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Report No. : |
351251 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
L N PAPER CONVERTERS (PRIVATE) LIMITED |
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Registered Office : |
#18, Nawala Road, Nugegoda |
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Country : |
Sri Lanka |
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Date of Incorporation : |
12.08.2011 |
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Com. Reg. No.: |
PV 80431 |
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Legal Form : |
Private Limited Liability Company (In Operation) |
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Line of Business : |
Manufacturing and Distribution of Corrugated Cartoons. |
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No. of Employee : |
Not Available |
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 – 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 |
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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 |
- Basic information at a glance
|
a. |
Name of Subject of Inquiry |
: |
L N PAPER
CONVERTERS (PRIVATE) LIMITED |
|
b. |
Legal Form & Status |
: |
Private Limited
Liability Company (In Operation) |
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c. |
Managing Director |
: |
Lalith Prabash
Hapangama |
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d. |
Primary Line of Business |
: |
Manufacturing
and Distribution of Corrugated Cartoons. |
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e. |
Head office |
: |
#18, Nawala Road, Nugegoda. Tel: (00 94 11) 431 1241 / 280 6053 - 4 Fax: (00 94 11) 280 6053 - 4 Email: info@lalangroup.com
/ kishanfernando@lalangroup.com
/ |
|
g. |
No. of Employees |
: |
Not Disclosed. |
- Registration and Shareholder Details
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a. |
Registration No |
: |
PV 80431 |
|
|
Date of Registration |
: |
12th August
2011 |
||
|
b. |
Registered Office |
: |
#18, Nawala
Road, Nugegoda. |
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c. |
Board of Directors As At 31st December 2014 |
: |
Lalith Prabash Hapangama |
Managing
Director |
|
Janaka Prabash Hapangama |
Director |
|||
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d. |
Issued Share Capital |
: |
Rs. 20.00 |
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f. |
Nominal Value of Share |
: |
02 |
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g. |
Authorized Share Capital |
: |
Not applicable
vide Companies Act #7 of 2007. |
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h. |
Share Holders As At 31st December 2014 |
: |
Share Holders |
No. of Shares |
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Lalith Prabash Hapangama |
01 |
|||
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Janaka Prabash Hapangama |
01 |
|||
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i. |
Auditors |
: |
Gunasekara
Rathnayake and Company (#65/3,
Chittampalam A. Gardiner Mawatha, Colombo 02) |
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|
j. |
Company Secretaries |
: |
Komsey (Private)
Limited (#65/3, Chittampalam
A. Gardiner Mawatha, Colombo 02) |
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k. |
Bankers |
: |
Not Disclosed. |
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- Most recent available Financial Information
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 are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity.
The Subject Company L N PAPER
CONVERTERS (PRIVATE) LIMITED is a Private Limited liability Company
incorporated on 12th August
2011 under registration number PV
80431.
The Subject Company is located at the client # 18, Nawala Road, Nugegoda.
General
The subject company primary line of business is Manufacturing and Distribution of Corrugated Cartoons.
Note: Subject Company is associated company of Lalan group
Products
Corrugated Cartoons.
No
of Employees
Not Available
Not
Available
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 : |
Mr. Kishan Fernando |
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Designation : |
CEO |
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Contact No.: |
009411-4311241 / 2806053 / 4 |
|
Date : |
01.12.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.70.44 |
|
LKR |
1 |
Rs.0.47 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Information
Gathered by : |
DIP |
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|
|
|
Analysis Done by
: |
KIN |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.