MIRA INFORM REPORT

Report Date :

05.10.2011

IDENTIFICATION DETAILS

Name :	FORBES AND WALKER FINE FOODS (PVT) LTD

Registered Office :	No.436/8, Nawam Mawatha, Colombo – 2

Country :	Sri Lanka

Date of Incorporation :	14.06.1985

Com. Reg. No.:	PV 3820

Legal Form :	Private Limited Liability Company

Line of Business :	Commodity Brokering (Tea, Rubber, Spices), Leisure, Warehousing and export of agricultural products

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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	:	FORBES AND WALKER FINE FOODS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In operation)
Managing Director	:	Upali Chandrakumara Bandaranayake
Primary Line of Business	:	Engaged in commodity brokering (tea, rubber, spices), leisure, warehousing and export of agricultural products
Head Office & Place of Business	:	No.436/8 Nawam Mawatha, Colombo – 2, Sri Lanka Tel. No: (00 94 11) 232 7961 / 243 9372 Fax No: (00 94 11) 242 3284 / 243 7147 E-mail: marketing@forbeswalker.com info@forbesfinefoods.com
No. of Employees	:	Approximately 350

COMPANY DETAILS- Registration and Shareholder Details

Registration No		:	N (PVS) 1913
Date of Registration		:	14^th June 1985
Re-registration No		:	PV 3820
Date of Re-registration		:	16^th May 2008
Registered Office		:	No.46/38, Nawam Mawatha, Colombo - 2
Board Of Directors As At 6^th July 2011		:	Upali Chandrakumara Bandaranayake	Managing Director
			Yashan Michael Eranjan Fernando	Director
			A. I. Shardha Sosa	Director
			B. Tissa Prathapasinghe	Director
Issued Share Capital		:	Rs. 15,000,000.00
Nominal Value of Share		:	Rs. 10.00
Share Holders As At 6^th July 2011		:	Share Holders	No of Shears
			Forbes and Walker (Pvt) Ltd	1,499,999
			Forbes and Walker Commodity Brokers (Pvt) Ltd	01
Secretaries	:		L. H. R. Chamani Dilhani
Auditors	:		KPMG Ford Rhodes Thornton and Company
Bankers		:	Peoples Bank

CURRENT INVESTIGATION

· History.

The Subject Company FORBES AND WALKER FINE FOODS (PVT) LTD is a Private Limited liability Company incorporated on 14^th June 1985 under registration number N (PVS) 1913 and then the company was re-registered on 16^th may 2008 under registration number PV 3820.

· Location.

The Subject Company is located at the client given address Forbes and Walker Building, No.46/38, Nawam Mawatha, Colombo – 2.

· Operations Details.

General

The subject company primary line of business is engaged in commodity brokering (tea, rubber, spices), leisure, warehousing and export of agricultural products

Products

o Gherkins in natural vinegar with Kosher Dill Flavor

o Gherkins in natural vinegar: Sweet & Sour recipe

o Gherkins in natural vinegar: Sweet Pickle recipe

o Gherkins in natural vinegar with Tarragon Flavor

o Gherkins in Berlinski recipe

o Baby corn in natural vinegar

o Jalapeno pepper in natural vinegar

o Glass jars of 370ml, 500ml, 720ml and 1415ml

o Grades of fruit (applicable for gherkins only) : 1-4cm, 3-6cm, 6-9cm, 9-12cm

Export Countries

North & South America, Europe, USA and Japan

Employees

Approximately 350

Director Details

Name	Upali Chandrakumara Bandaranayake
ID Number	533211992 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th November 1953
Age	58 Years

Name	Yashan Michael Eranjan Fernando
ID Number	611701101 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18^th June 1961
Age	50 Years

Name	A. I. Shardha Sosa
ID Number	672740665 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	30^th September 1967
Age	44 Years

Name	B. Tissa Prathapasinghe
ID Number	590640379 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	4^th March 1959
Age	52 Years

· Financial Data

The company has declined to provide information on its finances

· General Comments

The subject company when contacted provided basic information of the company to prepare this report, but they refused provide its financial information.

· 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.49.23
UK Pound	1	Rs.76.07
Euro	1	Rs.65.06

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.

GENERAL- Basic information at a glance

COMPANY DETAILS- Registration and Shareholder Details

Secretaries

:

CURRENT INVESTIGATION

Unit