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Report No. : |
300015 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALCHEMY HEAVY METALS (PVT) LTD |
|
|
|
|
Registered Office : |
#.451/5,
Havelock Road, Colombo-06, |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
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Date of Incorporation : |
31.01.2003 |
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|
|
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Com. Reg. No.: |
PV 7333 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture, Exporter & Supplier of all kinds of
Mineral |
|
|
|
|
No. of Employees : |
100 |
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 |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 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. However, low tax
revenues are a major 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 |
: |
ALCHEMY HEAVY
METALS (PVT) LTD |
|
b. |
Legal Form &
Status |
: |
Private Limited
Liability Company (In Operation) |
|
c. |
Managing Director |
: |
Thamby Lebbe
Mohamed Nawash |
|
d. |
Primary Line of Business |
: |
Manufacture,
Exporter & Supplier of All kinds of Mineral |
|
e. |
Head office |
|
#.451/5, Havelock Road, Colombo-06, Sri Lanka. Tel. No: (00 94 11) 585 8678-79 / 583 7307 Fax No: (00 94 11)
236 5602 |
|
|
Factory |
: |
# 153A, Kandalama Road, Dambulla. Tel. No: (00 94 66) 567 3410-11 / 228 3121 Fax. No: (00 94 66) 228 3120 |
|
f. |
No. of Employees |
: |
Approx. 100 |
Registration and Shareholder Details
|
a. |
Registration No |
: |
N(PVS) 32839 |
|
|
Date of
Registration |
|
31st January 2003 |
||
|
b. |
Re-registration No |
: |
PV 7333 |
|
|
Date of
Re-registration |
|
09th
September 2008 |
||
|
c. |
Registered Office |
: |
# 153A, Kandalama Road, Dambulla |
|
|
d. |
Board of Directors As at 14th October 2014 |
: |
Thamby Lebbe
Mohamed Nawash |
Managing Director |
|
Nimal Felix Cecil
Ranaweera |
Director |
|||
|
Fawsul Hazana
Imtiaz |
Director |
|||
|
T.L. Mohamed Imtiaz |
Director |
|||
|
M. Siddeek Mohamed Mohamed
Ali |
Director |
|||
|
W.M. Indika Sunith
Kumara Wijamuni |
Director |
|||
|
Nandasena Ekanayaka |
Director |
|||
|
e. |
Issued Share
Capital |
: |
Rs.
21,000,020.00 |
|
|
Number of Shares |
: |
2,100,002 |
||
|
f. |
Nominal Value of
Share |
: |
Not
applicable/declared vide Companies Act #7 of 2007 |
|
|
g. |
Share
Holders As at 14th
October 2014 |
: |
Share
Holders |
No. of Shares |
|
M.
Siddeek Mohamed Mohamed Ali |
105,000 |
|||
|
Thamby Lebbe
Mohamed Nawash |
665,001 |
|||
|
T.L.
Mohamed Imtiaz |
665,001 |
|||
|
T.L.
Mohamed Nauzeen |
665,000 |
|||
|
h. |
Auditors |
: |
W.S.
Kiruparatham & Company (# 6A,
6C Daisy Villa Mawatha, Colombo 04) |
|
|
i. |
Company
Secretaries |
: |
B D O Secretaries
(Pvt) Ltd (#
65/2, Sir Chittampalam A Gardiner Mawatha, Colombo 02) |
|
|
k. |
Bankers |
: |
Not
Disclosed |
|
History
The Subject Company
ALCHEMY HEAVY METALS (PVT) LTD is a Private Limited
liability Company incorporated on
31st January 2003 under registration number N (PVS) 32839 and then the company was re-registered on 09th September 2008 under
registration number PV 7333.
Location.
The Subject Company is located at #.451/5, Havelock Road, Colombo-06.
General
The subject company primary line of business is Manufacture, Exporter & Supplier of All
kinds of Mineral.
Products
Zircon, Ilmenite, Rutile,
Garnet, Quartz, Dolamite, Mica….etc
Country
South East Asia,
Africa and Europe Countries
Employees
Approx. 100
The subject company
did not provide any trade reference referrals
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. NANDASENA EKANAYAKA |
|
DESIGNATION |
DIRECTOR |
|
CONTACT NO : |
00094115858678 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Information
gathered by : |
SVA |
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|
|
|
Analysis Done by
: |
KAR |
|
|
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|
Report Prepared
by : |
NIS |
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.