MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	F & A FOODS (PVT) LTD
Registered Office :	# 120, 4^th Cross Street, Colombo – 11
Country :	Sri Lanka
Date of Incorporation :	21.04.2008
Com. Reg. No.:	PV 63872
Legal Form :	Private Limited Liability Company (In Operation)
Line of Business :	Importers & General Merchants in all kinds of food items
No. of Employees :	Approximately 12

RATING & COMMENTS

MIRA’s Rating :

B

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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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	:	F & A FOODS (PVT) LTD
Legal Form & Status	:	Private limited liability Company (In Operation)
Chairman / MD	:	Abdul Fazl Abdul Kareem
Primary Line of Business	:	Importers & General Merchants in all kinds of food items
Head office & Place of Business		# 120, 4^th Cross Street, Colombo – 11, Sri Lanka. Tel. No: (00 94 11) 474 1855 Fax. No: (00 94 11) 474 1877 E-mail: fazlkareem@dialogsl.net zakariyakarim@hotmail.com
No. of Employees	:	Approx 12

COMPANY DETAILS

- Registration and Shareholder Details

Registration No	:	PV 63872
Date of Registration	:	21^st April, 2008
Registered Office	:	# 120, 4^th Cross Street, Colombo 11, Sri Lanka Location : Owned
Board of Directors As at 31^st March 2010		Abdul Fazl Abdul Kareem	Managing Director
		M. Zakariya Abdul Kareem	Director
		M. Asif Mohamed Yoonus	Director
Issued Share Capital	:	LKR. 30.00
Nominal Value of Share	:	LKR. 10.00
Share Holders As at 31^st March 2010	:	Share Holders		No. of Shares
		Abdul Fazl Abdul Kareem		01
		M. Zakariya Abdul Kareem		01
		M. Asif Mohamed Yoonus		01
Auditors	:	Not Disclosed
Company Secretaries	:	AGS Management Consultants
Bankers	:	Not Disclosed
Customers	:	End Users

FINANCIAL DETAILS

- Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Information parted by

(GENERAL DETAILS)

Name : Mr. Zakariya

Designation : Director

Contact : 94-11-4741855

Date : 19.05.2012

CURRENT INVESTIGATION

· History.

The Subject Company F & A FOODS (PVT) LTD is a Private Limited Liability Company incorporated in 21^st April 2008 under registration number PV 63872.

· Location.

The Subject Company is located at the client given address # 120, 4^th Cross Street, Colombo 11, Sri Lanka, a highly commercial area in the city.

· Operational Details.

General

The subject company’s primary line of business is importing, marketing and distribution of all kinds of food products

Products

Frozen/ canned/ dried food items: Lentils, chilies, potatoes, Onions, Dates etc.

Import Country

India, Pakistan, China, Maldives, Middle East

Trading Terms

Purchasing: Cash, Credit

Selling: Cash, Credit

No of Employees

Approx. 12

· Directors Details

1

Name	Abdul Fazl Abdul Kareem
ID Number	792342230V
Nationality	Sri Lankan
Gender	Male
Date of Birth	21^st August 1979
Age	31 Years

2)

Name	M. Zakariya Abdul Kareem
ID Number	850403163V
Nationality	Sri Lankan
Gender	Male
Date of Birth	9^th February 1985
Age	25 Years

3)

Name	M. Asif Mohamed Yoonus
ID Number	811511188V
Nationality	Sri Lankan
Gender	Male
Date of Birth	30^th May, 1988
Age	22 Years

· Financial Data

The company has declined to provide information on its finances.

Further, In Sri Lanka, Private Companies do not publish their Accounts for Public use

Other than the Shareholders

· Trade references

The subject company did not provide any trade reference referrals

· 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.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

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%)