MIRA INFORM REPORT

Report Date :

17.03.2011

IDENTIFICATION DETAILS

Name :	WIJEYA NEWSPAPERS LTD

Registered Office :	# 4, Hunupitiya Cross Road, Colombo – 02

Country :	Sri Lanka

Date of Incorporation :	22.11.1979

Com. Reg. No.:	PB 20

Legal Form :	Public limited liability Company (In Operation) not listed with Colombo Stock Exchange

Line of Business :	Publisher of Newspapers and Magazines

RATING & COMMENTS

MIRA’s Rating :

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

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

information denied by

Name : Ms. Dharni

Designation : Commercial Manager

Date : 16.03.2011

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	WIJEYA NEWSPAPERS LTD
Legal Form & Status	:	Public limited liability Company (In Operation) not listed with Colombo Stock Exchange
Chairman / CEO / MD	:	Ranjith Sujiva Wijewardene
Primary Line of Business	:	Publisher of Newspapers and Magazines
Head office & Place of Business		# 4, Hunupitiya Cross Road, Colombo – 02, Sri Lanka. Tel. No: (00 94 11) 231 4864 / 231 4652 / 230 7789 / 231 4714 Fax No: (00 94 11) 244 8323 / 245 9725 E-mail: wnlgen@wijeya.lk
No. of Employees	:	Approximately 1000

COMPANY DETAILS-Registration and Shareholder Details

Registration No	:	PVS 6148
Date of Registration	:	22^nd November 1979
Re-registration No	:	PB 20
Date of Re-registration	:	31^st July 2007
Registered Office	:	# 4,Hunupitiya Cross Road,Colombo – 02
Board of Directors As at 14th October 2010		Ranjith Sujiva Wijewardene	Managing Director
		Sirisena Ranasinghe	Director
		S. D. Kamal Chandralal Jayawardana	Director
		P. Sujan Wijewardene	Director
Issued Share Capital	:	Rs. 3,500,050.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As at 14th October 2010	:	Share Holders		No. of Shares
		A. Balasingham		10
		Sarathi Ltd		10
		Irushi Neela Wijewardene		10
		Dinendra Ruwan Wijewardene		10
		Ranjith Sujiva Wijewardene		3,499,990
		Ranjani Neela Wijewardene		10
		P. Sujan Wijewardene		10
Auditors	:	Solomon De Silva Moorthy & Co
Company Secretaries	:	D.V. Gunathumga
Bankers	:	NDB, Bank of Ceylon, Nation Trust Bank, DFCC

CURRENT INVESTIGATION

· History.

The Subject Company WIJEYA NEWSPAPERS LTD is a Public Limited Liability Company (not listed with Colombo Stock Exchange) incorporated on 22^nd November 1979 under registration number PVS 6148 and then company was re-registered on 31^st July 2007 under registration number PB 20.

The Client given Company name is Wijeya Newspapers ltd it name is now changing new name is Wijeya Publications ltd. This Company name is changing the two times. Wijeya Newspapers (pvt) ltd, changing18^th August 1993 and then Wijeya Newspapers ltd Changing Date 31^st May 1995.

· Location.

The Subject Company is located at client given address # 4, Hunupitiya Cross Road, Colombo – 02

· Operational Details.

General

The subject company primary line of business is Publisher of Newspapers and Magazines. In addition to the normal activities of a publisher it handles import, export and local sale of various types of printing paper.

Products

News Papers, New Print, Printing Paper

Export Country

South East Asia

No of Employees

Approximately 1000

· Directors Details

01)

Name	S. D. Kamal Chandralal Jayawardana
ID Number	513062150 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	01^st November 1951
Age	59 Years
Address	No. ½, Priya Avenue, Kohuwela

02)

Name	Sirisena Ranasinghe
ID Number	401982116 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th July 1940
Age	70 Years
Address	No.132A, Nawala Road, Rajagiriya

03)

Name	P. Sujan Wijewardene
ID Number	691082610 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	17^th April 1969
Age	41 Years
Address	No.99, Braybrooke Place, Colombo – 02

04)

Name	Ranjith Sujiva Wijewardene
ID Number	371821503 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	30^th June 1937
Age	73 Years
Address	No.99, Braybrooke Place, Colombo – 02

· 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 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.45.18
UK Pound	1	Rs.72.59
Euro	1	Rs.63.13

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%)

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.

information denied by

GENERAL- Basic information at a glance

COMPANY DETAILS-Registration and Shareholder Details

CURRENT INVESTIGATION

Unit