MIRA INFORM REPORT

Report Date :

12.03.2012

IDENTIFICATION DETAILS

Name :	CEYLON SPICE EXPORTS

Registered Office :	# 130, Attaragama Road, Mullegama, Ambatenna

Country :	Sri Lanka

Year of Establishment :	2010

Com. Reg. No.:	Not Available

Legal Form :	Proprietorship Concern

Line of Business :	Export of Spices

No. of Employees :	10 Approximately

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 – September 30^th, 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

Name of Subject of Inquiry	:	CEYLON SPICE EXPORTS
Legal Form & Status	:	Proprietorship Concern (In Operation)
Proprietor	:	S.M.M Kuddos
Primary Line of Business	:	Export of Spices
Office & Place of Business	:	# 130,Attaragama Road, Mullegama, Ambatenna, Sri Lanka Tel No: (00 94 81) 2301 380 Mob. No: (00 94 77) 2353 848 (Mr. Fawmy Hashim – Exporting Manager) E-mail: ceyspiexp@gmail.com
No. of Employees	:	10 Approximately

CONCERN DETAILS - Registration and Shareholder Details

Registration No	:	Not disclosed
Date of Registration	:	2010
Registered Office	:	# 130, Attaragama Road, Mullegama, Ambatenna, Sri Lanka
Proprietor	:	S.M.M Kuddos
Auditors	:	Not Disclosed
Concern Secretaries	:	Not applicable
Bankers	:	Seylan Bank, Commercial Bank, Peoples Bank

CURRENT INVESTIGATION

HISTORY

The Subject Concern CEYLON SPICE EXPORTS is Proprietorship Concern in Operation.

The Proprietorship/Partnership companies are being registered at the Provincial Registrar of Companies and when the owner refuses to provide license number and date of issue details, Bankers, No. of Employees, Auditors, Imports & Exports etc. it is not possible to obtain such Details from the registry.

Location:

The subject concern is located at the client given address # 130, Attaragama Road, Mullegama, Ambatenna, Sri Lanka.

OPERATIONAL DETAILS:

General

The subject concern ’ primary line of business is Export of Spices.

Products

Cloves, Nutmeg, Mace, Pepper

Countries

India

Employees

10 Approximately

Financial Data:

The Proprietor of the Concern has declined to provide information on its Finances and also operational details.

In Sri Lanka, Private Limited Liability/Proprietorship/Partnership Companies do not publish their Accounts for Public use, other than the Shareholders

Credit Recommendations:

Since no financial information has been forthcoming from the concern , it is not possible to comment on the merits or otherwise of the concern .

No computerised data bases exist to make checks whether the promoters or the concern 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.50.02
UK Pound	1	Rs.79.00
Euro	1	Rs.66.18

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.

GENERAL- Basic information at a glance

CONCERN DETAILS - Registration and Shareholder Details

CURRENT INVESTIGATION

Unit