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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

505677

Report Date :

03.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

CEMENT MARKETING LANKA (PVT) LTD

 

 

Registered Office :

#111, Biyagama Road, Kelaniya

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

03.09.2012

 

 

Com. Reg. No.:

PV 88012

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importer and Distributor of Cement Related Products

 

 

No. of Employees :

20+ 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

 

NOTE

 

In absence of financials, no credit limit could be recommended.

 

 

Basic Information

 

a.

Name of Subject of Inquiry

CEMENT MARKETING LANKA (PVT) LTD

b.

Legal Form & Status

Private Limited Liability Company (In Operation)

c.

Chairman

Mr Ramaiah Ramanadan

d.

Primary Line of Business

Importer and Distributor of Cement Related Products

e.

Principal Place of Business

# 111, Biyagama Road, Kelaniya, Sri Lanka.

Sri Lanka.

Tel. No: (00 94 77) 3411397/ +94 11 2906342

Fax. No: (00 94 11) 2918630

E-Mail: info@cementmarketing.lk

Web Site: http://www.cementmarketing.lk/

f.

Employees

20+ Approximately

 

 

Company Details

 

a.

Registration No

PV 88012

 

Date of Registration

03rd September 2012

c.

Registered Office

#111, Biyagama Road, Kelaniya, Sri Lanka.

d.

Board of Directors As At

30th September 2016

Ramaiah Ramanadan

Director

 

 

Ushanandini Ramanadan

Director

e.

Issued Share Capital

LKR 2,000,020.00

f.

No. of Shares

200,002

g.

Preferential Shares

NA

h.

Nominal Value of Share

LKR 10.00

i.

Auditors

R.S.Nadarajah & Company

# 108, 3/3, Sea Street, Colombo 11, Sri Lanka.

j.

Company Secretaries

M.M. Management Services (Pvt) Ltd #9,3rd Floor, 3rd Lane, Colombo 06, Sri Lanka.

k.

Main Bank/s

NA

 

 

Shareholders

 

NO.

NAME

NUMBER OF SHARES

1.

Ramaiah Ramanadan

100,001

2.

Ramaiah Srikanthan

100,001

 

FINANCIAL DETAILS     

 

Most recent available Financial Information

 

NA

 

 

CURRENT INVESTIGATION

 

 

Company Logo

 

 

·         History.

 

The subject company was formed on 03rd September 2012 under PV 88012 under the ROC act of Sri Lanka.

 

 

·         Operational Details.

 

General

The subject company is an importer of Cement for distribution purposes in Sri Lanka. The Company mainly imports from India.

 

Products

Fly Ash

 

HITE POZZO R-12 HITE POZZO R-20 HITE POZZO R-34 HITE POZZO R-75

 

Employees

20+

 

Associate Companies

NA

 

 

Personal Details of Key Persons

 

The following information was found through the registrar of companies

 

Director 1

                   

ITEM

DETAIL

Name

Ramaiah Ramanadan

ID Number

603020421X

Nationality

Sri Lankan

Gender

Male

Date of Birth

28th October 1960

Age

57 Years

Address

#08, Kithsiri Mewanpura, Holebrooke, Agrapathana, Sri Lanka.

 

 

Director 2

ITEM

DETAIL

Name

Ushanandini Ramanadan

ID Number

 

746231768V

Nationality

Sri Lankan

Gender

 

Female

Date of Birth

02nd May 1974

Age

44 Years

Address

#08, Kithsiri Mewanpura, Holebrooke, Agrapathana, Sri Lanka.

 

 

INFORMATION DENIED

 

Management non-co-operative (00 94 77) 3411397/ 2906342

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.66

UK Pound

1

INR 90.66

Euro

1

INR 80.01

LKR

1

INR 0.42

                                                                  

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

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.