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Report No. : |
357125 |
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Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHIELD MEDICAL (PVT) LTD |
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Registered Office : |
#240/32, Denzil Kobbekaduwa
Mawatha, Battaramulla |
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Country : |
Sri Lanka |
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Date of Incorporation : |
30.03.2006 |
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Com. Reg. No.: |
PV 11033 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
General Merchants and
Wholesale & Retail distributor, Trader, Suppliers of
Pharmaceutical/ Healthcare items & DEVICES |
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No. of Employee : |
15 Approximately |
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 : |
Slow but correct |
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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 |
Basic
information at a glance
|
a. |
Name of Subject of Inquiry |
: |
SHIELD MEDICAL (PVT) LTD |
|
b. |
Legal Form
& Status |
: |
Private Limited Liability Company (in operation) |
|
c. |
Managing Director |
: |
A.U. Ravindranath Pragnadasa |
|
d. |
Primary Line of Business |
: |
General Merchants and
Wholesale & Retail distributor, Trader, Suppliers of
Pharmaceutical/ Healthcare items & DEVICES |
|
e. |
Office & Place of Business |
: |
# 240/32, Densil Kobbekaduwa Mawatha, Battaramulla Sri Lanka. Tel. No: (00 94 11) 739 8900 Fax No: (00 94 11) 739 8906 Mobile: (00 94 77) 727 7839
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|
f. |
No. of
Employees |
: |
Approx.15 |
Registration
and Shareholder Details
|
a. |
Registration No |
: |
N (PVS) 45664 |
|||
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Date of
Registration |
: |
30th March, 2006 |
||||
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b. |
Re-Registration
No |
: |
PV 11033 |
|||
|
Date of
Re-Registration |
: |
19th January,
2009 |
||||
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c. |
Registered
Address |
: |
#240/32, Denzil Kobbekaduwa Mawatha,
Battaramulla. Sri Lanka |
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d. |
Board of
Directors As At 31st
December 2013 |
: |
A.U. Ravindranath Pragnadasa |
Managing Director |
||
|
Sheran Indika Mahendranath Pragnadasa |
Director |
|||||
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e. |
Issued Share
Capital |
: |
Rs.
10,000,000.00 |
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Number of shares |
: |
1,000,000
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||||
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f. |
Authorised Share
Capital |
: |
Not applicable/declared vide Companies Act #7 of 2007 |
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g. |
Share Holders As At 31st December 2013 |
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Share Holders |
No. of Shares |
||
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A.U. Ravindranath Pragnadasa |
500,000 |
|||||
|
Sheran Indika Mahendranath Pragnadasa |
500,000 |
|||||
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h. |
Auditors |
: |
Jacey and Company, (#915, Thambiah Avenue, Colombo 07) |
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i. |
Company
Secretaries |
: |
R and J Associates (#480/8, Elvitigala Mawatha,
Colombo 05) |
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j. |
Bankers |
: |
Not disclosed |
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01)
|
Name |
A.U. Ravindranath Pragnadasa |
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Gender |
Male |
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Nationality |
Sri Lankan |
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National ID No. |
570170570V |
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Date of Birth |
17th January 1957 |
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Age |
58 Years |
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Address |
# 91/B, Batalanda,
Heiyantuduwa. Sri Lanka |
02)
|
Name |
Sheran Indika Mahendranath
Pragnadasa |
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Gender |
Male |
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Nationality |
Sri Lankan |
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National ID No. |
780632518V |
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Date of Birth |
3rd March 1978 |
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Age |
37 Years |
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Address |
#305/17C, Mawaramandiya,
Siyambalape Sri Lanka |
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 is not required to make public disclosure of their
annual financials. Therefore no financials are available for this entity)
·
History.
The subject company SHIELD MEDICAL (PVT) LTD
is a Private Limited Liability Company
incorporated on 30th March,
2006 under registration number N (PVS) 45664 and Re-registered on 19th January, 2009 under No:
PV 11033, in terms of Companies Act #7 of 2007.
Location.
The
Subject Company is located at the client
# 240/32, Denzil Kobbekaduwa Mawatha, Battaramulla a
business cum residential town approx. 08 kilo meters north- east of Colombo
City.
·
Operations
Details.
General
The subject company’s primary line of
business is wholesale and retail distribution of pharmaceutical and health
food items & Devices and trading.
Subject company is registered at the
Cosmetic, Devices & Drugs Regulatory Authority, (CDDRA) Ministry of Health,
as a supplier and importer.
Products
Adventa Health-
Surgical Gloves - Powdered
Maxitex
Sur-G Glov
Maxitex Duplex Powdered
Surgical Gloves - Powder free
Maxitex PF
Maxitex Neuro PF
Maxitex Duplex Powder
Surgical Gloves - Synthetic
Infopia: Models
such as Finetest, EasyGluco, GlucolAB, Mobile Healthcare Research
Completion, Full Auto Bio-chemistry Analyzer
Disinfectant:
Hemoclean, Scotelin, Artston A,B,C,G Liquids etc.
Contraceptive
products: Deponeo
Disposable syringe
& Needles: Shandong Weigao
Vigilance medical
devices; Ecosorb, Silk, Linen Vigiroll etc.
Med-line disposable
products- Henke Sass Wolf
Bellco by Sorin
Italia
Surgical
Disposables: Vitromed
Importing
Countries:
UK, Germany, Italy
Employees
Approx. 15
Trade References:
Cosmetic, Devices & Drugs Regulatory
Authority, (CDDRA) Ministry of Health,
Colombo.
·
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
Management non-cooperative
(009411)7398900
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
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 : |
KAM |
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|
|
|
Analysis Done by
: |
TRI |
|
|
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|
Report Prepared
by : |
TRU |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.