MIRA INFORM REPORT
|
Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
C C S LANKA (PVT)
LTD |
|
|
|
|
Registered Office : |
Baseline Road,
Daluwakotuwa, Kochchikade |
|
|
|
|
Country : |
Sri Lanka |
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|
|
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Date of Incorporation : |
02.09.1988 |
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|
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Com. Reg. No.: |
N (PVS) 4829 |
|
|
|
|
Legal Form : |
Private Limited Liability Company (In Operation) |
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|
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Line of Business : |
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|
|
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No of Employees : |
920 |
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 |
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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 |
GENERAL
Basic information
at a glance
|
a. |
Name of Subject of Inquiry |
: |
C C S LANKA (PVT)
LTD |
|
b. |
Legal Form &
Status |
: |
Private Limited
Liability Company (In Operation) |
|
c. |
Managing Director |
: |
R. Roland Zryd (Swiss) |
|
d. |
Primary Line of Business |
: |
Electronic,
Engineering & Manufacturing Services |
|
e. |
Place of Business |
: |
Base Line Road, Kochchikade, Daluwakotuwa, Sri Lanka Tel. No: (00 94 31) 487 1500 Fax
No: (00 94 31) 487 0933 Email: info@ccslanka.lk
|
|
f. |
No. of Employees |
: |
Approximately 920 |
COMPANY
DETAILS
Registration and Shareholder Details
|
a. |
Registration No |
: |
N (PVS) 4829 |
|
|
Date of Registration |
: |
02nd September 1988 |
||
|
b. |
Re-registration No |
: |
PV 4289 |
|
|
Date of Re-registration |
|
16th January 2009 |
||
|
c. |
Registered Office/ Factory |
: |
Baseline Road, Daluwakotuwa, Kochchikade,
Sri Lanka |
|
|
|
Board of Directors As at 23rd April 2014 |
|
R. Roland Zryd (Swiss) |
Managing
Director |
|
L. Upali Hiniduma |
Director |
|||
|
Kaiser Thomas (Swiss) |
Director |
|||
|
Daniel Lippuner (Swiss) |
Director |
|||
|
Schmitt Ulrich Peter (Swiss) |
Director |
|||
|
e. |
Issued Share Capital |
: |
Rs. 100,000,000.00 |
|
|
Number of Shares |
: |
1,000,000 |
||
|
f. |
Nominal Value of Share |
: |
Not applicable
vide Companies Act #7 of 2007 |
|
Registration and Shareholder Details
|
g. |
Share Holders As At 23rd April 2014 |
|
Share Holders |
No. of Shares |
|
C C S International Ltd (Incorporated in
Switzerland) |
1,000,000 |
|||
|
h. |
Auditors |
: |
KPMG Chartered
Accountants |
|
|
i. |
Company Secretaries |
: |
S S P Corporate
Services (Pvt) Ltd |
|
|
k. |
Bankers |
: |
HSBC |
|
·
Directors Details
01)
|
Name |
L. Upali Hiniduma |
|
ID Number |
611394870 X |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of birth |
18th May 1961 |
|
Age |
53 Years |
02)
|
Name |
Thomes Kaiser |
|
PP Number |
F 0649527 |
|
Nationality |
Switzerland |
03)
|
Name |
R. Roland Zryd |
|
PP Number |
F 0926217 |
|
Nationality |
Switzerland |
04)
|
Name |
Daniel Lippuner |
|
PP Number |
F 2366587 |
|
Nationality |
Switzerland |
05)
|
Name |
Schmitt Ulrich Peter |
|
PP Number |
F 2034159 |
|
Nationality |
Switzerland |
FINANCIAL
DETAILS
Most recent available Financial Information
(Note:
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
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·
History.
The Subject Company C C S
LANKA (PVT) LTD is a Private Limited
Liability Company incorporated on 02nd September 1988 under registration
number N (PVS) 4829 and then the company was re-registered on 16th
January 2009 under registration number PV 4289 in terms of Companies Act
#7 of 2007.
The subject company was
originally incorporated as ELSUMA (PVT) LTD on 02nd
September 1988 and then changed as C C S ELSUMA (PVT) LTD on
03rd March 2005 and it was again changed to C C S LANKA (PVT)
LTD on 20th February 2009. Therefore present name of the Subject
Company is C C S LANKA (PVT) LTD.
CCS Lanka (Pvt.) Ltd (BOI approved)
Swiss EMS manufacturing electronic
company in Sri Lanka and a subsidiary of CCS Switzerland (Head Office in
Switzerland) which is having operations in Hong Kong, China, Germany.
It is a BOI
approved company.
·
Location.
The Subject
Company is located at the client Base
Line Road, Kochchikade, Daluwakotuwa,
Sri Lanka
·
Operational
Details.
General
The subject company’s primary
line of business is Electronic & Engineering & Manufacturing
Services including coiled goods and cable assemblies,
The subject company has
earned ISO 9001:2008, ISO 14001:2004
Services
Electronic &
Engineering & Manufacturing Services including coiled goods and cable
assemblies, a new concept which defines the foundations of their core
competence. It is stated their services today encompass a
European-Asian-orientated service package in the area of electronic and mechatronic
applications.
The production
area is approx.20,000 sq.meters with three business centre for SMD/THT
assemblies & ODM, Coiled Goods and cable assemblies.
2 SMD production
lines Assemble on (capacity of 300‘000 p/h)
Marconi Test
Equipments
In circuit/Function/Burn-in
No of Employees
Approximately 920
·
Trade references
Board of Investment of Sri Lanka
·
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Samadi |
|
Designation : |
Accounts Department |
|
Contact No.: |
00094314871500 |
|
Date : |
27.09.2014 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
|
|
Report Prepared
by : |
SMN |
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|
|
|
Information
Gathered by |
GYA |
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.