MIRA INFORM REPORT

Report Date :

15.11.2014

IDENTIFICATION DETAILS

Name :	ROYAL CASKS DISTILLERIES (PVT) LTD
Formerly Known As :	NIPPON LANKA DISTILLERIES PVT LTD.
Registered Office :	# 324/1,, High Level Road, Galagedara, Padukka
Country :	Sri Lanka
Date of Incorporation :	12.06.2009
Com. Reg. No.:	N (PVS) 47846
Legal Form :	Private Limited Liability Company (In Operatiion)
Line of Business :	Distilling, Manufacturing, Importing & Distributors of Liquor Products
No of Employees :	Not Available

NOTES :

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ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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. 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

1) GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	ROYAL CASKS DISTILLERIES (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Managing Director	:	G.D. Vajirapani Gunasekera
d.	Primary Line of Business	:	Distilling, Manufacturing, Importing & Distributors of Liquor products
e.	Place of Business		# 324/1,, High Level Road, Galagedara, Padukka, Sri Lanka. Tel. No: (00 94 11) ) Not Disclosed/Available Fax. No: (00 94 11) ) Not Disclosed/Available
g.	No. of Employees	:	Not Disclosed/Available

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	N (PVS) 47846
	Re-registration No	:	PV 13986
	Date of Re-registration		12^th June 2009
c.	Registered Office	:	# 324/1, High Level Road, Galagedara, Padukka
d.	Board of Directors As At 14^th October 2013	:	G.D. Vajirapani Gunasekera	Managing Director
			A.H. Piumi Palika Gunasekera	Director
e.	Issued Share Capital	:	Rs. 70.00
	Number of Shares	:	07
f.	Nominal Value of Share	:	10
h.	Share Holders As At 14^th October 2013	:	Share Holders			No. of Shares
			A.H. Piumi Palika Gunasekera		02
		:	G.D. Vajirapani Gunasekera		05
i.	Auditors	:	B V Fernando & Company
j.	Company Secretaries	:	Brai Consultants (Pvt) Ltd
k.	Bankers	:	Not Disclosed

Director’s Details

01)

Name	A.H. Piumi Palika Gunasekera
ID Number	725010605 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	01^st January 1972
Age	42 Years
Address	# 104/3, Katuwawala, Boralesgamuwa

02)

Name	G.D. Vajirapani Gunasekera
ID Number	693573971 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	22^nd December 1969
Age	45 Years
Address	# 68/C, Katuwawala, Boralesgamuwa

CURRENT INVESTIGATION

· History.

The Subject Company ROYAL CASKS DISTILLERIES (PVT) LTD is a Private Limited Liability Company incorporated under the registration number N (PVS) 47846 and then company has been re-registered o 12^th June 2009 under the registration number PV 13986.

The subject company earlier known as a NIPPON LANKA DISTILLERIES COMPANY (PVT) LTD it changed on 17^th October 2013

· Location.

The Subject Company is located at client # 324/1, High Level Road,

Galagedara, Padukka

The subject company has also not been listed in any of the telephone directories and as

Such no contact number is available.

· Operational Details.

General

The subject company’s primary line of business is Distilling, Manufacturing, and Importing & Distributors of Liquor products

Products

Liquor Products

Employees

Not Disclose

· Trade references

Not Available

· 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 computerized 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.61.65
UK Pound	1	Rs.96.54
Euro	1	Rs.76.70

INFORMATION DETAILS

Report Prepared by :

TPT

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