MIRA INFORM REPORT

Report Date :

01.03.2013

IDENTIFICATION DETAILS

Name :	ABC TRADE CENTRE

Registered Office :	# 881/4, Aluth Mawatha Road, Colombo 15

Country :	Sri Lanka

Date of Incorporation :	Not Available

Legal Form :	Proprietorship Company (In Operation)

Line of Business :	Importers and Distributors of Food Stuff

No. of Employees :	Not Available

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

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, 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

a.	Name of Subject of Inquiry	:	ABC TRADE CENTRE
b.	Legal Form & Status	:	Proprietorship Company (In Operation)
c.	Managing Proprietor	:	Ramshankar
d.	Primary Line of Business	:	Importers and Distributors of Food Stuff
e.	Office & Place of Business	:	# 881/4, Aluth Mawatha Road, Colombo 15, Sri Lanka Mobile No: (00 94 77) 755 1722 – Mr.Ramshankar
h.	No. of Employees	:	Not Disclosed

COMPANY DETAILS

- Registration and Shareholder Details

a.	Registration No	:	Not Disclosed
b.	Date of Registration	:	Not Disclosed
c.	Registered Office	:	# 881/4, Aluth Mawatha Road, Colombo 15
d.	Proprietor	:	Ramshankar	Proprietor
i.	Auditors	:	Not Disclosed
j.	Company Secretaries	:	Not applicable
k.	Bankers	:	Not disclosed

FINANCIAL DETAILS

- Most recent available Financial Information

Based on the corporate laws of Sri Lanka, business entities which are Private Company with Limited

Liability/ partnerships / proprietorships are not required to make public disclosure of their annual

Financials. Therefore no financials are available for this entity

CURRENT INVESTIGATION

HISTORY:

The Subject Company ABC TRADE CENTRE is Proprietorship Company

The Proprietorship/Partnership companies are being registered at the Provincial Registrar of Companies and when the owner refuses to provide details such as registration number, date of registration, auditors etc., it is not possible to obtain such details from the registry

Location:

The subject company is located at client # 881/4, Aluth Mawatha Road, Colombo 15, also it is owner residential address. Subject Company situated two stores building. When we visited the subject company, but owner is not hear business place because he went to the India some business deal. We met the owner wife and she gives some basic details to prepare this report.

OPERATIONAL DETAILS:

General:

The subject company’ primary line of business is Importing and wholesale & retail distribution of food items.

Products:

Potatoes, Onions, Lentils etc

Importing Countries:

Indian

Employees:

Not Disclosed

Financial Data:

The Company has declined to provide information on its Finances.

Based on the corporate laws of Sri Lanka, business entities which are Private Company with

Limited Liability/ partnerships / proprietorships are not required to make public disclosure of

Their annual Financials. Therefore no financials are available for this entity

· Trade references

The subject company did not provide any trade reference referrals

· 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 promoters 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.53.77
UK Pound	1	Rs.81.57
Euro	1	Rs.70.68

INFORMATION DETAILS

Report Prepared by :

PRL

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