MIRA INFORM REPORT

Report Date :

30.12.2014

IDENTIFICATION DETAILS

Name :	N.P.K. TRADERS

Registered Office :	# 30, Old Moor Street, Colombo – 12

Country :	Sri Lanka

Year of Establishments :	2008

Com. Reg. No.:	Not Available

Legal Form :	Proprietorship Concern

Line of Business :	Engaged in Import, Distribution and wholesaler of all kinds of Food items such as Onions, Lentils, Sugar & Garlic and also functioning as a Commissioned Agent.

No of Employees :	Approximately 07

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 – 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

GENERAL

Basic information at a glance

Name of Subject of Inquiry	:	N.P.K. TRADERS
Legal Form & Status	:	Proprietorship Concern (In Operation)
Managing Proprietor	:	Kannan
Primary Line of Business	:	Engaged in Import, Distribution and wholesaler of all kinds of Food items such as Onions, Lentils, Sugar & Garlic and also functioning as a Commissioned Agent.
Place of Business	:	# 30, Old Moor Street, Colombo – 12, Sri Lanka. Tel. No: (00 94 11) 233 6432, 434 5804 Mobile No: (00 94 77) 793 2223 (Mr. Kannan) E-mail: npk30oms@gmail.com
No. of Employees	:	Approximately 07

CONCERN DETAILS

Registration and Shareholder Details

Registration No	:	Not Disclosed
Year of Registration	:	2008
Registered Office	:	# 30, Old Moor Street, Colombo – 12
Proprietor	:	Mr. Kannan	Managing Proprietor
Auditors	:	Not Disclosed
Bankers	:	Not Disclosed

FINANCIAL DETAILS

Most recent available Financial Information

THE CONCERN HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Based on the corporate laws of Sri Lanka, legal entities which are Private Concern with Limited Liability/Partnership/Proprietorships are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity

CURRENT INVESTIGATION

· History.

The Subject Concern N.P.K. TRADERS is a Proprietorship Concern in operation.

When our investigator visited the subject concern, the managing proprietor of the Subject Concern he declined to provide detailed information of the Subject Concern without knowing the details of the end user of this report

The Proprietorship/ Partnership companies are being registered at the Provincial Registrar of Companies and when the owner/partner does not provide the registration details it is not possible to extract such details from the Registrar’s office to verify the authenticity.

· Location.

The Subject Concern is located at the # 30, Old Moor Street, Colombo – 12, one of the

Main business places in Colombo.

· Operational Details.

General

The subject concern’s primary line of business is engaged in Import, Distribution and wholesaler of all kinds of Food items such as Onions, Lentils, Sugar & Garlic and also functioning as a Commissioned Agent.

Products

All kinds of Food items such as Onions, Lentils, Sugar & Garlic

Import Country

India

Employees

The employee strength of the subject concern is approximately 07.

· Trade references

The subject concern did not provide any trade reference referrals

· Credit Recommendations

Since no financial information has been forthcoming from the concern, it is not possible to comment on the merits or otherwise of the concern.

No computerised data bases exist to make checks whether the partners or the concern 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 BY

Name: Mr. Kannan

Designation Managing Proprietor

Contact No.: (00 94 11) 2336432

ANALYSIS & RATING

Appraisal and Rating of Subject Concern

Rating:
a) Business Scale	Small
b) Market Situation	Very Competitive

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

Analysis Done by :	RAS

Report Prepared by :	MNL

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.