MIRA INFORM REPORT

 

 

Report No. :

355831

Report Date :

30.12.2015

 

IDENTIFICATION DETAILS

 

Name :

D. B. AUTOMATION (PVT) LTD

 

 

Registered Office :

# 48, Nandana Gardens (facing Duplication Road), Colombo 04

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

08.08.2002

 

 

Com. Reg. No.:

PV 8932

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Import and Manufacture of Barcode labels, printers, scanners

 

 

No. of Employee :

45

 

 

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

:

D. B. AUTOMATION (PVT) LTD

 

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

 

c.

Managing Director

 :

Mohamed Nazeerdeen  Mohamed Najeeb

 

d.

Primary Line of Business

:

Import and Manufacture of Barcode labels, printers, scanners.

 

e.

Register Office  (Factory also)

:

 # 48, Nandana Gardens (Facing Duplication Road),

Colombo 04.

Sri Lanka

 

Tel. No: (00 94 11) 472 3902, 250 6448, 451 3963

Fax No: (00 94 11) 451 3894

Email; info@dbautomation.lk, gm@dbautomation.lk

Website : http://www.dbautomation.lk

 

Contact Person: Mr. Yuzri, General Manager

 

f.

No. of  Employees

:

45 (Approximately)

 

 

COMPANY DETAIL

 

Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 31272

Date of Registration

:

08th August 2002

b.

Re-Registration No.

:

PV 8932

Date of Re-Registration

:

04th November 2008

c.

Former Registered Office

:

#44/1/1, Haig Road, Colombo 04

d.

Board of Directors

As At

15th August 2014

:

 Mohamed Nazeerdeen  Mohamed Najeeb

Managing Director

Fathima Safaya Najeeb

Director

Mohamed Nazeerdeen Mohamed Nawaiserdeen

Director

Mohamed Fa-Amin Mohamed Najeeb

Director

e.

Issued Share Capital

:

Rs.20.00

f.

Issued Shares

:

02

G.

Nominal Value of Share

:

Not stated vide Companies Act #7 of 2007

h.

Share Holders

As At

15th August 2014

 

                       Share Holders

No. of Shares

Mohamed Nazeerdeen  Mohamed Najeeb

01

Fathima Safaya Najeeb

01

i.

Auditors

:

Ranaweera Nagasinghe & Company , #41/5B, Old Market Road, Kotuwegoda, Matara.

j.

Company Secretaries

:

Consultants and Secretaries (Pvt) Ltd, #186, Lumbini Lane, Dalugama, Kelaniya

k.

Bankers

:

·   Hatton national bank Plc

Colombo-10, Sri Lanka

 

·   Union Bank Ltd

Branch – Colombo, Sri Lanka

 

 

Directors’ Details

 

01)

Name

Mohamed Nazeerdeen  Mohamed Najeeb

ID Number

582743053V

Nationality

Sri Lankan

Gender

Male

Date of Birth

30th Sept. 1958

Age

57 Years

Address

#118, New Tangalle Road, Matara

 

 

02)

Name

Fathima Safaya Najeeb

ID Number

687620801V

Nationality

Sri Lankan

Gender

Female

Date of Birth

18th Sept. 1968

Age

47 Years

Address

#118, New Tangalle Road, Matara

 

 

03)

Name

Mohamed Nazeerdeen  Mohamed Nawaiserdeen

ID Number

683060135V

Nationality

Sri Lankan

Gender

Male

Date of Birth

1st November1968

Age

47 Years

Address

#118, New Tangalle Road, Matara

 

 

4)

Name

Mohamed Fa-Amin Mohamed Najeeb

ID Number

911890100V

Nationality

Sri Lankan

Gender

Male

Date of Birth

16th July 1991

Age

24 Years

Address

#118, New Tangalle Road, Matara

 

 

FINANCIAL DETAILS

 

Most recent available Financial Information

 

The company has declined to provide information on its finances due to security reasons.

 

However, it should be taken in to consideration that the particular industry/trading segment the  

Company involved has a very good growth potential and as such it can be expected for the  

Company to have good income prospects.

                                                                                                                                                                       

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 financials are available for this entity

 

 

CURRENT INVESTIGATION

                                               

·         History.

 

                      Company Logo

                     https://fbcdn-profile-a.akamaihd.net/hprofile-ak-xfa1/v/t1.0-1/c17.17.218.218/s50x50/262611_145740205576740_729064146_n.jpg?oh=bec2d50505b5666e6e772ad6b24d4b30&oe=56D4FBA8&__gda__=1460967652_ff1f7180fa60ab305634d0a0b97d58a6

 

The Subject Company D. B. AUTOMATION (PVT) LTD is a Private    Limited                     liability Company incorporated ON 08TH August, 2002 under Registration No. N (PVS) 31272 and Re-Registered  on 04th November 2008 under No. PV 8932 Vide companies Act #7 of 2007.

                Subject company is an associate company of Deen Brothers (Pvt) Ltd. 

 

·         Location.

 

The Subject Company is located at the client # 48, Nandana Gardens (facing Duplication Road), Colombo 04.

 

·         Operations Details.

 

General

     The subject company primary line of business is Import and Manufacture of Barcode labels, printers,          scanners.

 

Products:

Zebra high performance printers, Mid range printer, Desktop, Wristband, Mobile and Card printers etc.

Motorola Barcode Scanners,

Barcode printer ribbons and labels

 

Subject is Distributor of ZEBRA Barcode & Card Printers and accessories in Sri Lanka.  They also are the authorized reseller for SYMBOL/MOTOROLA Scanners.

 

They claim to have the largest stock of ZEBRA Printers and accessories in Sri Lanka.

 

Company is having a state of the art Label manufacturing Factory making them largest supplier of Barcode Labels and Ribbons to the Sri Lankan and Maldives.

 

                  Importers of

                  Raw Material

 

Import Country

Singapore, Malaysia, China, Taiwan

 

                 Exporting Countries

Barcode Labels and Ribbons to Maldives.

 

No of Employees

                  45 (Approximately)

                 

                  Trading Terms

                  Advance Payment and Cheque (Sales and Purchasing Term)

 

                  Type of Customers

            End Users

 

           Customer

           Commercial Bank of Ceylon

 

           Supplier

          Avery Dennison

 

General Comments

                

When the Subject Company was contacted they were cooperative and polite in providing the information given in this report.

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Fasmi

Designation :

Sales Manager

Contact No.:

0009411-2506448

 

 

Name :

Mr. Yusryayad

Designation :

General Manager

Contact No.:

0009411-2506448

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.37

UK Pound

1

Rs.98.91

Euro

1

Rs.72.85

LKR

1

Rs. 0.46

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYN

 

 

Analysis Done by :

AMR

 

 

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.