MIRA INFORM REPORT

Report Date :

24.11.2008

IDENTIFICATION DETAILS

Name :	NEMSUJI (PVT) LTD
Registered Office :	# 100/ 1 A, Kandy Road, Nittambuwa
Country :	Sri Lanka
Date of Incorporation :	13.11. 2000
Com. Reg. No.:	N (PVS) 27331
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter of Scrape Iron and Steel and also Manufacture of PVC items

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	:	NEMSUJI (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In operation)
Managing Director	:	Mr. Paththini Arachchige Anil
Primary Line of Business	:	Exporter of Scrape Iron and steel and also Manufacture of PVC items
Head Office & Place of Business	:	# 85 A, Kandy Road, Nittambuwa. Tel. No: (00 94 33) 229 3888 Fax No: (00 94 33) 229 3889 / 228 9851
No. of Employees	:	Approximately 175

COMPANY DETAILS - Registration and Shareholder Details

Registration No		:	N (PVS) 27331
Date of Registration		:	13^th November 2000
Registered Office		:	# 100/ 1 A, Kandy Road, Nittambuwa
Board Of Directors As At 30^th January 2008		:	Mr. Paththini Arachchige Anil.	Managing Director
			Mrs. Ranasinghe Arachchige Shyama Ranasinghe.	Director
Authorised Share Capital		:	Rs. 4,500,000.00
Issued Share Capital		:	Rs. 20.00
Nominal Value of Share		:	Rs. 10.00
Share Holders As At 30^th January 2008		:	Share Holders	No of Shears
			Mr. Paththini Arachchige Anil.	01
			Mrs. Ranasinghe Arachchige Shyama Ranasinghe	01
Secretaries	:		A & A Associates (Pvt) Ltd.
Auditors	:		Jayasinghe Company
Bankers		:	Seylan Bank, Commercial Bank

FINANCIAL DETAILS

Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Current investigation

· History.

The Subject Company NEMSUJI (PVT) LTD is a Private Limited liability Company incorporated in 13^th November 2000

· Location.

The Subject Company registered at the client given address # 100/ 1A, Kandy Road, Nittambuwa.

· Operations Details.

General

The subject company primary line of business is an Importer, Stockist and supplier of Pipeline Valves, Control Systems, Pipes & Fittings also Boiler Tubes distributed to dealers inland wide.

The subject company having 17 branches; 6 branches in Colombo and the balance 11 located at various parts of the island

Products

Manufacture of hardware items, building material, power tools, and electrical items, PVC Pipes & Fittings PE Water Tanks

Country

China, Thailand

Employees

The total strength of employees in the group was stated as 175

· Financial Data

The company has declined to provide information on its finances

· 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.50.09
UK Pound	1	Rs.74.90
Euro	1	Rs.63.40

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