MIRA INFORM REPORT

Report Date :

04.09.2007

IDENTIFICATION DETAILS

Name :	COLOMBO GROCERIES COMPANY (PVT) LTD

Registered Office :	# 52, 4^th Cross Street, Colombo – 11

Country :	Sri Lanka

Date of Incorporation :	03^rd September 2003

Com. Reg. No.:	N (PVS) 34952

Legal Form :	Private Limited Liability Company

Line of Business :	Importer and Wholesaler of Commodity items.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Undetermined

Payment Behaviour :	Unknown

Litigation :	Unknown

GENERAL - Basic information at a glance

Name of Subject of Inquiry	:	COLOMBO GROCERIES COMPANY (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Mr. G.P.Visvanathan Subramaniam
Primary Line of Business	:	Importer and Wholesaler of Commodity items
Head office	:	# 361,Grandpass, Colombo – 14 Tel. No: (00 94 11) 239 9501 Fax No: (00 94 11) 247 0143 E-Mail:gvmani@ureaka.lk
Place of Business	:	# 52 , 4^Th Cross Street, Colombo – 11 Tel. No: (00 94 11) 239 9501 Fax No: (00 94 11) 247 0143 E-Mail:gvmani@ureaka.lk
No. of Employees	:	Not Disclosed

COMPANY DETAILS - Registration and

Shareholder Details

Registration No	:	N (PVS) 34952
Date of Registration	:	03^rd September 2003
Registered Office	:	# 52,4^th Cross Street, Colombo – 11
Board of Directors As At 03^rd September 2003	:	Mr. G.P.Visvanathan Subramaniam	Managing Director
		Mr. G.Pillai Visvanathan	Director
Authorised Share Capital	:	Rs. 1,000,000.00
Issued Share Capital	:	Rs 20.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 03^rd September 2003	:	Share Holders		No. of Shares
		G.Pillai Visvanathan		01
		G.P.Visvanathan Subramaniam		01
Auditors	:	G.P.Visvanathan
Company Secretaries	:	Not Disclosed
Bankers	:	Not Disclosed

CURRENT INVESTIGATION

History

The Subject Company is COLOMBO GROCERIES COMPANY (PVT) LTD a Private Limited liability Company incorporated in 03^rd September 2003.

The client given subject company name COLOMBO GROCERIES (PVT) LTD is incorrect and the correct company name should be read as COLOMBO GROCERIES COMPANY (PVT) LTD located at client given address.

Location

The Subject Company head office is located at # 361,Grandpass ,Colombo – 14 and the place of business is located at client given address # 52,4^th Cross Street, Colombo – 11.

Operational Details

General

The subject company primary line of business is Importer and Wholesaler of Commodity items.

Products

All types of commodities items.

Country

- Not Disclosed-

Employees

- Not Disclosed-

Financial Data

The company has declined to provide information on its finances

General Comments

The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from non-formal sources but clearly originating from the company.

Trade references

The subject company did not provide any trade reference referrals

Credit Recommendations

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

No computerised data bases exist to make checks whether the partners 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.

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.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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