MIRA INFORM REPORT
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Report No. : |
303222 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
A B C PHARMA SERVICES (PVT) LTD |
|
|
|
|
Registered Office : |
# 42, Jayantha Mallimarachchi Mawatha, Colombo - 14 |
|
|
|
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Country : |
Sri Lanka |
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|
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Date of Incorporation : |
27.01.1999 |
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|
|
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Com. Reg. No.: |
PV 198 |
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|
|
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Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Importer and distributor
of Pharmaceutical, Healthcare, Biotechnology, Nutraceutical and Medical
Devices |
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|
|
|
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 : |
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 |
GENERAL
Basic information at a glance
|
Name of Subject of Inquiry |
: |
A B C PHARMA
SERVICES (PVT) LTD |
|
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
|
Chairman |
: |
Adrian Mahesh Basnayake |
|
Primary Line of Business |
: |
Importer and distributor of Pharmaceutical,
Healthcare, Biotechnology, Nutraceutical and Medical Devices |
|
Head office & Place of
Business |
: |
# 42, Jayantha Mallimarachchi
Mawatha, Colombo – 14, Sri Lanka. Tel.
No: (00 94 11) 533 7648 / 533 7649 Fax
No: (00 94 11) 268 5496 E-Mail:
info@abcpharmasl.com |
|
No. of Employees |
: |
-Not
Disclosed- |
COMPANY
DETAILS
Registration and Shareholder Details
|
Registration No |
: |
N (PVS) 22951 |
||
|
Date of Registration |
: |
27th January 1999 |
||
|
Registration No |
|
PV 198 |
||
|
Date of Registration |
|
15th July 2007 |
||
|
Registered Office |
: |
# 42, Jayantha Mallimarachchi
Mawatha, Colombo - 14 |
||
|
Board of Directors As At 06th January 2014 |
: |
Adrian Mahesh Basnayake |
Chairman |
|
|
Annapuranie Chrysanthie Basnayake (Ms) |
Director |
|||
|
Pauline Gunanganie Basnayake (Ms) |
Director |
|||
|
Manuelge Don Prasanna |
Director |
|||
|
Issued Share Capital |
: |
Rs.
14,000,000.00 |
||
|
Number of Shares |
: |
848,000 |
||
|
Nominal Value of Share |
: |
Not applicable/declared vide Companies Act #7 of
2007 |
||
|
Share Holders As At 06th January 2014 |
: |
Share Holders |
No. of Shares |
|
|
Adrian Mahesh Basnayake |
598,000 |
|||
|
Annapuranie Chrysanthie Basnayake (Ms) |
250,000 |
|||
|
Auditors |
: |
Tudor V. Perera
& Company ( 3rd Floor, De Mel Building, Chatham
Street, Colombo – 1 ) |
||
|
Company Secretaries |
: |
Financial Consultants and Allied Services (Pvt)
Ltd ( 3rd Floor, De Mel Building, Chatham
Street, Colombo – 1 ) |
||
|
Bankers |
: |
-Not Disclosed- |
||
Directors’
Details
01)
|
Name |
Adrian Mahesh Basnayake |
|
ID Number |
611900745 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
8th July 1961 |
|
Age |
53 Years |
|
Address |
# 129, Kynsey Road, Colombo - 8 |
02)
|
Name |
Annapuranie Chrysanthie Basnayake |
|
ID Number |
657913294 V |
|
Nationality |
Sri Lankan |
|
Gender |
Female |
|
Date Of Birth |
17th October 1965 |
|
Age |
49 Years |
|
Address |
# 129, Kynsey Road, Colombo - 8 |
03)
|
Name |
Pauline Gunanganie Basnayake |
|
ID Number |
557180311 V |
|
Nationality |
Sri Lankan |
|
Gender |
Female |
|
Date Of Birth |
5th August 1955 |
|
Age |
59 Years |
|
Address |
# 30, Barnes Place , Colombo - 7 |
04)
|
Name |
Manuelge Don Prasanna |
|
ID Number |
693432553 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date Of Birth |
8th December 1969 |
|
Age |
45 Years |
|
Address |
# 15, Angampitiya Road, Ethul Kotte, Kotte |
FINANCIAL
DETAILS
Most recent available Financial Information
THE
COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
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
Company Logo
%20LTD%20-%20303222%2023-Jan-2015_files/image006.jpg)
·
History.
The Subject Company ABC PHARMA SERVICES (PVT) LTD is a
Private Limited liability Company
incorporated on 27th January
1999 under registration number N (PVS) 22951 and the company was
re-registered on 15th July
2007 under registration number PV 198
in terms of Companies Act # 7 of 2007.
·
Location.
The Subject Company is located
at # 42,
Jayantha Mallimarachchi Mawatha,
Colombo – 14, Sri Lanka.
·
Operational
Details.
General
The primary line of business of the subject
company is Importer and distributor of Pharmaceutical,
Healthcare, Biotechnology, Nutraceutical and Medical Devices
The subject company states that they have earned certification by ISO 9001: 2008 Certificate.
Products
All kinds of
pharmaceuticals items, medical laboratories, and hospital equipment’s
Principals
Subject Company is
marketing and distributes products-drugs and devices of brands of the following
companies such as:
Novartis Pharma AG
Reckitt Benckiser
(Lanka) Ltd
ZLB Behring Asia
Pacific Ltd
Novatis Vaccines
Asia Pacific
Gland Pharma Ltd
Lemery, S.A. De
C.V
Medis srl.
Importing Country
India
Employees
-Not Disclosed-
·
Trade references
Sri Lanka Chamber of Pharmaceutical Industry
(SLCPI).
Cosmetic, Devices & Drugs
Regulatory Authority (CDDRA), Ministry of Health
·
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
ANALYSIS
Appraisal of Subject Company
|
Rating: |
|
|
1) Business Trend |
Growing |
|
2) Management
Capability |
Average |
|
3) Commercial
Morality |
Average |
|
4) Reputation |
Average |
|
5) Market Situation |
Very Competitive |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.