MIRA INFORM REPORT

Report No. :	316627
Report Date :	21.04.2015

IDENTIFICATION DETAILS

Name :	ALI BROTHERS (PVT) LTD
Registered Office :	# 228, Layards Broadway, Colombo 14
Country :	Sri Lanka
Date of Incorporation :	26.04.1995
Com. Reg. No.:	PV 3399
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is Import and distribute of all kind of Motor vehicles, palm oil and export of rubber
No. of Employee :	200

RATING & COMMENTS

MIRA’s Rating :

B

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	:	ALI BROTHERS (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In operation)
c.	Managing Director	:	Naeem Mohamed Hyder Ali
d.	Primary Line of Business	:	Import and distribute of all kind of Motor vehicles, palm oil and export of rubber
e.	Head Office & Place of Business	:	# 228, Layards Broadway, Colombo 14. Sri Lanka. Tel. No: (00 94 11) 233 0207 – 8 / 243 9493 Fax No: (00 94 11) 254 1104 E-mail: alibros@slt.lk
f.	No. of Employees	:	Approx.200

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	N (PVS) 14843
	Date of Registration	:	26^th April 1995
b.	Re-registration No	:	PV 3399
	Date of Re-registration	:	21^st April 2008
c.	Registered Office	:	# 228, Layards Broadway, Colombo 14
d.	Board Of Directors As At 20^th August 2014	:	Naeem Mohamed Hyder Ali	Managing Director
			Naeem Mohamed Asad Ali	Director
			M. Illyas Mohamed Minhar	Director
			M. Naeem Ali	Director
			Umar Aliu Hyder Ali	Director

Registration and Shareholder Details Cont…

e.	Issued Share Capital		:	Rs. 91,600,000.00
	Total Issued Shares		:	9,160,000
f.	Nominal Value of Share		:	Not disclosed/stated vide Companies Act #7 of 2007
g.	Share Holders As At 20^th August 2014		:	Share Holders	No of Shears
				Naeem Mohamed Hyder Ali	4,330,000
				Naeem Mohamed Asad Ali	4,330,000
				M. Illyas Mohamed Minhar	500,000
h.	Secretaries	:		Seccom (Pvt) Ltd
i.	Auditors	:		Weerasinghe and Company
j.	Bankers		:	Peoples Bank, Bank of Ceylon

Directors’ Details

1)

Name	Naeem Mohamed Hyder Ali
ID Number	600481550 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	17^th February 1960
Age	55 Years
Address	#410/12, Galle Road, Colombo 03

2)

Name	Naeem Mohamed Asad Ali
ID Number	622441955 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	28^th August 1962
Age	52 Years
Address	#108, Fife Road, Colombo 05

3)

Name	M. Illyas Mohamed Minhar
ID Number	713370428 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	2^nd December 1971
Age	43 Years
Address	#228, Leyards Broadway, Colombo 14

4)

Name	M. Naeem Ali
ID Number	752772088 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	3^rd October 1975
Age	39 Years
Address	#228, Leyards Broadway, Colombo 14

5)

Name	Umar Aliu Hyder Ali
ID Number	860082187 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	8^th January 1986
Age	29 Years
Address	#410/12, Galle Road, Colombo 03

FINANCIAL DETAILS

Most recent available Financial Information

The company has declined to provide information on its finances without the identity of the end user.

Note: 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 ALI BROTHERS (PVT) LTD is a Private Limited liability Company incorporated on 26^th April 1995 under registration number N (PVS) 14843 and the company was re-registered on 21^st April 2008 under registration number PV 3399.

· Location.

The Subject Company is located at the client # 228, Leyards Broadway, Colombo 14.

Subject is having several sales centres in and outside Colombo city and outstations Kandy and Wattala. It has a Palm Oil Storage Tank in Wattala.

· Operations Details.

General

The subject company primary line of business is Import and distribute of all kind of vehicles, palm oil and export of rubber

Products

o Vehicles – HONDA, SUZUKI, TOYOTA, MAZDA, NISSAN, Mitsubishi, ABL Truck, BMW

o Natural Rubber- Sheet Rubber

o Palm Oil

o “Sumatra” Brand Cement

Import Countries

Motor vehicles imported from Japanese, Korean and Chinese

Palm oil from India, Indonesia

Exporting Countries:

Europe. Japan, Malaysia, Indonesia, Vietnam etc

Employees

Approx.200

· Trade references

Kobe Motor Company, Japan

The National Chamber of Commerce of Sri Lanka

· 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 computerised 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 DENIED BY

Name :	Mr. Rusby
Designation :	Account Executive
Contact No.:	009411-2330207
Date :	21.04.2015

OREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.56
UK Pound	1	Rs.93.56
Euro	1	Rs.67.49

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RAS
Report Prepared by :	ASH

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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