MIRA INFORM REPORT

Report Date :

03.07.2013

IDENTIFICATION DETAILS

Name :	PARAMOUNT PRINT PACK (PVT) LTD

Registered Office :	# 5, Dewala Road, Pethiyagoda, Kelaniya

Country :	Sri Lanka

Date of Incorporation :	04.05.2000

Com. Reg. No.:	N (PVS) 26021

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Manufacturing and printing all types of cartons for local and overseas manufacturing, exporting industries

No. of Employees :	Not Available

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 – March, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Sri Lanka

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 following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam (LTTE). The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises and increase agricultural productivity. The government's high debt payments and bloated civil service have contributed to historically high budget deficits, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. 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 with the end of the war and an IMF agreement, resulting in two straight years of 8% growth in 2010-11. Growth moderated to about 6% in 2012. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern. Strong remittances from Sri Lankan workers abroad have helped to offset the trade deficit.

Source : CIA

GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	PARAMOUNT PRINT PACK (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	M.A. Priyanga Joseph Perera
d.	Primary Line of Business	:	Manufacturing and printing all types of cartons for local and overseas manufacturing, exporting industries
e.	Head office, & Factory	:	# 5, Dewala Road, Pethiyagoda, Kelaniya, Sri Lanka. Tel. No: (00 94 11) 291 2807, 291 0809, 290 7651 Fax No: (00 94 11) 291 6770 E. Mail: info@paramountprintpack.com
f.	No. of Employees	:	Not Disclosed

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	N (PVS) 26021
	Date of Registration	:	04^th May 2000
b.	Re-registration No		PV 3657
	Date of Re-registration		06^th May 2008
c.	Registered Office	:	# 241, Biyagama Road, Kelaniya.
d.	Board of Directors As at 14^th October 2012	:	M.A. Priyanga Joseph Perera		Chairman
			Therese Dimuthu Perera		Director
f.	Issued Share Capital	:	Rs. 4,000,000.00
g.	Nominal Value of Share	:	Rs. 10.00
h.	Share Holders As at 14^th October 2012	:		Share Holders		No. of Shares
				M.A. Priyanga Joseph Perera		360,000
				Therese Dimuthu Perera		40,000
i	Auditors	:		Amarasekara & Co.,
j.	Company Secretaries	:		Company Secretaries (Pvt) Ltd
k.	Bankers	:		Not Disclosed

DIRECTOR’S DETAILS

Name	M.A. Priyanga Joseph Perera
Nationality	Sri Lankan
ID Number	652400060 V
Date of birth	27^th August 1965
Age	47 Years

Name	Therese Dimuthu Perera
Nationality	Sri Lankan
ID Number	696210039 V
Date of birth	30^th April 1969
Age	44 Years

FINANCIAL DETAILS

- Most recent available Financial Information

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

Current investigation

History.

The Subject Company PARAMOUNT PRINT PACK (PVT) LTD is a Private Limited liability Company incorporated on 04^th May 2000 under registration number N (PVS) 26021 and then the company was re-registered on 06^th May 2008 under registration number PV 3657.

Location.

The Subject Company is located at # 5, Dewala Road, Pethiyagoda, Kelaniya.

Operational Details.

General

The subject company’s primary line of business is manufacturing and printing all types of cartons for local and overseas manufacturing, exporting industries.

Products

Cartons, Labels, Stickers, Danglers, Shelf strips, Wabblers

Exporting Country

Middle East, China

Employees

Not Disclosed.

Financial Data

Trade references

Not Available

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.59.41
UK Pound	1	Rs.90.38
Euro	1	Rs.77.61

INFORMATION DETAILS

Report Prepared by :

SDA

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.