MIRA INFORM REPORT

 

 

Report No. :

333668

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

PHOTON TECHNOLOGIES (PVT) LTD

 

 

Registered Office :

# 71A, Welikadawatta Road, Rajagiriya

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

26.03.2010

 

 

Com. Reg. No.:

PV 71696

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is supplier of the correct system solutions in Medical, Scientific and Agricultural sectors.

 

 

No. of Employee :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

:

PHOTON TECHNOLOGIES (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company – in operation

c.

Managing Director

 :

K. G. Asanka Nirmal

d.

Primary Line of Business

:

Supplier of the correct system solutions in Medical, Scientific and Agricultural sectors

e.

     Head office

           &

  Place of Business

:

 

# 71A, Welikadawatta Road,
Rajagiriya,

Sri Lanka

 

Tel. No: (00 94 11) 286 2359

Fax No: (00 94 71) 207 5124

 

E Mail: nirmal@photonlk.com

              sales@photonlk.com

              service@photonlk.com

 

f.

No. of  Employees

:

Approximately 10

           

 

COMPANY DETAILS

 

Registration and Shareholder Details

 

a.

Registration No

:

PV 71696

b.

Date of Registration

:

26th March 2010

c.

Registered Office

:

# 71A, Welikadawatta Road, Rajagiriya

d.

Board of Directors

As At

19th  November 2012

:

 K. G. Asanka Nirmal

Managing Director

R. M. Anura Shantha Bandara

Director

N. Dishna Kanthi Cooray

Director

e.

Issued Share Capital

:

Rs. 20.00             

Number of Shares

:

02

f.

Nominal Value of Share

:

Not Stated Vide Companies Act #7 of 2007

g.

Share Holders

As At

19th  November 2012

 

 

                       Share Holders

No. of Shares

 K. G. Asanka Nirmal

01

R. M. Anura Shantha Bandara

01

h.

Auditors

:

S & A  Samaraweera and Assocites

# 38/3/1, Pannipitiya Road, Battaramulla

i.

Company Secretaries

:

R. A. Shantha Kumara Undugoda

# 34/1/1, Lawyer’s Office, Office Compalex, Colombo 12

j.

Bankers

:

HSBC

 

 

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 is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

 

 

CURRENT INVESTIGATION

 

New Picture (2)

 

·         History.

                  The Subject Company PHOTON TECHNOLOGIES (PVT) LTD is a Private    Limited   liability Company incorporated on 26th March 2010 under registration number PV 71696.

 

·         Location.

The Subject Company is located at # 71A, Welikadawatta Road,
Rajagiriya and client given address # 3, 6th Lane, Nawala Road, Rajagiriya was company previous registered  address.

 

·         Operations Details.

 

General

 The subject company primary line of business is Supplier of the correct system solutions in Medical, Scientific and Agricultural sectors

 

Products

MEDICAL EQUIPMENT

o    Patient Monitors, Ventilators, Infusion Pump , Syringe Pump , Infant Incubators Diathermy, Ultra Sound Scanners / Colour Doppler , ECG , EEG , Defibrillators , Phototherapy Units, Pulse Oximeters , X-Ray / Digital X-ray / C-arm and Mobile X ray

                

                  LABORATORY EQUIPMENT

o    Flame photometers, Fully Automated Analyzer, Semi Automated Analyzer , ELISA Systems, Microscopes, Centrifuge, Thermo cyclers, Hematology Analyzer , Gene Sequences , Protein Analyzers, Microarrays , Ultra low Freezers , Bio Reactors , Electrolytes , Blood Gas Analyzers , General Lab equipment , Molecular Biological Reagent , Test Kits , PCR Kits , Consumables

 

 

AGRICULTURAL EQUIPMENT

o    CCD – Color sorters , Paddy cleaners , Whiteners , Polishers , Moisture Meters , Liquid Nitrogen Storage Equipment , Compressors , Air Dryers

 

Import Countries

UK, USA, Germany, India, Switzerland, France, China, Taiwan, Korea

 

Employees

                  Approximately 10

 

 

Directors Details

 

01)

Name

K. G. Asanka Nirmal

ID Number

790580885 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

27th February 1979

Age

36 Years

Address

# 261/A/28, Pelanwatta, Pannipitiya

 

 

02)

Name

R. M. Anura Shantha Bandara

ID Number

691573737 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

5th June 1969

Age

43 Years

Address

# 183/8, 4th Lane, Thalapathpitiya Road, Nugegoda

 

 

03)

Name

N. Dishna Kanthi Cooray

ID Number

648643640 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

29th December 1964

Age

50 Years

Address

# 425, Nawala, Rajagiriya

 

 

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 DENIED

 

Management Non co-operative (Tel. No.: 0094112862359)

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

 

 

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.