MIRA INFORM REPORT

Report Date :

02.12.2011

IDENTIFICATION DETAILS

Name :	GOLDEN LANKA IMPORTS (PVT) LTD
Registered Office :	Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11
Country :	Sri Lanka
Financials (as on) :	31.03.2011
Year of Establishment :	2009
Com. Reg. No.:	PV 72223
Legal Form :	Private Limited Liability Company
Line of Business :	Import and Distribution of all kind of Foodstuff
No. of Employees :	5 Persons

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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Sri Lanka	b1	b1

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

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	GOLDEN LANKA IMPORTS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Murugesu Vijayakanth
Primary Line of Business	:	Import and Distribution of all kind of Foodstuff
Head office & Place of Business	:	Golden Plaza, #.130,2/8, 2nd Floor Main Street, Colombo-11, Sri Lanka. Tel. / Fax. No: (00 94 11) 232 1786 E-Mail : infomk@sltnet.lk Locaruion : Owned
Warehouse	:	143, Maliban Street, Colombo
No. of Employees	:	5 Persons

COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	PV 72223
Year of Establishment :	:	2009
Date of Registration		07^th May 2010
Registered Office	:	Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11
Warehouse	:	143, Maliban Street, Colombo
Board of Directors As at 02nd June 2010	:	Murugesu Vijayakanth	Managing Director
		Marimuttu Murugesu	Director
		Manokanth Murugesu	Director
		R.A.M. Riaz Shahid	Director
		M.I.R. Muhammed Riaz Shahid	Director
Issued Share Capital	:	Rs. 60.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As at 02nd June 2010	:	Share Holders		No. of Shares
		Murugesu Vijayakanth		02
		Marimuttu Murugesu		02
		Manokanth Murugesu		02
Auditors	:	Mr. Velu Chartered Accountants
Company Secretaries	:	Marimuttu Murugesu
Bankers	:	Bank of Ceylon, Colombo Branch
Trading Terms :	:	Purchasing Terms: L/C, Cash, Credit (30 Days) Selling Terms : Cash, Credit (30 Days)
Types of Customers	:	· End Users · Retailers · Wholesaler

Information Parted By:

Name : Mr. Murugesu Vijayakanth

Designation : Managing Director

Mobile No. : (00 94) 773411471

Date : 01.12.2011

CURRENT INVESTIGATION

· History

The Subject Company GOLDEN LANKA IMPORTS (PVT) LTD is a Private Limited liability Company incorporated on 07^th may 2010 under registration number PV 72223.

· Location.

The subject company is located at client given address Golden Plaza, #.130,2/8, 2nd Floor, Main Street, Colombo-11.

· Operational Details.

General

The subject company primary line of business is Import and Distribution of Foodstuff.

Products

Tea, Rubber, Coconut, Coir products, Spices, Milk foods...etc

Country

India, China

Importers of

Products: Foodstuff

Country: Malaysia, Singapore, India, Pakistan

Employees

5 Persons

· Directors Details

01)

Name	Murugesu Vijayakanth
ID Number	813641542 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	29th December 1981
Age	29 Years
Mobile No.:	(00 94) 773411471

02)

Name	Marimuttu Murugesu
ID Number	472542958 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	10^th September 1947
Age	64 Years

03)

Name	Manokanth Murugesu
ID Number	900712731 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	11th March 1990
Age	21 Years

04)

Name	R.A.M. Riaz Shahid
PP Number	TM 1155951
Nationality	Pakistan

05)

Name	R.A.M. Riaz Shahid
PP Number	AS 9913531
Nationality	Pakistan

Financial Data

(Amt. In LKR Millions)

Particulars	31.03.2011	31.03.2010
Sales Turnover	80.000	80.000

· General Comments

When the Subject Company was contacted they were polite in providing the basic information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

· 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.51.65
UK Pound	1	Rs.81.06
Euro	1	Rs.69.51

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
----	NB	New Business	----

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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