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Report No. : |
339642 |
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Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
B T L LANKA (PVT) LTD |
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|
|
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Registered Office : |
Level 6, BTL Shipping House, #45/2, Braybrooke Street, Colombo 02 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
23.12.1996 |
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Com. Reg. No.: |
PV 6927 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is Engaged in Shipping &
Logistic. |
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No. of Employees : |
Approximately 70 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
|
a. |
Name of Subject of Inquiry |
: |
B T L LANKA (PVT) LTD |
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b. |
Legal Form & Status |
: |
Private Limited Liability Company (In Operation) |
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c. |
Managing Director |
: |
Fredrick Ranjan Rathnasingham |
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d. |
Primary Line of Business |
: |
Shipping & Logistic. |
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e. |
Place of Business & Factory |
: |
BTL Lanka (Pvt) Ltd, Level 6, BTL Shipping House, #45/2, Braybrooke Street, Colombo 02, Sri Lanka. Tel: (00 94 11) 544 8888 Fax: (00 94 11) 230 0691 Email: lanka.com@btl-feeders.com
Tel: (00 94 77) 732 3265 - Manager Logistic
– Raveen Perera Tel: (00 94 77) 774 6700 – General Manager
– Operation – Jude Benedict Tel: (00 94 77) 730 7533 – Deputy Manager
Marketing & Documentation – Anura Shaminda Tel: (00 94 77) 739 8253 – Chief Financial
Officer – Janaka Jayaweera |
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f. |
No. of Employees |
: |
Approximately 70 |
Registration
and Shareholder Details
|
a. |
Registration No |
: |
N (PVS) 18332 |
|||
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b. |
Date of Registration |
: |
23rd December 1996 |
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c. |
Re-Registration No |
: |
PV 6927 |
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d. |
Date of Re-Registration |
: |
26th August 2008 |
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f. |
Registered Office |
: |
#45/2, Braybrooke Street, Colombo 02. |
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g. |
Board of Directors As At 13th October 2014 |
: |
Fredrick Ranjan Rathnasingham |
Managing Director |
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|
`Smart William
McDonald |
Director |
|||||
|
Joachim Von Der
Heydt |
Director |
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Authorised Share Capital |
: |
Rs.
7,000,000.00 |
||||
|
i. |
Issued Share Capital |
: |
700,000 |
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j. |
Nominal Value of Share |
: |
Not applicable/declared vide
Companies Act #7 of 2007 |
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k. |
Share Holders As At 13th October 2014 |
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Share
Holders |
No.
of Shares |
||
|
Fredrick Ranjan Rathnasingham |
420,000 |
|||||
|
Bengal
Tiger Line Limited |
280,000 |
|||||
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l. |
Auditors |
: |
KPMG (32A,
Sir. Mohamed Macan Markar Mawatha, Colombo 03) |
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m. |
Company Secretaries |
: |
S S P Corporate Services (Pvt)
Ltd #101, Inner Flower Road,
Colombo 03 |
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n. |
Bankers |
: |
HSBC |
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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)
·
History.
The
Subject Company BTL LANKA (PVT) LTD is
a Private Limited Liability Company incorporated on 23rd December 1996 under
Registration Number N (PVS) 18332 and
then the company was re-registered on 26th
August 2008 under registration number
PV 6927.
·
Location.
The Subject
Company is located at the client # BTL
Lanka (Pvt) Ltd, Level 6, BTL Shipping House, #45/2, Braybrooke Street, Colombo
02.
·
Operations
Details.
General
The
subject company primary line of business is Shipping & Logistic.
Services
Shipping
Agency Activities.
Country
Not
Disclosed.
No of
Employees
Approximately 70
·
Financial
Data
The
company has declined to provide information on its finances
·
General
Comments
The subject
company when contacted refuse to provide any information to prepare this report
and declined to disclose any operational or financial information, However all
information received is from non-formal sources but clearly originating from
the company.
·
Trade
references
The subject company did not
provide any trade reference referrals
·
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.
|
Name : |
Mr. Janaka Jayaweer |
|
Designation : |
Account Manager |
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Contact No.: |
00094115448888 |
|
Date : |
11.09.2015 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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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.