MIRA INFORM REPORT

 

 

Report Date :

03.09.2014              

 

IDENTIFICATION DETAILS

 

Name :

CEYOKA (PVT) LTD

 

 

Registered Office :

# 55, Negombo Rd, Peliyagoda

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

22.01.2010

 

 

Com. Reg. No.:

PV 70812

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and sale of industrial machinery, hardware items, medical equipments

 

 

No. of Employees :

30

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

       

Name of Subject of Inquiry

:

CEYOKA (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company (in operation)

 

Managing Director

 

 :

Ugitha Harshith  Dharmadasa

Primary Line of Business

:

Import and sale of industrial machinery, hardware items, medical equipments

Place of Business

         &

     Factory

:

 

# 55, Negombo Road,

Peliyagoda,

Sri Lanka

 

Tel. No: (00 94 11) 298 9999

Fax No: (00 94 11) 291 3910

 

E Mail: pharma@ceyoka.com

 

No. of  Employees

:

Approximately 30

           

 

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

PV 70812

Date of Registration

:

22nd  January 2010

Registered Office

:

# 55, Negombo Rd, Peliyagoda, Sri Lanka

Board of Directors

As At

14th October 2012

:

Ugitha Harshith  Dharmadasa

Managing Director

Chamitha Sreeni Dharmadasa

Director

Anisha Givantha Dharmadasa

Director

Treecy Diyan Lowe

Director

Issued Share Capital

:

Rs.  25,000,000.00  

 

Number of Shares

:

2,500,000

 

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007

 

Share Holders

As At

14th October 2012

 

 

                       Share Holders

No. of Shares

 

Anisha Givantha Dharmadasa

1,250,000

 

Chamitha Sreeni Dharmadasa

01

 

Ugitha Harshith  Dharmadasa

1,249,999

 

Auditors

:

Abeyrathne & Company

 

Company Secretaries

:

Consultants & Corporate Secretaries (Pvt) Ltd

 

Bankers

:

Bank of Ceylon, Hatton National Bank, Peoples Bank

 

 

3) FINANCIAL DETAILS - Most recent available Financial Information

     

   Subject declined to disclose details without knowing the end user of the enquiry.

 

    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

 

4) CURRENT INVESTIGATION

 

                                                             

 

·         History.

 

                  The Subject Company CEYOKA (PVT) LTD is a Private    Limited   liability Company incorporated on 22nd January 2010 under registration number PV 70812.

 

·         Location.

 

The Subject Company is located at the client # 55, Negombo Rd, Peliyagoda, Sri Lanka

 

·         Operations Details.

 

General

The subject company primary line of business is Import and sale of industrial machinery, hardware items, medical equipments

 

Products

Industrial machinery, Construction Equipment, Generators and Electrical equipment, Hardware items, Medical Equipments

 

Import Countries

India, UK, Italy, USA China, Taiwan, Pakistan, Germany

 

·         Subsidiary companies of Nawaloka Group

o        Nawakrama (Pvt) Ltd

o        Nawaloka Trading Co., Ltd

o        Koala Steel Fabrications

o        Nawatex (Private) Limited

o        Koala (Pvt) Ltd

o        Nawaloka Holdings (Pvt) Ltd

o        Nawaloka Hospitals PLC

o        Nawaloka Metropolis Clinical Laboratories (Pvt) Ltd

o        Nawaloka Medical Centres Ltd

o        Nawaloka Aviation (Pvt) Ltd

o        Nawaloka Construction Company (Pvt) Ltd

o        Nawaloka ABC Petroleum (Pvt) Ltd

o        Ashford International (Pvt) Ltd

o        Concord Ventures Exports Lanka (Pvt) Ltd

o        Sahas Wear (Pvt) Ltd

The Group’s business areas include construction, packaging, and also owns the largest     private                         hospital namely “Nawaloka Hospital”, Colombo. The subject company functions as its medical supply arm.

Employees

                 Approximately 30

 

 

Director’s Details

 

Name

Chamitha Sreeni Dharmadasa

ID Number

545520016 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

21st February 1954

Age

60 Years

 

Name

Ugitha Harshith  Dharmadasa

ID Number

741191415 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

28th April 1974

Age

40 Years

 

 

 

 

 

 

Name

Anisha Givantha Dharmadasa

ID Number

771671446 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

15th June 1977

Age

37 Years

 

Name

Treecy Diyan Lowe

ID Number

816793203 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

27th June 1981

Age

33 Years

 

·         Financial Data

                  The company has declined to provide information on its finance.

 

                  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.

 

Information parted

 

Name:               Mr. Sisira

Designation:      Finance Executive

Tel No:              (009411) 2989999

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.61

UK Pound

1

Rs.100.48

Euro

1

Rs.79.56

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

Calling by :

JML

Report Prepared by :

PDT

 

               

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.