MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

DOCKYARD GENERAL ENGINEERING SERVICES   (PVT) LTD

 

 

Registered Office :

# 223, Jayantha Mallimarachchi Mawatha, Colombo 14

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

15.05.1981

 

 

Com. Reg. No.:

PV 1974

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Specialized in civil and mechanical engineering projects

 

 

No. of Employees :

Approximately 50

 

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

:

 

DOCKYARD GENERAL ENGINEERING SERVICES   (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

 

Chairman

 

 :

Mangala P B Yapa

Primary Line of Business

:

 

Specialized in civil and mechanical engineering projects

 

Place of Business

:

 

# 223, Jayantha Mallimarachchi Mawatha,
Colombo 14,

Sri Lanka.

 

Tel. No: (00 94 11) 252 7980-1 

Fax No: (00 94 11) 252 2846

 

E Mail: nimalg@lankacom.net

 

Sales

&

Hardware Division

:

 

# 02, Srimath Bandaranayake Mawatha,

Colombo 12

 

Tel No: (00 94 11)242 4708 – 9

Fax No: (00 94 11) 471 4151

 

Email: dgesales@itmin.com

 

No. of  Employees

:

Approximately 50

           

 

 

COMPANY DETAILS

Registration and Shareholder Details

 

Registration No

:

PVS 7503

Date of Registration

:

15th May 1981

Re-registration No

 

PV 1974

Date of Re-registration

 

17th January 2008

Registered Office

:

# 223, Jayantha Mallimarachchi Mawatha, Colombo 14, Sri Lanka.

Board of Directors

As At

05th April 2012

:

 Y. Mangala Prema Banda

Chairman

Nakauchi Ahihiko

Director

Yoshihiro Kijima

Director

Issued Share Capital

:

Rs.               500,000.00

 

Nominal Value of Share

:

Rs.                         10.00       

 

Share Holders

As At

05th April 2012

 

 

                       Share Holders

No. of Shares

 

Colombo Dockyard PLC

      49,999

 

Mangala Prema Bandara Yapa

             01

 

Auditors

:

KPMG Ford Rhodes Thornton & Company

 

Company Secretaries

:

Manori Prasadika Mallikarachchi

 

Bankers

:

-Not Disclosed-

 

 

CURRENT INVESTIGATION

                                                                  

                                                                             Company Logo

                       

·         History.

 

The Subject Company DOCKYARD GENERAL ENGINEERING SERVICES   (PVT) LTD is a Private    Limited   liability Company originally registered on 15th May 1981. and reregistered on 17th January 2008

 

Dockyard General Engineering Serives (Pvt) Ltd., is a fully owned subsidiary of Colombo                              Dockyard PLC

 

 

·         Location.

                  The Subject Company is located at the client given address # 223, Jayantha Mallimarachchi                                  Mawatha, Colombo 14.

 

 

·         Operations Details.

 

General

 

The subject company specializes in civil and mechanical and engineering projects which are undrtaken on a turnkey basis, design to completion including consultancy.

 

Services

Design & Construction

Mechanical Engineering

Civil Engineering

Electrical Engineering

Heavy Fabrication

Installation

Commissioning

 

Consultation

Project Management

Contract Management

Marine Coating

Cathodic Protection

Chemicals, Moorings and Steel Ropes

Non Destructive Testing

Welder Qualification

 

Design & Construction Of:


* Penstock / Piling Work Hydro Power
* Multi Tier Chimneys - Large Scale
* Jetties and Shipways
* Spherical LPG Tanks and Floating Roof Petroleum Tank Farms
* Barges
* Bridge Construction & Refurbishment
* Proof Load Testing and Certification
* X-ray Testing of Welding Disciplines
* Grit / Shot Blasting and Airless Spray Painting
* Corrosion Control Procedures etc...

 

No of Employees

                  Approximately 50

 

 

·         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 are not required to make public disclosure of their annual financials. Therefore no

                  Financials are available for this entity

               

               

·         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.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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.