MIRA INFORM REPORT

Report Date :

30.03.2012

IDENTIFICATION DETAILS

Name :	S.B.R.TRADERS
Registered Office :	# D/G/4, de Mel Flats, Grandpass, Colombo 14
Country :	Sri Lanka
Date of Incorporation :	21.02.2012
Com. Reg. No.:	W/A 99659
Legal Form :	Proprietorship Concern
Line of Business :	Importers , Dealers & Distributors of Textiles
No. of Employees :	Approximately 05

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Concern
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	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	:	S.B.R.TRADERS
Legal Form & Status	:	Proprietorship Concern (In Operation)
Managing Proprietor	:	A.G.M. Sabeer
Primary Line of Business	:	Importers , Dealers & Distributors of Textiles
Office & Place of Business	:	# 216/1, Main Street, Colombo 11. Sri Lanka Tel/Fax No:(00 94 11) 243 4606 Mobile No: (00 94 77) 736 2775 Email: agmsabeer@gmail.com
No. of Employees	:	Approx. 05

CONCERN DETAILS - Registration and Shareholder Details

Registration No	:	W/A 99659
Date of Registration	:	21^st February, 2012
Registered Address/Office	:	# D/G/4, de Mel Flats, Grandpass, Colombo 14. Sri Lanka
Proprietor	:	Mr. Abdul Gafoor Mohamed Sabeer
Auditors	:	S.M.J. Associates
Concern Secretaries	:	Not applicable
Bankers	:	Hatton National Bank PLC, Pettah Branch

CURRENT INVESTIGATION

HISTORY:

The Subject Concern S.B.R.TRADERS is a Proprietorship Concern in operation. The concern has been registered on 10^th February, 2012 under Registration No. W/A 99659.

Location:

The subject concern /shop is located at # 216/1, Main Street, Colombo 01, one of the main/prominent business areas in the city.

The client given address # D/G/4, de Mel Flats, Grandpass, Colombo 14, Sri Lanka, is the registered address and also the residence of the Proprietor.

OPERATIONAL DETAILS:

General:

The subject concern ’ primary line of business is Importing and distribution of Textiles. Mr. Sabeer said that his concern has been established in February, 2012 and he has just received a shipment of textiles.

Products:

Textiles – Fabrics for men’s & female’s wear - suiting, shirting, etc.

Importing Countries:

India

Employees:

Approx.05

Financial Data:

The Proprietor, Mr. Sabeer said that his concern just been established (Feb.2012) and not possible to prepare the balance sheet of the Concern , but said the Capital/investment is approx.10 million rupees.

He provided the VAT Registration number of the Concern as 793421389-2525.

Note: In Sri Lanka, Private Limited Liability/Proprietorship/Partnership Companies do not publish their

Accounts for Public use, other than the Shareholders

Trade References:

Hatton National Bank Plc, Pettah Branch

Credit Recommendations:

Since the concern has commenced operation very recently, 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.51.15
UK Pound	1	Rs.81.41
Euro	1	Rs.68.22

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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