MIRA INFORM REPORT

 

 

Report Date :

30.01.2013

 

IDENTIFICATION DETAILS

 

Name :

EUROKITCHENS TRADING & CONTRACTING (PVT) LTD

 

 

Registered Office :

# 239/2, Hill Street, Dehiwala.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

23.02.2012

 

 

Com. Reg. No.:

PV 84459

 

 

Legal Form :

Private Limited Liability Company (In Operation)

 

 

Line of Business :

Importers and  Suppliers of kitchen pantry ware 

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

New Business

 

--

 

Status :

New Business

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 – 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

GENERAL

- Basic information at a glance

 

Name of Subject of Inquiry

:

 

EUROKITCHENS TRADING & CONTRACTING (PVT) LTD

 

Legal Form  & Status

 

:

 

Private Limited Liability Company (In Operation)

Managing Director

 :

M. A. Mohamed Shamrin

Primary Line of Business

:

Importers and  Suppliers of kitchen pantry ware 

Head Office

&

Factory

:

# 33-1/5 Plaza Complex,

Galle Road,

Colombo 06.

 

Tel: (00 94 11) 2 533 457-8; 2 580 689

Fax: (00 94 11) 2 598 691

 

Email : Shamrin@eurokitchens-lanka.com

 

No. of Employees

:

-Not Disclosed-

COMPANY DETAILS 

- Registration and Shareholder Details

 

a.

Registration No

:

PV 84459

b.

Date of Registration

:

23 February 2012

c.

Registered Office

:

# 239/2, Hill Street, Dehiwala.

d.

Board of Directors

As at

23rd February 2012

:

M.A. Mohamed Shamrin

Managing Director

M. Ahamed Azad

Director

e.

Issued  Share Capital

:

Rs. 10.00

f.

Nominal Value of Share

:

Rs. 10.00

g.

Share Holders

As at

23rd February 2012

:

Share Holders

No. of    Shares

M.A. Mohamed Shamrin

01

h

Auditors

:

Not Disclosed- Newly registered company

i

Company Secretaries

:

Zackiriya Fathima Zihara

j.

Bankers

:

-Not Disclosed-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DETAILS

- 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

 

 

Current investigation

 

·         History.

 

Company Logo

 

                   

 

                   The Subject Company EUROKITCHENS TRADING & CONTRACTING

              (PVT) LTD is a Private    Limited   liability Company incorporated on 23 February, 2012 

                   under registration No: PV 84459.

 

                   We were informed that Eurokitchens Trading & Contracting (Pvt.) Ltd, (EKTC) is 

                   incorporated in Sri Lanka as a member of Planning Office Postl Gmbh, Austria (POP) to 

                   possess business interests across the Middle East, Asia & Europe through a physical  

                   presence.

 

                   They are specialized in supply and installation of big size industrial kitchens, cooling cells,

                   Chill rooms, Air-conditioning, gastronomic equipment, etc.

                   Ketch’s mission is to provide a wide range of high-quality HOTEL, HOSPITALITY & 

                   KITCHEN equipment products and superior services conforming to agreed specification to 

                   their clients in diverse sectors and build sustainable relationships with all stake holders in 

                   order to both build an unique identity for EKTC in the market place and achieve corporate

                   goals and objectives.

 

 

·         Location.

 

                 The Subject Company is located at the client # # 33-1/5 Plaza Complex, Galle

                 Road, Colombo 06, a highly populated business area in Colombo.

 

·         Operational Details.

 

General

                  The subject company primary line of business is Importers and Suppliers of kitchen & pantry ware.

 

Products/Services

Interior Décor & refurbishments 

Supply & Installations Fridge, Freezer & Cooking Equipments, Supermarket Equipment,

Laundry, Hotel & Restaurant Equipments

Installation & Maintenance

 

Brands: Kolb, Blendtec, Lotus, Hobart, Astoria Lainox, Paderno Joly Ice, Convotherm etc.

Coming Soon...

 

 

 

Import Country

Italy, USA, Canada, European countires such as Germany.

 

No of Employees

                  -Not Disclosed-

 

·         Financial Data

 

The company has been incorporated in Feb. 2012 and 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 provide the following trade reference referrals:

-          SLIIT Campus Malabe

 

·         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.53.70

UK Pound

1

Rs.84.35

Euro

1

Rs.72.21

 

 

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%)

 

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.