|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CEYLINE PHARMACEUTICALS (PVT) LTD |
|
|
|
|
Registered Office : |
# 1, Alfred House Avenue,
Colombo 03 |
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|
|
|
Country : |
Sri Lanka |
|
|
|
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Date of Incorporation : |
26.03.2012 |
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|
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Com. Reg. No.: |
PV 83754 |
|
|
|
|
Legal Form : |
Private Limited Liability Company (In operation) |
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|
|
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Line of Business : |
Import & Distributors of Pharmaceuticals |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 |
: |
CEYLINE
PHARMACEUTICALS (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In operation) |
|
Managing
Director |
: |
Sumith Nishantha Premaratne |
|
Primary Line of Business |
: |
Import
& Distributors of Pharmaceuticals |
|
Head Office & Place of
Business |
: |
# 1, Alfred House Avenue, Colombo 03, Sri Lanka. Tel.
No: (00 94 11) 451 1000 Fax No: (00 94 11) 451 1006 |
|
No. of Employees |
: |
Not
Disclosed |
- Registration
and Shareholder Details
|
Registration No |
: |
PV 83754 |
||
|
Date of
Registration |
: |
26th March 2012 |
||
|
Registered
Office |
: |
01,
Alfred House Avenue , Colombo 03 |
||
|
Board Of
Directors As At 26th
March 2012 |
: |
Sumith Nishantha Premaratne |
Managing Director |
|
|
Cholmondely
Lakdasa Wickramanayake |
Director |
|||
|
Capt. P. Ajith
Priyantha Peiris |
Director |
|||
|
Hemantha Kumara Jayanetti |
Director |
|||
|
Issued Share
Capital |
: |
LKR. 100,010.00 |
||
|
Nominal Value of
Share |
: |
LKR. 10.00 |
||
|
Major Share
Holders As At 26th March 2012 |
: |
Major Share
Holders |
No of Shears |
|
|
Ceyline Holdings
(Pvt) Ltd |
5,5001 |
|||
|
Sumith Nishantha Premaratne |
4,500 |
|||
Secretaries
|
:
|
Businessmate (Pvt) Ltd |
||
|
Bankers |
: |
Not Disclosed |
||
- Most recent available Financial Information
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 CEYLINE PHARMACEUTICALS (PVT) LTD is a Private Limited
liability Company incorporated on 26th
March 2012 under
registration number PV 83754.
·
Location.
The Subject
Company is located at the client 01,
Alfred House Avenue ,Colombo 03
.
·
Operations
Details.
General
The subject
company primary line of business is Import
& Distributors of Pharmaceuticals
Products
Pharmaceuticals Products
and Medicine
Import Countries
India
Employees
Not Disclosed
·
Directors Details
01)
|
Name |
Hemantha Kumara Jayanetti |
|
ID Number |
550372932 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
06th February 1955 |
|
Age |
58 Years |
02)
|
Name |
Cholmondely Lakdasa Wickramanayake |
|
ID Number |
390300026 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
28th January 1939 |
|
Age |
74 Years |
03)
|
Name |
Capt. P. Ajith Priyantha Peiris |
|
ID Number |
560852380 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
03rd July 1956 |
|
Age |
57 Years |
04)
|
Name |
Sumith
Nishantha Premaratne |
|
ID Number |
713362450 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
01st December 1971 |
|
Age |
42 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
·
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.54.39 |
|
|
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.