MIRA INFORM REPORT

Report Date :

14.04.2011

IDENTIFICATION DETAILS

Name :	M D GUNASENA & COMPANY LIMITED
Registered Office :	#.217,Olcott Mawatha,Colombo-11
Country :	Sri Lanka
Date of Incorporation :	18.12.1945
Com. Reg. No.:	PV 8212
Legal Form :	Private Limited Liability Company
Line of Business :	Printing and Book sell

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	a2	a2

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. M.D. Rajiv Gunasena

Designation : director

Date : 13.04.2011

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	M D GUNASENA & COMPANY LIMITED
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Chairman	:	M.D. Percy Gunasena
Primary Line of Business	:	Printing and Book sell
Head office & Place of Business	:	#.217, Olcott Mawatha, Colombo-11, Sri Lanka. Tel. No: (00 94 11) 232 3981-4 Fax No: (00 94 11) 232 3336 E-Mail : headoffice@mdgunasena.com Website: www.mdgunasena.com Location: owned Area: 3000 sq.fts (Approximately)
No. of Employees	:	Approximately 100

COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	PVS 296
Date of Registration	:	18th December 1945
Re-registration No	:	PV 8212
Date of Re-registration	:	16th October 2008
Registered Office	:	#.217,Olcott Mawatha,Colombo-11
Board of Directors As At 25th March 2011	:	M.D. Percy Gunasena	Chairman
		M.D. Ananda Gunasena	Director
		M.D. Rajiv Gunasena	Director
		M.D. Chandra Tennekoon	Director
		M.D. Himali Senanayake	Director
		M.D. Santha Ravindri Tennekoon	Director
Issued Share Capital	:	Rs. 10,000.00
Nominal Value of Share	:	Rs. 100.00
Major Share Holders As At 25th March 2011	:	Share Holders		No. of Shares
		M.D. Gunasena Corporation Limited		6,450
		M.D. Percy Gunasena		650
		M.D. Ananda Gunasena		600
		M.D. Chandra Tennekoon		200
		M.D. Himali Senanayake		200
		M.D. Santha Ravindri Tennekoon		100
		M.D. Prian Gunasena		387
Auditors	:	B.R. De Silva and Company, Colombo
Company Secretaries	:	C. Uditha Indrani Jayaweera Bandara
Bankers	:	Bank of Ceylon, Colombo

CURRENT INVESTIGATION

· History.

The Subject Company M D GUNASENA AND COMPANY LIMITED is a Private Limited liability Company incorporated on 18^th December 1945 under registration number PVS 296 and then the company was re-registered on 16^th October 2008 under registration number PV 8212. The Subject Company Name Was Changed M D Gunasena and Company (Private) Limited in terms of Companies Act #7 of 2007.

M D GUNASENA AND COMPANY LIMITED is a Publisher, Printer and Bookseller based in Sri Lanka. The Company was established in 1913 and today has become the market leader with 17 Retail outlets and 50 franchise agents. Island wide. Ever since its inception in 9 decades ago they have sought to widen the boundaries of knowledge and education Sri Lanka. M D GUNASENA AND COMPANY LIMITED is the leading bookseller in Sri Lanka. They currently operate twenty bookshops strategically located to better serve island wide customer base. All bookstores feature commitment, to provide a better service to customers, together with an in-depth selection and a comfortable environment conducive to reading. They are open seven days a week and all stores carry a wide selection of books, audio CDs, DVDs/videos, toys, magazines and stationery. On 1st February 2010 they launched online bookstore, to reach customers across the globe.

· Location.

The Head Office of the Subject Company is located at the client given address #.217, Olcott Mawatha, Colombo-11.

· Operational Details.

General

The subject company primary line of business is Printing and Book sell

Products

Books, Magazine, Stationery Printed tags, printed boxes, printed leaflets, printed stickers, display units, printed cards, printed label…etc  

No of Employees

Approximately 100

· Directors Details

01)

Name	M.D. Percy Gunasena
ID Number	330230185V
Nationality	Sri Lankan
Gender	Male
Date of Birth	23rd January 1933
Age	78 Years
Address	110/15, Cumaratunga Munidasa Mawatha, Colombo-03

02)

Name	M.D. Ananda Gunasena
ID Number	413070155 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	2nd November 1941
Age	70 Years
Address	110/9, Cumaratunga Munidasa Mawatha, Colombo-03

03)

Name	M.D. Rajiv Gunasena
ID Number	690342812V
Nationality	Sri Lankan
Gender	Male
Date of Birth	3rd February 1969
Age	42 Years
Address	110/9, Cumaratunga Munidasa Mawatha, Colombo-03

04)

Name	M.D. Chandra Tennekoon
ID Number	395061666V
Nationality	Sri Lankan
Gender	Male
Date of Birth	6th January 1939
Age	72 Years
Address	110/7, Cumaratunga Munidasa Mawatha, Colombo-03

05)

Name	M.D. Himali Senanayake
Nationality	Sri Lankan
Gender	Female
Address	110/5, Cumaratunga Munidasa Mawatha, Colombo-03

06)

Name	M.D. Santha Ravindri Tennekoon
ID Number	546102661V
Nationality	Sri Lankan
Gender	Female
Date of Birth	19th April 1954
Age	56Years
Address	76, Cumaratunga Munidasa Mawatha, Colombo-03

· Trading Terms

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

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

· 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 ansy 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.44.48
UK Pound	1	Rs.72.37
Euro	1	Rs.64.42

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.