MIRA INFORM REPORT

Report Date :

19.03.2011

IDENTIFICATION DETAILS

Name :	LUCKY HARDWARE STORES

Registered Office :	# 161, Mahavidyalaya Mawatha, Colombo 13

Country :	Sri Lanka

Date of Incorporation :	Not Available

Com. Reg. No.:	Not Available

Legal Form :	Partnership Concern

Line of Business :	Importers, Whole sale Dealers & Distributors of General Hardware

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 :	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 – 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 parted by

Management non- cooperative: Name not Disclosed

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	LUCKY HARDWARE STORES
Legal Form & Status	:	Partnership Concern (In Operation)
Managing Partner	:	Sathiesh
Primary Line of Business	:	Importers , Whole sale Dealers & Distributors of General Hardware
Office & Place of Business	:	# 161, Mahavidyalaya Mawatha, Colombo 11. Sri Lanka Tel No: (00 94 11) 232 5094/ 243 9629 Fax No: (00 94 11) 233 8940
No. of Employees	:	Approximately 10

COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	Not Disclosed
Date of Registration	:	Not Disclosed
Registered Office	:	# 161, Mahavidyalaya Mawatha, Colombo 13. Sri Lanka
Partners	:	Sathiesh	Managing Partner
Auditors	:	Not disclosed
Company Secretaries	:	Not applicable
Bankers	:	Not disclosed

CURRENT INVESTIGATION

HISTORY:

The Subject Company LUCKY HARDWARE STORES is a Partnership Company in operation at the client given address.

The Proprietorship/ Partnership companies are being registered at the Provincial Registrar of Companies and when the owner does not provide the registration details it is not possible to extract such details from the Registrar’s office.

Location:

The subject company is located at the client given address # 161.Mahavidyalaya Mawatha, Colombo 13. Sri Lanka, a premier business area in the Colombo city.

OPERATIONAL DETAILS:

General:

The subject company’ primary line of business is Importing and distribution of General Hardware and Non-ferrous metal.

Products:

All kind of Hardware and non ferrous metal – brass, brass shets, aluminium copper

Importing Countries:

India, China, Taiwan

Employees:

Approxmitaley10

Financial Data:

The Company has declined to provide information on its Finances.

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 promoters 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.45.09
UK Pound	1	Rs.72.82
Euro	1	Rs.63.43

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 parted by

GENERAL- Basic information at a glance

COMPANY DETAILS- Registration and Shareholder Details

CURRENT INVESTIGATION

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