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Report No. : |
336746 |
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Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
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Name : |
LANKA POLYBAGS INTERNATIONAL (PVT) LTD |
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|
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Registered Office : |
Industrial Estate, Pallekele, Kundasale |
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Country : |
Sri Lanka
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Date of Incorporation : |
21.04.2005 |
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Com. Reg. No.: |
PV 3259 |
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|
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Legal Form : |
Private Limited Liability Company [In Operation] |
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Line of Business : |
Manufacture & Distribution of Polybags and Pet Bottles. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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 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 |
|
a. |
Name of Subject
of Inquiry |
: |
LANKA POLYBAGS
INTERNATIONAL (PVT) LTD |
|
b. |
Legal Form
& Status |
: |
Private Limited Liability Company (In
Operation) |
|
c. |
Managing Director |
: |
A.A. Jayathilaka |
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d. |
Primary Line of
Business |
: |
Manufacture
& Distribution of Polybags and Pet Bottles. |
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e. |
Head Office & Business Place. |
: |
Industrial Estate, Pallekele, Kundasale, Sri Lanka. Tel: (00 94 81) 242 3388 Fax: (00 94 81) 242 3388 Email: polypvt@gmail.com |
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f. |
No.
of Employees |
: |
Approximately 20 |
|
a. |
Registration No |
: |
N (PVS) 41380 |
||
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b. |
Date of Registration |
: |
21st April 2005 |
||
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c. |
Re-Registration No |
: |
PV 3259 |
||
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d. |
Date of Re-Registration |
: |
15th April 2008 |
||
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e. |
Registered Office |
: |
Industrial Estate, Pallakele, Kundasale. |
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f. |
Board of Directors As at 14th October 2014 |
: |
A.A. Jayathilaka |
Managing Director |
|
|
Nileem Sanjeewani Samarasinghe (Ms) |
Director |
||||
|
A.A. Poornima Sajeewani Amarasinghe (Ms) |
Director |
||||
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g. |
Issued
Share Capital |
: |
Rs. 1,000,000.00 |
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h. |
No. of Shares |
: |
100,000 |
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i. |
Nominal Value of Share |
: |
Not applicable vide Companies Act #7 of
2007 |
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j. |
Share Holders As at 14th October 2014 |
: |
Share Holders |
No. of
Shares |
|
|
A.A. Jayathilaka |
100,000 |
||||
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k. |
Auditors |
: |
Drydand and Smith (#16, Galborella Cross Road, Waragoda, Kelaniya) |
||
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l. |
Company Secretaries |
: |
Janaka Chandima Wijetunge (#430, Ground Floor, Lawyers Office,
Complex, William Gopallawa Mawatha, Kandy) |
||
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m. |
Bankers |
: |
Peoples Bank, Menikhinna, Sri Lanka |
||
The
Company Has Declined To Provide Information on Its Finances
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 detailed financials
are available for this entity
·
History.
The Subject Company is LANKA POLYBAGS
INTERNATIONAL (PVT) LTD is a
Private Limited Liability Company incorporated on 21st April 2005 under
registration number N (PVS)
41380 and then the company was re-registered on 15th April
2008 under registration number PV
3259.
·
Location.
The Subject
Company is located at the client Industrial Estate, Pallakele, Kundasale, an area in
the Central Province, approx.150 kilo meters from Colombo and 20 kilo meters
from Kandy.
·
Operational
Details.
General
The subject company primary
line of business is Manufacture &
Distributors of Polybags.
Products/Services
Polybags
Importing
Countries
Not Disclosed.
No of Employees
Approximately 03.
·
Trade references
Not Disclosed
·
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 computerized 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 : |
Mr. Dinesh Ekanayaka |
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Designation : |
Accounts Manager |
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Contact No.: |
0009481-2423388 |
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Date : |
20.08.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.83 |
|
|
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
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Information
Gathered by : |
NYA |
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|
|
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Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
-- |
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.