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Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BETTANS GROUPS OF COMPANIES (PVT) LTD |
|
|
|
|
Registered Office : |
127 /10, Old Kandy Road, Dalugama Kelaniya |
|
|
|
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Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
04.07.2001 |
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|
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Com. Reg. No.: |
PV 4051 |
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|
|
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Legal Form : |
Private Limited Liability Company
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|
|
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Line of Business : |
Manufacture, Import and export of shoes |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
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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 |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka continues to experience strong economic growth, driven by large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE. Sri Lanka is pursuing a combination of government directed policies, private investment, both foreign and domestic, to spur growth in disadvantaged areas, develop small and medium enterprises, and increase agricultural productivity. The government struggles with high debt interest payments, a bloated civil service, and historically high budget deficits. However recent reforms to the tax code have resulted in higher revenue and lower budget deficits in recent years. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded strongly with the end of the war and an IMF agreement, resulting in two straight years of high growth in 2010 and 2011. Per capita income of $5,600 on a purchasing power parity basis is among the highest in the region.
|
Source
: CIA |
|
Name of Subject of Inquiry |
: |
BETTANS GROUPS
OF COMPANIES (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
Managing
Director |
: |
K.L .Chanralal De
Silva |
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Primary Line of Business |
: |
Manufacture, Import and export of shoes |
|
Head office & Place of
Business |
: |
# 127/ 10, Old Kandy
, Road Delugama Kelaniya Tel. No: (00 94 11) 291 3994 Fax
No: (00 94 11) 291 0678 Email:
bettansshoes@gamil.com |
|
No. of Employees |
: |
Not
Disclosed |
|
Registration No |
: |
N (PVS) 28764 |
||
|
Date of Registration |
|
04th July 2001 |
||
|
Re-registration No |
: |
PV 4051 |
||
|
Date of Re-registration |
|
03rd July 2008 |
||
|
Registered Office |
: |
127 /10, Old Kandy
Road, Dalugama Kelaniya. |
||
|
Board of Directors As at 31st March 2010 |
: |
K.L. Chanralal De
Silva |
Managing Director |
|
|
K. l. Laksman |
Director |
|||
|
K .K.Dayaka |
Director |
|||
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Issued Share Capital |
: |
Rs.
10,000,060.00 |
||
|
Nominal Value of Share |
: |
Rs.
10.00 |
||
|
Share Holders As at 31st March 2010 |
: |
Share Holders |
No. of Shares |
|
|
K .K.Dayaka |
70,001 |
|||
|
K.L. Chanralal De
Silva |
900,001 |
|||
|
K. l .Indralal De
Silva |
01 |
|||
|
Auditors |
: |
B. V. Fernando
and Company |
||
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Company Secretaries |
: |
Vantage Corporate Services (Pvt) Ltd |
||
|
Bankers |
: |
Not Disclosed |
||
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
·
History
The Subject Company BETTANS GROUPS OF COMPANIES (PVT) LTD is a Private Limited
liability Company incorporated on 04th July 2001 on number N (PVS) 28764 and then the company
was re-registered
on 03rd June 2008 under
registration number PV 4051.
·
Location.
The Subject
Company is located at client given address # 127 /10, Old Kandy Road, Dalugama, Kelaniya
·
Operational
Details.
General
The subject company primary line of
business is Manufacture, Import and
export of shoes
Products
Shoes Gents, Shoes
Ladies Soles
Country
Worldwide
Employees
Not Disclosed
·
Directors Details
01)
|
Name |
K.L. Chanralal De
Silva |
|
ID Number |
570321692 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
01st February 1957 |
|
Age |
55 Years |
02)
|
Name |
K. l. Laksman |
|
ID Number |
470981652 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
07th April 1947 |
|
Age |
65 Years |
03)
|
Name |
K .K.Dayaka |
|
ID Number |
565722760 V |
|
Nationality |
Sri Lankan |
|
Gender |
Female |
|
Date Of Birth |
12th March 1956 |
|
Age |
56 Years |
·
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
·
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.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.