MIRA INFORM REPORT

Report No. :	506520
Report Date :	12.05.2018

IDENTIFICATION DETAILS

Name :	UNIKEN LANKA LIMITED
Registered Office :	#51 A , Sri Sangaraja Mawatha, Colombo 10
Country :	Sri Lanka
Date of Incorporation :	06.11.1996
Com. Reg. No.:	PB 1255
Legal Form :	Public Limited Liability Company (In Operation)
Line of Business :	Importing & Distributing of Chemicals, Water Treatment Chemicals.
No. of Employees :	50 Approximately

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	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	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

BASIC INFORMATION

a.	Name of Subject of Inquiry	UNIKEN LANKA LIMITED
b.	Legal Form & Status	Public Limited Liability Company (In Operation)
c.	Managing Director	Mr Seyed Ahamed Abdul Latheff
d.	Primary Line of Business	Importing & Distributing of Chemicals, Water Treatment Chemicals
e.	Principal Place of Business	#51A, Sri Sangaraja Mawatha, Colombo 10, Sri Lanka. Tel. No: (00 94 11) 2459747 / 2430995 / +94 77 777 6022 - Mr S A M Basik Fax. No: (00 94 11) 2436341 E-Mail : uniken@sltnet.lk Web Site: http://www.unikenlanka.com
f.	Employees	50 Approximately

Company Details

a.	Registration No	N(PBS)674
	Date of Registration	06^th November 1996
b.	Re-registration No	PB 1255
	Date of Re-registration	17^th December 2009
c.	Registered Office	#51 A , Sri Sangaraja Mawatha, Colombo 10, Sri Lanka.
d.	Board of Directors As At 31^st March 2016	Seyed Ahamed Abdul Latheff	Director
		Seyed Ahamed Mohamed Basik	Director
		Shahul Hameed Mohamed Uvais	Director
		Seyed Ahamed Lebbe Mohamed Useura	Director
		Mohamed Jawahir Mohamed Fouz	Director
e.	Issued Share Capital	LKR 27,019,290.00
f.	No. of Shares	2,701,929
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	A.A.Latiff & Company #486,Galle Road, Colombo 03,Sri Lanka.
j.	Company Secretaries	Mohamed Cassim Mohamed Nawas #24,Mahinda Place, Kirulapone, Colombo 06,Sri Lanka.
k.	Main Bank/s	Peoples Bank

Major Shareholders - 19

NO.	NAME	NUMBER OF SHARES
1.	Seyed Ahamed Abdul Latheff	415,312
2.	Seyed Ahamed Mohamed Basik	390,001
3.	Seyed Ahamed Lebbe Mohamed Husair	170,000
4.	Shahul Hameed Mohamed Uvais	51,888
5.	Mohamed Jawahir Mohamed Fouz	310,000
6.	Shamina Latheef	57,941
7.	Hafeela Shanaz Fouz	384,226
8.	Mohamed Mashood Mohamed Siraj	400,000
9.	D M Rohini Gunasekara	124,858

FINANCIAL DETAILS

- Most recent available Financial Information

NA

CURRENT INVESTIGATION

Company Logo

· HISTORY

The subject company was formed on 06^th November 1996 under N(PBS) 674 under the ROC act of Sri Lanka. The company was Re-registered on 17^th December 2009 under PB 1255 as per the 2007, mandatory Re-registration act for companies.

Caption

UNIKEN LANKA LTD. was incorporated in 1996 as a limited liability company by a group of shareholders with esteemed profile, to fulfill the increasing market demand of Industrial chemicals and related products. UNIKEN LANKA LTD. has become a major force in the industrial chemical market, due to its team of abled management and the dedicated service of the experienced staff over the years.

We take pride on being able to satisfy our customers with competitive prices, consistent quality of the products and timely services throughout our long journey in this field.

In 2013 UNIKEN LANKA LTD. took a major step towards diversification and expansion by venturing into,

· Water Treatment Chemicals

· Water Treatment Plants

· Water Treatment and Testing Equipment

The diversification move was executed at the right time by UNIKEN LANKA LTD. with the technically qualified staff headed by a water treatment specialist possessing decades of experience who is a well-known personality in the relevant field.

· OPERATIONAL DETAILS

General

Uniken Lanka Ltd, is a reputed chemical dealers in Sri Lanka catering to the needs of many government departments, private sector and BOI companies since its inception. The company deal with import and supply of Industrial Chemicals, Specialty Chemicals, Cleaning Chemicals, Boiler Water Treatment Chemicals, Cooling Water Treatment Chemicals, Waste Water Treatment Chemicals and Plants, Raw Water Treatment Chemicals, RO Plants, Pre Treatment Plants, Waste Water Treatment Plants, etc.

Products

· Water Treatment Chemicals

· Water Treatment Plants

· Water Treatment and Testing Equipment

· Food & Beverage Chemicals

· Homecare and Personal care Chemicals

· Paper Industry Chemicals

· Swimming Pool Treatment and AC Cleaning chemicals

· Other Chemicals

Employees

50 Approximately

Associate Companies

NA

Associated Brands

Personal Details of Key Persons

The following information was found through the registrar of companies:

Director 1
ITEM	DETAIL
Name	Seyed Ahamed Abdul Latheff
ID Number	561552010V
Nationality	Sri Lankan
Gender	Male
Date of Birth	03^rd June 1956
Age	60
Address	# 47 A,Walauwa King's Court, Kahawatte, Ambatenna, Sri Lanka
Director 2
ITEM	DETAIL
Name	Seyed Ahamed Mohamed Basik
ID Number	663661299V
Nationality	Sri Lankan
Gender	Male
Date of Birth	31^st December 1966
Age	50
Address	# 8 A, De Alwis Avenue, Kalubowila, Dehiwela, Sri Lanka.
Director 3
ITEM	DETAIL
Name	Shahul Hameed Mohamed Uvais
ID Number	582790965V
Nationality	Sri Lankan
Gender	Male
Date of Birth	05^th October 1958
Age	58
Address	#128, Heeressagala, Kandy, Sri Lanka.
Director 4
ITEM	DETAIL
Name	Seyed Ahamed Lebbe Mohamed Useura
ID Number	643401240V
Nationality	Sri Lankan
Gender	Male
Date of Birth	05^th December 1964
Age	52
Address	# 159/3, Pangollamada, Akurana, Sri Lanka.
Director 5
ITEM	DETAIL
Name	Mohamed Jawahir Mohamed Fouz
ID Number	581791313V
Nationality	Sri Lankan
Gender	Male
Date of Birth	27^th June 1958
Age	58
Address	# 20A, School Avenue, Kalubowila, Dehiwela, Sri Lanka.

Information Declined

MANAGEMENT NON CO-OPERATIVE

Contact No.: (00 94 11-2430995)/ (+94 77 777 6022)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09
LKR	1	INR 0.43

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

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	PRI
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)

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.