MIRA INFORM REPORT

Report Date :

13.03.2008

IDENTIFICATION DETAILS

Name :	N B FOODS (PVT) LTD
Registered Office :	# 108, Sea Street, Colombo 11
Country :	Sri Lanka
Date of Incorporation :	26.02.2001
Com. Reg. No.:	N (PVS) 27962
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and Distributor of Essential Commodities.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

GENERAL - Basic information at a glance

Name of Subject of Inquiry	:	N B FOODS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In operation)
Managing Director	:	Mr. Wijitha U. Senaviratne.
Primary Line of Business	:	Importer and Distributor of essential commodities.
Head Office & Place of Business	:	# 152, 4^th Cross Street, Colombo 11. Tel. No: (00 94 11) 232 0675 Fax No: (00 94 11) 243 7802
No. of Employees	:	-Not Disclosed-

COMPANY DETAILS - Registration and Shareholder Details

Registration No		:	N (PVS) 27962
Date of Registration		:	26^th February 2001
Registered Office		:	# 108, Sea Street, Colombo 11.
Board Of Directors As At 14^th October 2007		:	Wijitha U. Senavirathna.	Managing Director
			M.K. Sena Senaratne.	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 31^st December 2006		:	Share Holders	No of Shears
			Wijitha U. Senavirathna.	01
			M.K. Sena Senaratne.	01
Secretaries	:		G .R.S. Management & Secretarial Services (Pvt) Ltd.
Auditors	:		K.K. Gnanenthiran Associates
Bankers		:	-Not Disclosed-

FINANCIAL DETAILS - Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

CURRENT INVESTIGATION

· History.

The Subject Company N B FOODS (PVT) LTD is a Private Limited liability Company incorporated in 26^th February 2001..

· Location.

The Subject Company is located at the client given address # 152, 4^th Cross Street, Colombo 11.

· Operations Details.

General

The subject company primary line of business is Importer and Distributor of essential commodities.

Products

Dahl , potatoes , onions and Sugar

Country

Mainly India & Pakistan.

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