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Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
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Name : |
OREL MANUFACTURING (PVT) LTD |
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Formerly Known as: |
OREL ELECTRONICS (PVT) LTD |
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Registered Office : |
# 49, Sri Jinaratana Road, Colombo 02 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
30.04.2010 |
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Com. Reg. No.: |
PV 72125 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufactures, Exporters & Distributors of Electronic Components and Electrical Accessories |
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No. of Employees : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Unknown |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Sri Lanka |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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.
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Source : CIA |
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Name of Subject of Inquiry |
: |
OREL
MANUFACTURING (PVT) LTD |
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Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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Managing
Director |
: |
Kushan Samantha
Kodituwakku |
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Primary Line of Business |
: |
Manufactures, Exporters & Distributors of
Electronic Components and Electrical Accessories. |
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Place of Business |
: |
# 34, Old Road,Nawinna, Maharagama, Sri Lanka. Tel. No: (00 94 11) 479 2166 / 4792 278 Fax No: (00 94 11) 479
2199 Email: sales@orelpower.com |
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No. of
Employees |
: |
Not
Disclosed |
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Registration No |
: |
PV 72125 |
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Date of Registration |
: |
30th April 2010 |
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Registered Office |
: |
# 49, Sri Jinaratana Road, Colombo 02, Sri Lanka. |
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Board of Directors As At 29th April 2010 |
: |
K. Samantha Kodituwakku |
Managing Director |
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T. Ranjani Kodituwakku |
Director |
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R. Savanthi Kodituwakku |
Director |
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Issued Share Capital |
: |
Rs. 10.00 |
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Nominal Value of Share |
: |
Rs. 10.00 |
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Share Holders As At 29th April 2010 |
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Share
Holders |
No. of Shares |
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Orel MFG (Pvt) Ltd |
01 |
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Auditors |
: |
Not Applicable |
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Company Secretaries |
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SPA Corporate Services (Pvt) Ltd |
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Bankers |
: |
Commercial Bank PLC People’s Bank Sampath Bank PLC Hatton National Bank PLC |
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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 OREL MANUFACTURING (PVT) LTD is a Private Limited
Liability Company incorporated on 30th
April 2010 under registration number
PV 72125.
The Subject Company initially registered as OREL ELECTRONICS (PVT) LTD and then the
name of the Subject Company changed to OREL
MANUFACTURING (PVT) LTD on 23rd May 2011
·
Location.
The Subject
Company head office is located at # 34, Old Road, Nawinna, Maharagama.
·
Operations
Details.
General
The subject
company primary line of business is Manufactures,
Exporters & Distributors of Electronic Components and Electrical
Accessories.
Products
Switches &
Sockets, MCB, CFL, Bricks
Export Country
India, China, Malaysia,
Bangladesh, Australia, Singapore, Hong Kong, Pakistan
No of Employees
Not Disclosed
·
Directors Details
01)
|
Name |
K. Samantha
Kodituwakku |
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ID Number |
721101355V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date Of Birth |
19th April 1972 |
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Age |
40 Years |
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Address |
#.67, Barnes Place, Colombo-07 |
02)
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Name |
T. Ranjani
Kodituwakku |
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ID Number |
516511451V |
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Nationality |
Sri Lankan |
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Gender |
Female |
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Date Of Birth |
30th May 1951 |
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Age |
61 Years |
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Address |
#.67, Barnes Place, Colombo-07 |
03)
|
Name |
R. Savanthi
Kodituwakku |
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ID Number |
765750024V |
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Nationality |
Sri Lankan |
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Gender |
Female |
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Date Of Birth |
15th March 1976 |
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Age |
37 Years |
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Address |
#.67, Barnes Place, Colombo-07 |
·
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
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UK Pound |
1 |
Rs.81.57 |
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Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.