MIRA INFORM REPORT

Report Date :

14.05.2014

IDENTIFICATION DETAILS

Name :	DIGISCAN PRINTING & PACKAGING (PVT) LIMITED

Registered Office :	# 30, Campus Road, Rattanapitiya, Boralasgamuwa

Country :	Sri Lanka

Date of Incorporation :	29.07.2003

Com. Reg. No.:	PV 15690

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Manufacture of a wide range of flexible packaging for Local markets

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Sri Lanka

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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	:	DIGISCAN PRINTING & PACKAGING (PVT) LIMITED
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	Jude Roshan Fernando
d.	Primary Line of Business	:	Manufacture of a wide range of flexible packaging for Local markets
e.	Head Office & Place of Business	:	# 30, Campus Road, Rattanapitiya, Boralasgamuwa, Sri Lanka. Tel. No: (00 94 11) 430 8731 - 2 Fax No: (00 94 11) 430 8730 E Mail: digiscan@sol.lk
g.	No. of Employees	:	Not Disclosed

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	N (PVS) 34549
	Date of Registration	:	29^th July 2003
b.	Re -Registration No		PV 15690
	Date of Re -Registration		31^st August 2009
c.	Registered Office	:	# 30 Campus Road, Rattanapitiya, Boralasgamuwa.
d.	Board of Directors As At 31^st December 2013	:	Jude Roshan Fernando	Managing Director
			A. A. Rasika Prageeth Amarasinghe	Director
i.	Issued Share Capital	:	Rs. 20.00
	No. of Shares	:	02
j.	Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007
k.	Share Holders As At 31^st December 2013	:	Share Holders		No. of Shares
			Mr. Jude Roshan Fernando		01
			A. A. Rasika Prageeth Amarasinghe		01
e.	Auditors	:	Zain Weerasinghe and Company
f.	Company Secretaries	:	Supreme Secretarial Services (Pvt) Ltd
g.	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

History.

The Subject Company DIGISCAN PRINTING & PACKAGING (PVT) LTD is a Private Limited liability Company incorporated on 29^th July 2003 under registration number N (PVS) 34549 and the company has been re-registered on 31^st August 2009 under registration number PV 15690, in terms of Companies Act #7 of 2007.

Location.

The Subject Company is located at the client # 30 Campus Road, Rattanapitiya, Boralasgamuwa

Operations Details.

General

The subject company primary line of business is Manufacture of a wide range of Flexible packaging for Local markets

The subject company have earned certified by ISO 9001 2008 Certification

Clients

Bank of Ceylon

Peoples Bank

Commercial Bank

Seylan Bank

Sri Lanka Insurance

Union Assurance

Janashakthi Insurance

Sri Lanka Telecom

Keels Super

DSI

Dialog

Airtel

Products

Paper Products, Electrical & Electronic

No of Employees

Not Disclosed

Directors Details

01)

Name	Jude Roshan Fernando
ID Number	723494788 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	14^th December 1972
Age	41 Years

02)

Name	A. A. Rasika Prageeth Amarasinghe
ID Number	751960310 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	14^th July 1975
Age	38 Years

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.88
UK Pound	1	Rs.100.98
Euro	1	Rs.82.40

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	NNA

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

MIRA INFORM REPORT

GENERAL

COMPANY DETAILS

FINANCIAL DETAILS

CURRENT INVESTIGATION

Unit