MIRA INFORM REPORT

 

 

Report Date :

01.03.2013

 

IDENTIFICATION DETAILS

 

Name :

MARKSS H L C (PVT) LTD

 

 

Registered Office :

# 153/3, Nawala Road, Narahenpita, Colombo 05

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

26.05.2006

 

 

Com. Reg. No.:

N (PVS) 46325

 

 

Legal Form :

Private Limited Liability Company (In operation)

 

 

Line of Business :

Import, distribute, market and deal in pharmaceuticals, nuracuticals and Equipments 

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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 LANAK - 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

     

a.

Name of Subject of Inquiry

:

MARKSS H L C (PVT) LTD

 b.

Legal Form  & Status

:

Private Limited Liability Company (In operation)

c.

Managing Director

:

Rajiv Shewal Hilary Nanayakkara

d.

Primary Line of Business

:

Import, distribute, market and deal in pharmaceuticals, nuracuticals and Equipments 

e.

Head Office

&

Place of Business

 

:

 

# 153/3, Nawala Road,

Narahenpita,

Colombo – 05.

        

Tel. No: (00 94 11) 236 8686 / 533 8539 / 433 4555

Fax No: (00 94 11) 533 8538

 

E-mail: info@markss.lk

 

f.

No. of Employees

:

Not Disclosed

 

 

COMPANY DETAILS

- Registration and Shareholder Details

 

Registration No

:

N (PVS) 46325

Date of Registration

:

26th May 2006

Re-registration No

:

PV 1037

Date of Re-registration

:

6th November 2007

Registered Office

:

# 153/3, Nawala Road, Narahenpita, Colombo 05, Sri Lanka.

Board Of Directors

As At

09th January 2013

:

Rajiv Shewal Hilary Nanayakkara

Managing Director

Fiona Theresa Mendis

Director

V.P. Ajith Deeptha

Director

Lasitha Vasundara De Zoysa

Director

D.J. Suresh Chrishanthus Weerasinghe

Director

D.M. Maithri Mahaushada Bandaranayake

Director

Rumesh Dushmantha Abeywickrema

Director

Issued Share Capital

:

Rs.           100,000.00

Nominal Value of Share

:

Rs.                    10.00

Share Holders

As At

09th January 2013

:

 Share Holders

No of Shears

Rajiv Shewal Hilary Nanayakkara

9,900

Fiona Theresa Mendis

100

Secretaries

:

Assignments (Pvt) ltd

Auditors

:

Haqquejim Associated

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 are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

CURRENT INVESTIGATION                      

 

                                                              

                                                            Company Logo

 

·         History.

 

The Subject Company MARKSS H L C (PVT) LTD is a Private    Limited   liability Company incorporated on 26th May 2006 under registration number N (PVS) 46325 and then the company was re-registered on 6th November 2007 under registration number PV 1037.

                  The subject company have one of the most effective distribution channels in the island having over 

                  27 distributions Deports established all over the country which includes northern and eastern 

                  Provinces.

 

·         Location.

 

The Subject Company is located at # 153/3, Nawala Road, Narahenpita, Colombo – 05.

.

·         Operations Details.

 

General

The subject company primary line of business is import, distribute, market and deal in pharmaceuticals, nuracuticals and Equipments. The Ministry of Health and State Pharmaceuticals Corporation are leading customers of the Subject Company.

 

Products

Pharmaceuticals, nuracuticals and Bio medical equipments

      

 

Services

          Drug Regulatory Affairs

          Product Promotions

          Product storage

          Distribution system

 

 

Country

India, Pakistan, Russia, EU, UK, SSA, China, Japan, Australia

 

Employees

                 Not Disclosed

 

 

·         Directors Details

 

01)

Name

Rajiv Shewal Hilary Nanayakkara

ID Number

662770302 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

3rd October 1966

Age

46 Years

 

 

02)

Name

Fiona Theresa Mendis

ID Number

677922940 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

18th October 1967

Age

45 Years

 

03)

Name

Rumesh Dushmantha Abeywickrema

ID Number

663280400 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

23rd November 1966

Age

46 Years

 

 

04)

Name

V.P. Ajith Deeptha

ID Number

703152635 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

10th November 1970

Age

42 Years

 

 

05)

Name

Lasitha Vasundara De Zoysa

ID Number

691631435 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

11th June 1969

Age

43 Years

 

 

 

 

 

 

 

06)

Name

D.J. Suresh Chrishanthus Weerasinghe

ID Number

622820277 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

08th October 1962

Age

50 Years

 

 

07)

Name

D.M. Maithri Mahaushada Bandaranayake

ID Number

700342190 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

03rd February 1970

Age

43 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 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.53.77

UK Pound

1

Rs.81.57

Euro

1

Rs.70.68

 

 

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.