MIRA INFORM REPORT

Report Date :

10.08.2012

IDENTIFICATION DETAILS

Name :	EXPOLANKA COMMODITIES (PVT) LIMITED

Registered Office :	# 11A, Milepost Avenue, Colombo-03

Country :	Sri Lanka

Date of Incorporation :	04.04.1990

Com. Reg. No.:	PV 2104

Legal Form :	Private Limited Liability Company

Line of Business :	Importers and Trader of Agricultural & Other products

No. of Employees :	50 (Approximately)

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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	:	EXPOLANKA COMMODITIES (PVT) LIMITED
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	Saffar Kassim
d.	Primary Line of Business	:	Importers and Trader of Agricultural & Other products
e.	Head office & Place of Business	:	# 11A, Milepost Avenue, Colombo-03, Sri Lanka. Tel. No: (00 94 11)257 3290/ 257 5579/ 257 6586 Fax No: (00 94 11)257 4046 E-Mail: expocom@expolanka.com riyazsalih@expolanka.com hamzeth@expolanka.com Website: www.expolanka.com
f.	No. of Employees	:	Approximately 50

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	N(PVS) 6310
	Date of Registration	:	4^th April 1990
b.	Re-registration No		PV 2104
	Date of re-registration		28^th January 2008
c.	Registered Office	:	#10, Milepost Avenue, Colombo-03
d.	Board of Directors As At 05^th October 2011	:	Sattar Kassim		Managing Director
			Shafik Kassim		Director
			Hanif Yusoof		Director
f.	Issued Share Capital	:	Rs. 75,000,010.00
g.	Nominal Value of Share	:	Rs. 10.00
h.	Share Holders As At 05^th October 2011	:	Share Holders	No. of Shares
			Expo Lanka Holdings Plc	7,500,001
i.	Auditors	:	Ernst and Yong
j.	Company Secretaries	:	Consuitans & Corporate Secretaries (Pvt) Limited
k.	Type of Customers	:	End Users
l.	Bankers	:	· Commercial Bank · Pan Asia Bank · Standard Chartered Bank
m.	Sister Concern	:	Expolanka Freight

INFORMATION PARTED BY

Name :	Mr. Hamzeth
Designation :	Accountant
Contact No.:	00-94-11-2573290
Date :	08.08.2012

FINANCIAL DETAILS

Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

CURRENT INVESTIGATION

· History.

The Subject Company EXPOLANKA COMMODITIES (PRIVATE) LIMITED is a Private Limited liability Company incorporated on 04^th April 1990 under registration number N (PVS) 6310 and then the company was re-registered on 28^th January 2008 under registration number PV 2104.

· Location.

The Subject Company is located at 11A, Milepost Avenue, Colombo 03.

The subject company is situated four storey office premises in Milepost Avenue, Colombo 3, are the centre of our business operations and they have a modern warehouse complex at Orugodawatta, on the outskirts of Colombo

· Operational Details.

General

The subject company primary line of business is Importers, Distributors and Trade of Agricultural & Other products.

The subject company Saied 3rd largest importer of red lentils and 4th largest importer of Sugar into Sri Lanka.

Products

Dates, Onions, Garlic, Coriander, Red split lentils, dried fish, canned fish, Wheat flour, Sugar, Pepper, Copra…etc

Export Country

Pakistan, India

No of Employees

Approximately 50

· Directors Details

01)

Name	Saffar Kassim
ID Number	563231289 X
Nationality	Sri Lankan
Gender	Male
Date Of Birth	18^th November 1956
Age	55 Years

02)

Name	Shafik Kassim
ID Number	611090340V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	18th April 1961
Age	51 Years

03)

Name	Hanif Yusoof
ID Number	583200339 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	15th November 1958
Age	53 Years

· Financial Data

The company has declined to provide information on its finances

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with

Limited Liability is not required to make public disclosure of their annual financials.

Therefore no financials are available for this entity

· Trade references

The subject company did not provide any trade references

· 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.55.17
UK Pound	1	Rs.86.43
Euro	1	Rs.68.27

INFORMATION DETAILS

Report Prepared by :

SDA

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

GENERAL

INFORMATION PARTED BY

CURRENT INVESTIGATION

Unit