MIRA INFORM REPORT

Report Date :

30.12.2014

IDENTIFICATION DETAILS

Name :	AMRO SUGARS

Registered Office :	# 187, 05^th Cross Street, Colombo 11

Country :	Sri Lanka

Date of Incorporation :	31.12.2007

Com. Reg. No.:	WA 76553

Legal Form :	Partnership Company

Line of Business :	Importers and trader of agro commodities.

No. of Employees :	60

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 :	No complaints
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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

Company name and address

a.	Name of Subject of Inquiry	:	AMRO SUGARS
b.	Legal Form & Status	:	Partnership Company (In Operation)
c.	Managing Partner	:	Perumal Sivarajah
d.	Primary Line of Business	:	Importers and trader of agro commodities.
e.	Head Office & Place of Business	:	# 187, 05^th Cross Street, Colombo 11, Sri Lanka. Tel. No: (00 94 11) 242 4063 / 471 4019 Fax No: (00 94 11) 242 4062 Mobile: (00 94 77) 7 877 498 (Mr. Vasudevan) E-mail: citycmb@wow.lk amrosugar@yahoo.com Area : 6000 sq ft
f.	No. of Employees	:	Approximately 60

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No		:	WA 76553
b.	Date of Registration		:	31^st December 2007
c.	Registered Office		:	# 187/2, 05^th Cross Street, Colombo 11
d.	Partners		:	Perumal Sivarajah	Managing Partner
				Ammeiappan Ajith Vasudevan	Partner
				Sivarajah Jegatheeswaran	Partner
e.	Auditors	:		-Not Disclosed-
f.	Bankers		:	Commercial Bank PLC, Peta Branch Sampat Bank, Peta Branch
g.	Trading terms		:	Purchasing term : Cash and Credit Sales Term : Cash and Credit

Details of Partners

01)

Name	Perumal Sivarajah
ID Number	531564936V
Nationality	Sri Lankan
Date of Birth	4^th June, 1953
Age	61 Years

02)

Name	Ammeiappan Ajith Vasudevan
ID Number	653154089V
Nationality	Sri Lankan
Date of Birth	10^th November 1965
Age	49 Years

03)

Name	Sivarajah Jegatheeswaran
ID Number	773260346V
Nationality	Sri Lankan
Date of Birth	21^st November 1977
Age	37 Years

FINANCIAL DETAILS

Most recent available Financial Information

The company has declined to provide information on its finances without the identity of the end

user of the enquiry saying that they are having long time regular suppliers.

However, considering the particular trading segment the company is involved, it can be expected

for the company to expect good income prospects

(Note: Based on the corporate laws of Sri Lanka, legal entities which are Private Company with

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

financials.)

SALES TURNOVER

2013-2012 700.000 Millions

CURRENT INVESTIGATION

History.

The Subject Company AMRO SUGARS is a Partnership Company incorporated on 31^st December 2007 under registration number WA 76553.

Location.

The Subject Company is located at the client # 187, 05^th Cross Street,

Colombo 11, Sri Lanka, one of the prominent business areas in the Colombo city.

Operations Details

General

The subject company primary line of business is Importers and trader of agro commodities.

Products

Canned Foods, Packet Foods

Sugar, Lentils, Chilies, Chickpeas, Split Peas, Coriander, Mung Beans, Garlic, Fennel Seeds,

Rice

Importing Countries

India, China, Taiwan, Australia, Bulgaria, Thailand, Turkey, Brazil,

Exporting Countries

Sri Lankan Spices are exported to European Countries, Canada.

Employees

Approximately 60

Trade references

Not Disclosed

Information parted by

NAME	Mr. NIRMAL
DESIGNATION	ACCOUNTS OFFICE
CONTACT NOS	0094112424063

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.65
UK Pound	1	Rs.99.14
Euro	1	Rs.77.60

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	SUB

Report Prepared by :	NIS

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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