MIRA INFORM REPORT

Report Date :

05.07.2013

IDENTIFICATION DETAILS

Name :	AROMA NATURAL RUBBER (PVT) LTD
Registered Office :	# 71500 , Keraminiya Watta, Mawanella
Country :	Sri Lanka
Date of Incorporation :	09.11.2010
Com. Reg. No.:	PV 75394
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers & Exporters of natural rubber
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 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 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

Name of Subject of Inquiry	:	AROMA NATURAL RUBBER (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation)
Chairman	:	M.S. Mohamed Najeeb
Primary Line of Business	:	Manufacturers & Exporters of natural rubber
Head Office & Factory	:	Nagurugama, Mawanella, Sri Lanka. Mobile No :(00 94 77) 755 9918 Tel No :(00 94 35) 224 8050 Fax :(00 94 35) 224 7942 Email: aroma_rb@yahoo.com / info@aromanaturalrubber.com
Shop		# 109, Main Street, Mawanella, (Sabaragamuwa Province) Sri Lanka. Mobile No :(00 94 77) 786 0073 Fax :(00 94 35) 224 6648
No. of Employees	:	-Not Disclosed-

GENERAL - Basic information at a glance

COMPANY DETAILS

Registration and Shareholder Details

Registration No	:	PV 75394
Date of Registration	:	9^th November 2010
Registered Office	:	# 71500 , Keraminiya Watta, Mawanella, Sri Lanka.
Board of Directors As At 24^th January 2013		M.S. Mohamed Najeeb	Chirman
		M.S. Riyal Bacha	Director
		M.N. Mohamed Nifkhan	Director
Issued Share Capital	:	Rs. 1000.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 24^th January 2013	:	Share Holders		No. of Shares
		M.S. Mohamed Najeeb		60
		M.S. Riyal Bacha		40
Auditors	:	Faizal & Company
Company Secretaries	:	G.A. Samarasekara
Bankers	:	Not Disclosed

Director’s Details

1)

Name	M.S. Mohamed Najeeb
ID Number	550082845 V
Nationality	Sri Lankan
Sex	Male
Date of Birth	8^th January 1955
Age	58 years

2)

Name	M.S. Riyal Bacha
ID Number	641331902 V
Nationality	Sri Lankan
Sex	Male
Date of Birth	12^th May 1964
Age	49 years

3)

Name	M.N. Mohamed Nifkhan
ID Number	882700470 V
Nationality	Sri Lankan
Date of Birth	26^th September 1988
Sex	Male
Age	25 years

FINANCIAL DETAILS

Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

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 AROMA NATURAL RUBBER (PVT) LTD is a Limited Liability Company, in operation, has been registered on 09^h November, 2010 under Registration No: PV 75394.

Mr. Najeeb’ (Chairman) brother Mr. M.S. Riyal Batcha and his eldest son Mr. M.N.M.

Nifkhan are integral part of this company.

Initially in 1986, it has been a proprietorship company and converted to a “LTD” company

as at present, in 2010.

There are two subsidiary companies namely:

- Aroma Traders

- Aroma Latex (Pvt) Ltd.

· Location.

The Subject Company AROMA NATURAL RUBBER (PVT) LTD is located at Nagurugama, Mawanella, Sri Lanka. The client # Keraminiya Watta, Mawanella 71500, Sri Lanka is the registered address of the subject company. Their Shop is Located at #109, Main Street, Mawanella,( Sabaragamuwa Province), Sri Lanka.

The Location is predominantly rubber growing area on the Colombo – Kandy Highway 1 and is approx. 75 kilo meters From Colombo.

· Operational Details.

General

The subject company’s primary line of business is manufacture and Exporting of natural rubber.

They have earned Awards such as:

- ”SHILPA – 2011 Industry Competition

- APEA 2012, APA OBA VENUVEN” (We are for you). A Social Award

- Asia Pacific Entrepreneurship Awards (APEA) 2012

Products

Natural Rubber

· TPC 1X, 1, 2, 3, 4

· RSS 1, 2, 3, 4, 5

· Brown crepe 1X, 2X, 3X, 4X

· Skim crepe

· Sole crepe

· SLR-10

· SLR-20

· SLR-50

Latex Natural Rubber Smoked rubber

Export Countries

· Southeast Asia

· Africa

· Mid East

· Eastern Asia

· Western Europe

· Central America

No of Employees

-Not Disclosed-

· Financial Data

The company has declined to provide information on its finances

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.

· General Comments

The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from non-formal sources but clearly originating from the company

· 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.60.09
UK Pound	1	Rs.91.58
Euro	1	Rs.78.08

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%)

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.