MIRA INFORM REPORT

 

 

Report Date :

25.11.2014

 

IDENTIFICATION DETAILS

 

Name :

BIO TECH PHARMA (PVT) LTD

 

 

Registered Office :

# 30 -6 / 2, Station Road Mount Lavinia

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

09.08.2007

 

 

Com. Reg. No.:

PV 60966

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Import & Distributors of Pharmaceuticals

 

 

No. of Employees :

10

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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. 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, but strong remittances from Sri Lankan workers abroad help offset the trade deficit. Government debt of about 80% of GDP remains among the highest in emerging markets

 

Source : CIA

 

 

 

 

Company name and address

 

a.

Name of Subject of Inquiry

:

 

BIO TECH PHARMA (PVT) LTD

 

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

c.

Managing Director

:

Don Tudor Edward Wijesinghe

d.

Primary Line of Business

:

Import & Distributors of Pharmaceuticals

e.

Head office

 

 

:

 

# 85 A 1/1, Templers Road,

Mount Lavinia,

Sri Lanka.

 

Tel. No: (00 94 11) 272 7710

Fax No: (00 94 11) 272 7710

 

Stores

:

 

# 20/3, Menerigama Place,

Mount Lavinia.

 

f.

No. of Employees

:

Approx. 10

                       

 

COMPANY DETAILS 

 

Registration and Shareholder Details

 

a.

Registration No

:

PV 60966

Date of Registration

 

09th August 2007

c.

Registered Office

:

# 30 -6 / 2, Station Road Mount Lavinia .

d.

 

Board of Directors

As at

31st December 2013

:

Don Tudor Edward Wijesinghe

Managing Director

W. L. Kamani Champika De Alwis (Ms)

Director

e.

Issued Share Capital

:

Rs. 2,000.00

Number of Shares

:

200

f.

Nominal Value of Share

 

Not applicable vide Companies Act #7 of 2007            

g.

 

Share Holders

As at

31st December 2013

 

:

Share Holders

No. of

Shares

Don Tudor Edward Wijesinghe

100

W. Liyanage Kamani Champika De Alwis (Ms)

100

h.

Auditors

:

Abeysinghe & Company

i.

Company Secretaries

:

Prompt Management Services (Pvt)  Ltd

k.

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

 

History

 

The Subject Company BIO TECH PHARMA (PVT) LTD is a Private    Limited   liability Company incorporated on 09th August 2007 under registration number PV 60966.

                 

Location.

 

The Subject Company is located at # 85 A 1/1, Templers Road, Mount Lavinia and client  

# 133, Waidya Road, Dehiwela was company previous business place

 

Operational Details.

 

General

 

The subject company primary line of business is Import & Distributors of Pharmaceuticals

 

Products

Pharmaceuticals

 

Country

India

 

Employees

Approx. 10

 

 

Directors Details

 

         01)

Name

Don Tudor Edward Wijesinghe

ID Number

683471267 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

12th December 1968

Age

46 Years

Address

133, Vaidya Road Dehiwala.

 

         02)

Name

W. Liyanage Kamani Champika De Alwis

ID Number

687470664 V

Nationality

Sri Lankan

Gender

Female

Date Of Birth

03rd September 1968

Age

46  Years

Address

133, Vaidya Road Dehiwala.

 

 

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.

 

 

 

Information denied by

 

NAME

MR. DON TUDOR

DESIGNATION

DIRECTOR

CONTACT NO.:

0009411-2727710

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.96.78

Euro

1

Rs.76.59

 

INFORMATION DETAILS

 

Information gathered by :

HTL

 

 

Analysis Done by :

RAS

 

 

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.