IDENTIFICATION DETAILS

Name :	HAMEED BROTHERS (COLOMBO) LTD

Registered Office :	No: 376, Grandpass Road, Colombo-14

Date of Incorporation :	14^th December 1967

Com. Reg. No.:	PVS 2631

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer & Exporter of Natural Rubbers, Technically specified rubber and also Millers of rubber

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	HAMEED BROTHERS (COLOMBO) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In operation)
c.	Managing Director	:	Mr. Mohamed Tufail Salie (Srilankan)
d.	Primary Line of Business	:	Commodity Traders
e.	Place of Business	:	# 376, Grandpass Road, Colombo -14 Tel. No: (00 94 11) 268 4274 / 234 5934 Fax No: (00 94 11) 233 5617
f.	No. Of Employees	:	Not Disclosed

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No		:	PVS 2631
b.	Date of Registration		:	14^th December 1967
c.	Registered Office		:	No: 376, Grandpass Road, Colombo-14
d.	Board Of Directors As At 08^th July 2005		:	Mr. Mohamed Tufail Salie (Srilankan)	Managing Director
				Mr. Mohamad Ruwise Salie (Srilankan)	Director
e.	Share Capital		:	Rs. 15,000,000.00
f.	Issued Share Capital		:	Rs. 7,500,000.00
g.	Nominal Value Of Share		:	Rs. 100.00
h.	Share Holder As At 12^th July 2005		:	Share Holder			No. of Shares In held
				Mohamed Tufail Salie (Sri Lankan)		40,634
				Mohamed Rizwie Salie (Sri Lankan)		4,333
				Mohamed Ruwise Salie (Sri Lankan)		30,033
i.	Auditors	:		T. Sivagurunathan and Company
j.	Company Secretaries	:		D E G Arulanantham

FINANCIAL DETAILS - Most recent available Financial Information

Hameed Brothers (Colombo) Ltd, being a Sri Lankan company, maintains accounts in Sri Lanka Rupees and the figures given below are in Sri Lanka Rupees. (US $ 1.00 = approx. SL Rs. 103.00)

			Year Ended 31^st March 2004 Rs’000	Year Ended 31^st March 2003 Rs’000
A	Revenue	:	319,471	204,221
B	Cost of Sales	:	(308,211)	(195,678)
C	Gross Profit	:	11,260	8,543
D	Other Operating Profit	:	4,251	2,911
E	Administration Cost	:	(5,949)	(5,105)
F	Distribution Cost	:	(3,879)	(2,347)
G	Finance & Other Cost	:	(1,338)	(1,004)
H	Net Profit / (Loss) before Tax	:	4,345	2,998
I	Taxation	:	(509)	(283)
J	Net Profit / (Loss) After Tax:	:	3,836	2,715

FINANCIAL DETAILS - Most recent available Financial Information (Cont/d….)

			As At 31-03-2004 Rs’000	As At 31-03-2003 Rs’000
a)	Non-current Assets	:	29,352	28,448
b)	Investment	:	NIL	NIL
c)	Current Assets	:	21,545	11,070
d)	Total Liabilities	:	43,135	35,570
e)	Total Assets	:	50,897	39,518
f)	Net Worth	:	7,762	3,948

CURRENT INVESTIGATION

The Subject Company, HAMEED BROTHERS (COLOMBO) LTD, was incorporated in 1967 as a private Limited Liability Company. The Subject Company is involved in commodity traders mainly involved in exporting Sri Lanka produce . The Subject Company is located at client given address at 376, Grandpass Road, Colombo 14.

The Subject Company HAMEED BROTHERS (COLOMBO) LTD is a Manufacturer & Exporter of Natural Rubbers, Technically specified rubber and also Millers of rubber.

The subject company HAMEED BROTHERS (COLOMBO) LTD has not refused to provide information to prepare this report but to date the requested information has not been provided. The company however, from the very outset, declined to disclose any financial information stating that it was company policy not to divulge it to non-bank institutions, and as such, all information in this report has been obtained from other sources.

No computerised data bases exist to make checks whether the promoters or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

The subject company did not provide any trade reference referrals either.

The Subject Company is not located within the tsunami-affected area and as such did not get affected by the tsunami that dealt a devastating blow to the country.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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