MIRA INFORM REPORT

Report Date :

21.03.2013

IDENTIFICATION DETAILS

Name :	BODYNITS LANKA (PVT) LTD

Registered Office :	# 200-2/2, Keyzer Street, Colombo 11

Country :	Sri Lanka

Date of Incorporation :	06.11.2012

Com. Reg. No.:	PV 89206

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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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 – 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	:	BODYNITS LANKA (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company
c.	Managing Director	:	H.K. Asanka Manoj Priyankara
.	Office & Place of Business	:	# 200-2/2, Keyzer Street, Colombo 11. Sri Lanka. Tel./Fax No: (00 94 11) Not disclosed/ Not listed in theTelephone directory
g.	No. of Employees	:	Not disclosed

COMPANY DETAILS

- Registration and Shareholder Details

a.	Registration No	:	PV 89206
b.	Date of Registration	:	06^th November, 2012
c.	Registered Office/Address	:	# 200-2/2, Keyzer Street, Colombo 11. Sri Lanka.
d.	Board of Directors As At 06^th November 2012	:	H.K. Asanka Manoj Priyankara	Managing Director
e.	Issued Share Capital	:	Rs 1,000.00
f.	Nominal Value of Share	:	Rs 10.00
g.	Share Holders As At 06^th November 2012	:	Share Holders		No. of Shares
g.	Share Holders As At 06^th November 2012	:	H.K. Asanka Manoj Priyankara		100
h.	Auditors	:	Not Disclosed
i.	Company Secretaries	:	M. Farook Mohamed Shabeer
j.	Bankers	:	Not disclosed

· Directors Details

01)

Name	H.K. Asanka Manoj Priyankara
ID Number	802880987 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	16th December 1980
Age	32 Years

FINANCIAL DETAILS

- Most recent available Financial Information

THE COMPANY HAS BEEN INCORPORATED ONLY A FEW MONTHS BACK.

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 BODYNITS LANKA PVT) LTD has been incorporated as a Private Limited Liability Company on 06^th November, 2012 under registration number PV 89206.

Our investigators visited the given address and no such company found there. Neighbours could not provide any clue. Since the subject has been incorporated only a few months back, it appears that subject is not in operation as yet.

· Location.

The Subject Company could not be located at the client given address # 200-2/2, Keyzer

Street, Colombo 11, which is also the registered address of the subject.

· Operational Details.

General

The primary line of business of the subject is not known or not disclosed.

Products

Not disclosed

Import Countries

Not disclosed

No of Employees

Not disclosed

· Financial Data

Subject company has been incorporated only a few moths (4 months) back and it appears that the business not yet commenced, as we could not locate the subject at the given address.

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

· 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.54.37
UK Pound	1	Rs.82.07
Euro	1	Rs.70.03

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%)

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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.