MIRA INFORM REPORT

 

 

Report Date :

27.01.2014

 

IDENTIFICATION DETAILS

 

Name :

HENRY’S PHARMACEUTICALS (PVT) LIMITED

 

 

Registered Office :

# 201,Sri Sangaraja Mawatha, Colombo 10,

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

30.09.1998

 

 

Com. Reg. No.:

N(PVS) 22168

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Import and Distributors of Pharmaceutical 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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

 

 

 

 

 

GENERAL information

           

Basic information at a glance

     

a.

Name of Subject of Inquiry

:

 HENRY’S PHARMACEUTICALS (PVT) LIMITED

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

c.

Chairman

:

 Kumar Anton Rohita Bulathwela

d.

Primary Line of Business

:

Import And Distributors of Pharmaceutical Products.

e.

Place of Business

:

 

# 201,Sri Sangaraja Mawatha,

Colombo 10,

Sri Lanka

 

Tel. No: (00 94 11) 233 7471

Fax No: (00 94 11) 

 

E Mail: info@henryspharama.net

              Salea@henryspharma.com

 

 

 

                       

 

COMPANY DETAILS 

 

Registration and Shareholder Details

 

a.

 

Registration No

:

N(PVS) 22168

Date of Registration

:

30th  September 1998

b.

Re-registration No

 

PV 16751

Date of Re-registration

 

09th November  2009

c.

Registered Office

:

# 201, Sri Sangaraja Mawatha, Colombo-10.

d.

     Board of Directors

              As at

     31th   December 2012

 

K.A.Rohita Bulathwela

Managing Director

H.S.Priyantha Bulathwela

Director

A.C.Janaka Gunawardena

Director

A.M.Swarna Peris ( Alternate to K.A.Rohita Bulathwela)

Director

e.

Issued Share Capital

:

Rs.     10,510,050.00

f.

Nominal Value of Share

:

Rs.                   10.00

 

 

  Registration and Shareholder Details

 

 

g.

Share Holders

As at

31th December 2012

:

Share Holders

No. of Shares

C.A.Wijeyeweere

1,000,000

S.K.Bridget Mary Fernando

50,661

H.S.Priyantha Bulawela

201

A.C.Janaka Gunawardena

11

S. Danesh Ranjith

11

S.J. Nihal Rienzie Fernando

21

C. Gunasekara

100

h.

Secretaries

:

H.P.N.Secretarial Services (PVT) LTD

i.

Auditors

:

P.Wijayawardana and Company

j.

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS

 

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

 

 

CURRENT INVESTIGATION                      

 

History.

 

The Subject Company HENRY`S PHARMACEUTICALS (PVT) LTD is a Private Limited   liability Company incorporated in 30th  August 1998   under registration number N(PVS) 22168 and the company was re-registered on 09th  Octomber 2009sunder registration number PV 16751 in terms of Companies Act #7 of 2007.

 

The subject company initially known as a “GAULA INTERNATIONAL(PVT) LTD” and the name has been changed on 12st January 2010 to the present new name “HENRY`S PHARMACEUTICALS (PVT) LTD.”

Location.

 

The subject company is located at client # 201, Sri Sangaraja Mawatha, Colombo-10, Sri Lanka.

 

 

Operational Details.

 

General

The subject company’s primary line of business is Import and Distributors of Pharmaceutical Products.

 

Products

Drugs and Pharmaceutical Products

 

Import Country

Pakistan, India, Thailand

 

 

Directors Details

 

             01)

Name

K.A. Rohita Bulathwela

ID Number

591053515V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

14th  March 1959

Age

54 Years

                                             

 

             02)

Name

H.S.Priyantha Bulathwela

ID Number

572721078V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

28th  September 1957

Age

 

56 Years

 

            03)

Name

A.C. Janaka Gunawardena

ID Number

61033231V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

02th  February 1961

Age

52 Years

 

 

             04)

Name

A.M.Swarna Peirs

ID Number

515572759V

Nationality

Sri Lankan

Gender

Female

Date Of Birth

26th  February 1951

Age

62 Years

 

 

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

 

Cosmetic Devices & Drugs Regulatory Authority

 

 

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.62.18

UK Pound

1

Rs.103.38

Euro

1

Rs.85.09

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.