MIRA INFORM REPORT

Report Date :

20.07.2011

IDENTIFICATION DETAILS

Correct Name :	NAWAKRAMA (PVT) LIMITED
Registered Office :	No. 35/1/1, Devanampiyatissa Mawatha, Colombo-10
Country :	Sri Lanka
Date of Incorporation :	10.01.1986
Com. Reg. No.:	PV 1145
Legal Form :	Private Limited Liability Company
Line of Business :	Importers and Distributors of Pharmaceuticals, Surgical & medical diagnostics

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 :	Unknown
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
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	:	NAWAKRAMA (PVT) LIMITED
Legal Form & Status	:	Private Limited Liability Company (In operation)
Chairman	:	Jayantha Dharmadasa
Primary Line of Business	:	Importers and Distributors of Pharmaceuticals, Surgical & medical diagnostics.
Head Office & Place of Business	:	# 55, Negombo Road, Peliyagoda, Sri Lanka. Tel. No: (00 94 11) 534 4444 / 291 3911 Fax No: (00 94 11) 534 4400 / 291 3910 E-mail: pharma@nawakrama.com nawak@slt.lk nkpl@slt.lk
No. of Employees	:	Approximately 250

Bottom of Form

COMPANY DETAILS- Registration and Shareholder Details

Registration No		:	N (PVS) 2341
Date of Registration			10^th January 1986
Re-registration No		:	PV 1145
Date of Re-registration			27^thNovember 2007
Registered Office		:	No. 35/1/1, Devanampiyatissa Mawatha, Colombo-10, Sri Lanka
Board Of Directors As At 14^th October, 2010		:	Jayantha Dharmadasa	Chairman
			Ugitha Harshith Dharmadasa	CEO/Director
			Chamitha Sreeni Dharmadasa	Director
Issued Share Capital		:	Rs. 25,000,000.00
Nominal Value of Share		:	Rs. 10.00
Share Holders As At 14^th October, 2010		:	Share Holders	No of Shears
			Jayantha Dharmadasa	1,500,000
			Chamitha Sreeni Dharmadasa	500,000
			Ugitha Harshith Dharmadasa	500,000
Secretaries	:		Consultants & Corporate Secretaries (Pvt) Ltd
Auditors	:		Abeyrathne & Company
Bankers		:	Bank of Ceylon, Hatton National Bank, Peoples Bank

CURRENT INVESTIGATION

· History.

The Subject Company NAWAKRAMA (PVT) LTD is a Private Limited Liability Company incorporated on 10^th January 1986 under registration number N (PVS) 2341 and then company was re-registered on 27^th November 2007 under registration number PV 1145.

The subject company is associate company of the Nawaloka Group of Companies which is having 18 Associate & Subsidiary companies. Nawakrama (Pvt) Ltd established on 10^th January 1986 by Mr. Jayantha Dharmadasa, one of the leading businessmen in Sri Lanka, and his father is the Chairman of the Nawaloka Group.

Location.

The Subject Company is located at client given address No. 55, Negombo Road, Peliyagoda, a town adjoining Colombo city, and on the Colombo International Airport road.

· Operations Details.

General

The subject company’s primary line of business is Import and Distribution of Pharmaceuticals and surgical products.

Products

Pharmaceuticals, Medical Equipment, Diagnostics, Vaccines, Surgical Products, Dental Products, Insulation Materials and Waterproofing Products.

Import Countries

India, Thailand, Korea, Japan, Germany, Singapore, China, Sweden, France

No of Employees

Approximately 250

· Directors’ Details

1)

Name	Jayantha Dharmadasa
Nationality	Sri Lankan
ID Number	483122195 V
Gender	Male
Date of Birth	7^th November 1948
Age	62 Years
Address	No.7, Longdon Place, Colombo – 7

2)

Name	Chamitha Sreeni Dharmadasa
Nationality	Sri Lankan
ID Number	545220016 V
Gender	Male
Date of Birth	22^nd January 1954
Age	57 Years
Address	No.7, Longdon Place, Colombo – 7

3)

Name	Ugitha Harshith Dharmadasa
Nationality	Sri Lankan
ID Number	741191415 V
Gender	Male
Date of Birth	28^th April 1974
Age	37 Years
Address	No.7, Longdon Place, Colombo – 7

· Financial Data

The company has declined to provide information on its finance.

In Sri Lanka, Private Limited Liability/Proprietorship/Partnership Companies do not

publish their accounts for public use, other than the Shareholders.

· Trade references:

Sri Lanka Chamber of the Pharmaceutical Industry.

· 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.44.59
UK Pound	1	Rs.71.62
Euro	1	Rs.62.78

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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