MIRA INFORM REPORT

 

 

Report No. :

312885

Report Date :

19.03.2015

 

IDENTIFICATION DETAILS

 

Name :

E M P PVC TECHNOLOGY (PVT) LTD

 

 

Registered Office :

#26, Temple Burge Industrial Estate, Panagoda, Homagama

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

05.11.2008

 

 

Com. Reg. No.:

PV 66083

 

 

Legal Form :

Private Limited Liability Company (In Operation)

 

 

Line of Business :

Manufacture and Distributing of PVC, PE, ABS Polymer Products.

 

 

No. of Employee :

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 – 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

 

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

     

a.

Name of Subject of Inquiry

:

E M P PVC TECHNOLOGY (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company (In Operation)

c.

Chairman

:

Chandranandana Diyunuge

d.

Primary Line of Business

:

Manufacture and Distributing of PVC, PE, ABS Polymer Products.

e.

Head office

&

Place of Business

 

:

 

 # 26, Temple Burge Industrial Estate,

 Panagoda,

 Homagama,

 Sri Lanka 

        

Tel. No: (00 94 11) 444 2497/ 275 2777

Fax No: (00 94 11) 444 4200/ 275 1900

 

Email: sales@pvc.emp.lk

 

f.

No. of Employees

:

Not Disclosed

                       

 

COMPANY DETAILS 

 

- Registration and Shareholder Details

 

a.

Registration No

:

PV 66083

 

Date of Registration

:

05th November 2008

 

c.

Registered Office

:

#26, Temple Burge Industrial Estate, Panagoda, Homagama,

Sri Lanka 

 

d.

Board of Directors

As At

30th September 2014

 

Chandranandana Diyunuge

          Chairman/

           Director

 

T. Suresh Kumara

Managing Director

 

W. Mahesh Janakantha

Director

 

Daminda Prasajith Kapugama Geeganage 

Director

 

e.

Issued Share Capital

:

Rs. 40

 

Number of Shares

:

04

 

f.

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007

 

g.

            Share Holders

As At

30th September 2014

:

Share Holders

No. of

Shares

Chandranandana Diyunuge

          01

T. Suresh Kumara

          01

W. Mahesh Janakantha

          01

Daminda Prasajith Kapugama Geeganage 

          01

h.

Auditors

:

H.M. Karunarathna Banda, #60A, Akarawita Mawatha, Katuwana Road, Homagama   

i.

Company Secretaries

:

Magni Consultants (PVT) LTD, #157/4, Godagama, Homagama

k.

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS

 

 - Most recent available Financial Information                                    

 

Subject company was contacted and they declined financial details without knowing the end user.

                                  

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

                       

  • History.

 

The Subject Company EMP PVC TECHNOLOGY (PVT) LTD is Private Limited          

Liability Company incorporated on 05th November 2008 under registration number PV 66083.

 

Note: Please note the correct name of the company as EMP PVC TECHNOLOGY (PVT) LTD

 

  • Location.

 

The Subject Company is located at the client. #26, Temple Burge Industrial                

Estate, Panagoda, Homagama, approx. 25 kilo meters from Colombo.

 

       

  • Operational Details.

            

General

The subject company’s primary line of business is Manufacture and Distributing of PVC, PE, ABS Polymer Products.

 

Products

Pipes

Conduits

Pipe Fittings & Accessories

Gutters

 

 

Image result for pipes kj k

 

Import Countries

Raw materials imported from Japan, France, Germany

 

No of Employees

Not Disclosed

 

  • Directors’ Details

 

01)

Name

T. Suresh Kumara

ID Number

730210485V

Nationality

Sri Lankan

Gender

Male

Date of Birth

21st January 1973

Age

42 years

Address

#640B, Temple Road, Godagama

 

02)

Name

Chandranandana Diyunuge

ID Number

710403759V

Nationality

Sri Lankan

Gender

Male

Date of Birth

9th February 1971

Age

44 years

Address

#439/7B, Highlevel Road, Nawinna, Maharagama

 

03)

Name

W. Mahesh Janakantha

ID Number

663410326V

Nationality

Sri Lankan

Gender

Male

Date of Birth

6th December 1966

Age

48 years

Address

#186/17/5, Emiliyana Jayasekara Mawatha, Polwattha Road, Maharagama

 

 

04)

Name

Daminda Prasajith Kapugama Geeganage 

ID Number

712881607V

Nationality

Sri Lankan

Gender

Male

Date of Birth

14th October 1971

Age

43 years

Address

#34/5, Swarna Place, Honnunthara, Piliyandala

 

 

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 knowle

 

 

Information denied

 

MANAGEMENT NON CO-OPERATIVE

0094114442497


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.67

UK Pound

1

Rs.92.46

Euro

1

Rs.66.34

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.