MIRA INFORM REPORT

Report No. :	321272
Report Date :	16.05.2015

IDENTIFICATION DETAILS

Name :	YUS EXIM (PVT) LTD
Registered Office :	# 340/35, K. Cyril C. Perera Mawatha, Colombo 13
Country :	Sri Lanka
Date of Incorporation :	18.12.2007
Com. Reg. No.:	PV 62440
Legal Form :	Private Limited Liability Company (In Operation)
Line of Business :	Import & Distribution of Food Products.
No. of Employees :	20 (Approximately)

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:

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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	:	YUS EXIM (PVT) LTD
b.	Legal Form & Status	:	Private Limited Liability Company (In Operation)
c.	Chairman/MD	:	Annamalai Sivakumar
d.	Primary Line of Business	:	Import & Distribution of Food Products.
e.	Head Office & Place of Business	:	# 340/35, K. Cyril C. Perera Mawatha, Colombo 13, Sri Lanka. Tel : (00 94 11) 238 4089 E-mail: yusexim@gmail.com Contact Person: (00 94 77) 308 2842 (Kularathnam Thiyageshwara)
f.	No. of Employees	:	Not disclosed

COMPANY DETAILS - Registration and Shareholder Details

a.	Registration No	:	PV 62440
	Date of Registration	:	18^thDecember 2007
b.	Registered Address	:	# 340/35, K. Cyril C. Perera Mawatha,Colombo 13,Sri Lanka.
c.	Board of Directors As At 31^st December 2012	:	Annamalai Sivakumar	Managing Director
			Kularathnam Thiyageshwaran	Director
d.	Issued Share Capital	:	Rs. 200.00
	Number of Shares	:	02
e.	Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007

f.	Share Holders As At 31^st December 2012	:	Share Holders	No. of Shares
			Govindhan Muthuramalingam	01
			Balakrishnan Suyambalingam	01
g.	Auditors	:	Alexander and Vaz (#114/4, St Benedict’s Mawatha, Colombo 13)
h.	Company Secretaries	:	S.R. Secretarial Services (Pvt) Ltd (#114/4, St Benedict’s Mawatha, Colombo 13)
i.	Bankers	:	Commercial Bank
j.	Import Details	:	Importing finished goods from India, Pakistan and China

· Directors Details

01)

Name	Annamalai Sivakumar
ID Number	660591958 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	28^th February 1966
Age	49 Years
Address	#109,2/2, New Chetty Street, Colombo 13

02)

Name	Kularathnam Thiyageswaran
ID Number	79164680 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	12^th June 1979
Age	35 Years
Address	#49/39 H2, Raththaranwatta, Hendala, Wattala

FINANCIAL DETAILS - Most recent available Financial Information

The company has declined to provide information on its finances

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

o History.

The Subject Company YUS EXIM (PVT) LTD is a Private Limited Liability Company incorporated on 18^th December 2007 under registration number PV 62440

o Location.

The Subject Company is located at the client # # 340/35, K. Cyril C. Perera Mawatha, Colombo 13, Sri Lanka.

o Operational Details.

General

The subject company primary line of business is Import & Distribution of Food Products.

Import Products

Rice, Oil

Import Countries

Hong Kong, India, China

No Employees

20 (Approximately)

o Trade references

Not made available by the subject company

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Kularathnam
Designation :	Director
Contact No.:	(00 94 11) 238 4089
Date :	14.05.2015

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.100.30
Euro	1	Rs.72.38

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KAR
Report Prepared by :	VNT

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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