MIRA INFORM REPORT

 

 

Report Date :

14.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MCLARENS LUBRICANTS (PVT) LTD

 

 

Registered Office :

# 123, Bauddhaloka Mawatha, Colombo -04

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

27.11.1997

 

 

Com. Reg. No.:

N(PVS) 20160                          

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Importer & Supplier of Petroleum Products and its Chemical

 

 

No. of Employees :

Not Available

 

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 30, 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

:

 

MCLARENS LUBRICANTS (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Chairman

:

John Rohan Upali De Silva

Primary Line of Business

:

Importer & Supplier of Petroleum Products and its Chemical

Head office

&

Place of Business

 

:

 

#.284, Vauxhall Street,

Colombo -02

Sri Lanka.

 

Tel. No: (00 94 11)

Fax No: (00 94 11)

 

Email: secretarial@mclarenslubes.lk

 

No. of Employees

:

Not Disclosed

           

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

Registration No

:

N(PVS) 20160                          

Date of Registration

 

27th November 1997

Registered Office

:

# 123, Bauddhaloka Mawatha, Colombo -04

Board of Directors

As at

31st December 2009

:

John Rohan Upali De Silva

Chairman

Ponnambalam Brihadisvara

Director

M.G. Padmabamandu

Director

M. Hemantha Varansooriya

Director

Dinesh Mahasir Jayawardena

Director

Issued Share Capital

:

Rs.    52,500,050.00              

Nominal Value of Share

:

Rs.                 10.00                    

 

Share Holders

As at

31st December 2009

:

Share Holders

No. of

Shares

John Rohan Upali De Silva

01

Dinesh Mahasir Jayawardena

01

Mclarens Holdings Ltd

5,249,999

Mclarens International

01

M.G. Padmabamandu

01

Ponnambalam Brihadisvara

01

M. Hemantha Varansooriya

01

Auditors

:

C Manel Associates

Company Secretaries

:

G. Chandrika Manel

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS

- Most recent available Financial Information

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

information declined by

 

Name                : Mr. Lusontha Parera

Designation       : Finance Manager

Date                 : 14.02.2012


Current investigation

 

                                                            

                                                                Company Logo

 

·         History

 

                  The Subject Company MCLARENS LUBRICANTS (PVT) LTD is a Private    Limited   liability Company incorporated on 27th November 1997 under registration number N (PVS) 20160.

 

 

·         Location.

 

                   The subject company is located at client given address #.284, Vauxhall Street,

Colombo -02

 

·         Operational Details.

 

General

 

            The subject company primary line of business is Importer & Supplier of Petroleum Products and Chemical.

 

 

            Products

Engine Oil and Chemical Products

 

Country

China, Korea

 

Employees

                  Not Disclosed

·         Directors Details

 

         01)

Name

John Rohan Upali De Silva

ID Number

522420565 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

29th August 1952

Age

59 Years

 

 

         02)

Name

Ponnambalam Brihadisvara

ID Number

471793027 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

27th June 1947

Age

64 Years

 

 

         03)

Name

M.G. Padmabamandu

ID Number

493380672 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

03rd December 1949

Age

62 Years

 

 

         04)

Name

M. Hemantha Varansooriya

ID Number

671090772 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

18th April 1967

Age

44 Years

 

 

         05)

Name

Dinesh Mahasir Jayawardena

ID Number

742060390 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

24th July 1974

Age

37 Years

 

·         Financial Data

The company has declined to provide information on its finances

                  In Sri Lanka, Private Companies do not publish their Accounts for Public use  

Other than the Shareholders

 

·         General Comments

The subject company when contacted and they were provided some operational basic Details to prepare 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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.32

UK Pound

1

Rs.77.84

Euro

1

Rs.65.35

 

 

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.