MIRA INFORM REPORT

Report Date :

29.03.2013

IDENTIFICATION DETAILS

Name :	ASTER TELESERVICES LANKA (PVT) LTD

Registered Office :	# 42-14 1/2, Ananda Coomaraswamy Mawatha, Colombo 03

Country :	Sri Lanka.

Date of Incorporation :	14.01.2008

Com. Reg. No.:	PV 62700

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Engineering Services

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

(31.03.2012)

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	:	ASTER TELESERVICES LANKA (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	P.K. Naidu Maradana
d.	Primary Line of Business	:	Engineering Services
e.	Head office & Place of Business	:	# 42-14 1/2, Ananda Coomaraswamy Mawatha, Colombo 03 Sri Lanka. Tel.Fax No: (00 94 11) 256 4433 Email: thilinib@atspl.com
f.	No. of Employees	:	Not Disclosed

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	PV 62700
	Date of Registration		14^th January 2008
c.	Registered Office	:	# 42-14 1/2, Ananda Coomaraswamy Mawatha, Colombo 03
d.	Board of Directors As at 28 September 2012	:	P.K. Naidu Maradana	Managing Director
			S. Sheshadri Raman	Director
e.	Issued Share Capital	:	Rs. 27,255,000.00
f.	Nominal Value of Share	:	Rs. 10.00
g.	Share Holders As at 28th September 2012	:	Share Holders		No. of Shares
			Aster (Pvt) Ltd		2,725,549
			K. Rao Uppala		01
h.	Auditors	:	SJMS Associates
i.	Company Secretaries	:	Ashley Saint Chris
k.	Bankers	:	Not Disclosed

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

Company Logo

· History

The Subject Company ASTER TELESERVICES LANKA (PVT) LTD is a Private Limited liability Company incorporated on 14^th January 2008 under registration number PV 62700.

· Location.

The subject company is located at client # 42/14, Ananda Coomaraswamy Mawatha, Colombo 03

· Operational Details.

General

The subject company primary line of business is Engineering Services

Products & Services

Design and Supply of Transmission Towers

Transmission Lines Construction

Transformers

Telecom Project Management Services

Engineering Services

Operations & Maintenance

Telecom Shelters

Railway Structural Projects

Power Plant Structures

Country

India, Middle East and Africa

Employees

Not Disclosed

· Directors Details

01)

Name	P.K. Naidu Maradana
PP Number	H 5020128
Nationality	Indian

02)

Name	S. Sheshadri Raman
PP Number	J 5063599
Nationality	Indian

· 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

· 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 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.54.38
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

NLM

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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