MIRA INFORM REPORT

 

 

Report No. :

340661

Report Date :

21.09.2015

 

IDENTIFICATION DETAILS

 

Name :

CEYLON BEVERAGE CAN (PVT) LTD

 

 

Registered Office :

#54, Sarasavi Lane, Castle Street, Colombo 08

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

21.02.2014

 

 

Com. Reg. No.:

PV 97108

 

 

Legal Form :

Private Limited Liability Company (In Operation).

 

 

Line of Business :

Manufacture Aluminium Can & Lid for Export & Local Sales.

 

 

No. of Employees :

9 (Approximately)

 

 

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

:

CEYLON BEVERAGE CAN (PVT) LTD

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

c.

Chairman

:

Muthiah Muralidaran

d.

Primary Line of Business

:

Manufacture Aluminium Can & Lid for Export & Local Sales.

e.

Office, Place of Business & Factory

:

#54, Sarasavi Lane,

Castle Street,

Colombo 08.

 

Tel: (00 94 11) 267 4353

Email ID : sec@ceyloncan.com

Website : http://www.ceyloncan.com

f.

No. of Employees

:

9 (Approximately)

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

a.

Registration No

:

PV 97108

Date of Registration

 

21st February 2014

c.

Registered Office

:

#54, Sarasavi Lane, Castle Street, Colombo 08.

d.

Board of Directors

As At

31st March 2015

:

Muthiah Muralidaran

Chairman

Harmeet Singh Ahuja

Director

Muthiah Prabagaran

Director

Madini Malar S. Ramamurthi

Director

Sathyamurthy Chandramohan

Director

Muthiah Sasidaran

Director

 

Total Value of Shares

:

Rs. 100.00

 

Total No. of Issued Shares

:

10

 

Nominal Value of Share

:

Not applicable vide Companies Act #7 of 2007

 

Share Holders

As At

22nd February 2014

:

Share Holders

No. of  Shares

Harmeet Singh Ahuja

04

Muthiah Muralidaran

03

Muthiah Prabagaran

03

 

Auditors

:

K.P.N.G.

 

Company Secretaries

:

Niranga Nanaykkara

(#54, Sarasavi Lane, Castle Street, Colombo 08.)

 

Bankers

:

Bank of Ceylon, Colombo

 

 

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                      

 

·         History.

 

   The Subject Company CEYLON BEVERAGE CAN (PVT) LTD is a Private Limited Liability Company incorporated on 21st February 2014 under registration number PV 97108.

 

                  The chairman of the Subject Company is Mr. Muthiah Muralidaran world known former swift   

                   baller in Sri Lankan team.

 

 

·         Location.

 

The Subject Company is located at # 54, Sarasavi Lane, Castle Street, Colombo 08.

The Client is incorrect Sarasavi Lane, Castle Street No.54, 08 Colombo, Sri Lanka.

 

 

·         Operational Details.

 

General

                  The subject company’s primary line of business is Manufacture Aluminium can & Lid for Export & Local Sales.

 

Products

Aluminium Cans & Lids.

 

Country

Not Disclosed.

 

No of Employees

9 (Approximately)

 

 

Directors Details

 

01)

Name

Harmeet Singh Ahuja

Nationality

British

PP Number

801713842

 

02)

Name

Muthaih Muralidaran

Nationality

Sri Lankan

ID Number

721082776 V

Gender

Male

Date of Birth

17th April 1972

Age

43 Years

Address

#73/6, Kumaragewatte Road, Saman Uyana, Pelawatte.

 

03)

Name

Muthiah Prabagaran

Nationality

Sri Lankan

ID Number

783581612 X

Gender

Male

Date of Birth

23rd December 1978

Age

37 Years

Address

#73/6, Kumaragewatte Road, Saman Uyana, Pelawatte.

 

04)

Name

Madini Malar S. Ramamurthi

Nationality

Malaysian

PP Number

9561902

 

05)

Name

Sathyamurthy Chandramohan

Nationality

America

PP Number

218228557

 

06)

Name

Muthiah Sasidaran

Nationality

Sri Lankan

ID Number

771480292 V

Gender

Male

Date of Birth

27th May 1977

Age

38 Years

Address

#73/41A, Kumaragewatte Road, Saman Uyana, Pelawatte.

 

 

·         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.

 

 

INFORMATION PARTED BY (General DETAILS)

 

Name :

Ms. Piume

Designation :

Senior Assistant of Managing Director 

Contact No.:

(009411) 2674353

Date :

19.09.2015

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.93

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

INFORMATION DETAILS

 

Information Gathered by :

SPR

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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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