MIRA INFORM REPORT

 

 

Report No. :

495790

Report Date :

12.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PHARMATECH (PVT) LTD

 

 

Registered Office :

# 439, Thalawathugoda Road, Kotte

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

03.08.2011

 

 

Com. Reg. No.:

PV 80443

 

 

Legal Form :

Private, Limited Liability Company (In Operation)

 

 

Line of Business :

Importers and Suppliers of Pharmaceutical Items

 

 

No. of Employees :

Not Available

 

 

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

 

Name of Subject of Inquiry

PHARMATECH (PVT) LTD

Legal Form & Status

Private, Limited Liability Company (In Operation)

Chairman

Mr. Dhammika Kodippili

Primary Line of Business

Importers and Suppliers of Pharmaceutical Items

Principal Place of Business

# 45A, Cemetry Road, Thalapathpitiya Nugegoda Phone : (00 94 11) 2836844/4 506535

Fax : (00 94 11) TBC E-Mail: TBC

Web Site: NA

SLMC Reg No of the Pharmacist: 5256 Retail Licence Number : W008846

Employees

TBC

 

 

Company details

 

Registration No

PV 80443

Date of Registration

03rd August 2011

Re-registration No

NA

Date of Re-registration

NA

Registered Office

# 439, Thalawathugoda Road, Kotte, Sri Lanka.

Director Board / Ownership As At

14th October 2017

Dhammika Kodippili

Director

Noel Samudra Perera

Director

Stanislaus Antony Gomez

Director

Stated Share Capital

NA

No. of Shares

02

Preferential Shares

NA

Nominal Value of Share

NA

Auditors

T & D Associates

# 36, Light House Street, Fort, Galle, Sri Lanka.

Company Secretaries

T & D Management Consultants (Pvt) Ltd

1st Floor, Y M B A Building, Fort, Galle, Sri Lanka.

Main Bank/s

TBC

 

 

Shareholders

 

NA

 

 

 

NO.

NAME

NUMBER OF SHARES

1.

Dhammika Kodippili

01

2.

Noel Samudra Perera

01

 

 

Financial details

 

Most recent available Financial Information

 

 

CURRENT INVESTIGATION

 

NA

 

Company Logo

 

History

The subject company was initially formed on 03rd August 2011 under PV 80443 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

 

Operational Details

 

General

·         The subject company is a new entrant to the booming Pharmaceutical market in Sri Lanka.

·         The company imports and supply’s Pharmaceutical products to the local market.

 

Products & Services

Pharmaceutical Products

 

Employees

Approximately

 

Export Countries

NA

 

Import Countries

Pakistan, India

 

Associate / Subsidiary Companies

NA

 

Factory / Warehouse and Sales Outlets

Owned

 

Personal Details of Key Persons

 

Director 1

 

ITEM

DETAIL

 

Name

Dhammika Kodippili

ID Number

661263318V

Nationality

Sri Lankan

Gender

Male

Date of Birth

05.05.1966

Age

51

Address

# 601/72 L, Airport Road, Thammannakulama,

Anuradhapura, Sri Lanka.

 

 

Director 2

 

ITEM

DETAIL

 

Name

Noel Samudra Perera

ID Number

681580859V

Nationality

Sri Lankan

Gender

Male

Date of Birth

06.06.1968

Age

49

Address

# 45 A, Mahindarama Road, Athul Kotte, Sri

Jayawardenapura, Sri Lanka.

 

 

Director 3

 

ITEM

DETAIL

 

Name

Stanislaus Antony Gomez

ID Number

723221528V

Nationality

Sri Lankan

Gender

Male

Date of Birth

07.11.1972

Age

45

Address

# 246/16, Hill Crest Estate, Madapatha, Piliyandala, Sri

Lanka.

 

 

INFORMATION DENIED

 

Management non-co-operative [0094-11-2836844]

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.07

UK Pound

1

INR 89.85

Euro

1

INR 80.16

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 :

TPT

 

 

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.