MIRA INFORM REPORT

Report No. :	490352
Report Date :	10.02.2018

IDENTIFICATION DETAILS

Name :	DISPENSE SYSTEMS TECHNOLOGIES (PVT) LTD

Registered Office :	# 78/25, Polgasowita Road, Mattegoda

Country :	Sri Lanka

Date of Incorporation :	20.07.2010

Com. Reg. No.:	PV 73301

Legal Form :	Private, Limited Liability Company

Line of Business :	Importers and suppliers of Chemicals

No. of Employees :	05 Approximately

RATING & COMMENTS

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

MIRA’s Rating :

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

(30.06.2017)

Current Rating

(30.09.2017)

Sri Lanka

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 an IMF program. 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 77% of GDP and remains among the highest of the emerging markets.

The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

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

Basic Information

a.	Name of Subject of Inquiry	DISPENSE SYSTEMS TECHNOLOGIES (PVT) LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Managing Director	Mr Nalin Tharaka Karunarathne
d.	Primary Line of Business	Importers and suppliers of Chemicals
		# 78/25, Polgasowita Road, Mattegoda
		Sri Lanka.
e.	Principal Place of Business	Phone : +94 77 3467507 Anura Samarasinghe /+94 777598764 Nalin Tharaka / 0112178668 Fax:2178667 E-Mail: disst@sltnet.lk Web Site: NA
f.	Employees	Approximately 5

Company Details

a.	Registration No	PV 73301
	Date of Registration	20^th July 2010
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 78/25, Polgasowita Road, Mattegoda, Sri Lanka.
d.	Director Board / Ownership As At 31^st March 2017	Samarasinghe Arachchige Don Anura Suranji Samarasinghe	Director
		Nalin Tharaka Karunarathne	Director
e.	Assigned Share Capital	LKR 20.00
f.	No. of Shares	02
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	Danthasinghe & Company Chartered Accountants # 327, 2^nd Floor, Galle Road, Colombo 03, Sri Lanka.
j.	Company Secretaries	Samarasinghe Arachchige Don Anura Suranji Samarasinghe # 132/102, Madura Uyana, Mattegoda, Sri Lanka.
k.	Main Bank/s	Commercial Bank of Ceylon PLC

Shareholders - NA

NO.	NAME	NUMBER OF SHARES
1.	Samarasinghe Arachchige Don Anura Suranji Samarasinghe	01
2.	Nalin Tharaka Karunarathne	01

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

· History.

The subject company was initially formed on 20^th July 2010 under PV 73301 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

· Operational Details.

General

Dispense Systems Technologies (PVT) Ltd is a trading company which was started in 2008 as a small scale company and now it has become a leading company in Sri Lanka. This company has 2 main divisions namely Dispense Products and Dispense Services imports Cleaning and Hygiene solutions from Europe, maintain their stocks and distribute island wide. This is the only operating company in Sri Lanka in providing services for implementation and maintenance of automated Beer Machines and it currently imports about 20 chemicals.

Products & Services

Chemicals

Employees

05 Approximately

Export Countries

Import Countries

UK and Europe (Germany, Netherland, Belgium, Italy)

Associate / Subsidiary Companies

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Samarasinghe Arachchige Don Anura Suranji Samarasinghe
ID Number	723252938V
Nationality	Sri Lankan
Gender	Male
Date of Birth	20^th November 1972
Age	45 Years
Address	# 132/102, Madura Uyana, Mattegoda, Sri Lanka.

Director 2
ITEM	DETAIL
Name	Nalin Tharaka Karunarathne
ID Number	770773466V
Nationality	Sri Lankan
Gender	Male
Date of Birth	17^th March 1977
Age	40 Years
Address	" Sihilal" , Ambanpitiya, Kegalle, Sri Lanka.

INFORMATION DENIED BY

Name :	Anura Samarasinghe
Designation :	Not Divulged
Contact No.:	00094773467507
Date :	09.02.2018

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	POO

Analysis Done by :	NIY

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.