A. L. Mohamed Hussairy

Director

Hafeela Shanaz Fouz

Director

S. H. Mohamed Uvais

Director

Issued Share Capital

:

Rs.  13,536,320.00    

 

Nominal Value of Share

:

Rs.                10.00                 

 

Major Share Holders

As At

01st March 2011

 

 

                       Share Holders

No. of Shares

 

S. latheef

47,941

 

H. S. Fous

337,226

 

S. M. Ashroff

50,001

 

S. A. M. Basik

200,001

 

D. M. Rohini Gunasekera

109,241

 

 S. A. Abdul latheef

415,312

 

S.A.L. Mohamed Husair

100,000

 

Auditors

:

A. A. Latiff and Company

 

Company Secretaries

:

M.M. Hilaly Majeed

 

Bankers

:

Peoples Bank

 

 

 

Information Parted By:

 

Name               : Mr. Moha Jiri

Designation     : Accounts Executive

Mobile No.       : (009411) 2454747

Date                 : 04.08.2012

 

 

FINANCIAL DETAILS

- Most recent available Financial Information

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

                                                                                   

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with   Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

CURRENT INVESTIGATION

 

Company Logo

 

·         History.

 

                  The Subject Company UNIKEN LANKA LIMITED is a Private    Limited   liability Company incorporated in 13th February 2002. The subject company started as a partnership on 6th November 1996 under registration number N (PBS) 674 and then the company was re-registered on 17th December 2009 under registration number PB 1255.

 

·         Location.

 

The Subject Company is located at the client given address # 51, Sri Sangaraja Mawatha, Colombo – 10. The subject company office and warehouse are situated in they own building complex.

 

·         Operations Details.

 

General

The subject company primary line of business is Importing and distributing of Industrial Chemicals, Water Treatment Chemicals, Acids & allied products.

 

Products

o        Acetic Acid

o        Acetone

o        Aluminium Sulphate

o        Ammonium Sulphate

o        Ammonium Hydroxide( Liquid Ammonia)

o        Ammonium Chloride

o        Antifoam-Agent

o        Borax

o        Boric Acid

o        Butyl Glycol (BG)

o        Caustic Soda Flakes(Sodium Hydroxide)

o        Chlorine35%(Stable Bleaching Powder 35%)

o        Chlorine 70%(Superchlone)

o        Citric Acid

o        Calagan P.T.(Sodium Hexa Meta Phosphate)

o        Carbon Tetra Chloride-CTC

o        Corn Starch

o        Carbon Methyl Cellulose(CMC

o        De-Colourent

o        Die Ethyl Glycol(DEG)

o        Distilled Water

o        Formalin / Formaldehyde

o        Ferrous Sulphate Hecta Hydrate

o        Formic Acid

o        Hydrochloric Acid

o        Hydrated Lime (Calcium Hydroxide)

o        Hydrogen Peroxide 50%

o        Mono Ethylene Glycol (MEG)

o        Magnesium Chloride

o        Nitric Acid

o        Oxalic Acid

o        Perchloro Ethylene

o        Phosphoric Acid

o        Poly Vinyl Alcohol

o        Poly Aluminium Chloride (PAC)

o        Polychem AC 007(Air-conditioner fins & coils cleaner)

o        Polymers

o        Salt(NaCl) – Crystal / Powder

o        Silica Gel

o        Sodium Bi Carbonate

o        Sodium Carbonate(Soda Ash Lilght)

o        Sodium Hydro Sulphite (Hydro)

o        Sodium Hydroxide - Liquid

o        Sodium Hypochlorite 1% - 12%

o        Sodium Meta Bi Sulphite

o        Sodium Meta Silicat

 

Country

China, India, Singapore, Malaysia

 

Importer of

Products                                                    Chemicals

Country                                                      India, China, Iraq

 

Employees

                    20

 

·         Financial Data

The company has declined to provide information on its finances.

 

             Based on the corporate laws of Sri Lanka, legal entities which are Private Company with                  

Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

Trading Terms

Terms of Purchase       L/C, Cash, Credit (30-60 Days)

Terms of Sale              L/C, Cash, Credit (30-60 Days)

          

·         Trade references

                    Board of Investment, Sri Lanka, Sri Lanka Customs,

                   

 

·         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.56.08

UK Pound

1

Rs.87.03

Euro

1

Rs.68.36

 

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.