MIRA INFORM REPORT

Report Date :

17.07.2013

IDENTIFICATION DETAILS

Name :	SAKURA TRADING (PVT) LTD

Registered Office :	# 159/1 , Keyzer Street, Colombo – 11

Country :	Sri Lanka

Date of Incorporation :	22.03.2012

Com. Reg. No.:	PV 85083

Legal Form :	Private Limited Liability Company

Line of Business :	Not Available

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New business

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

Name of Subject of Inquiry	:	SAKURA TRADING (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In Operation )
Director	:	Abdul Sattar Mohamed Aslam
Primary Line of Business	:	Not Disclosed
Head office & Place of Business	:	# 159/1 , Keyzer Street, Colombo – 11, Sri Lanka. Tel No: (00 94 11) Not Disclosed/Available Fax. No: (00 94 11) Not Disclosed/Available
No. of Employees	:	Not Disclosed

COMPANY DETAILS

Registration and Shareholder Details

Registration No	:	PV 85083
Date of Registration	:	22^nd March 2012
Registered Office	:	# 159/1 , Keyzer Street, Colombo – 11.
Board of Directors As At 22^nd March 2012	:	Abdul Sattar Mohamed Aslam	Director
		Riznaaz Praveen Aslam	Director
		Mohamed Sajid	Director
		Mohamed Adil Aslam	Director
Issued Share Capital		Rs. 40.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 22^nd March 2012	:	Share Holders		Shares
		Abdul Sattar Mohamed Aslam		01
		Riznaaz Praveen Aslam		01
		Mohamed Sajid		01
		Mohamed Adil Aslam		01
Auditors	:	Not Disclosed
Company Secretaries	:	Velu Rajadurai
Bankers	:	Not Disclosed

Details of Directors

01)

Name	Abdul Sattar Mohamed Aslam
Nationality	Sri Lankan
ID Number	671900812 V
Age	46 Years
Gender	Male
Date Of Birth	08^th July 1967

02)

Name	Riznaaz Praveen Aslam
Nationality	Sri Lankan
ID Number	717392973 V
Age	42Years
Gender	Female
Date Of Birth	26^th August 1971

03)

Name	Mohamed Sajid
Nationality	Sri Lankan
ID Number	900650027 V
Age	23 Years
Gender	Male
Date Of Birth	5^th March 1990

04)

Name	Mohamed Adil Aslam
Nationality	Sri Lankan
ID Number	940774233 V
Age	19 Years
Gender	Male
Date Of Birth	17^th March 1994

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, SAKURA TRADING (PVT) LTD is a Private Limited liability Company initially incorporated on 22^nd March 2012 under registration number PV 85083 in terms of Companies Act #7 of 2007.

· Location.

The subject company client # 159/ 1, Keyzer Street Colombo 11 address still we cannot trace and cannot find it.

The subject company is not been listed in any of the telephone directories and as such

No contact number available

· Operational Details.

General

The details of the primary line of business of the subject company is not disclosed as yet.

Products:

Details not available

No of Employees

Not Disclosed

· Financial Data

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

· 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.59.39
UK Pound	1	Rs.89.90
Euro	1	Rs.77.23

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.