MIRA INFORM REPORT

Report Date :

03.08.2011

IDENTIFICATION DETAILS

Name :	WIJAYA PRODUCTS (PVT) LTD

Registered Office :	Thudugoda Junction, Dodangoda, Kautara

Country :	Sri Lanka

Financials (as on) :	31.03.2011

Date of Incorporation :	20.09.2000

Com. Reg. No.:	N (PVS) 26966

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacture, Distributor, Exporter & Marketing of Spices & Condiment 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

a.	Name of Subject of Inquiry	:	WIJAYA PRODUCTS (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Chairmen	:	Aruna Wijayaratne Kothalawala
d.	Primary Line of Business	:	Manufacture, Distributor, Exporter & Marketing of Spices & Condiment Products
e.	Head office & Place of Business & Factory	:	Thudugoda Junction, Dodangoda, Kautara, Sri Lanka. Tel. No: (00 94 34) 228 0092 / 228 0093 / 228 0286 Fax No: (00 94 34) 228 0285 Email: wijayaproducts@sltnet.lk ankothalawala@sltnet.lk Area : 4 Acres Location : Owned
f.	No. of Employees	:	Approximately 500

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	N (PVS) 26966
	Date of Registration		20^th September 2000
b.	Re-registration No		PV 9625
	Date of Re-registration		24^th November 2008
c.	Registered Office	:	Thudugoda Junction, Dodangoda,Kautara
d.	Board of Directors As at 31^st December 2010	:	Aruna Wijayaratne Kothalawala	Chairmen
			Nirmala Wijayarathne Kothalawala	Director
			Priyani Edirisinghe	Director
			S. Priyangani Hettiarachchi	Director
e.	Issued Share Capital	:	LKR.40.00
f.	Nominal Value of Share	:	LKR.10.00
g.	Share Holders As at 31^st December 2010	:	Share Holders		No. of Shares
			Aruna Wijayaratne Kothalawala		01
			Nirmala Wijayarathne Kothalawala		01
			Priyani Edirisinghe		01
			S. Priyangani Hettiarachchi		01
h.	Auditors	:	Thangavelu & Company
i.	Company Secretaries	:	M S L Galle (Pvt) Ltd
k.	Bankers	:	Commercial Bank Seylan Bank Nation Development Bank Sampath Bank Peoples Bank

information parted by

Name: Madam Himali Senevirathne

Designation: Accountant

Date: 02.09.2011

FINANCIAL DETAILS

Most recent available Financial Information

31.03.2010

(LKR in Millions)

31.03.2011

(LKR in Millions)

Sales Turnover

452

510

CURRENT INVESTIGATION

Company Logo

History

The Subject Company WIJAYA PRODUCTS (PVT) LTD is a Private Limited liability Company incorporated on 20^th September 2000 under registration number N (PVS) 26966 and then the company was re-registered on 24^th November 2008 under registration number PV 9625.

Location.

The Subject company is located at client given address Thudugoda Junction, Dodangoda, Kalutara.

Operational Details.

General

The subject company primary line of business is Manufacture, Distributor, Exporter & Marketing of Spices & Condiment Products.

Products

Spices, Flour, Paste, Coffee, Tea, Salt

Country

Japan, South Korea, Maldives, Australia, New Zeland, Cyprus, Italy, England

Exports

They do Indirect Exports

Imports

Products:

Machines and Raw Material (Spices)

Countries:

India, China and Some European Countries

Trading Terms

Purchasing:

L/C, cash, Credit, Advance TT

Selling:

Cash, credit

Type of Customers

Dealers, Distributors

Employees

Approximately 500

Directors Details

Name	Aruna Wijayaratne Kothalawala
ID Number	631610196 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	9th June 1963
Age	48 Years

Name	Nirmala Wijayarathne Kothalawala
ID Number	652730540 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	29^th September 1965
Age	45 Years

Name	Priyani Edirisinghe
ID Number	665230880 V
Nationality	Sri Lankan
Gender	Female
Date Of Birth	23rd January 1966
Age	45 Years

Name	S. Priyangani Hettiarachchi
ID Number	698232404 V
Nationality	Sri Lankan
Gender	Female
Date Of Birth	18^th November 1969
Age	41 Years

Financial Data

The company has provide information on its finances

General Comments

The subject company when contacted provided all basic details to prepare this report.

Trade references

Shakti Exports, India
Ghanam Imports, Sri Lanka (Colombo)

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.45.89
UK Pound	1	Rs.74.31
Euro	1	Rs.64.41

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