MIRA INFORM REPORT

 

 

Report No. :

502448

Report Date :

21.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TRADEKEM (PVT) LTD

 

 

Registered Office :

# 67, Old Road, Navinna, Maharagama

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

30.05.2001

 

 

Com. Reg. No.:

PV 14445

 

 

Legal Form :

Private, Limited Liability

 

 

Line of Business :

Importers and Suppliers of Chemical Raw Materials

 

 

No. of Employees :

10 Approximately

 

 

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

TRADEKEM (PVT) LTD

b.

Legal Form & Status

Private, Limited Liability Company (In Operation)

c.

Chairman

Mr Jagath Ferdinandas

d.

Primary Line of Business

Importers and Suppliers of Chemical Raw Materials

e.

Principal Place of Business

16/7 A, JOSWEL PLACE, MIRIHANA, NUGEGODA Sri Lanka

Head office : No. 67 2/2, Old Road, Nawinna, Maharagama, Sri Lanka. Phone:(00 94 11) 2578060/2578061/2549045 Fax : (00 94 11)

E-Mail: info@tradekem.net/sachithra@tradekem.net

Web Site: http://tradekem.net

f.

Employees

10 Approximately

 

 

Company Details

 

 

 

 

 

a.

Registration No

N(PVS)28512

Date of Registration

30th May 2001

b.

Re-registration No

PV 14445

Date of Re-registration

07th July 2009

c.

Registered Office

# 67, Old Road, Navinna, Maharagama, Sri Lanka.

d.

Director Board / Ownership As At 15th December 2017

Talpe Guruge Jagath Anura Ferdinandez

Chairman

Rajamanthree Pradeepa Sanjeewani Ferdinandez

Director

e.

Stated Share Capital

LKR 4,523,150.00

f.

No. of Shares

452,315

g.

Preferential Shares

NA

h.

Nominal Value of Share

LKR 10.00

i.

Auditors

Liyanage & Company

# 31, Knady Road, Wedamulla, Kelaniya, Sri Lanka.

j.

Company Secretaries

S & A Consultants (Pvt) Ltd

# 49 G, Gemunu Mawatha, Oruwala, Sri Lanka.

k.

Main Bank/s

NA

 

 

Shareholders

 

NO.

NAME

NUMBER OF SHARES

1.

 

Talpe Guruge Jagath Anura Ferdinandez

339,237

2.

 

Rajamanthree Pradeepa Sanjeewani Ferdinandez

113,079

 

 

FINANCIAL DETAILS     

 

Most recent available Financial Information

 

NA

 

 

CURRENT INVESTIGATION

 

TRADEKEM (PVT) LTD.

 

 

Company Logo

 

·         History.

 

The subject company was initially formed on 30th May 2001 under N (PVS) 28512 under the company's act of Sri Lanka. The subject company was subsequently re-registered under the companies Act No. 07, of 2007 under PV 14445 on 07th July 2009.

 

Caption

 

Tradekem (Pvt) Ltd. is a professional supplier of chemical raw materials for various industries with the main focus on the surface coating, construction, printing inks, ceramic/porcelain, detergent and rubber industries.

 

Tradekem (Pvt) Ltd. was established in 2001 and has grown up during past years from a small trading house to one of the leading chemical raw materials suppliers in Sri Lanka. The objective of Tradekem (Pvt) Ltd. is to become a major player in the chemical trading & distribution business in the region through a dedicated and qualified team.

 

Being a one-stop-shop for wide range of high quality industrial raw materials and cost effective solutions we rely on our experience to achieve consistent growth. We use our unrivalled chemical handling expertise to help our customers get the best quality and services. Our commitment to quality has allowed us to successfully obtain repeat business and develop long term relationships with numerous clients. Our strong presence in the local chemical market and global sourcing strategy have helped us entering in to exclusive long term business partnerships with large number of world renowned chemical companies who have acquired international standards such as ISO, Lloyd, REACH etc.

Our well-equipped ware house facilities which consist of 20000 square feet and our own delivery vehicles enables us to stock enough inventory and ensure timely delivery of our products to our customers.

 

 

·         Operational Details.

 

General

Tradekem is a importer and supplier of Chemical Raw Materials for various industries and various entities that manufacture Chemical products in Sri Lanka. The subject company is a small scale operation but supplies a variety of Raw materials and is a known supplier in the industry.

 

Products & Services

BV 809 MATTING AGENT

HEC -HYDROXYPROPYLMETHYLCELLULOSE

BARIUM SULPHATE

ACRYLIC THICKENER

 

Employees

10 Approximately

 

Export Countries

NA

 

Import Countries

China, India, USA

 

Associate / Subsidiary Companies

NA

 

Factory / Warehouse and Sales Outlets

Owned

 

 

Personal Details of Key Persons

 

Director 1

 

ITEM

DETAIL

Name

Talpe Guruge Jagath Anura Ferdinandez

ID Number

651150760V

Nationality

Sri Lankan

Gender

Male

Date of Birth

24.04.1965

Age

53 Years

Address

# 129, Illuppugedara Road, Kurunegala, Sri Lanka.

 

Director 2

ITEM

DETAIL

Name

Rajamanthree Pradeepa Sanjeewani Ferdinandez

ID Number

767012683V

Nationality

Sri Lankan

Gender

Female

Date of Birth

19.07.1976

Age

41 Years

Address

Gangasiriwatte, Sirimalwatte, Gunnapana, Kandy, Sri Lanka.

 

 

INFORMATION DENIED

 

Management non-co-operative (00 94 11) 2578060 / 2578061

 

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 :

GAY

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TRU

                                                


 

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.