MIRA INFORM REPORT

Report Date :

06.04.2011

IDENTIFICATION DETAILS

Name :	SLEEPY TIME (PVT) LIMITED
Registered Office :	# 33/23, Hekitta Lane, Hekitta Road, Wattala
Country :	Sri Lanka
Financials (as on) :	31.03.2010
Date of Incorporation :	05.03.2007
Com. Reg. No.:	PV 16804
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture & Distributor of Bedlinen Products

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Sri Lanka	b1	b1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

information parted by

(General Details)

Name : Mr. L. M. Mihan

Designation : Director

Date : 06.04.2011

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	SLEEPY TIME (PVT) LIMITED
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Ambikaibalan Thangavel
Primary Line of Business	:	Manufacture & Distributor of Bedlinen Products
Head Office & Place of Business	:	# 15/1A, Duplication Road, Colombo-04 Sri Lanka Tel. No: (00 94 11) 250 8500 Fax No: (00 94 11) 255 3882 E Mail: info@sleepytime.lk / mihan@sleepytime.lk Location: Owned
No. of Employees	:	Approximately 50

COMPANY DETAILS-Registration and Shareholder Details

Registration No	:	N (PVS) 49786
Date of Registration	:	05^th March 2007
Re-registration No	:	PV 16804
Date of Re-registration	:	12^th November 2009
Registered Office / Factory	:	# 33/23, Hekitta Lane, Hekitta Road, Wattala Tel. No: (00 94 11) 298 1681 Fax No: (00 94 11) 536 0500
Board of Directors As At 19^th March 2008	:	Ambikaibalan Thangavel	Managing Director
		Ambikaibalan Fathima Shameema	Director
		L.M. Mihan Hassen	Director
Issued Share Capital	:	Rs. 30.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 19^th March 2008		Share Holders		No. of Shares
		Ambikaibalan Thangavel		01
		Ambikaibalan Fathima Shameema		01
		L.M. Mihan Hassen		01
Auditors	:	H.T. Peiris & Company
Company Secretaries	:	HTP Business Services (Pvt) Ltd
Bankers	:	Bank of Ceylon, Narahenpita Manager Branch Cash Credit : LKR 2.000 millions

CURRENT INVESTIGATION

· History.

The Subject Company SLEEPY TIME (PVT) LIMITED is a Private Limited Liability Company incorporated on 05^th March 2007 under the registration number N (PVS) 49786 and then re- registered under the registration number PV 16804 on 12^th November 2009.

· Location.

The Subject Company Registered Office located at client given address # 33/23, Hekitta Lane, Hekitta Road, Wattala, The Subject Company Head Office Located at 15-1A, duplication Road, Colombo-04.

· Operations Details.

General

The subject company’s primary line of business is Manufacture & Distributor of Bedlinen Products.

Products

Bed linen, Bed Covering, Baby linen, Polyster Fiber, Curtaining, Pillow, Bed Sheets, Cushion Covers

Exporters of Bedlinen Products

Country: Maldives

Importers of Raw Materials

Country China

No of Employees

Approximately 50

Trading Terms:

Selling terms : Cash, Credit (30-90 Days)

Purchasing Terms : Cash, Credit (30-90 Days)

· Information of Directors

1)

Name	Ambikaibalan Thangavel
Gender	Male
Nationality	Sri Lankan
National ID No.	683261297X
Date of Birth	21^st November 1968
Age	42 Years
Address	13/2-A, Rupasinghe Road, Nedimala, Dehiwela

2)

Name	Ambikaibalan Fathima Shameema
Gender	Female
Nationality	Sri Lankan
National ID No.	727572163V
Date of Birth	13^th September 1972
Age	38 Years
Address	13/2-A, Rupasinghe Road, Nedimala, Dehiwela.

3)

Name	L.M. Mihan Hassen
Gender	Male
Nationality	Sri Lankan
National ID No.	662130028V
Date of Birth	30^th July 1966
Age	44 Years
Address	41/10-A, Wijitha Road, Nedimala, Dehiwela
Mobile No.:	(00 94 77) 3063418

Types of Customers:

· Wholesalers

· Retailers

· End Users

· OEM’s

· Financial Data

(Amount in Srilankan Rs. Millions)

Particulars	31.03.2010	31.03.2009
Sales Turnover	45.000	40.000

Expected Sales (2010-11): Srilankan Rs.60 000 millions (Expected)

· Trade references

The subject company did not provide any trade references

· 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.44.45
UK Pound	1	Rs.71.59
Euro	1	Rs.63.01

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	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

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.