MIRA INFORM REPORT

Report No. :	507184
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	ZPMC LANKA COMPANY PRIVATE LIMITED

Registered Office :	Access Towers, # 278, Union Place, Colombo 02

Country :	Sri Lanka

Date of Incorporation :	01.08.2013

Com. Reg. No.:	PV 93576

Legal Form :	Private, Limited Liability Company (In Operation)

Line of Business :	Importer and Supplier of Port Heavy Machinery

No. of Employees :	80+ Approximately in sector

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	Slow but Correct

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

Company Profile

BASIC INFORMATION

a.	Name of Subject of Inquiry	ZPMC LANKA COMPANY PRIVATE LIMITED
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Managing Director	Mr Qingfeng Huang
d.	Primary Line of Business	Importer and Supplier of Port Heavy Machinery
e.	Principal Place of Business	Access Towers, # 278, Union Place, Colombo 02, Sri Lanka Phone : (00 94 11) 2302 332 Fax : (00 94 11) 2302 333 E-Mail: INFO@ZPMCLANKA.COM Web Site: http://zpmc.lk/
f.	Employees	80+ Approximately in sector

Company Details

a.	Registration No	PV 93576
	Date of Registration	01^st August 2013
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	Access Towers, # 278, Union Place, Colombo 02, Sri Lanka.
d.	Director Board / Ownership As At 12^th October 2017	Qingfeng Huang	Director
		Jiaqing Chen	Director
		Chenhao Li	Director
		Joshua Joseph Christopher	Director
		Munasinghe Saumaya Dharshana	Director
e.	Stated Share Capital	LKR 184,594,510.00
f.	No. of Shares	18,459,451
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	K P M G # 32 A, Sir Mohamed Macan Markar Mawatha,P O Box 186, Colombo, Sri Lanka.
j.	Company Secretaries	Secretarius (Pvt) Ltd # 40, Galle Face Court 02, Colombo 03, Sri Lanka.
k.	Main Bank/s	Bank of Ceylon Nation Trust Bank Plc

Shareholders

- NA

NO.

NAME

NUMBER OF SHARES

Shanghai Zhenhua Heavy Industries Company Ltd

12,912,907

Access Engineering PLC

5,546,544

FINANCIAL DETAILS

- Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

· HISTORY

The subject company was initially formed on 1^st AUGUST 2013 under PV 93576 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka. The subject company is a BOI listed entity with a JV partnership with Access Engineering PLC which is a Colombo stock exchange listed entity and a well reputed group in Sri Lanka into many diverse industry segments.

Caption

Shanghai Zhenhua Heavy Industry Company Limited called ZPMC is a world renowned heavy-duty equipment manufacturer and a state holding company listed in Shanghai Stock Exchange. The major shareholder is China Communication Construction Company Limited which is one of the top 500 companies in the world.

ZPMC headquarters located in Shanghai and has production bases located in Shanghai, Nantong, Jiangyin and Changxing. ZPMC supplied the large -size port container cranes over 76 counties and regions all over the world and occupied 75% world market share.

Access Engineering PLC is in the forefront of the engineering industry in Sri Lanka armed with some of the best talent from the industry which currently stands over 3,000 employees including over 150 engineering professionals, offering cutting-edge engineering solutions, complemented by a modern fleet of specialized machinery and equipment. Access Engineering, currently engaged in many significant and diversified projects by both local and foreign principals including the port sector. Assess Engineering PLC has been awarded the Overall Gold Award at the National Business Excellence Award 2013 organized by National Chamber of Commerce. The Access Group has been the sole representative of ZPMC in Sri Lanka since 2005 and has been successful in introducing ZPMC equipment to the Sri Lankan Market for a value of approximately USD 300 Million.

· OPERATIONAL DETAILS

General

ZPMC Lanka Company (Private) Limited is a Board of Investment of Sri Lanka approved company, established to provide services to the port sector of Sri Lanka and the region. It is a joint venture between Shanghai Zhenhua Heavy Industries Company Limited of People's Republic of china and Access Engineering PLC of Sri Lanka.

Currently ZPMC Lanka is providing its services to all the container terminals in Sri Lanka including maintenance contract for container handling equipments and facility maintenance for Colombo International Container Terminals (CICT), special repairs and spare parts supply for the South Asia Gateway Terminals (Pvt) Ltd of port of Colombo, Sri Lanka Ports Authority, King Abdullah Port of KSA, Gwadar International Container Terminals Ltd of Pakistan, Pakistan International Container Terminal of Pakistan and Qasim International Container Terminal of Pakistan

Products & Services

Port Heavy Equipment and servicing supplier

Employees

80+ Approximately

Export Countries

Import Countries

China

Associate / Subsidiary Companies

Shanghai Zhenhua Heavy Industries Company Ltd Access Engineering PLC

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Qingfeng Huang
ID Number	G22935681
Nationality	China
Gender	Male
Date of Birth	NA
Age	NA
Address	3261, Dong Fang Road, Shanghai P R China L/A
Director 2
ITEM	DETAIL
Name	Jiaqing Chen
ID Number	G29302339
Nationality	China
Gender	Male
Date of Birth	NA
Age	NA
Address	NA
Director 3
ITEM	DETAIL
Name	Chenhao Li
ID Number	G59716015
Nationality	China
Gender	Male
Date of Birth	NA
Age	NA
Address	NA
Director 4
ITEM	DETAIL
Name	Joshua Joseph Christopher
ID Number	651152755V
Nationality	Sri Lankan
Gender	Male
Date of Birth	24.04.1965
Age	53
Address	Access Towers, # 278, Union Place, Colombo 02, Sri Lanka.
Director 5
ITEM	DETAIL
Name	Munasinghe Saumaya Dharshana
ID Number	722942744V
Nationality	Sri Lankan
Gender	Male
Date of Birth	20.10.1972
Age	45
Address	Access Towers, # 278, Union Place, Colombo 02, Sri Lanka.

Information declined

MANAGEMENT NON CO-OPERATIVE

Contact No.: (009411) 2304666

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.62
UK Pound	1	INR 90.60
Euro	1	INR 79.86
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 :	NIT

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.