MIRA INFORM REPORT

Report Date :

11.12.2012

IDENTIFICATION DETAILS

Name :	M &A AUTO TRADERS (PVT) LTD

Registered Office :	# 155 /35, Dolalanda Garden, Thalawathugoda

Country :	Sri Lanka

Date of Incorporation :	28.07.2010

Reg. No.:	PV 73445

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Import and Distribution motor Spare parts

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Sri Lanka

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Sri Lanka - ECONOMIC OVERVIEW

Sri Lanka continues to experience strong economic growth, driven by large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE. Sri Lanka is pursuing a combination of government directed policies, private investment, both foreign and domestic, to spur growth in disadvantaged areas, develop small and medium enterprises, and increase agricultural productivity. The government struggles with high debt interest payments, a bloated civil service, and historically high budget deficits. However recent reforms to the tax code have resulted in higher revenue and lower budget deficits in recent years. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded strongly with the end of the war and an IMF agreement, resulting in two straight years of high growth in 2010 and 2011. Per capita income of $5,600 on a purchasing power parity basis is among the highest in the region.

Source : CIA

GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	M &A AUTO TRADERS (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	P. D. Augustus Mohan Gilbert
d.	Primary Line of Business	:	Import and Distribution motor Spare parts
e.	Place of Business	:	# 155 /35, Dolalanda Garden , Thalawathugoda, Sri Lanka. Tel. No: (00 94 11) 436 0738 ,279 6810 Fax No: (00 94 11) 279 6808 E-mail: mandajaya@sltnet.lk
g.	No. of Employees	:	Not Disclosed

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	PV 73445
b.	Date of Registration	:	28^th July 2010
c.	Registered Office	:	# 155 /35, Dolaland Garden , Thalawathgugoda.
d.	Board of Directors As At 10^th October 2012	:	P. D. Augustus Mohan Gilbert	Managing Director
			K. D. Ananda Weerasinghe	Director
			Jayasiri Andaraweera	Director
e.	Issued Share Capital	:	Rs. 1,000.00
0f.	Nominal Value of Share	:	Rs. 10.00
g.	Major Share Holders As At 10^th October 2012	:			No. of Shares
			P. D. Augustus Mohan Gilbert		50
			K. D. Ananda Weerasinghe		50
h.	Auditors	:	Nusith Kumaratunga And Company
i.	Company Secretaries	:	Business Solutiona And Secretaries (pvt) Ltd
j.	Bankers	:	Not Disclosed

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 is M & A AUTO TRADERS (PVT) LTD is a Private Limited Liability Company incorporated on 28^th July 2010 under registration number PV 65262.

Location

The Subject Company is located at # 155 /35, Dolalanda Garden, Thalawathugoda. the client # 939 /H / 2 New Parilliment Road Pelawatta, Battharamulla Is Subject company Previous Business Place.

Operational Details.

General

The subject company primary line of business is Import and Distribution motor Spare parts

Products

Motor Spare Parts

Import Countries

India, China

No of Employees

Not Disclosed

Director’s Details

01)

Name	P. D. Augustus Mohan Gilbert
ID Number	681080147 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	17^th April 1968
Age	44 Years

02)

Name	K. D. Ananda Weerasinghe
ID Number	570812530 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	21^st March 1957
Age	55 Years

03)

Name	Jayasiri Andaraweera
ID Number	661931604 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	11^th July 1966
Age	46 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 provided the following trade references:

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.34
UK Pound	1	Rs.87.89
Euro	1	Rs.70.13

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%)

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