MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	NARAMMALA AUTO MOTORS (PVT) LTD
Registered Office :	Negombo Road, Ranmuthugala, Narammala
Country :	Sri Lanka
Financials (as on) :	31.03.2010
Date of Incorporation :	21.07.2008
Com. Reg. No.:	PV 64873
Legal Form :	Private Limited Liability Company
Line of Business :	Importer & Supplier of Vehicles and spare parts

RATING & COMMENTS

MIRA’s Rating :

Ba

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^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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	:	NARAMMALA AUTO MOTORS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	K.D. Edmand Antony Appuhamy
Primary Line of Business	:	Importer & Supplier of Vehicles and spare parts
Head office & Place of Business	:	Negombo Road, Ranmuthugala, Narammala, Sri Lanka. Tel. No: (00 94 37) 224 9254 / 491 7381 Fax No: (00 94 37) 224 8811 Email: nam@yahoo.com / dhanushkakiriella@yahoo.com Location: Owned
No. of Employees	:	10

COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	PV 64873
Date of Registration		21^st July 2008
Registered Office	:	Negombo Road,Ranmuthugala,Narammala
Board of Directors As at 14th October 2011	:	K.D. Edmand Antony Appuhamy	Managing Director
		K.D. Ajith Kumarasiri Appuhamy	Director
		K.D. Raminda Kiriella	Director
		K.D. Dhanushka Kiriella	Director
Issued Share Capital	:	Rs. 8,000,000.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As at 14th October 2011	:	Share Holders		No. of Shares
		K.D. Edmand Antony Appuhamy		200,000
		K.D. Ajith Kumarasiri Appuhamy		200,000
		K.D. Raminda Kiriella		200,000
		K.D. Dhanushka Kiriella		200,000
Auditors	:	I R Associates
Company Secretaries	:	K.D. Dhanushka Kiriella
Bankers	:	Bank of Ceylon, Narammala Branch
Importers	:	Products : Spare Parts Country : Japan, India
Trading Terms	:	Purchasing Terms : L/C, Cash, Credit (30-60 Days) Selling Terms : Cash, Credit (30-60 Days)
Types of Customers	:	Corporate

Information Parted By

Name: Mr. K.D. Dhanushka Kiriella

Designation: Director

Mobile No.: (00 9471) 8017074

Date: 22.11.2011

CURRENT INVESTIGATION

· History

The Subject Company NARAMMALA AUTO MOTORS (PVT) LTD is a Private Limited liability Company incorporated on 21^st July 2008under registration number PV 64873.

Subject company was started in 1971 as a Proprietorship Firm with the name of “Narammala Auto Motors’ then it converted into partnership Firm in 1995 with the same name and now in 2008 it converted into Private Limited company with the name of “Narammala Auto motors Private Limited”.

As claimed by Mr. K.D. Dhanushka Kiriella.

· Location.

The subject company is located at client given address Negombo Road, Ranmuthugala, Narammala.

· Operational Details.

General

The subject company primary line of business is

· Importer, Exporter & Supplier of hardware.

· Tractor Trailer Manufacturer and Importer of spare parts.

Products

Motor cycle, Tyre, Motor and Tractor engineering

Country

India, Japan

Employees

10 Person

· Directors Details

01)

Name	K.D. Edmand Antony Appuhamy
ID Number	422621385 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	18th September 1942
Age	69 Years

02)

Name	K.D. Ajith Kumarasiri Appuhamy
ID Number	712391812 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	26^th August 1971
Age	40 Years

03)

Name	K.D. Raminda Kiriella
ID Number	730041020 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	04th January 1973
Age	38 Years

04)

Name	K.D. Dhanushka Kiriella
ID Number	843481078 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	13^th December 1984
Age	27 Years

· General Comments

The subject company when contacted refuse and they provided some basic details to prepare this report and they declined to disclose any operational or financial information.

· Trade references

The subject company did not provide any trade reference referrals

· Credit Recommendations

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.

Financials

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.08

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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