MIRA INFORM REPORT

Report Date :

26.11.2014

IDENTIFICATION DETAILS

Name :	AROMA NATURAL RUBBER (PVT) LTD
Registered Office :	Nagurugama, Mawanella
Country :	Sri Lanka
Date of Incorporation :	09.11.2010
Com. Reg. No.:	PV 75394
Legal Form :	Private Limited Liability Company [In Operation]
Line of Business :	Manufacturer & Exporter of Natural Rubber.
No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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	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

GENERAL - Basic information at a glance

a.	Name of Subject of Inquiry	:	AROMA NATURAL RUBBER (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Chairman	:	M.S. Mohamed Najeeb
d.	Primary Line of Business	:	Manufacturers & Exporters of natural rubber
e.	Head Office & Factory	:	Nagurugama, Mawanella, Sri Lanka. Mobile No :(00 94 77) 755 9918 Tel No :(00 94 35) 224 8050 Fax :(00 94 35) 224 7942 Email: aroma_rb@yahoo.com / info@aromanaturalrubber.com
f.	Shop		# 109, Main Street, Mawanella, (Sabaragamuwa Province) Sri Lanka. Mobile No :(00 94 77) 786 0073 Fax :(00 94 35) 224 6648
g.	No. of Employees	:	-Not Disclosed-

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	PV 75394
	Date of Registration	:	9^th November 2010
b.	Registered Office	:	# 71500 , Keraminiya Watta, Mawanella, Sri Lanka.
c.	Board of Directors As At 24^th January 2013 ( Updated details of other directors not available due to relevant file not found at the ROC)		M.S. Mohamed Najeeb	Chirman
			M.S. Riyal Bacha	Director
			M.N. Mohamed Nifkhan	Director
d.	Issued Share Capital	:	Rs. 1000.00
e.	Nominal Value of Share	:	Rs. 10.00
f.	Share Holders As At 24^th January 2013	:	Share Holders		No. of Shares
			M.S. Mohamed Najeeb		60
			M.S. Riyal Bacha		40
g.	Auditors	:	Faizal & Company
h.	Company Secretaries	:	G.A. Samarasekara
i.	Bankers	:	Not Disclosed

Current investigation

· History.

The Subject Company AROMA NATURAL RUBBER (PVT) LTD is a Limited Liability Company, in operation, has been registered on 09^h November, 2010 under Registration No: PV 75394.

(Note: At present a re-organization process in the office of the Registrar of Companies with regard to the data base in underway and company files are removed daily in batches for that purpose. As such the relevant file of this subject too has been removed and it is not available for reference. Authorities do not inform us when the file will be made available to us for scrutiny but daily we keep on checking until it is found.)

· Location.

The Subject Company AROMA NATURAL RUBBER (PVT) LTD is located at Nagurugama, Mawanella, Sri Lanka. The client # Keraminiya Watta, Mawanella 71500, Sri Lanka is the registered address of the subject company. Their Shop is Located at #109, Main Street, Mawanella, ( Sabaragamuwa Province), Sri Lanka.

The Location is predominantly rubber growing area on the Colombo – Kandy Highway 1 and is approx. 75 kilo meters From Colombo.

· Operational Details.

General

The subject company’s primary line of business is manufacture and Exporting of natural rubber.

Products

Natural Rubber

· TPC 1X, 1, 2, 3, 4

· RSS 1, 2, 3, 4, 5

· Brown crepe 1X, 2X, 3X, 4X

· Skim crepe

· Sole crepe

· SLR-10

· SLR-20

· SLR-50

No of Employees

-Not Disclosed-

· Trade references

The subject company did not provide any trade references

· 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.

INFORMATION DECLINED

Management non co-operative [00 9477 7559918]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.92
UK Pound	1	Rs.97.12
Euro	1	Rs.76.93

INFORMATION DETAILS

Information Gathered by :	JML
Analysis Done by :	KAR
Report Prepared by :	TPT

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.