MIRA INFORM REPORT

 

 

Report No. :

341129

Report Date :

22.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MOUNT PACKS (PVT) LTD

 

 

Registered Office :

# 32, Narampola Road, Katulanda, Dekatana

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

11.02.2002

 

 

Com. Reg. No.:

 PV 17968

 

 

Legal Form :

Private Limited Liability Company  (In Operation)

 

 

Line of Business :

Manufacture and Export of Corrugated Boxes.

 

 

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 – 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

:

MOUNT PACKS (PVT) LTD

 

b.

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

c.

Managing Director

:

M. Arun Priyanga Samaradivakara Mullakanda

d.

Primary Line of Business

:

Manufacture & Export of Corrugated Boxes

e.

Head office

&

Place of Business

 

:

 

# 32, Narampola Road,

Katulanda,

Dekatana.

Sri Lanka.

 

Tel. No: (00 94 11) 576 1100/ 739 2230/ 240 3700/488 8866

Fax No: (00 94 11) 739 2233 /240 3700

 

Email: mount@sltnet.lk

             mount@dialognet.lk

             mpplmarketing@dialognet.lk

 

f.

No. of Employees

:

Approximately 50

           

 

COMPANY DETAILS  - Registration and Shareholder Details

 

a.

Registration No

:

N(PVS) 32334            

Date of Registration

 

11th February  2002

b.

Re-registration No

:

 PV 17968

Date of Re-registration

 

02nd March 2010

c.

Registered Office

:

# 32, Narampola Road, Katulanda,Dekatana, Sri Lanka.

d.

Board of Directors

As at

31st December 2014

:

Aruna Priyanga Samaradivakara Mullakanda

Managing Director

V.A. Pushpika Subhashini Gunathilake Mullakanda (Ms)

Director

e.

Issued Share Capital

:

Rs.  4,500,020.00              

Number of Shares

:

450,0002

f.

Nominal Value of Share

:

Not applicable/declared vide Companies Act #7 of 2007

g.

 

Share Holders

As at

31st December 2014

:

Share Holders

No. of

Shares

 Aruna Priyanga Samaradivakara Mullakanda

337,501

V.A. Pushpika Subhashini Gunathilake Mullakanda (Ms)

112,501

h.

Auditors

:

Aiyar & Co. #104/4/1, Havelock Centre, Havelock Road, Colombo 05

i.

Company Secretaries

:

Business Ancillary Services (Pvt) Ltd, #49, Kandana Road, Ragama.

k.

Bankers

:

Not Disclosed

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

Subject company was contacted, but they declined to provide details without the identity of the client.

                                                                                   

(Note: Based on the corporate laws of Sri Lanka, legal entities which are Private Company with   Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity)

 

 

Current investigation

                                                          

                                            mountpack-logo

 

·         History

                  The Subject Company MOUNT PACKS (PVT) LTD is a Private    Limited   liability Company incorporated on 11th February 2002 under registration number N (PVS) 32334 and the company has been re-registered on 02nd March 2010 under registration number PV 17968.

 

·         Location.

The subject company is located at client # 32, Narampola Road, Katulanda, Dekatana, Sri Lanka

 

·         Operational Details.

 

General

            The subject company primary line of business is Manufacture & Exporting of Corrugated Boxes.

 

            Products

Corrugated Boxes

Value Added Boxes

Corrugated Cartoon

Offset Printed Boxes

 

               New Picture (1)  New Picture (1)

 

Country

India

 

Employees

                  Approximately 50

 

 

Directors’ Details

 

         01)

Name

 Aruna Priyanga Samaradivakara Mullakanda

ID Number

742100529 V

Nationality

Sri Lankan

Gender

Male

Date Of Birth

28th July 1974

Age

41 Years

Address

#550/F, Viharamahadevi Mawatha, Kiribathgoda, Kelaniya

 

         02)

Name

V.A. Pushpika Subhashini Gunathilake Mullakanda

ID Number

7473461020 V

Nationality

Sri Lankan

Gender

Female

Date Of Birth

21st August 1974

Age

 41 Years

Address

#550/F, Viharamahadevi Mawatha, Kiribathgoda, Kelaniya

 

    

           A visual of an ad posted on rainbow pages

 

             http://www.rainbowpages.lk/company_logos/5761100A.jpg

 

 

·         Trade references

 

Sri Lanka Institute of Packaging

Sri Lanka Association of Printers

·         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 DENIED BY

 

Name :

Ms. Manel

Designation :

Marketing Manager

Contact No.:

0009411-2403700

Date :

21.09.2015

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.75

UK Pound

1

Rs.102.17

Euro

1

Rs.74.38

 

INFORMATION DETAILS

 

Information Gathered By :  

NYA

 

 

Analysis Done by :

DIV

 

 

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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