MIRA INFORM REPORT

Report Date :

01.09.2012

IDENTIFICATION DETAILS

Name :	RISING SUN DIE CASTINGS PRIVATE LIMITED
Registered Office :	Room No.2, Gat No.118, Alandi Markal Road, Village Dhanore, Taluka: Khed, Pune – 412 115, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.04.2007
Com. Reg. No.:	11-129994
Capital Investment / Paid-up Capital :	Rs.3.100 millions
CIN No.: [Company Identification No.]	U27320PN2007PTC129994
TAN No.: [Tax Deduction & Collection Account No.]	PNER10138C
PAN No.: [Permanent Account No.]	AADCR6385H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Automobile Components.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 36000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Iyaz Mulani
Designation :	Senior A/c Executive
Contact No.:	91-2135-662900
Date :	31.08.2012

LOCATIONS

Registered Office/ Factory :	Room No.2, Gat No.118, Alandi Markal Road, Village Dhanore, Taluka: Khed, Pune – 412 115, Maharashtra, India
Tel. No.:	91-2135-662900/ 232516
Fax No.:	91-2135-232017
E-Mail :	accounts@risingsun.co.in info@risingsun.co.in
Website :	http://www.risingsun.co.in
Location :	Owned

DIRECTORS

As on 22.09.2011

Name :	Mr. Vijay Ambadas Sarode
Designation :	Director
Address :	Sarala Chamelia, S.No.132, Plot No.7, Cosmopolitian Co-operative Society Limited, Aundh, Pune – 411 007, Maharashtra, India
Date of Birth/Age :	11.03.1947
Date of Appointment :	18.04.2007
DIN No.:	00107838
Name :	Mr. Yashwant Shridhar Kulkarni
Designation :	Director
Address :	Shridhar Smruti, 66, Ashok Nagar, Shivajinagar, Pune - 411 007, Maharashtra, India
Date of Birth/Age :	10.09.1952
Date of Appointment :	30.09.2010
DIN No.:	02921756
Voter ID No.:	DRD2133379

KEY EXECUTIVES

Name :	Mr. Iyaz Mulani
Designation :	Senior A/c Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2011

Names of Shareholders (Equity Shares)	No. of Shares
Vijay Ambadas Sarode	108700
Hector Eric Anthony	300
Yashwant Shridhar Kulkarni	1000
Total	110000

Names of Shareholders (Preference Shares)	No. of Shares
Vijay Ambadas Sarode	200000
Total	200000

As on 22.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	99.73
Other top fifty shareholders	0.27
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automobile Components.

Products :

Item Code No. (ITC Code)	371
Product Description	Automobile Components

Terms :

Selling :

Cash and Credit (30/ 60 days)

Purchasing :

Cash and Credit (30/ 60 days)

PRODUCTION STATUS (AS ON 31.03.2011)

Class of Goods – Automobile Components

Licensed Capacity – Not Applicable

Installed Capacity – Management is of the opinion that it is not feasible to ascertain the installed capacity.

Particulars	Unit	2010-11
Production	Nos.	1845543

GENERAL INFORMATION

Customers :

Automobile Company

v Brembo

No. of Employees :

50 (Approximately)

Bankers :

v The Cosmos Co-Operative Bank Limited (Alandi Branch), 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India

v Bank of Maharashtra

v State Bank of India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Working Capital Loan from:
The Cosmos Co-Operative Bank Limited
Term Loan	11.855	0.521
Cash Credit Account	1.266	1.396
Bills Discounting Account	5.114	5.285
Total	18.235	7.202

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
From Director	3.134	2.909
Total	3.134	2.909

Notes:

1. Working Capital Loan is secured by:

i) First charge by way of Hypothecation of whole of Stock of Raw Materials, Consumables, Work-in-Progress, Finished Goods, Book Debts.

ii) Mortgage of by way of additional charge on Company’s Lease Hold Land and Industrial Shed at Gat No.118, Village Dhanore, Taluka – Khed, District Pune.

iii) Corporate Guarantee from Shoei Finishing Private Limited, the Company in which Directors are interested.

2. Term loan is secured by way of Hypothecation of Machinery and Vehicles.

3. The Bank loans are guaranteed by the Directors in their personal capacities and corporate Guarantee from Shoei Finishing Private Limited, the Company in which Directors are interested.

Banking Relations :	--
Auditors :
Name :	Suryakant M. Shah and Company Chartered Accountants
Address :	39-40, Chitrashala Bhavan, 354 Narayan Peth, Laxmi Road, Pune – 411 030, Maharashtra, India
Tel. No.:	91-20-24450280/ 24461660
E-Mail :	shahsu@vsnl.net
Income-tax PAN of auditor or auditor's firm :	ADWPS9205Q
Associate Concern :	Shoei Finishing Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs.1.500 millions
200000	7% Redeemable Cumulative Preference Shares	Rs.10/- each	Rs.2.000 millions
	Total		Rs.3.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
110000	Equity Shares	Rs.10/- each	Rs.1.100 millions
200000	7% Redeemable Cumulative Preference Shares	Rs.10/- each	Rs.2.000 millions
	Total		Rs.3.100 millions

Note:

100000, 7% Redeemable Cumulative Preference Share of Rs.10 each fully paid converted into 100000 Equity Shares of Rs.10 each fully paid.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		3.100	3.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.840	1.358	0.138
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.940	4.458	0.238
LOAN FUNDS
1] Secured Loans		18.235	7.202	6.178
2] Unsecured Loans		3.134	2.909	2.000
TOTAL BORROWING		21.369	10.111	8.178
DEFERRED TAX LIABILITIES		0.624	0.124	0.050
TOTAL		30.933	14.693	8.466
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		20.179	3.236	1.373
Capital work-in-progress		0.063	0.028	0.057
INVESTMENT		0.100	0.100	0.100
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.679	6.442	6.552
	Sundry Debtors	14.066	10.136	13.381
	Cash & Bank Balances	0.706	0.153	2.242
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.214	1.783	0.629
Total Current Assets		23.665	18.514	22.804
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.055	3.952	8.082
	Other Current Liabilities	2.693	2.674	7.680
	Provisions	2.333	0.572	0.125
Total Current Liabilities		13.081	7.198	15.887
Net Current Assets		10.584	11.316	6.917
MISCELLANEOUS EXPENSES		0.007	0.013	0.019
TOTAL		30.933	14.693	8.466

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income from operations (Net)	84.642	53.860	38.184
		Other Income	0.057	0.142	0.307
		TOTAL	84.699	54.002	38.491
Less	EXPENSES
		Office Expenses	77.884	52.163	38.378
		Administrative Expenses
		Advertising Expenses
		TOTAL	77.884	52.163	38.378
	PROFIT BEFORE TAX		6.815	1.839	0.113
Less	TAX		2.170	0.574	0.099
	PROFIT AFTER TAX		4.645	1.265	0.014
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	NA
Less	APPROPRIATIONS
		Proposed dividend on Preference Shares	0.140	0.013	0.000
		Tax on Dividend	0.023	0.002	0.000
	BALANCE CARRIED TO THE B/S		NA	NA	NA`
	Earnings Per Share (Rs.)		42.23	126.48	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	100.000

Expected Sales (2012-2013): More than Rs.150.000 millions

The above information has been parted by Mr. Iyaz Mulani (Senior A/c Executive).

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.48	2.34	0.04
Net Profit Margin (PBT/Sales)	(%)	8.05	3.41	0.30
Return on Total Assets (PBT/Total Assets}	(%)	15.54	8.46	0.47
Return on Investment (ROI) (PBT/Networth)		0.76	0.41	0.47
Debt Equity Ratio (Total Liability/Networth)		3.85	3.88	101.11
Current Ratio (Current Asset/Current Liability)		1.81	2.57	1.44

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors
- Total outstanding dues of Micro, Small, Medium Scale Enterprises undertaking(s)	4.541	1.650	6.917
- Total outstanding dues of creditors other than Micro, Small, Medium Scale Enterprises undertaking(s)	3.514	2.302	1.165
Total	8.055	3.952	8.082

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes
31) Date of Birth of Proprietor/Partner/Director, if available	Yes
32) PAN of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	No

OPERATIONS:

During the year the turnover of the company has increased and the profit before and after tax has gone up to a great extent. This is due to the efforts taken by the board of directors.

Bankers Charges Report as per Registry

Corporate identity number of the company	U27320PN2007PTC129994
Name of the company	RISING SUN DIE CASTINGS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Room No.: 2, Gat No.118, Alandi Markal Road, Village Dhanore, Taluka: Khed, Pune – 412 115, Maharashtra, India E-Mail: devendracs@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10111797
Type of charge	Book Debts Floating Charge
Particular of charge holder	The Cosmos Co-Operative Bank Limited (Alandi Branch), 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India E-Mail: mandevazecs@vsnl.net
Nature of description of the instrument creating or modifying the charge	This second supplementary deed of hypothecation of stocks, book debts and machinery dated 11.07.2011
Date of instrument Creating the charge	11.07.2011
Amount secured by the charge	Rs.15.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 13% p.a. Terms of Repayment: Period - repayable on demand / review within 12 months Margin: 25% in Banks favour Extent and Operation of the charge: The charge shall continue to operate until the full repayment of loan by the company Others: Facility - Bill Discounting Rs.7.500 millions Cash Credit Rs.7.500 millions
Short particulars of the property charged	Stock and undiscounted debtors below 90 days. Bills drawn on reputed companies arising out of genuine trade transactions.
Particulars of the present modification	The limit of bill discounting is enhanced to Rs.7.500 millions and the cash credit limit is also enhanced to Rs.7.500 millions thus the total charge amount stands to Rs.15.000 millions

TRADE REFERENCES:

v Brembo

FIXED ASSETS:

v Plant and Machinery

v Dies

v Computers

v Software

v Electrical Installation

v Furniture

v Office Equipments

v Vehicle

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.72
UK Pound	1	Rs.87.95
Euro	1	Rs.69.65

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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%)

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	-

MIRA INFORM REPORT

Report Date :

01.09.2012

IDENTIFICATION DETAILS

Name :	MERBOK MDF LANKA (PVT) LIMITED
Registered Office :	# 9/5, Thambiah Avenue, Colombo-07
Country :	Sri Lanka
Date of Incorporation :	22.12.2000
Com. Reg. No.:	PV 10311
Legal Form :	Private Limited Liability Company (In Operation)
Line of Business :	Manufacture & Export of MDF Boards
No. of Employees :	Not Available

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

Sri LankA - ECONOMIC OVERVIEW

Sri Lanka continues to experience strong economic growth, driven by large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE. Sri Lanka is pursuing a combination of government directed policies, private investment, both foreign and domestic, to spur growth in disadvantaged areas, develop small and medium enterprises, and increase agricultural productivity. The government struggles with high debt interest payments, a bloated civil service, and historically high budget deficits. However recent reforms to the tax code have resulted in higher revenue and lower budget deficits in recent years. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded strongly with the end of the war and an IMF agreement, resulting in two straight years of high growth in 2010 and 2011. Per capita income of $5,600 on a purchasing power parity basis is among the highest in the region.

Source : CIA

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	MERBOK MDF LANKA (PVT) LIMITED
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Chairman	:	Robert Kokshoorn
Primary Line of Business	:	Manufacture & Export of MDF Boards
Head office, Factory & Place of Business	:	Export Processing Zone, Ratnapura Road, Gurugoda Horana. Sri Lanka Tel. No: (00 94 34) 225 5502 / 429 8639 / 225 5476 / 225 5477 Fax. No: (00 94 34) 225 5504 E-Mail: sales@merbok.com
No. of Employees	:	-Not Disclosed-

COMPANY DETAILS-Registration and Shareholder Details

Registration No	:	N (PVS) 27617
Date of Registration		22^nd December 2000
Re-registration No	:	PV 10311
Date of Re-registration		18^th December 2008
Registered Office	:	# 9/5, Thambiah Avenue, Colombo-07, Sri Lanka.
Board of Directors As At 14^th December 2010	:	Robert Kokshoorn	Chairman
		Richard Anthony Whithman	Director
		Dominic Andrla	Director
		Maxwell Alexender Norris	Director
Issued Share Capital	:	Rs. 540,000,000.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 14^th December 2010	:	Share Holders		No. of Shares
		Richard Anthony Whithman		01
		Merbok Hilir Group (BVI) Limited		53,999,999
Auditors	:	Ford Rhodes Thornton & Company
Company Secretaries	:	Jacey & Company
Bankers	:	-Not Disclosed-

CURRENT INVESTIGATION

· History.

The Subject Company MERBOK MDF LANKA (PVT) LIMITED is a Private Limited liability Company incorporated on 22nd December 2000 under the registration number N (PVS) 27617 and then re-registered under the registration number PV 10311 on 18^th December 2008, in terms of Registrar of companies Act. # 7 of 2007.

· Location.

The Subject Company is located at client Export Processing Zone, Ratnapura

Road,Gurugoda Horana. Approx. 40 kilo meters from Colombo.

Operational Details.

General

The subject company primary line of business is Manufacture & Export a of MDF Boards.

Products

Merboard Gold

Merbok Thinpanel

Merbok Compactiono

Merboard MR

Merbok Global Art

Export Country

Indian Sub Continent, Middle East

No of Employees

Not Disclosed

· Director Details

01)

Name	Robert Kokshoorn
PP Number	BA0079874
Nationality	Dutch

02)

Name	Richard Anthony Whithman
PP Number	E 7074474
Nationality	Australia

03)

Name	Dominic Andrla
ID Number	761076803
Nationality	Sri Lankan

04)

Name	Maxwell Alexander Norris
PP Number	761034312
Nationality	British

· Financial Data

The company has declined to provide information on its finances.

In Sri Lanka, Private Limited Liability 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.55.72
UK Pound	1	Rs.87.95
Euro	1	Rs.69.66

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%)