MIRA INFORM REPORT

Report Date :

18.10.2008

IDENTIFICATION DETAILS

Name :	LANKALOHA HARDWARE LIMITED
Registered Office :	# 196, Kandy Road,Yakkala
Country :	Sri Lanka
Date of Incorporation :	05.11.1990
Com. Reg. No.:	N(PBS)/CGB 24
Legal Form :	Private Limited Liability Company
Line of Business :	Seller and Distributor of Hardware

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	:	LANKALOHA HARDWARE LIMITED
Legal Form & Status	:	Private Limited Liability Company (In operation)
Chairman	:	Dave Siriwardane
Primary Line of Business	:	Hardware Selling and Distributing
Head Office & Place of Business	:	# 196, Kandy Road, Yakkala Tel. No: (00 94 33) 2226010/ 2222153/ 2222154 Fax No: (00 94 33) 2226716 Email : info@davegroup.lk
No. of Employees	:	-Not Disclosed-

COMPANY DETAILS - Registration and Shareholder Details

Registration No		:	N(PBS)/CGB 24
Date of Registration		:	05^th November 1990
Registered Office		:	# 196, Kandy Road,Yakkala
Board Of Directors As At 30^th December 2004		:	Mr. Dave Siriwardane	Chairman
			Mrs. Munataz Siriwardena	Director
			M. M. A. G. Siriwardena	Director
			Arachchige Gunapala	Director
Authorised Share Capital		:	Rs. 200,000,000.00
Issued Share Capital		:	Rs. 75,000,000.00
Nominal Value of Share		:	Rs. 10.00
Share Holders As At 14^th November 2003		:	Share Holders	No of Shears
			Dave tractors Ltd	7,499,994
			S. Dave	01
			S. N. Munutaz	01
			S. M. M. A. Gunapala	01
			D. S. A. Don Chandrapala	01
			C. H. S. Sarath	01
			G. M. K. A. Sunil Ranjith	01
Secretaries	:		P. R. Secretarial Services Ltd
Auditors	:		Jayaweera & company
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 LANKALOHA HARDWARE LIMITED is a Private Limited liability Company incorporated in 05^th November 1990

Note: we can conform to you there is no company calls Lankaloha Mandwar Ltd,the company correct name is LANKALOHA HARDWARE LIMITED.

· Location.

The Subject Company is located at the client given address # 196, Kandy Road, Yakkala

· Operations Details.

General

The subject company primary line of business is Hardware Selling and Distributing

Products

All kinds of hard ware items

Country

China, India & Taiwan & Asian countries

Employees

-Not Disclosed-

· Financial Data

The company has declined to provide information on its finances

· General Comments

When we contact the Managing Director of the Subject Company responded well to our inquiries and provided background and financial information and as such all information in this report has been obtained 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.48.68
UK Pound	1	Rs.84.37
Euro	1	Rs.65.70

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