MIRA INFORM REPORT

Report Date :

31.10.2008

IDENTIFICATION DETAILS

Name :	QUALITY FRUITS (PVT) LTD
Registered Office :	# 131/16, Orutota Road, Mudungoda
Country :	Sri Lanka
Date of Incorporation :	02.07.2003
Com. Reg. No.:	N (PVS) 34325
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Fresh Fruits and Vegetables for the Export & domestic Markets.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
Payment Behaviour :	No Complaints
Litigation :	Clear

GENERAL - Basic information at a glance

Name of Subject of Inquiry	:	QUALITY FRUITS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Dr. R. A. U. Chandra Ranasinghe
Primary Line of Business	:	Trading in Fresh Fruits and Vegetables for the Export & domestic Markets.
Head office & Place of Business	:	# 131/16, Orutota Road, Mudungoda, Tel. No: (00 94 33) 222 4961 Fax No: (00 94 33) 222 6863
No. of Employees	:	-Not Disclosed-

COMPANY DETAILS - Registration and Shareholder Details

Registration No	:	N (PVS) 34325
Date of Registration	:	2^nd July 2003
Registered Office	:	# 131/ 16, Orutota Road, Mudungoda.
Board of Directors As At 08^th July 2003	:	Dr. R.A.U.Chandra Ranasinghe	Managing Director
		Dr. M.A.K. Neetha Manthriratne	Director
Authorised Share Capital	:	Rs. 5,000,000.00
Issued Share Capital	:	Rs. 20.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 08^th July 2003	:	Share Holders		No. of Shares
		Dr. R. A. U. Chandra Ranasinghe		01
		Dr. M. A. K. Neetha Manthriratne		01
Auditors	:	-Not Appointed-
Company Secretaries	:	Nishani Priyangani Abeysinghe
Bankers	:	-Not Disclosed-

CURRENT INVESTIGATION

· History.

The Subject Company QUALITY FRUITS (PVT) LTD is a Private Limited Liability Company incorporated on 02^nd July 2003.

· Location.

The subject company is located at the client given address # 131/ 16, Orutota Road, Mudungoda.

· Operations Details.

General

The Subject Company QUALITY FRUITS (PVT) LTD, primary line of business is trading in Fresh Fruits and Vegetables for the Export & domestic Markets.

Products

Fruits and Vegetables

Country

-Not Disclosed-

Employees

-Not Disclosed-

· Financial Data

The company has declined to provide information on its finance.

· 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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.25
UK Pound	1	Rs.80.36
Euro	1	Rs.62.84

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