MIRA INFORM REPORT

Report Date :

27.09.2011

IDENTIFICATION DETAILS

Name :	BANDA MEAL INDUSTRIES (PVT) LTD
Registered Office :	#.549, Sri Sangaraja Mawatha,Colombo-10
Country :	Sri Lanka
Date of Incorporation :	07.04.1986
Com. Reg. No.:	PV 1213
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture, Exporter & Supplier of all kinds of aluminium wires

RATING & COMMENTS

MIRA’s Rating :

B

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Sri Lanka	a2	a2

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	:	BANDA MEAL INDUSTRIES (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Managing Director	:	Mudalihamy Punchibanda Dissanayake
Primary Line of Business	:	Manufacture, Exporter & Supplier of all kinds of aluminium wires.
Head office & Place of Business	:	#.549, Sri Sangaraja Mawatha, Colombo-10, Sri Lanka. Tel. No: (00 94 11) 232 6893 Fax No: (00 94 11) 232 6893 Email: sales@wpunchibanda.com
No. of Employees	:	Not Disclosed

COMPANY DETAILS- Registration and Shareholder Details

Registration No	:	N(PVS) 2529
Date of Registration		07^th April 1986
Re-registration No	:	PV 1213
Date of Re-registration		29^th November 2007
Registered Office	:	#.549, Sri Sangaraja Mawatha,Colombo-10
Board of Directors As at 31st December 2010	:	Mudalihamy Punchibanda Dissanayake	Managing Director
		Kamala Kumari Dissanayake	Director
		Ujitha Bandara Dissanayake	Director
		Indukantha Bandara Dissanayake	Director
		Pabasara Kumari Dissanayake	Director
		Y. Kanchana Bandara Dissanayake	Director
Issued Share Capital	:	Rs. 1,700,000.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As at 31st December 2010	:	Share Holders		No. of Shares
		Mudalihamy Punchibanda Dissanayake		38,750
		Kamala Kumari Dissanayake		36,250
		Ujitha Bandara Dissanayake		31,250
		Indukantha Bandara Dissanayake		31,250
		Y. Kanchana Bandara Dissanayake		31,250
		Pabasara Kumari Dissanayake		1,250
Auditors	:	Elizinn & Company
Company Secretaries	:	Financial Consultants & Allied Services (Pvt) Ltd
Bankers	:	Not Disclosed

CURRENT INVESTIGATION

· History

The Subject Company BANDA MEAL INDUSTRIES (PVT) LTD is a Private Limited liability Company incorporated on 07^th April 1986 under registration number N (PVS) 2529 and then the company was re-registered on 29^th November 2007 under registration number PV 1213.

· Location.

The subject company is located at client given address #.549, Sri Sangaraja Mawatha, Colombo-10

· Operational Details.

General

The subject company primary line of business is Manufacture, Exporter & Supplier of all kinds of aluminium wires.

Products

Wires, Cables

Country

India, China

Employees

Not Disclosed

· Directors Details

01)

Name	Mudalihamy Punchibanda Dissanayake
ID Number	421703442 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	18th June 1942
Age	69 Years

02)

Name	Kamala Kumari Dissanayake
ID Number	447490889 V
Nationality	Sri Lankan
Gender	Female
Date Of Birth	5^th September 1944
Age	67 Years

03)

Name	Ujitha Bandara Dissanayake
ID Number	710312028 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	30th January 1971
Age	40 Years

04)

Name	Indukantha Bandara Dissanayake
ID Number	740772929 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	17^th March 1974
Age	37 Years

05)

Name	Pabasara Kumari Dissanayake
ID Number	67040700 V
Nationality	Sri Lankan
Gender	Female
Date Of Birth	22nd July 1967
Age	44 Years

06)

Name	Y. Kanchana Bandara Dissanayake
ID Number	802340745 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	21^st August 1980
Age	31 Years

· Financial Data

The company has declined to provide information on its finances

· General Comments

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

· 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.

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.62
UK Pound	1	Rs.76.68
Euro	1	Rs.66.47

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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