|
Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
C E I
PLASTICS LTD. |
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|
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Registered Office : |
#108, 4th Floor, W.A.D.Ramanayake Mawatha,Colombo-02 |
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|
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Country : |
Sri Lanka |
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Date of Incorporation : |
16.12.1963 |
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Com. Reg. No.: |
PBS/458 |
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Legal Form : |
Private limited liability Company (In Operation) |
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|
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Line of Business : |
Manufacture and Distributor of plastics items. |
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|
|
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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 |
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Maximum Credit Limit: |
-- |
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Status : |
Moderate |
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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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
|
a. |
Name of Subject of Inquiry |
: |
C E I PLASTICS LTD. |
|
b. |
Legal Form & Status |
: |
Private limited liability Company (In Operation) |
|
c. |
Managing
Director |
: |
Sohli
Edulji Captain. |
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d. |
Primary Line of Business |
: |
Manufacture and
Distributor of plastics items. |
|
e. |
Head office |
|
4th Floor, Propertex Court, # 108,
W.A.D. Ramanayake Mawatha, Colombo-02, Sri Lanka. Tel No: (00 94 11) 233 0128 233 1289-94 Fax No: (00 94 11)
244 0490 E-mail: propertex@eureka.lk |
|
Factory |
: |
Batakeththara
Road, Madapatha, Piliyandala. Tel.
No: (00 94 11) 270 6479 / 270 7619 / 270 7615 / 270 6052 |
|
|
f. |
No. of Employees |
: |
Not
Disclosed |
|
a. |
Registration No |
: |
PBS/458 |
|
|
Date of Registration |
: |
16th
December 1963 |
||
|
b. |
Registration No |
|
PB 397 |
|
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Date of Registration |
|
24th October 2008 |
||
|
c. |
Registered Office |
: |
#108, 4th Floor, W.A.D.Ramanayake
Mawatha,Colombo-02, Sri Lanka |
|
|
d |
Board of Directors As At 14th January 2012 |
|
Sohli
Edulji Captain. |
Managing Director |
|
Shattar
Oraja Wijesekara. |
Director |
|||
|
Sam Peter
Sirimanne |
Director |
|||
|
Tuan Anver
Dole |
Director |
|||
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Rusi Sohli
Captain |
Director |
|||
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. Leesha Anne Captain |
Director |
|||
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e. |
Issued Share Capital |
: |
Rs. 50,000,000.00 |
|
|
f. |
Nominal Value of Share |
: |
Rs. 10.00 |
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|
g |
Major Share Holders As At 14th January 2012 |
: |
Major Share
Holders |
No. of Shares |
|
Alexander Richard Nevil De Fonseka |
8,327 |
|||
|
Sohli
Edulji Captain. |
203,884 |
|||
|
Polypack Secco Ltd |
3,413,985 |
|||
|
G.D. Wijesekera |
53,331 |
|||
|
Leesha Anne Captain |
878,111 |
|||
|
Paints and General Industries Ltd |
427,130 |
|||
|
Lorna De Fonseka |
13,876 |
|||
|
h. |
Auditors |
: |
K P M Ford
Rhodes Thornton And Company |
|
|
i. |
Company Secretaries |
: |
Hulugalle Association (Pvt) Ltd. |
|
|
j. |
Bankers |
: |
Sampath Bank |
|
- 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 Li
Ability is not required to make public
disclosure of their annual financials. Therefore no financials are
Available for this entity
Note: In Absence of
Financials we cannot provide any credit limit.
·
History.
The Subject Company C E I PLASTICS LTD is a Private
Limited liability Company incorporated
on 6th December 1963. Under
registration number PBS 458 and
then the company was re-registered on 24th
October 2008 under registration number
PB 397.
·
Location.
The subject company head
office is located at the client # 108, 4th
Floor,
W.A.D. Ramanayake Mawatha,
Colombo-02 and factory located at Batakeththara
Road, Madapatha,
Piliyandala
·
Operational
Details.
General
The subject company primary
line of business is Manufacture and
Distributor of plastics items.
Products
Plastic Products.
Country
Europe and
Singapore.
Employees
Not Disclosed
·
Financial Data
The subject company financial information has been obtained from non
formal source.
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
Patron Members of the Plastics & Rubber Institute
·
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.55.33 |
|
|
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.57 |
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.