MIRA INFORM REPORT

Report Date :

03.05.2013

IDENTIFICATION DETAILS

Name :	Aminovit (Pvt) Ltd
Formerly Known As :	QUALITY FEEDS (PVT) LTD
Registered Office :	# 28, Minuwangoda road, Ekala, Ja-Ela
Country :	Sri Lanka
Date of Incorporation :	01.12.2010
Com. Reg. No.:	PV 75785
Legal Form :	Private Limited Liability Company (In Operation)
Line of Business :	Manufacturing and Export of Animal Poultry Feeds Premix.
No. of Employees :	Approximately 20

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

GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	AMINOVIT (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	G. Bangarusamy Sundarajan
d.	Primary Line of Business	:	Manufacturing and Export of Animal poultry feeds premix.
e.	Head office & Place of Business	:	# 28,Minuwangoda Road, Ekala, Ja-Ela, Sri Lanka. Tel. No: (00 94 11) 222 8541 Fax No: (00 94 11) 222 8541 E-mail: qualityfeeds2011egmail.com oceanfeeds@gmail.com
f.	No. of Employees	:	Approximately 20

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	PV 75785
b.	Registration Date	:	01^st December 2010
c.	Registered Office	:	# 28, Minuwangoda road, Ekala, Ja-Ela, Sri Lanka.
d.	Board of Directors As At 12^th July 2012	:	G. Bangarusamy Sundarajan	Managing Director
			Subramanian Kannan	Director
			B. Soundarajan	Director
e.	Issued Share Capital	:	Rs. 200,000,000.00
f.	Nominal Value of Share	:	Rs. 10.00
g.	Share Holders As At 12^th July 2012	:	Share Holders		No. of Shares
			G. Bangarusamy Sundarajan		01
			Subramanian Kannan		19,999,998
			B. Soundarajan		01
h.	Auditors	:	Kanesalingam & Company
i.	Company Secretaries	:	EM and EN Agents & Secretaries (Pvt) Ltd
j.	Bankers	:	Not disclosed

CURRENT INVESTIGATION

· History

The Subject Company AMINOVIT (PVT) LTD is a Private Limited Liability Company incorporated on 01^st December 2010 under Registration number. PV 75785.

The subject company AMINOVIT (PVT) LTD is an earlier known as a QUALITY FEEDS (PVT) LTD it changed on 20th July 2012

· Location

The subject company is located at the client # 28, Minuwangoda Road, Ekala, Ja-Ela.

· Operations Details

General

The Subject Company primary line of business is Manufacturing & Export of Animal poultry feeds premix.

Products

Animal Poultry feed

Export Countries

India, China and South Asian countries

Employees

Approx.20

· Directors Details

01)

Name	G. Bangarusamy Sundarajan
PP Number	F 4301201
Nationality	India

02)

Name	Subramanian Kannan
PP Number	H 2604563
Nationality	India

03)

Name	B. Soundarajan
PP Number	E 7677709
Nationality	India

· 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.53.74
UK Pound	1	Rs.83.54
Euro	1	Rs.70.72

INFORMATION DETAILS

Report Prepared by :

NIT

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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