MIRA INFORM REPORT

 

 

Report No. :

303414

Report Date :

27.01.2015

 

IDENTIFICATION DETAILS

 

Name :

SYNERGY ENGINEERING (PVT) LIMITED

 

 

Registered Office :

# 452 B, Susilarama Road,  Malabe,

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

16.08.2005

 

 

Com. Reg. No.:

PV 7135

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is handling electrical contractors

 

 

No. of Employees :

Not Available

 

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 – 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

 

 

Company name and address

  

a.

Name of Subject of Inquiry

:

SYNERGY ENGINEERING (PVT) LIMITED

b.

Legal Form  & Status

 

:

 

Private Limited Liability Company. (In Operation)

c.

Managing Director

 :

Hubert Upali Pinto Jayatilleke Seneviratne

d.

Primary Line of Business

:

Handling Electrical Contractors

e.

Place of Business

:

 

# 452 B, Susilarama Road,

Malabe,

Sri Lanka.

 

Tel. No: (00 94 11) 215 6815

Fax No: (00 94 11) 215 6816

 

E Mail: info@synergyeng.biz

              upali@synergyeng.biz

 

f.

No. of Employees

:

Not Disclosed

 

 

COMPANY DETAILS

 

Registration and Shareholder Details

 

a.

Registration No

:

N (PVS) 42845

Date of Registration

:

16th August 2005

b.

Re-registration No

:

PV 7135

Date of Re-registration

:

04th September 2008

c.

Registered Office

:

# 452 B, Susilarama Road, Malabe.

d.

Board of Directors

As At

31st December 2012

:

Hubert Upali Pinto Jayatilleke Seneviratne

Managing Director

V.A. Anoma Priyanthi Seneviratne

Director

Channa Rukman Goonetilleke

Director

Sujeewa Priyantha Ranasinghe

Director

K.T. Sajith Priyantha

Director

e.

Issued Share Capital

:

Rs. 20.00

No. of Shares

 

02

f.

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007

g.

Share Holders

As At

31st December 2012

:

 Share Holders

No. of Shares

V.A. Anoma Priyanthi Seneviratne

01

Channa Rukman Goonetilleke

 01

h.

Auditors

:

AIMS Secretarial Services (Pvt) Ltd

(3rd Floor, Yathama Building, # 142, Gale Road, Colombo 03)

i.

Company Secretaries

:

Nanayakkara & Company

(3rd Floor, Yathama Building, # 142, Gale Road, Colombo 03)

 

 

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

                                                     

History.

 

The Subject Company SYNERGY ENGINEERING (PVT) LIMITED is a Private    Limited   liability Company incorporated on 16th August 2005 under registration number N (PVS) 42845 and then the company was re-registered on 04th September 2008 under registration number PV 7135.

 

Location.

 

The Subject Company is located at the client # 452 B, Susilarama Road, Malabe.

  .

 

Operational Details

 

General

 The Primary line of activity of the subject is Handling Electrical Contractors.

 

Synergy Engineering (Pvt) Ltd is registered with the Institute of Construction & Technical Development (ICTAD) as a Grade1 contractor

 

Services

Distribution and Switchgear Installations

Electrical Lighting and Small Power Installations

Cable supporting systems and cable laying

Emergency Lighting Systems

Fire Alarm Systems

Burglar Alarm

Data Cabling

CCTV Installation

Intercom System

Video Door Phone System

Non Lethal Electric Fencing System

Hi-Tech Photoelectric Beam Detection System

Access Control Systems

Lightning Protection

Electrical Inspection Testing and Certification

Maintenance

Technical Support

 

 

Directors’ Details

 

Name

Hubert Upali Pinto Jayatilleke Seneviratne

ID Number

461013724 X

Nationality

Sri Lankan

Gender

Male

Date of Birth

10th April 1946

Age

68 Years

 

 

Name

V.A. Anoma Priyanthi Seneviratne

ID Number

675341214 V

Nationality

Sri Lankan

Gender

Female

Date of Birth

3rd February 1967

Age

47 Years

 

 

Name

Channa Rukman Goonetilleke

ID Number

652262961 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

13th August 1965

Age

49 Years

 

 

Name

Sujeewa Priyantha Ranasinghe

ID Number

663120107 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

07th November 1966

Age

48 Years

 

 

Name

K.T. Sajith Priyantha

ID Number

662200239 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

07th August 1966

Age

48 Years

 

No of Employees

Not Disclosed

 

Trade references

Not Disclosed

 

 

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 declined by management

 

CONTACT

00094112136815

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.50

UK Pound

1

Rs.92.16

Euro

1

Rs.69.62

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

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%)

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.