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Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
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Name : |
PENGUIN SHIPPING ENTERPRISES (PVT) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.02.1993 |
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Com. Reg. No.: |
PV 8156 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in shipping services, ship agency |
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No. of Employees : |
25 |
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 : |
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 |
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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 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 |
|
a. |
Name of Subject of Inquiry |
: |
PENGUIN SHIPPING ENTERPRISES (PVT) LTD |
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b. |
Legal Form &
Status |
: |
Private Limited
Liability Company (In Operation) |
|
c. |
Managing Director |
: |
Devika Illini
Wijesuriya |
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d. |
Primary Line of Business |
: |
Subject is engaged
in Shipping Services, ship agency |
|
e. |
Head Office & Place of Business |
: |
# 48/1, Ward Place,
Colombo 7, Sri Lanka. Tel. No: (00 94 11)
269 9474 / 472 2113 / 472 2115 / 4722113 Fax No: (00 94 11) 269 6604 / 472 2116 E-mail: info@penguin.lk Website : http://www.penguin.lk |
|
f. |
No. of Employees |
: |
25 |
Registration and Shareholder Details
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a. |
Registration No |
: |
N (PVS) 10555 |
|||
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Date of
Registration |
: |
11th
February 1993 |
||||
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b. |
Re-registration No |
: |
PV 8156 |
|||
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Date of
Re-registration |
: |
16th October 2008 |
||||
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c. |
Registered Office |
: |
# 48/1, Ward Place, Colombo 07 |
|||
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d. |
Board of Directors As At 05th
June 2014 |
: |
Devika Illini
Wijesuriya |
Managing Director |
||
|
Sella Muttu Wignarajah |
Director |
|||||
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Dulip Mahen Wijesuriya |
Director |
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Deepika Gayani Wijesuriya |
Director |
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Issued
Share Capital |
: |
Rs. 250,020.00 |
||||
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No. Of
Shares |
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25,002 |
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f. |
Nominal
Value of Share |
: |
Not
applicable vide Companies Act #7 of 2007. |
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g. |
Share
Holders As at 05th
June 2014 |
|
Share Holders |
No. of Shares |
||
|
Devika
Illini Wijesuriya |
2,500 |
|||||
|
Sella Muttu Wignarajah |
01 |
|||||
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Singhe Weerasekara |
01 |
|||||
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h. |
Auditors |
: |
N K Mendis & Company |
|||
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i. |
Company
Secretaries |
: |
Corporate
Advisory Services (Pvt) Ltd |
|||
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j. |
Bankers |
: |
Commercial
bank of Ceylon |
|||
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Sister
Concern |
: |
Pengiun
food products |
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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)
History.
The
Subject Company PENGUIN SHIPPING
ENTERPRISES (PVT) LTD is a Private
Limited liability Company
incorporated on 11th February
1993 under registration number N
(PVS) 10555 and the company was re-registered 16th October 2008 under registration number PV 8156.
Location.
The Subject Company is located at the client # 48/1, Ward Place,
General
The subject company primary line of business is engaged in Shipping Services, ship agency
Services
Agency Services
Ship Chandling
Crew Recruitment
Ship Surveyors
Country
Worldwide
No of Employees
25
01)
|
Name |
Devika Illini
Wijesuriya |
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ID Number |
426750341 V |
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Nationality |
Sri Lankan |
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Gender |
Female |
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Date of Birth |
23rd
June 1942 |
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Age |
72 Years |
02)
|
Name |
Sella Muttu Wignarajah |
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ID Number |
401292586 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
08th May 1940 |
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Age |
74 Years |
03)
|
Name |
Dulip Mahen Wijesuriya |
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ID Number |
743232399 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
18th November 1974 |
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Age |
39 Years |
04)
|
Name |
Deepika Gayani Wijesuriya |
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ID Number |
807114344 V |
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Nationality |
Sri Lankan |
|
Gender |
Female |
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Date of Birth |
29th July 1980 |
|
Age |
34 Years |
Ceylon Association
of Ship Agents
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.
|
NAME |
MRS. DEVIKA
WIJESURIYA |
|
DESIGNATION |
Director |
|
CONTACT NO |
0009411-2699474 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Information
Gathered by |
HTL |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.