|
Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SKYPHARMA (PVT) LTD |
|
|
|
|
Registered Office : |
# 35, 1/1 , Hinniappuhami Mawatha, Colombo 13 |
|
|
|
|
Country : |
Sri Lanka. |
|
|
|
|
Date of Incorporation : |
27.04.2007 |
|
|
|
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Com. Reg. No.: |
N (PVS) 50444 |
|
|
|
|
Legal Form : |
Private Limited Liability Company (In Operation) |
|
|
|
|
Line of Business : |
Importer of pharmaceutical products, surgical products, herbal 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 |
|
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 – 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
|
a. |
Name of Subject of Inquiry |
: |
SKYPHARMA (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
c. |
Managing
Director |
: |
J.M. Tharanga Sanjeewa |
|
d. |
Primary Line of Business |
: |
Importer of pharmaceutical products, surgical products, herbal
products |
|
e. |
Head office & Place of
Business |
: |
# 35,
1/1 , Hinniappuhami Mawatha, Colombo
13, Sri
Lanka. Tel.
No: (00 94 11) 233 4193 Fax
No: (00 94 11) 233 7045 |
|
f. |
No. of Employees |
: |
Not
Disclosed |
|
a. |
Registration No |
: |
N (PVS) 50444 |
||
|
Date of Registration |
: |
27th April 2007 |
|||
|
b. |
Re-registration No |
|
PV 14630 |
||
|
Date of Re-registration |
|
16th July 2009 |
|||
|
c. |
Registered Office |
: |
#
35/1/1, Hinniappuhamy Mawatha, Colombo- 13. |
||
|
d. |
Board of Directors As At 01st March 2012 |
: |
J.M. Tharanga Sanjeewa |
Managing Director |
|
|
Sundaralingam Sarawanachelwan |
Director |
||||
|
A.P. Durgarani Ganeshan |
Director |
||||
|
e. |
Issued Share Capital |
: |
Rs.
100.00 |
||
|
f. |
Nominal Value of Share |
: |
Rs.
10.00 |
||
|
g. |
Share Holders As At 01st March 2012 |
: |
Share Holders |
No. of Shares |
|
|
Ravindran Selvaraj |
06 |
||||
|
Muthuramar Sasikumaran |
02 |
||||
|
Selladoray Ananth Vigneswaran |
02 |
||||
|
h. |
Auditors |
: |
Abeyratne &
Company |
||
|
i. |
Company Secretaries |
: |
Es Management (Pvt) Ltd |
||
|
j. |
Bankers |
: |
-Not Disclosed- |
||
·
Director’s
Details.
01)
|
Name |
J.M. Tharanga Sanjeewa |
|
Nationality |
Sri Lanka |
|
ID Number |
763542645 V |
|
Gender |
Male |
|
Date of Birth |
19th December 1976 |
|
Age |
37 Years |
02)
|
Name |
Sundaralingam Sarawanachelwan |
|
Nationality |
Sri Lanka |
|
ID Number |
753291300 V |
|
Gender |
Male |
|
Date of Birth |
24th November 1975 |
|
Age |
38 Years |
03)
|
Name |
A.P. Durgarani Ganeshan |
|
Nationality |
Sri Lanka |
|
ID Number |
578273077 V |
|
Gender |
Female |
|
Date of Birth |
22nd
November 1975 |
|
Age |
56 Years |
- 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 SKYPHARMA (PVT) LTD is a Private
Limited liability Company
Incorporated on 27th April 2007 under registration number N (PVS)
50444 and then company was
Re-registered on 16th July
2009 under registration number PV 14630
·
Location.
The Subject
Company is located at the client. #
35/1/1, Hinniappuhamy
Mawatha, Colombo 13.
·
Operational
Details.
General
The subject company primary line of
business is Importer of pharmaceutical products, surgical
Products, herbal products
Products
Surgical and herbal
products
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
The subject company
did not provide any trade reference referrals
·
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.61.04 |
|
|
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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.