MIRA INFORM REPORT

 

 

Report Date :

28.07.2012

 

IDENTIFICATION DETAILS

 

Name :

AMSAFE BRIDPORT (PVT) LTD

 

 

Registered Office :

Wathupitawala EPZ, Wathupitawala, Nittambuwa

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

23.01.2001

 

 

Com. Reg. No.:

N (PVS) 27761

 

 

Legal Form :

Private Limited Liability Company (In Operation)

 

 

Line of Business :

Manufacturer and Export of Aircraft & Cargo products

 

 

No. of Employees :

Approximately 500

 

 

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 :

No Complaints

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

:

AMSAFE BRIDPORT (PVT) LTD

Legal Form  & Status

 

:

 

Private Limited Liability Company (In Operation)

Managing Director

:

Ian Paul Kentfield

Primary Line of Business

:

Manufacturer and Export of Aircraft & Cargo products

Head Office

&

Factory

:

Wathupitawala EPZ, Wathupitawala,

Nittambuwa,

Sri Lanka.

 

Tel: (00 94 33) 467 8400

Fax: (00 94 33) 467 8313

Mobile : 0094777878466 (Mr. Shiran)

 

Email:  sales-asb@amsafe.com 

            Shiran.d@amsafe.com

 

Web Site: www.amsafe.com  

 

Location : Owned

Sales Administration office

:

 

# 10, 3rd Floor, Gothami Road,

Colombo -08,

Sri Lanka

 

Tel: (00 94 33) 451 6888

Fax: (00 94 33) 4451 6880

 

 

No. of Employees

:

Approximately 500


COMPANY DETAILS

– Registration and Share holder’s details

 

 

Registration No

:

N (PVS) 27761

Date of Registration

:

23rd January 2001

Re-Registration No

:

PV 10891

Date of Re-Registration

 

11th September 2007

Registered Office

:

Wathupitiwala Export Processing Zone, Wathupitiwala, Nittambuwa.

Board of Directors

As at

12th July 2011

:

Ian Paul Kentfield

Managing Director

Lyons Dennis Edward

Director

Wendy Hagley

Director

Chandani

Director

Issued  Share Capital

:

LKR.           5,000,020.00

Nominal Value of Share

:

LKR.                        10.00

Share Holders

As at

12th July 2011

:

Share Holders

No. of    Shares

AMSAFE Inc   (Co incorp in America)   

250,001

Bridport air Carrier Inc    (Co incorp in USA)      

    250,001

Auditors

:

SJMS Associates

Company Secretaries

:

Jacey and Company

Bankers

:

HSBC Bank

Customer

:

Wholesaler, Retailers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

Information parted by

(GENERAL DETAILS)

 

Name                            : Mr. Shiran

Designation                   : Accounts Manager

Contact                         : 94-777878466

Date: 24.07.2012

 

 

CURRENT INVESTIGATION

 

                                                           

                                  

                                                  Company Logo

 

 

·         History.

 

                 The Subject Company AMSAFE BRIDPORT (PVT) LTD is a Private    Limited   liability Company incorporated on 23rd January 2001 under Reg. No N (PVS) 27761. The company was re-registered on 11th September 2007 under Reg. No PV 10891 vide new Companies Act – 07 of 2007.  

 

                  The Subject Company was originally incorporated as a BRIDPORT AVIATION LANKA (PVT) LTD and then changed to Client given name AMSAFE BRIDPORT (PVT) LTD on 18th August 2005.

 

 

·         Location.

 

The Subject Company is located at the client given address Wathupitawala Export Processing Zone, Wathupitawala, Nittambuwa.

 

The subject company also have a Sales Administration Office in # 10, 3rd Floor, Gothami Road, Colombo -08.

 

 

·         Operational Details.

 

General

                  The subject company primary line of business is Manufacturer and Export of Aircraft & Cargo products.

 

Products

Barrier nets, Tie down Straps, Aviation Child Seat, Aviation Air Bag, Belly hold Nets, Pallet Nets

                       


                                               

Export Country

Europe Countries, Middle East Countries, Asian Countries

 

No of Employees

                  Approximately 500

 

 

     Products

·         Restraint Systems

·         Child Restraint Products

·         Aviation Airbags

·         Cargo and Barrier Nets

·         Tie-down Systems

·         Helicopter Underslung Load Equipment

·         Aircraft Cabin Interior Products

 

 Trading Terms

 Purchase : Cash, Credit

 Selling: Cash, Credit

 

 

 

·         Directors Details

01)

Name

Ian Paul Kentfield

PP or ID Number

706313187

Nationality

British

 

02)

Name

Lyons Dennis Edward

PP or ID Number

421947936

Nationality

U.S.A

 

03)

Name

Wendy Hagley

PP or ID Number

202884130

Nationality

British

 

 

04)

Name

Chandani

 

 

·         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

 

 

·         General Comments           

                  The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information

 

               

·         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.55.41

UK Pound

1

Rs.86.93

Euro

1

Rs.68.10

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.