|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
M.C. DAMBULLA (PVT) LTD |
|
|
|
|
Registered Office : |
A 3-3, Economic
Center, Kandy Road, Dambulla. |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
21.04.2006 |
|
|
|
|
Com. Reg. No.: |
PV 13446 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importer & Distributors of Food Stuff such as Potato,
Dhal & Onions |
|
|
|
|
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 |
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|
|
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
: |
M.C. DAMBULLA (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
Managing
Director |
: |
D. Samantha Silva |
|
Primary Line of Business |
: |
Import &
Distributors of Food Stuff |
|
Head office & Place of
Business |
: |
A 3-3, Economic Center, Kandy Road, Dambulla, Sri Lanka. Tel
No: (00 94 66) 228 3435 / 366 2423 |
|
No. of Employees |
: |
Not
Disclosed |
|
Registration No |
: |
N(PVS) 45909 |
||
|
Date of Registration |
: |
21st
April 2006 |
||
|
Re-registration No |
: |
PV 13446 |
||
|
Date of Re-registration |
: |
26th
May 2009 |
||
|
Registered Office |
: |
A 3-3, Economic Center, Kandy Road,
Dambulla. |
||
|
Board of Directors As At 05th September 2013 |
: |
D. Samantha Silva |
Managing Director |
|
|
W.D. Athula
Premasiri |
Director |
|||
|
Issued Share Capital |
: |
Rs. 20.00 |
||
|
Nominal Value of Share |
: |
Rs. 10.00 |
||
|
Share Holders As At 05th September
2013 |
: |
Share Holders |
No. of Shares |
|
|
D. Samantha Silva |
01 |
|||
|
W.D. Athula
Premasiri |
01 |
|||
|
Auditors |
: |
B.R. De Silva & Company |
||
|
Company Secretaries |
: |
Nexia Corporate Consultants (Pvt) Ltd |
||
|
Bankers |
: |
Seylan Bank Plc |
||
01)
|
Name |
D. Samantha Silva |
|
Sex |
Female |
|
ID Number |
698362251 V |
|
Date of Birth |
01st December 1969 |
|
Age |
44 Years |
|
Nationality |
Sri Lankan |
02)
|
Name |
W.D. Athula Premasiri |
|
Sex |
Male |
|
ID Number |
641562203 V |
|
Date of Birth |
04th June 1964 |
|
Age |
50 Years |
|
Nationality |
Sri Lankan |
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
·
History.
The Subject Company M.C.
DAMBULLA (PVT) LTD is a
Private Limited liability Company incorporated on 21st
April 2006 under registration N (PVS) 45909 and then the
company was re-registered on 26th May 2009 under registration
number PV 13446.
·
Location.
The Subject Company is located at client A
3-3, Economic Center, Kandy Road, Dambulla
·
Operational
Details.
General
The subject company primary line of
business is Import & Distributors of
Food Stuff.
Products
Potato,
Dhal, Onions
Countries
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
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.61.99 |
|
UK Pound |
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
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.