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Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PERFETTI VAN MELLE LANKA (PVT) LTD |
|
|
|
|
Registered Office : |
# 785/1, Colombo – Negambo Main Road, Liyanagemulla,
Seeduwa |
|
|
|
|
Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
23.10.2005 |
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|
|
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Com. Reg. No.: |
N(PVS) 43665 |
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|
|
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Legal Form : |
Private Limited Liability Company
|
|
|
|
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Line of Business : |
Manufacturing, Importing and Distributing of Sugar / Sugar Free
Confectionary Products. |
|
|
|
|
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 |
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|
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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, 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 |
|
Name of Subject of Inquiry |
: |
PERFETTI VAN
MELLE LANKA (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
Managing
Director |
: |
Ramesh Jayaram |
|
Primary Line of Business |
: |
Manufacturing, Importing
and Distributing of Sugar / Sugar Free Confectionary Products. |
|
Head office & Place of
Business |
: |
# 785/1, Colombo –
Negambo Main Road, Liyanagemulla, Seeduwa, Sri Lanka. Tel. No: (00 94 11) 237 0919 / 226 5112 Fax
No: (00 94 11) 5360332 / 226 5120 / 226 5119 Email:
info@sl.pvmgrp.com sandeep.jain@sl.pvmgrp.com |
|
No. of Employees |
: |
Not
Disclosed |
|
Registration No |
: |
N(PVS) 43665
|
||
|
Date of Registration |
|
23rd October 2005 |
||
|
Re-registration No |
: |
PV 840 |
||
|
Date of Re-registration |
|
17th October 2007 |
||
|
Registered Office |
: |
# 785/1, Colombo – Negambo
Main Road, Liyanagemulla, Seeduwa |
||
|
Board of Directors As at 22nd June 2012 |
: |
Ramesh Jayaram
|
Managing Director |
|
|
Swaminathan Jayanta Mootatamby |
Director |
|||
|
Stefano Pelle |
Director |
|||
|
Issued Total No. of Shares |
: |
132,698,302 |
||
|
Total shares value |
|
Rs. 985,493,020.00 |
||
|
Nominal Value of Share |
: |
Not applicable in terms of Companies Act.#7 of
2007 |
||
|
Share Holders As at 22nd June 2012 |
: |
Share Holders |
No. of Shares |
|
|
Stefano Pelle |
02 |
|||
|
Perfetti Van Mello Holding B.V |
132,698,300 |
|||
|
Auditors |
: |
SJMS Associates |
||
|
Company Secretaries |
: |
Jacey & Company |
||
|
Bankers |
: |
Not Disclosed |
||
01)
|
Name |
Stefano Pelle |
|
PP Number |
YA 0036168 |
|
Nationality |
Italy |
02)
|
Name |
Swaminathan Jayanta Mootatamby |
|
ID Number |
410091356 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
09th January 1941 |
|
Age |
72 Years |
03)
|
Name |
Ramesh Jayaramn |
|
PP Number |
Z 2017533 |
|
Nationality |
India |
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
4) CURRENT
INVESTIGATION
·
History
The Subject Company PERFETTI VAN MELLE (PVT) LTD is a Private Limited
liability Company incorporated on
23rd October 2005 under registration number N (PVS) 43665 and then the company was re-registered on 17th October 2007 under
registration number PV 840.
·
Location
The subject company is located at client # 785/1, Colombo –
Negambo Main
Road, Liyanagemulla, Seeduwa
Operational
Details.
·
General
The subject company primary line of business
is Manufacturing, Importing and
Distributing of Sugar / Sugar Free Confectionary Products.
Products
Confectionery, Sweet, Candy, Cake, Bakery Products
Brands
Mentos, Alpenliebe, Center Fresh and Center
Fruit.
Country
India
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
Sri Lanka - Italy Business Council
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.62.24 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.