MIRA INFORM REPORT

Report No. :	345107
Report Date :	21.10.2015

IDENTIFICATION DETAILS

Name :	C C S LANKA (PVT) LTD
Registered Office :	Base Line Road, Kochchikade, Daluwakotuwa
Country :	Sri Lanka
Date of Incorporation :	02.09.1988
Com. Reg. No.:	PV 4289
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in business of electronic, engineering & manufacturing services.
No. of Employee :	1000

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 government's 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, but low tax revenues remain a 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	:	C C S LANKA (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	Rateo Roland Zryd (Swiss)
d.	Primary Line of Business	:	Electronic, Engineering & Manufacturing Items
e.	Place of Business (Also Factory )	:	Base Line Road, Kochchikade, Daluwakotuwa, Sri Lanka. (Owned) Tel. No: (00 94 31) 487 1500 Fax No: (00 94 31) 487 0933 Email: hr@ccslanka.lk info@ccslanka.lk
f.	No. of Employees	:	Approximately 1000

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	N (PVS) 4829
	Date of Registration	:	02^nd September 1988
b.	Re-registration No	:	PV 4289
	Date of Re-registration		16^th January 2009
c.	Registered Office	:	Baseline Road, Daluwakotuwa, Kochchikade, Sri Lanka
	Board of Directors As at 23rd April 2015		Rateo Roland Zryd (Swiss)	Managing Director
			Upul Hiniduma Liyanage	Director
			Thomas Kaiser (Swiss)	Director
			Daniel Lippuner (Swiss)	Director
			Hans Peter Houser (Germany)	Director
e.	Issued Share Capital	:	Rs. 100,000,000.00
	Number of Shares	:	1,000,000
f.	Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007
g	SVAT No	:	SVAT001701
	Reg. Date	:	28^th April 2011
	TIN Number	:	114048291-0000
	Issuing Authority	:	Dept. Of Inland Revenue

Registration and Shareholder Details

g.	Share Holders As At 23rd April 2015		Share Holders	No. of Shares
			C C S International Ltd (Incorporated in Switzerland)	1,000,000
h.	Auditors	:	KPMG (# 32 A, Sir Mohamed Macan Markar Mawatha, Colombo 03, Sri Lanka)
i.	Company Secretaries	:	S S P Corporate Services (Pvt) Ltd (# 101, Inner Flower Road, Colombo 03)
k.	Bankers	:	· National Development Bank Colombo, Sri Lanka · Deutsche Bank Colombo, Sri Lanka

Directors Details

01)

Name	Rateo Roland Zryd
PP Number	F 0926217
Nationality	Switzerland

02)

Name	Upali Hiniduma Liyanage
ID Number	611394870 X
Nationality	Sri Lankan
Gender	Male
Date of birth	18th May 1961
Age	54 Years
Address	#72, Kattuwa Road, Ettukala, Negombo

03)

Name	Thomes Kaiser
PP Number	F 0649527
Nationality	Switzerland

04)

Name	Daniel Lippuner
PP Number	F 2366587
Nationality	Switzerland

05)

Name	Hans Peter Houser
Pp Number	F HTIF25K
Nationality	Germany

FINANCIAL DETAILS

Most recent available Financial Information

The company has declined to provide any financial information

We have contacted the accounts division of the company to obtain financial information and they declined to give us any financial information as they insist to know the details of the end user.

It should be noted that the particular industry segment the company is involved has very good

Growth potential and as such it can be expected for the company to expect a good growth

Prospects

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 C C S LANKA (PVT) LTD is a Private    Limited   Liability Company incorporated on 02nd September 1988 under registration number N (PVS) 4829 and then the company was re-registered on 16th January 2009 under registration number PV 4289 in terms of Companies Act #7 of 2007.

The subject company was originally incorporated as ELSUMA (PVT) LTD on 02nd September 1988 and then changed as C C S ELSUMA (PVT) LTD on 03rd March 2005 and it was again changed to C C S LANKA (PVT) LTD on 20th February 2009. Therefore, the present name of the Subject Company is C C S LANKA (PVT) LTD.

CCS Lanka (Pvt.) Ltd is Swiss EMS manufacturing electronic company in Sri Lanka and a subsidiary of CCS Switzerland (Head Office in Switzerland) which is having operations in Hong Kong, China, Germany.

It is a BOI approved company.

LOCATION

The Subject Company is located at the client Base Line Road, Daluwakotuwa Kochchikade, , Sri Lanka, a location in the north- west sea coast approx. 45 kilo meters north of Colombo

OPERATIONAL DETAILS

General

The subject company’s primary line of business is Electronic & Engineering & Manufacturing Items including coiled goods and cable assemblies,

The subject company has earned ISO 9001:2008, ISO 14001:2004, OHSAS 18001 2007

Services

Electronic & Engineering & Manufacturing Items including coiled goods and cable assemblies, a new concept which defines the foundations of their core competence. It is stated their services today encompass a European-Asian-orientated service package in the area of electronic and mechatronic applications.

The production area is approx.20, 000 sq.meters with three business centre for SMD/THT assemblies & ODM, Coiled Goods and cable assemblies.

2 SMD production lines Assemble on (capacity of 300‘000 p/h)

Marconi Test Equipments

In circuit/Function/Burn-in

RoHS compatible infrastructure

No of Employees

Approximately 1000

Export of

Finished Goods

Exporting Country

Switzerland

Imports of

Raw Material

Importing Country

Germany, China, Switzerland, India

Trading Terms (Purchasing and Selling)

Cash, Advance Payment and Cheque

It is stated that the CCS Group have production facility in the following countries:

Switzerland, Germany, Slovakia Austria, China/Hong Kong

TRADE REFERENCES

Board of Investment of Sri Lanka

European Chamber of Commerce of Sri Lanka

Sri Lanka Electronics Manufacturers and Exporters Association (SLEMEA)

Sri Lanka Export Development Board

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Srivanthi
Designation :	Finance Manager
Contact No.:	(009431) 4871500

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.89
UK Pound	1	Rs.100.39
Euro	1	Rs.73.52

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	ASH

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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