MIRA INFORM REPORT

 

 

Report No. :

310231

Report Date :

10.03.2015

 

IDENTIFICATION DETAILS

 

Name :

TABRANE LANKA (PVT) LTD

 

 

Registered Office :

# 19-1/1, Carlwil Place,  Colombo 3

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

21.06.2011

 

 

Com. Reg. No.:

PV 79520

 

 

Legal Form :

Private Limited Liability Company (in operation)

 

 

Line of Business :

Importing and distributing of pharmaceutical products and medical equipments

 

 

No of Employees :

Approximately 50

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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

       

a.

Name of Subject of Inquiry

:

TABRANE LANKA (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company (in operation)

c.

Managing Director

 :

P. G. Mohamed Hanifa Mohamed Rifas

d.

Primary Line of Business

:

Importing and distributing of pharmaceutical products and medical equipments

e.

Places of Business

:

 

 # 19-1/1, Carlwil Place,

 Colombo 3

Sri Lanka

 

Tel. No: (00 94 11) 573 7850 / 523 1192 / 523 2387

Fax No: (00 94 11) 251 2285

 

E Mail: info@tabranelanka.com

 

Marketing Office/Stores:

 

#85/A, 33/1, New Kelani Bridge Road,

Colombo 14.

 

 

 

f.

No. of  Employees

:

Approximately 50

           

 

COMPANY DETAILS  - Registration and Shareholder Details

 

a.

Registration No

:

PV 79520

b.

Date of Registration

:

21st June 2011

c.

Registered Office

:

No: 19-1/1, Carlwil Place, Colombo 3

d.

Board of Directors

As At

31st December2013

:

P. G. Mohamed Hanifa Mohamed Rifas

Chairman/Managing Director

e.

Issued Share Capital

:

Rs.  100.00            

Issued Shares

:

10

f.

Nominal Value of Share

:

Not declared vide Companies Act #7 0f 2007                        

g.

Share Holders

As At

31st December 2013

 

 

                       Share Holders

No. of Shares

P. G. Mohamed Hanifa Mohamed Rifas

10

h.

Auditors

:

R.S Nadarajah and Company, No: 180 and Company, No: 180 -3/3, Sea Street, Colombo 11

i.

Company Secretaries

:

Faizal Ispahani Anver, No: 9, Deanston Place, Colombo 03

j.

Bankers

:

Not Disclosed

 

 

Director’s Details

    

Name

P. G. Mohamed Hanifa Mohamed Rifas

ID Number

773633495 V

Nationality

Sri Lanka

Gender

Male

Date of Birth

28th December 1977

Age

37 Years

Address

No: 61, Batupitiya, Bambaradeniya, Kandy

FINANCIAL DETAILS - 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

 

 

CURRENT INVESTIGATION

 

New Picture (1)

 

 

 

 

 

  • History

 

The Subject Company TABRANE LANKA (PVT) LTD is a Private    Limited   liability Company incorporated on 21st June 2011 under registration number PV 79520.

 

  • Location

 

The Subject Company is located at the client # 19-1/1, Carlwil Place, Colombo 3.

 

The client given address #2/10, Thalakotuwa Garden, Colombo 5 was the previous address.

 

  • Operations Details

 

General

 

The subject company primary line of business is Importing and distributing of pharmaceutical products and medical equipments

 

Products Divisions

 

Pharmaceuticals: Hirone, Trutil, Levepal, Alide Dotobis, Truwin Cerfrotil etc.

Herbacueticals: Heligeen, Pomogreen, Odegree etc.

Nutritionals: Nobacco, Nerveez, Ubi, Geleise etc.

Import Countries

 

India, Pakistan, China, Taiwan, Australia, UK, USA, Germany

 

Suppliers:

Pharmix Laboratories (Pvt) Ltd. Pakistan

Gelnova Laboratories (India) Ltd.

Genome Pharmaceuticals (Pvt) Ltd., India

Sakar Healthcare (Pvt) Ltd., India

Rosswin Pharmaceuticals Limited

Ratnamani Health Care (Pvt) Ltd.

 

Employees

Approximately 50


General Comments    

    

The subject company when contacted gave us some basic details to prepare this report.

 

 

  • Trade references

 

The subject company provided their suppliers (inserted above) as trade references.

 

 

  • 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

 

a) Business Scale         

NA

b) Business Trend

Growing

c) Management Capability

Average

d) Commercial Morality

Average

e) Reputation

Average

f) Market Situation

Very competitive

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.61

UK Pound

1

Rs. 94.39

Euro

1

Rs. 67.96

 

INFORMATION DETAILS

 

Analysis Done by :

RSM

 

 

Report Prepared by :

DPT

 

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%)

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