MIRA INFORM REPORT

Report Date :

03.12.2014

IDENTIFICATION DETAILS

Name :	FIVE STAR RICE MILL (PVT) LTD

Registered Office :	Puliyankulama, Vijithapura

Country :	Sri Lanka

Date of Incorporation :	12.09.2007

Com. Reg. No.:	PV 61368

Legal Form :	Private Limited Liability Company

Line of Business :	Trader and Importer of Maize

No of Employees :	5 (Approximately)

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 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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. 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, but strong remittances from Sri Lankan workers abroad help offset the trade deficit. Government debt of about 80% of GDP remains among the highest in emerging markets.

Source : CIA

GENERAL

Basic information at a glance

a.	Name of Subject of Inquiry	:	FIVE STAR RICE MILL (PVT) LTD
b.	Legal Form & Status	:	Private limited liability company
c.	Managing Director	:	Anthony Priyadharshana Wijesinghe
d.	Primary Line of Business	:	Trader and Importer of Maize
e.	Place of Business	:	Puliyankulama, Vijithapura, Sri Lanka. Tel. No.: (00 94 77) 230 3794
f.	No. of Employees	:	5 (Approximately)

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No		:	PV 61368
	Date of Registration		:	12^th September 2007
c.	Registered Office		:	Puliyankulama, Vijithapura
d.	Board Of Directors As at 31^st December 2010		:	Anthony Priyadharshana Wijesinghe	Managing Director
				E.M. Ruwani Perera	Director
f.	Issued Share Capital		:	Rs. 20.00
	Number of Shares		:	02
g.	Nominal Value of Share		:	Rs. 10.00
h.	Share Holders As at 31^st December 2010		:	Share Holders	No of Shares
				Anthony Priyadharshana Wijesinghe	01
				E.M. Ruwani Perera	01
i.	Secretaries	:		M. Chandrasoma Perera
j.	Auditors	:		A.N.B. Perera & Company
k.	Bankers		:	Not Disclosed

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 FIVE STAR RICE MILL (PVT) LTD is a Private Limited liability Company incorporated on 12^th September 2007 under registration number PV 61368.

· Location.

The Subject Company client Puliyankulama, Vijithapura.

This subject company is not listed in telephone directory and no contact number found

· Operational Details.

General

The subject company’s primary line of business is Trader and Importer of Maize, it refused to disclose the operational address or the shop.

Products

Maize

Employees

5 (Approximately)

Imports Countries

India

Trading Terms

Purchasing Terms: Cash and Cheque

Selling Terms: Cash and Cheque

Types of Customers

Retailers and End Users

· Directors Details

01)

Name	Anthony Priyadharshana Wijesinghe
ID Number	612682275 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	24th September 1961
Age	53 Years
Address	Kaduruwewa, Bingiriya

02)

Name	E.M. Ruwani Perera
ID Number	667121884 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	30th July 1966
Age	48 Years
Address	Kaduruwewa, Bingiriya

· 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.

INFORMATION PARTED (General Details)

Name :	Mr. Upendran
Designation :	Accountant
Contact No.:	(00 94 77) 230 3794
Date :	02.12.2014

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.93
UK Pound	1	Rs.97.39
Euro	1	Rs.77.21

INFORMATION DETAILS

Information Gathered by :	GYA

Analysis Done by :	SUB

Report Prepared by :	SMN

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