MIRA INFORM REPORT

 

 

Report No. :

336747

Report Date :

22.08.2015

 

IDENTIFICATION DETAILS

 

Name :

CAP SNAP LANKA (PRIVATE) LIMITED

 

 

Registered Office :

# 281-1/6, R.A. De Mel Mawatha, Colombo 03

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

06.06.2003

 

 

Com. Reg. No.:

PV 3638

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Importers, Manufactures and Exports of all types of Packing Materials, Bottles, Containers and any Other Plastic Products.

 

 

No. of Employees :

140 (Approximately)

 

 

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 government's 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, but low tax revenues remain a 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

:

CAP SNAP LANKA (PRIVATE) LIMITED

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

c.

Managing director

 :

Fazal Mohamed Hussain Mohamed

d.

Primary Line of Business

:

Importers, Manufactures and Exports of All Types of

Packing Materials, Bottles, Containers and Any Other

Plastic Products.

e.

Place of Business & Head Office

:

# 281-1/6, R.A. De Mel Mawatha,

Colombo 03,

Sri Lanka.

 

Tel. No: (00 94 11) 452 2800

Fax No: (00 94 11) 452 2837

Mobile No.: 0773647799 (Mr. Rizwan) 

 

E Mail: capsnap@sltnet.lk

 

Ware House

 

:

# 31/4, Laneroll Mawatha,

Pahala Bomiriya,

Kaduwela.

 

Tel No: (00 944 11) 440 6574

 

 

Factory

:

Industrial Zone, Katuwana Road, Homagana

 

 

Branch

:

Hanwella, Shri Lanka

 

 

 

 

f.

No. of  Employees

:

140 (Approximately)

 

 

COMPANY DETAILS 

- Registration and Shareholder Details

 

a.

 

Registration No

:

N(PVS) 33968

Date of Registration

:

06th June 2003

b.

Re-registration No

 

PV 3638

Date of Re-registration

 

06th May 2008

c.

Registered Office

:

# 281-1/6, R.A. De Mel Mawatha, Colombo 03.

d.

Board of Directors

As At

15th August 2014

:

Mohamed Hussain Mohamed Fazal

Managing Director

Anura Kumarasinghe

Director

Asitha Kumarasinghe

 

Director

Mohamed Fayaz Mohamed Fazal

Director

Mohamed Farih Fazal

Director

K.W. Hugh Indrajith

Director

f.

Issued Share Capital

:

Rs.          11,522,840.00

g.

No. of Shares

:

1,152,284

h.

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007

i.

Share Holders

As At

15th August 2014

:

 

                       Share Holders

No. of Shares

Anura Kumarasinghe

499,323

Mohamed Hussain Mohamed Fazal

652,961

j.

Auditors

:

ACM Ifhaam & Company Chartered Accounts

(#11, Station Road, Colombo 04) 

k.

Company Secretaries

:

Ahmed Firaze Sameer

(#05, Cannel Lane, Colombo 06)

l.

Bankers

:

Commercial Bank, Peoples Bank

Hatton National Bank, Colombo

Hatton National Bank, Pettah

m.

Exports

:

Products - Finished Good

Country - India, Maldives

 

n.

Imports

:

Products - Machinery, Raw Materials

Country – Germany, China, India

o.

Trading Terms

:

Purchasing – Cash/ L/C/ Credit

Sales – Cash/ L/C/ Credit

p.

Customers

:

Wholesalers, Retailers and Manufacturer

 

 

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

 

·         History.

The Subject Company CAP SNAP LANKA (PVT) LTD is a Private Limited   liability Company incorporated in 06th June 2003 under the registration number N (PVS) 33968 and then the company was re-registered on 06th May 2008 under the registration number PV 3638.

 

And this Company is one of the subsidiary Company of AMERICAN PREMIUM WATER SYSYTEM (PVT) LTD. This is the leading Mineral water supplying Company in Sri Lanka.

 

·         Location.

The subject company is located at client # 281-1/6, R.A. De Mel Mawatha, Colombo 03.

 

·         Operations Details.

 

General

The subject company primary line of business is Importers, Manufactures and Exports of all types of packing Materials, bottles, containers and any other plastic products

 

Products

Packing Materials, bottles, containers and any other plastic products

 

Country

                  Mexico, Guadeloupe, Spain, Italy, Australia, USA, Pakistan, New Caledonia 

 

Employees

                  140 (Approximately)

 

·         Financial Data

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

 

·         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 BY (Genral details)

 

Name :

Mr. Rizwan

Designation :

Annual General Manager (Finance)

Contact No.:

0773264466

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.83

UK Pound

1

Rs.103.39

Euro

1

Rs.74.27

 

 

 

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NIT

 

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.