MIRA INFORM REPORT

Report No. :	316184
Report Date :	23.04.2015

IDENTIFICATION DETAILS

Name :	G T R PAPERS (PVT.) LTD

Registered Office :	# 83, Sadasiripura, Athurugiriya

Country :	Sri Lanka

Date of Incorporation :	15.03.2007

Com. Reg. No.:	PV 354

Legal Form :	Private Limited Liability Company (In operation)

Line of Business :	Subject is engaged in All Kinds of Printing Papers & Boards

No. of Employee :	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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

a.	Name of Subject of Inquiry	:	G T R PAPERS (PVT.) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In operation)
c.	Proprietor	:	M.P Ranjith Premakumara
d.	Primary Line of Business	:	All Kinds of Printing Papers & Boards
e.	Office & Place of Business	:	#105/2, Sarasavi Gardens, Nawala Road, Nugegoda. Sri Lanka. Tel No: (00 94 11) 444 4691 Fax No:(00 94 11) Mobile:(00 94 77) Email:
f.	No. of Employees	:	Not disclosed

COMPANY DETAILS

- Registration and Shareholder Details

a.	Registration No		:	N (PVS) 49917
	Date of Registration		:	15^thMarch 2007
b.	Re-Registration No		:	PV 354
	Date of Re-Registration		:	11^th October 2007
c.	Registered Office		:	# 83, Sadasiripura, Athurugiriya
d.	Board of Directors As At 14^th October 2014		:	M.P. Ranjith Premakumara	Managing Director
				T.A. Thushara	Director
e.		Issued Share Capital	:	Rs. 5,500,100
		No. Of Shares		500,000
f.		Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007.
g.		Share Holders As at 14^th October 2014		Share Holders	No. of Shares
				M.P. Ranjith Premakumara	167,500
				T.A. Thushara	82, 500
				Kamal Chandralal Jayawardena	125, 000
				Janath Priyanka Heenatigala	125, 000
h.		Auditors	:	I R Associates (#497, Havelock Place, Colombo – 06)
i.		Company Secretaries	:	Corporate Affairs (Pvt) Ltd (# 24/2, Sri Siddhartha Road, Colombo – 05)
j.		Bankers	:	No Disclosed

CURRENT INVESTIGATION

History.

The Subject Company G T R PAPERS (PVT.) LTD is Private Limited Liability Company, in operation.

Location.

The office and the place of business are located at the client given # 83, Sadasiripura, Athurugiriya

This is also the registered address of the company.

Operational Details.

General

The main line of business of the subject company is import and distribution of all kinds of Printing Paters and Boards.

Products/Services

All kinds of Printing Papers & boards

No. of Employees:

Not disclosed

Directors’ Details

01)

Name	M.P. Ranjith Premakumara
ID Number	681881220 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	06^TH July 1968
Age	47 years
Address	# 155 I, Kanduboda Estate, Kanduboda, Delgoda

02)

Name	T.A. Thushara
ID Number	72311870 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	06^th November 1972
Age	43 years
Address	# 83, Sadasiripura, Athurugiriya

Financial Data

The subject company declined to provide information on its finances without knowing the identity

of the end user of this report.

Further, In Sri Lanka, private companies do not publish their accounts for public use other

Than the shareholders.

Trade references

The subject company did not provide any trade reference referrals.

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

MANAGEMENT NON CO-OPERATIVE

CONTACT NO.: (009411) 4444691

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.82
UK Pound	1	Rs.93.85
Euro	1	Rs.67.59

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ANK

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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