|
Report No. : |
300774 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Correct Name : |
CHAMATHKAR HOLDINGS
(PVT) LTD |
|
|
|
|
Registered Office : |
# 402/A, High Level Road, Pannipitiya |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
18.02.2013 |
|
|
|
|
Com. Reg. No.: |
PV 91112 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – 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 |
|
Name of Subject of Inquiry |
: |
CHAMATHKAR HOLDINGS (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
Managing
Director |
: |
D.P. Jayalath Krishan Peiris |
|
Primary Line of Business |
: |
Not Disclosed |
|
o. of Employees |
: |
Not Disclosed/Available |
|
: |
PV 91112 |
|||
|
Date of Registration |
: |
18th February 2013 |
||
|
Registered Office |
: |
# 402/A, High
Level Road, Pannipitiya |
||
|
Board of Directors As At 31st December 2013 |
: |
D.P. Jayalath
Krishan Peiris |
Managing Director |
|
|
Muthiah Sasidaran |
Director |
|||
|
Issued Share Capital |
: |
Rs. 10.00 |
||
|
Number of Shares |
: |
01 |
||
|
Nominal Value of Share |
: |
Rs. 10.00 |
||
|
Share Holders As At 31st December 2013 |
: |
Share Holders |
No Of Shares Held |
|
|
D.P. Jayalath
Krishan Peiris |
01 |
|||
|
Auditors |
: |
Kalyananda de Silva & Company (# 241, High level Road, Nawinna, Maharagama) |
||
|
Company Secretaries |
|
Alliance Management System (Pvt) Ltd (# 241, High level Road, Nawinna, Maharagama) |
||
|
Bankers |
|
Not Disclosed- |
||
The subject company has been
registered just 11 months ago and no financials available.
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 CHAMATHKAR HOLDINGS (PVT) LTD is a Private Limited
Liability
Company incorporated on 18th February 2013 under registration number PV 91112.
·
Location.
The client of the subject
company is # 400, High Level Road,
Pannipitiya. Since the
company has been registered just 11 months back, our
Investigator Could not trace
the given address and still being pursued.
The subject company has also not been
listed in any of the telephone directories and as
Such no contact number is
available.
·
Operational
Details.
General
The details of the primary line
of business of the subject company is not disclosed as yet
Products
Details not available.
No of Employees
Not Disclosed
Director’s Details
01)
|
Name |
D.P. Jayalath Krishan Peiris |
|
ID Number |
640610344 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
01st March 1964 |
|
Age |
51 Years |
02)
|
Name |
Muthiah
Sasidaran |
|
ID Number |
771480292 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
27th May 1977 |
|
Age |
38 Years |
·
Financial Data
The subject company has been registered just 11 months ago and no
financials available.
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.
·
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.