MIRA INFORM REPORT

Report Date :

29.06.2012

IDENTIFICATION DETAILS

Name :	S.S.K.HAJIAR & CO

Registered Office :	# 99, 2^nd Cross Street, Colombo 11

Country :	Sri Lanka

Financials (as on) :	31.03.2012

Year of Establishment :	2006

Legal Form :	Partnership Concern

Line of Business :	Importers & Distributors Textiles

No. of Employees :	Approximately 60

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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	:	S.S.K.HAJIAR & CO
Legal Form & Status	:	Partnership Concern
Partner	:	Mr. Fuzal Hinaya
Primary Line of Business	:	Importers & Distributors Textiles
Office & Place of Business	:	# 99, 2^nd Cross Street, Colombo 11. Sri Lanka Tel. No: (00 94 11) 232 4226; 243 6200 Fax No: (00 94 11) 245 1594 Email: ctm_ssk@yahoo.com Location: Owned
No. of Employees	:	Approximately 60

COMPANY DETAILS

- Registration and Shareholder Details

Registration No	:	Not Disclosed
Year of Registration	:	2006
Registered Address	:	# 99, 2^nd Cross Street, Colombo 11, Sri Lanka.
Proprietor	:	Mr. Fuzal hinaya	Partner
		Mrs. Zahiraben Zakir Hissain	Partner
Auditors	:	Jananerthiran Associates
Bankers	:	MCB Bank
Customers	:	· End Users · Ranjan Lanka (P) (L) · City Textile (P) (L)

FINANCIAL DETAILS

- Most recent available Financial Information

THE COMPANY HAS PROVIDE INFORMATION ON ITS FINANCES

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials.

Particular

31.03.2012

31.03.2011

Sales Turnover (Approximately)

LKR 120 millions

LKR 110 millions

Expected Sales (2012-2013) : Rs.LKR 150 millions

Information parted by

Name : Mr. Zakir

Designation : Chief Executive Officer (Husband of Partners)

Contact : 0094-11-2324226

Date : 28.06.2012

CURRENT INVESTIGATION

· History:

The subject company, S.S.K. HAJIAR & CO is PROPRIETORSHIP Company in operation.

Our investigator visited and met Mr. HAJIAR at the client given address and he

agreed to provide company details but up to date no information received from him in

spite of several reminders except the details included in this report.

The Proprietorship/Partnership Companies are registered at the Provincial Registrar of Companies and as the management declined to provide registration details it is not possible to trace company details at the Registrar’s office. As such company registration details could not be traced.

· Location.

The subject is located at the client given address, # 99, 2^nd Cross Street, Colombo 11, a

prominent business area in the city. The company is housed in a 3-storyed building

which said to be owned by the company.

A few photographs taken by our investigator are attached below.

· Operational Details.

General

The subject company primary line of business is Import & distribution of all kids of Textiles for wholesale and retail trade. According to the information gathered, this company is about 50 years in service.

Products

Textiles – Curtain materials, fabrics, sarongs (“Hero” Brand) etc.

· Import & Countries

India, Indonesia, Thailand, China, Turkey.

No of Employees

Approx. 60

Trading Term

Purchasing: Cash, Credit

Selling: Cash, Credit

· Financial Data

The company has provided information on its finances.

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

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

In Sri Lanka, financial information of Limited Liability/Proprietorship/Partnership Companies is not available for public use.

· Trade references

The subject company declined to provide any trade references

· Credit Recommendations

Since no financial or any other company 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.56.92
UK Pound	1	Rs.88.91
Euro	1	Rs.71.25

INFORMATION DETAILS

Report Prepared by :

PRL

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.