MIRA INFORM REPORT

Report Date :

31.10.2014

IDENTIFICATION DETAILS

Name :	MULTI CHEM AGRO SERVICES (PVT) LTD

Registered Office :	# 118, Negombo Road, Nawana, Mirigama

Country :	Sri Lanka

Date of Incorporation :	15.10.2012

Com. Reg. No.:	PV 88859

Legal Form :	Public Limited Liability Company (In Operation)

Line of Business :	Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

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	:	MULTI CHEM AGRO SERVICES (PVT) LTD
Legal Form & Status	:	Public Limited Liability Company (In Operation)
Managing Director	:	S.M. Sisira Chandra Gunasekera
Primary Line of Business	:	Not Disclosed
Head office & Place of Business	:	# 34, Colombo Road, Kotadeniyawa, Sri Lanka. Tel. No: (00 94 11) Not Disclosed/Available Fax. No: (00 94 11) Not Disclosed/Available
No. of Employees	:	Not Disclosed

COMPANY DETAILS - Registration and Shareholder Details

Registration No	:	PV 88859
Date of Registration	:	15^th October 2012
Registered Office	:	# 118, Negombo Road, Nawana, Mirigama
Board of Directors As At 19^th November 2012	:	S.M. Sisira Chandra Gunasekera	Managing Director
		E.M. Achala Lalani Chandima Wijesundara (Ms)	Director
Issued Share Capital	:	Rs. 20.00
Nominal Value of Share	:	Rs. 10.00
Share Holders As At 19^th November 2012	:	Share Holders		No. of Shares
		S.M. Sisira Chandra Gunasekera		01
		E.M. Achala Lalani Chandima Wijesundara (Ms)		01
Auditors	:	Not Disclosed
Company Secretaries	:	S.M. Sisira Chandra Gunasekera
Bankers	:	Not Disclosed

Director’s Details

01)

Name	S.M. Sisira Chandra Gunasekera
ID Number	740580183 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	27^th February 1974
Age	40 Years

02)

Name	E.M. Achala Lalani Chandima Wijesundara
ID Number	745393373 V
Nationality	Sri Lankan
Gender	Female
Date of Birth	8^th February 1974
Age	40 Years

FINANCIAL DETAILS - Most recent available Financial Information

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 MULTI CHEM AGRO SERVICES (PVT) LTD is a

Public Limited Liability Company incorporated on 15^th October 2012 under registration

Number PV 88859.

· Location.

The client of the subject company # 34, Colombo Road,

Kotadeniyawa. Our investigator could not trace the given address.

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 details of the primary line of business of the subject company is not disclosed as yet

Product

Details not available.

No of Employees

Not Disclosed

Note

Unable to contact the company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.46
UK Pound	1	Rs.98.21
Euro	1	Rs.77.45

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	PDT

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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