MIRA INFORM REPORT

 

 

Report No. :

502570

Report Date :

21.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

LISPO (PVT) LTD

 

 

Registered Office :

Phase 02, KEPZ, Katunayake Sri Lanka.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

27.07.1984

 

 

Com. Reg. No.:

PV 10733

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter & Wholesale Supplier of Wooden Trophy Products, Kitchen and Bedrooms Systems

 

 

No. of Employees :

130

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SRI LANKA - ECONOMIC OVERVIEW

 

Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.

In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.

Tourism has experienced strong growth during recent years following the resolution 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.

 

Source : CIA

 

Company Profile

 

Basic Information

 

a.

Name of Subject of Inquiry

LISPO (PVT) LTD

b.

Legal Form & Status

Private Limited Liability Company (In Operation)

c.

Chairman

Mr. Dirgha Jang Subba

d.

Primary Line of Business

Manufacturer, Exporter & Wholesale Supplier of Wooden Trophy Products, Kitchen and Bedrooms Systems

e.

Principal Place of Business

Phase 02, KEPZ, Katunayake Sri Lanka. Phese 02

Tel. No: (00 94 11) 2253622 / 2253386 Fax. No: (00 94 11) 2252119

E-Mail: info@lispo.lk / shipping@lispo.lk / lispomail@sltnet.lk priyangika@lispo.lk

Web Site: http://lispoindustries.com/

f.

Employees

Approximately 130

 

 

Company Details

 

 

 

 

 

 

 

a.

Registration No

N (PVS) 1238

Date of Registration

27th July 1984

b.

Re-registration No

PV 10733

Date of Re-registration

07th January 2009

c.

Registered Office

Phase 02, KEPZ, Katunayake, Sri Lanka .

d.

Board of Directors

As At 31st December 2016

Jyoti Subba

Director

Dirgha Jang Subba

Director

Anila Sadasivam Krishnamma

Director

e.

Issued Share Capital

LKR 10,020,200.00

f.

No. of Shares

100,202

g.

Preferential Shares

NA

h.

Nominal Value of Share

NA

i.

Auditors

Amarasekara & Co. Ltd

#12, Rotunda Gardens, Colombo 03, Sri Lanka

j.

Company Secretaries

Management applications (Pvt) Ltd

#12, Rotunda Gardens, Colombo 03, Sri Lanka

k.

Main Bank/s

Seylan Bank PLC, National Development Bank PLC, Commercial Bank of Ceylon PLC

l.

Trading Terms

Purchasing Terms

·         Credit (30 Days)

Sales Terms

·         Advance Payment

 

Type Of Customers

End Users

 

 

Shareholders

 

 

NO.

NAME

NUMBER OF SHARES

1.

 

Jyoti Subba

50,002

2.

 

Dirgha Jang Subba

50,200

 

 

FINANCIAL DETAILS    

 

 - Most recent available Financial Information

 

NA

 

 

CURRENT INVESTIGATION

 

 

Company Logo

 

• History.

 

The subject company was initially formed on 27th July 1984 under N (PVS) 1238 under the Companies Act of Sri Lanka. The subject company was subsequently Re-registered on 07th January 2009 under PV 10733 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka

 

Caption

Lispo Pvt Ltd. A BOI registered company produces & exports wood based accessories/components to Awards & Trophy manufacturers/ distributors around the world. We offer different styles for almost every event or occasion. We are very proud of our long

 

term strong client relationships. Established in 1986, Lispo has developed a fine tuned and successful synergy between innovative technical solutions and solid theatrical designs, resulting in new dimensions in Awards & Trophy manufacturing. We use world's latest renowned machinery & technology. As to the production equipment, almost all of our machines are imported from Italy & Germany. We have been in the business for last 23 years. Our main products are plaques, shields, bases, boxes, risers & stands, post sets etc the client groups are primarily sole production enterprises and wholesalers of Awards & Trophies. Our prices are very competitive. We ensure continuity, integrity & consistency throughout

 

Operational Details

General

Lispo Pvt Ltd. A BOI registered company produces wood based accessories/components to 'Awards & Trophy' manufacturers/ distributors around the world. We offer different styles for almost every event or occasion. The company has been amalgamated with RAPHAEL CLASSICS (PRIVATE) LIMITED [N(PVS) 12233] (PV5982) on 15th November 2016.

 

Products / Services

Wooden plaques, wooden shields, wooden bases, wooden boxes, wooden poster sets, Wooden Kitchen sets, Wooden Beds

 

Employees

130 Approximately

 

Export Countries / Regions

Europe, USA, Australia, Canada, UK, India

 

Import Countries / Regions

China, Italy, Malaysia, USA, Germany

 

Associate Companies

RAPHAEL CLASSICS (PRIVATE) LIMITED [N(PVS) 12233] (PV5982)

 

 

Personal Details of Key Persons

 

Director 1

 

ITEM

DETAIL

Name

Jyoti Subba

Passport Number

F8309798

Nationality

Indian

Gender

Female

Date of Birth

NA

Age

NA

Address

No 4A,Singapore Gardens, Liyanagemulla, Seeduwa, Sri Lanka

 

Director 2

 

ITEM

DETAIL

Name

Dirgha Jang Subba

Passport Number

2345815

Nationality

Nepalese

Gender

Male

Date of Birth

NA

Age

NA

Address

No 4A,Singapore Gardens, Liyanagemulla, Seeduwa, Sri Lanka

 

Director 3

 

ITEM

DETAIL

Name

Anila Sadasivam Krishnamma

ID Number

746524102V

Nationality

Sri Lankan

Gender

Female

Date of Birth

31st May 1974

Age

42 Years

Address

No 11/6, Turner Road, Colombo 08

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Audit

Designation :

Account Executive

Contact No.:

(00 94 11) 2253622

Date :

19.04.2018

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.02

UK Pound

1

INR 92.73

Euro

1

INR 81.46

LKR

1

INR 0.42

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Information Gathered by :

PAM

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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