MIRA INFORM REPORT

Report No. :	351955
Report Date :	03.12.2015

IDENTIFICATION DETAILS

Name :	MARKSS HLC (PRIVATE) LIMITED
Registered Office :	#153/3, Nawala Road, Narahenpita, Colombo 05.
Country :	Sri Lanka
Date of Incorporation :	03.08.2003
Com. Reg. No.:	N (PVS) 46325
Legal Form :	Private Limited Liability Company [In Operation]
Line of Business :	Manufacturing and Distribution of Pharmaceutical Items and Equipment’s.
No. of Employees :	Not Available

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	:	MARKSS HLC (PRIVATE) LIMITED
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	Fiona Therese Mendis
d.	Primary Line of Business	:	Manufacturing and Distribution of Pharmaceutical Items and Equipment’s.
e.	Head office	:	#153/3, Nawala road, Narahenpita, Colombo 05. Tel: (00 94 11) 533 8539 / 236 8686 / 433 4555 Fax: (00 94 11) 5338538 Email: info@markss.lk
f.	Number of Employees	:	Not Disclosed.

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	N (PVS) 46325
	Date of Registration	:	03^rd August 2003
b.	Re-registration No	:	PV 1037
	Date of Re-registration	:	06^th November 2007
c.	Registered Office	:	#153/3, Nawala Road, Narahenpita, Colombo 05.
d.	Board Of Directors As at 19^th March 2014	:	Fiona Therese Mendis	Managing Director
			Rajiv Nanayakkara	Director
			Vidana Pathiranage Ajith Deeptha Jayathilaka	Director
			Lasitha Vasundara De Soyza Gunaratne	Director
			Don Joseph Suresh Chrishanthus Weerasinghe	Director
			Mohamed Nawaz Mustapha	Director
			Halpandeniya Hewage Saman Indunil Priyashantha	Director
			Susantha Deepal Vithanage	Director
e	Auditors	:	M/S Haqquejim Associates (Chartered Accountants) (#69/1, Kynsey Road, Colombo 08)
f	Company Secretaries	:	Assignments (Private) Limited (#69/1, Kynsey Road, Colombo 08)
g.	Bankers	:	Not Disclosed

COMPANY DETAILS - Registration and Shareholder Details (Cont/d….)

i.	Issued Share Capital	:	1,000,000.00
j.	No. of Shares	:	10,000
k.	Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007.
l.	Share Holders As at 19^th March 2014	:	Share Holders	No. of Shares
			Rajiv Shewal Hilary Nanayakkara	9,900
			Fiona Therese Mendis	100

FINANCIAL DETAILS - 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 detailed financials are available for this entity.

CURRENT INVESTIGATION

· History

The Subject Company MARKSS HLC (PRIVATE) LIMITED is a Private Limited liability Company incorporated on 03^rd August 2003 under registration number N (PVS) 46325 and then the company was re-registered on 06^th November 2007 under registration number PV 1037.

· Location.

The Head Office of the Subject Company is located at the client #159/3, Nawala Road, Narahenpita.

· Operational Details.

General

The principal activity of the subject company Manufacturing and Distribution of Pharmaceutical Items and Equipments.

Products

· Pharmaceuticals.

· Bio Medical Equipments

· Nuraceutical

Countries

· China

· Germany

· India

· Pakistan

· Italy

· Japan

· Korea

· Taiwan

· USA

Employees

Not Disclosed

· Directors Details

01)

Name	Fiona Therese Mendis
ID Number	677922940 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	18^th October 1967
Age	48 Years
Address	#12, Albert Place, Dehiwala.

02)

Name	Rajiv Nanayakkara
ID Number	662770302 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	03^rd October 1966
Age	49 Years
Address	#39/1, Jayasinghe Road, Colombo 06

03)

Name	Vidana Pathiranage Ajith Deeptha Jayathilaka
ID Number	703152635 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	10^th November 1970
Age	45 Years
Address	#432, Kesbewa Road, Boralesgamuwa.

04)

Name	Lasitha Vasundara De Soyza Gunaratne
ID Number	691631435 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	11^th June 1969
Age	46 Years
Address	#58/42F, Ananda Balika Mawatha, Pitakotte.

05)

Name	Don Joseph Suresh Chrishanthus Weerasinghe
ID Number	622820277 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	08^th October 1962
Age	53 Years
Address	#11, Keels Housing Complex 3, Weliwita Road, Kaduwela.

06)

Name	Mohamed Nawaz Mustapha
ID Number	612285128 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	15^th August 1961
Age	54 Years
Address	#64, Athidiya Road, Kawdana, Dehiwala

07)

Name	Halpandeniya Hewage Saman Indunil Priyashantha
ID Number	661680350 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th June 1966
Age	49 Years
Address	#86/45, St. Benedict’s Mawatha, Kotahena, Colombo 13

08)

Name	Susantha Deepal Vithanage
ID Number	690463660 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	15^th February 1969
Age	46 Years
Address	#312, Mahavita, Narawala Poddala, Galle

· Trade references

1. Sri Lanka Chamber Of The Pharmaceutical Industry.

2. National Stroke Association of Sri Lanka

3. National Chamber of Commerce in Sri Lanka

· Credit Recommendations

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

INFORMATION DECLINED

Name :	Mr. Philan
Designation :	Finance Head
Contact No.:	009411-2368686
Date :	01.12.2015

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.62
UK Pound	1	Rs.100.34
Euro	1	Rs.70.67
LKR	1	Rs.0.47

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Information Gathered by :	SPA
Analysis Done by :	KAS
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
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%)

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