MIRA INFORM REPORT

Report Date :

30.05.2012

IDENTIFICATION DETAILS

Name :	N B FOODS (PVT) LTD

Registered Office :	# 108, Sea Street, Colombo 11

Country :	Sri Lanka

Date of Incorporation :	26.02.2001

Com. Reg. No.:	N (PVS) 27962

Legal Form :	Private Limited Liability Company (In operation)

Line of Business :	Importer and Distributor of Essential Commodities

No. of Employees :	Approximately 60

RATING & COMMENTS

MIRA’s Rating :

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

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	:	N B FOODS (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In operation)
Managing Director	:	W. Udayakantha Senavirathna
Primary Line of Business	:	Importer and Distributor of essential commodities
Head Office & Place of Business	:	# 125, 5^th Cross Street, Colombo 11, Sri Lanka Tel. No: (00 94 11) 233 8148 / 232 0675 / 233 8149 Fax No: (00 94 11) 243 0226
		# 152, 4^th Cross Street, Colombo 11, Sri Lanka Tel. No: (00 94 11) 232 0675 / 243 7802 Fax No: (00 94 11) 243 0226 Mobile: (00 94 77)755 7906 / 755 7902 / 789 6866
		# 153, 5^th Cross Street, Colombo 11, Sri Lanka Tel. No: (00 94 11) 247 2309
No. of Employees	:	Approximately 60
Customers	:	· Wholesaler · Retailers

COMPANY DETAILS

- Registration and Shareholder Details

Registration No		:	N (PVS) 27962
Date of Registration		:	26^th February 2001
Re-registration No		:	PV 10257
Date of Re-registration			16^th December 2008
Registered Office		:	# 108, Sea Street, Colombo 11, Sri Lanka Email: nbfoods1@gmail.com Location: Owned
Board Of Directors As At 31^st August 2010		:	W. Udayakantha Senavirathna	Managing Director
			M. Kamal Seeni	Director
			M. S. Indika Wijenayake	Director
			H. Sunil Perera	Director
			A. K. S. Hemantha Sumanapala	Director
			Asha Seneviratne	Director
			Anusha seneviratne	Director
Issued Share Capital		:	LKR. 20.00
Nominal Value of Share		:	LKR. 10.00
Share Holders As At 31^st August 2010		:	Share Holders	No of Shears
			W. Udayakantha Senavirathna	01
			M. Kamal Seeni	01
Secretaries	:		G .R.S. Management & Secretarial Services (Pvt) Ltd
Auditors	:		Stanley and Associates
Bankers		:	· NDB Bank · MCB Bank

FINANCIAL DETAILS

- Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Information parted by

(GENERAL DETAILS )

Name : Mr. W Udayakantha Senavirathna

Designation : Managing Director

Contact : 00 94 11 - 2320675

Date : 16.05.2012

CURRENT INVESTIGATION

· History.

The Subject Company N B FOODS (PVT) LTD is a Private Limited Liability Company incorporated on 26^th February 2001 under registration number N (PVS) 27962 and the company was re-registered under registration number PV 10257 on 16^th December 2008.

· Location.

The Subject Company’s one of branch is located at the client given address # 152, 4^th Cross

Street, Colombo 11. Subject company head office is located at # 125, 5^th Cross Street,

Colombo 11.

· Operations Details.

General

The subject company primary line of business is Importer and Distributor of essential commodities.

Products

Dahl, Potatoes, Onions, Garlic, Chile, Maldives Fish and Sugar etc…

Import Countries

India, China, Nepal, Turkey & Pakistan.

Trading terms

Purchasing: Cash, Credit

Selling: Cash, Credit

No of Employees

Approximately 60

· Directors Details

Name	W. Udayakantha Senavirathna
ID Number	663551346 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	20^th December 1966
Age	44 Years

Name	M. Kamal Seeni
ID Number	632150423 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	2^nd August 1963
Age	47 Years

Name	M. S. Indika Wijenayake
ID Number	741530724 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	1^st June 1974
Age	36 Years

Name	H. Sunil Perera
ID Number	650422651 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	11^th February 1965
Age	45 Years

Name	A. K. S. Hemantha Sumanapala
ID Number	571701936 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18^th June 1957
Age	53 Years

Name	Asha Seneviratne
ID Number	655791884 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	19^th March 1965
Age	46 Years

Name	Anusha seneviratne
ID Number	665661563 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	6^th March 1966
Age	45 Years

· Financial Data

The company has declined to provide information on its finances

Further, In Sri Lanka, Private limited liability/partnership/proprietorship Companies do not publish their Accounts for Public use other than the Shareholders

· Trade references

The subject company did not provide any trade references

· 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.55.58
UK Pound	1	Rs.87.14
Euro	1	Rs.69.73

INFORMATION DETAILS

Report Prepared by :

MNL

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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