MIRA INFORM REPORT

Report No. :	492543
Report Date :	22.02.2018

IDENTIFICATION DETAILS

Name :	DATA MANAGEMENT SYSTEMS (PRIVATE) LIMITED

Registered Office :	# 221/5, Dharmapala Mawatha, Colombo 07,

Country :	Sri Lanka

Date of Incorporation :	1976 03.08.2010 (Date of Re-registration)

Com. Reg. No.:	PV 19042

Legal Form :	Private, Limited Liability Company

Line of Business :	Distributor and service provider of ICT product and solutions

No. of Employees :	500 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

(30.09.2017)

Current Rating

(31.12.2017)

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 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

Basic Information

a.	Name of Subject of Inquiry	DATA MANAGEMENT SYSTEMS (PRIVATE) LIMITED
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman	Mr Ruwan Tissa Nilkamal Ranatunga
d.	Primary Line of Business	Distributor and service provider of ICT product and solutions
		165, Dharmapala Mawatha, Colombo 7
e.	Principal Place of Business	Sri Lanka Phone : (00 94 11) 2462222/ 2685555 Fax : (00 94 11) 2697854 E-Mail: info@dmslanka2.com Web Site: http://www.dms-2.com/
f.	Employees	500 Approximately

Company Details

a.	Registration No	PVS 4744
	Date of Registration	1976
b.	Re-registration No	PV 19042
	Date of Re-registration	3^rd August 2010
c.	Registered Office	# 221/5, Dharmapala Mawatha, Colombo 07, Sri Lanka.
d.	Factory office	165, Dharmapala Mawatha, Colombo 07, Sri Lanka
e.	Director Board / Ownership As At 11^th August 2017	Ruwan Tissa Nilkamal Ranatunga	Director
		Krishnaswami Rajendran	Director
		Dr. Janek Tissa Dharmasiri Ranatunga	Director
		Udaya Sampath Kosgallana	Director
		Prathap Gevard Navesh Fernando	Director
		Karunanayake Athukoralage Hemasiri Kumara	Director
f.	Stated Share Capital	LKR 7,500,000.00
g.	No. of Shares	400,000
h.	Preferential Shares	NA
i.	Nominal Value of Share	NA
j.	Auditors	Ernst & Young # 201, De Saram Place, Colombo 10, Sri Lanka.
k.	Company Secretaries	Ranatunga Sinha Tissa Migara # 14, Nimalka Gardens, Colombo 03, Sri Lanka.
l.	Main Bank/s	Bank of ceylon
m.	Exporter of	Product – ICT Software Country – Middle east, Ireland, Maldives, Bangladesh, Seychelles USA
n.	Importer of	Product - ICT Equipment Country – Singapore, India, China, Europ
o.	Trading terms	Purchasing terms - L/C, Cheque, T.T Sales terms - L/C, Cheque, T.T

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	DMS Holding (Pvt) Ltd	100,000
2.	Ruwan Tissa Nilkamal Ranatunga	210,312
3.	Ranatunga Rolaud Tissa- Deceased Ranatunga Sinha Tissa Migara (Trustees)	89,688

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

· History.

The subject company was initially formed on TBC under PVS 4744 under the Companies Act of Sri Lanka. The subject company was subsequently Re-registered on 03^rdAugust 2010 under PV 19042 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

Caption

Established in 1977, Data Management Systems (Pvt) Ltd, DMS, has consistently introduced cutting-edge technology to Sri Lanka and today supports a mega base of clients in the Government, Commercial, Multinational and Banking sectors, enjoying an unparalleled reputation for high quality support services that makes a positive impact on the operations and profitability of these institutions. DMS pioneered the sale of turnkey solutions in the late 70's and early 80's and has transferred many new technologies to Sri Lanka.

DMS Division 2 sells and supports Diebold Nixdorf ATMs in Sri Lanka, the Republic of Maldives and Bangladesh while also supporting Diebold Nixdorf ATMs in the Seychelles. DMS is also the Enterprise Solutions Provider for Entrust Datacard USA in Sri Lanka and the Republic of Maldives. The Cheque and document handling solutions from Panini of Italy are currently provided by DMS in Sri Lanka.

· Operational Details.

General

The subject company which started as a Turnkey solutions provider is one of the main companies which provides ICT solutions to many business sectors in the Island. The company is partners or associated with many of the main IT brands such as Microsoft, IBM, Oracle, Hp etc.. the company is doing well in its industry segment with many other solutions providers in the market.

Products & Services

ICT Products and Services

Employees

500 Approximately

Export Countries

Middle east, Ireland, Maldives, Bangladesh, Seychelles, USA

Import Countries

Singapore, India, China, Europe

Associate / Subsidiary Companies

DMS Software Engineering (Pvt) Ltd

DMS - EU

DMS Software Technologies (Pvt) Ltd

Factory / Warehouse and Sales Outlets

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Ruwan Tissa Nilkamal Ranatunga
ID Number	482361757V
Nationality	Sri Lankan
Gender	Male
Date of Birth	23.08.1948
Age	69
Address	# 03, Queens Avenue, Colombo 03, Sri Lanka.
Director 2
ITEM	DETAIL
Name	Krishnaswami Rajendran
ID Number	551780651V
Nationality	Sri Lankan
Gender	Male
Date of Birth	26.06.2018
Age	62
Address	# 81/4, Rosemead Place, Colombo 07, Sri Lanka.

Director 3
ITEM	DETAIL
Name	Dr. Janek Tissa Dharmasiri Ranatunga
ID Number	521822511V
Nationality	Sri Lankan
Gender	Male
Date of Birth	30.06.1952
Age	65
Address	# 14, Nimalka Gardens, Colombo 03, Sri Lanka.

Director 4

ITEM	DETAIL
Name	Udaya Sampath Kosgallana
ID Number	650340345V
Nationality	Sri Lankan
Gender	Male
Date of Birth	03.02.1965
Age	53
Address	# 276/3,Old Road, Dalugama, Kelaniya, Sri Lanka.
Director 5
ITEM	DETAIL
Name	Prathap Gevard Navesh Fernando
ID Number	570580353V
Nationality	Sri Lankan
Gender	Male
Date of Birth	27.02.1957
Age	60
Address	# 12/6, Spathodea Avenue, Colombo 05, Sri Lanka.
Director 6
ITEM	DETAIL
Name	Karunanayake Athukoralage Hemasiri Kumara Karunaanayake
ID Number	620320056V
Nationality	Sri Lankan
Gender	Male
Date of Birth	01.02.1962
Age	56
Address	# 494, Devalapitiya Road, Naiwala, Veyangoda, Sri Lanka.

INFORMATION PARTED BY

Name :	Karunanayake Athukoralage Hemasiri Kumara
Designation :	Director
Contact No.:	(0009411-2462222)
Date :	21.02.2018

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.81
UK Pound	1	INR 90.66
Euro	1	INR 79.94
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	PNM

Analysis Done by :	PRI

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)

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