MIRA INFORM REPORT

Report Date :

23.12.2011

IDENTIFICATION DETAILS

Name :	D. R. MANUFACTURING CO (PVT) LTD

Registered Office :	No. 26 Mile Post Kandy Road Nittambuwa

Country :	Sri Lanka

Financials (as on) :	31.03.2011

Date of Incorporation :	13.02.2003

Com. Reg. No.:	N (PVS) 32948

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Manufacture and Import of all kind of furniture

No. of Employees :	Approximately 4000 (Group 6000)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Sri Lanka

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	:	D. R. MANUFACTURING CO (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	R. P. Damitha Ramanayake
Primary Line of Business	:	Manufacture and Import of all kind of furniture
Place of Business	:	No. 26 Mile Post Kandy Road Nittambuwa, Sri Lanka Tel. No: (00 94 33) 229 9000 / 228 5339 Fax No: (00 94 33) 228 5449 Email: marketing@damro.lk arosh@damro.lk Web Site: www.damro.lk Location: Owned
Head office	:	# 361, Kandy Road, Nittambuwa, Sri Lanka.
No. of Employees	:	Approximately 4000 (Group 6000)

COMPANY DETAILS

- Registration and Shareholder Details

Registration No	:	N (PVS) 32948
Date of Registration	:	13^th February 2003
Re-registration No	:	PV 8512
Date of Re-registration	:	24^th October 2008
Registered Office	:	26^th Mile Post, Kandy Road, Nittambuwa, Sri Lanka
Board of Directors As At 14^th October 2010	:	R.P. Damitha Ramanayake	Managing Director
		W.A. Arosha Gamage	Director
		Damayanthi Ramanayake	Director
Issued Share Capital	:	LKR. 100,000,000.00
Nominal Value of Share	:	LKR. 10.00
Share Holders As At 14^th October 2010	:	Share Holders		No. of Shares
		R. P. Damitha Ramanayake		9,000,000
		Damayanthi Ramanayake		1,000,000
Auditors	:	W. S. kiruparathnam and Company
Company Secretaries	:	Mansec Services (Pvt) Ltd
Bankers	:	Sampath Bank PLC Selan Bank PLC DFCC Bank

FINANCIAL DETAILS

– Most recent available Financial Information

THE COMPANY HAS TO PROVIDE INFORMATION ON ITS FINANCES

31.03.2011

31.03.2010

Sales Turnover

(Approximately)

LKR 9 Billions

LKR 7 Billions

Information parted by

Name : Mr. Arosha

Designation : Accounts Department

Contact : 094 – 0777278253

Date : 22.12.2011

CURRENT INVESTIGATION

· History.

The Subject Company D. R. MANUFACTURING CO (PVT) LTD is a Private Limited liability Company incorporated on 13^th February 2003 under registration number N (PVS) 32948 and then the company was re-registered on 24^th October 2008 under registration number PV 8512.

· Location.

The Subject Company is located at # 361, Kandy Road, Nittambuwa, Sri Lanka. The client given addres 26^th Mile Post, Kandy Road, Nittambuwa, Sri Lanka is the registered address of the Subject Company.

· Operational Details.

General

The subject company primary line of business is Manufacture and Importer of all kind of furniture.

Manufacturing Products

All kind of Furnitures such as Cup borads, Tables, Mattress, Sofas..etc

Import Countries

India, Australia

No of Employees

Approximately 4000 (Group 6000)

· Directors Details

Name	R. P. Damitha Ramanayake
ID Number	620671088 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	07th March 1962
Age	49 Years

Name	W. A. Arosha Asanga
ID Number	712822171 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	8^th October 1971
Age	39 Years

Name	Damayanthi Ramanayake
ID Number	636881058 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	6^th July 1963
Age	48 Years

· Financial Data

The company has to provide information on its finances

· General Comments

The subject company when contacted provided basic Details to prepare 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 notindicate any such cases in the public knowledge.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.78
UK Pound	1	Rs.82.73
Euro	1	Rs.68.88

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.