MIRA INFORM REPORT

 

 

Report Date :

19.08.2013

 

IDENTIFICATION DETAILS

 

Name :

D M S ELECTRONICS (PVT) LTD

 

 

Registered Office :

# 147, Katuwana Industrial Estate, Katuwana Rd, Homagama

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

11.03.2009

 

 

Com. Reg. No.:

PV 12184

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Import & Distributors of Data Processing Equipment

 

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam (LTTE). The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises and increase agricultural productivity. The government's high debt payments and bloated civil service have contributed to historically high budget deficits, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. 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 with the end of the war and an IMF agreement, resulting in two straight years of 8% growth in 2010-11. Growth moderated to about 6% in 2012. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern. Strong remittances from Sri Lankan workers abroad have helped to offset the trade deficit.

 

Source : CIA

 

 

 

GENERAL

Basic information at a glance

     

Name of Subject of Inquiry

:

D M S ELECTRONICS (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Managing Director

:

R. Ruvan Tissa Nilkamal

Primary Line of Business

:

Import & Distributors of Data Processing Equipment

Head office

&

Place of Business

 

 

 

# 207/1, Dharmapala Mawatha,

Colombo 07,

Sri Lanka.

 

Tel. No: (00 94 11) 2677667 / 269 1649 / 268 5894 / 269 7855

Fax No: (00 94 11) 268 8216

 

E-mail: sales@dmselectronics.com

 

Accounts Office

 

 

# 221/5, Dharmapala Mawatha,

Colombo 07.

 

Tel. No: (00 94 11) 269 5092 / 268 5086 / 269 9585

Fax. No: (00 94 11) 269 9586

Sales Center

:

 

# 12/2, Tickel Road,

Colombo 05.

 

No. of Employees

:

Not Disclosed

           

 

COMPANY DETAILS 

Registration and Shareholder Details

 

Registration No

 

PVS 7437

Re-registration No

:

PV 12184

Date of Re-Registration

:

11th March 2009

Registered Office

:

# 147, Katuwana Industrial Estate, Katuwana Rd, Homagama, Sri Lanka.

Board of Directors

As At

14th January 2013

:

R. Ruvan Tissa Nilkamal

Managing Director

Chandranath Thambiayah Lalkumar

Director

Rajendran Krishnaswamy

Director

Janek Tissa Ratnatunga

Director

Issued Share Capital

:

Rs.                     6,000,000.00

Nominal Value of Share

:

Rs.                                 10.00

 

Share Holders

As At

14th January 2013

:

Share Holders

No. of

Shares

R. Ruvan Tissa Nilkamal

600,000

Auditors

:

Ernst & Young

Company Secretaries

:

R. Sinha Tissa Migara

Bankers

:

Commercial Bank, HSBC, Bank of Ceylon

 

 

Directors Details

 

      01)

Name

R. Ruvan Tissa Nilkamal

ID Number

482361757 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

23rd August 1948

Age

64 Years

 

      02)

Name

Chandranath Thambiayah Lalkumar

ID Number

53292540 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

18th October 1953

Age

59 Years

 

 

     03)

Name

Rajendran Krishnaswamy

ID Number

 55178065 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

26th June 1955

Age

57 Years

 

 

     04)

Name

Janek Tissa Ratnatunga

ID Number

521822511 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

30th June 1952

Age

61 Years

 

 

FINANCIAL DETAILS

Most recent available Financial Information

 

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                      

 

·         History.

                  The Subject Company D M S ELECTRONICS (PVT) LTD is a Private    Limited   liability Company incorporated on 11th March 2009 under registration number PV 12184.

 

                  The subject company is a member company of the DMS Group

 

             DMS Group of Companies

Data Management Systems Limited

DMS Electronics Limited

DMS Software Engineering [Pvt] Limited

DMS Software Technologies [Pvt] Limited

DMS Office Products Limited

DMS Garment Technologies [Pvt] Limited

 

·         Location.

The Subject Company place of business is # 207/1, Dharmapala Mawatha, Colombo 07.

 

·         Operational Details.

 

General

                    The subject company primary line of business is Import & Distributors of Data Processing Equipment

 

Products

Personal Computers, PC's & Servers, Laptops & handhelds Automated, Teller Machines, Switches, Routers, Electronic Payment Gateway Solutions and software 

. 

Brands

                   Compaq, HP, Symantec

 

Countries

USA, German, China

 

Employees

                    Not Disclosed

 

 

·         Financial Data

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

Not Available

 

·         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.61.82

UK Pound

1

Rs.96.57

Euro

1

Rs.82.45

 

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.