MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Name :	BASILUR TEA EXPORT (PVT) LTD
Registered Office :	# 143/6 A, Weediyabandara Mawatha, Kelanimulla, Angoda
Country :	Sri Lanka
Financials (as on) :	31.03.2011
Date of Incorporation :	10.07.2008
Com. Reg. No.:	PV 64769
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Exporters of tea in bags, tea packages
No. of Employees :	80 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	a2	a2

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

Name of Subject of Inquiry	:	BASILUR TEA EXPORT (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Gamini Abeywickrama
Primary Line of Business	:	Manufacture and Exporters of tea in bags, tea packages
Place of Business	:	# 143/6, Weediyabandara Mawatha, Kelanimulla, Angoda, Sri Lanka Tel: (00 94 11) 254 9500 / 254 9600 Fax: (00 94 11) 254 9444 E-mail:- info@basilurtea.com marketing@basilurtea.com manjula@basilutea.com Web www.basilurtea.com Location : Owned
No. of Employees	:	80 persons (60 in Office & 20 in Factory)

GENERAL - Basic information at a glance
COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	PV 64769
Date of Registration	:	10th July 2008
Registered Office	:	# 143/6 A, Weediyabandara Mawatha, Kelanimulla, Angoda.
Board of Directors As at 13th January 2011	:	Gamini Abeywickrama		Managing Director
		A.C.A. Thushari Nandika		Director
Issued Share Capital	:	Rs. 1,500,000.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As at 13th January 2011	:	Share Holders	No. Of. Shares
		Gamini Abeywickrama	75,000
		A.C.A. Thushari Nandika	75,000
Auditors	:	Tudor V. Perera & Company
Company Secretaries	:	Financial Consultants and Allied Services Ltd
Bankers	:	Bank Of Ceylon, Colombo Branch
Exporters	:	Country : Germany, Australia , Russian Countries
Trading Terms	:	Purchasing Terms : L/C, Cash, Credit (30 days) Selling Terms : L/C, Cash, Credit (30 days)
Types of customers	:	· Retailers · End Users · Wholesalers

CURRENT INVESTIGATION

Company Logo

· History.

The Subject Company BASILUR TEA EXPORT (PVT) LTD is a Private Limited Liability Company incorporated on 10th July 2008 under registration number PV 64769.

The subject company BASILUR TEA EXPORT (PVT) LTD is a subsidiary company of the Basilur Tea Company (Pvt) Ltd.

· Location.

The Subject Company is located at the client given address # 143/6 A, Weediyabandara Mawatha, Kelanimulla, Angoda

· Operational Details.

General

The subject company primary line of business is Manufacture and Exporters of tea in bags, tea packages.

The subject company has certified ISO and HACCP.

Brands

Basilur, Tipson

Products

Black Tea, Flavoured Tea, Green Tea, Herbal Tea, Ice Tea

Export Countries

Russia, USA, China, Germany, Korea, Australia, Newzeland

No of Employees

80 persons (60 in Office & 20 in Factory)

· Director Details

01)

Name	A.C.A. Thushari Nandika
ID Number	716630315V
Nationality	Sri Lankan
Gender	Female
Date of Birth	11th June 1971
Age	39 Years
Address	#.7C, Barnes Place, Residencies, Barnes Place, Colombo-07

02)

Name	Gamini Abeywickrama
ID Number	641250929 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	04th May 1964
Age	47 Years

· Financial Data

(Amt. In LKR Millions)

Particulars	31.03.2011	31.03.2010
Sales Turnover	250.000	76.000

Expected Sales (2011-2012):- 500 LKR Millions

Information Parted By:

Name : Ms. Manjula

Designation : Account Manager

Mobile No. : (00 94 11) 2549500

Date : 09.12.2011

· General Comments

When we contacted the subject company and they were refused and provide basic details prepared this report.

· 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.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

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