MIRA INFORM REPORT

Report No. :	349818
Report Date :	26.11.2015

IDENTIFICATION DETAILS

Name :	PLYWOOD HOUSE (PVT) LTD.

Registered Office :	# 263, Colombo Road, Anguruwella, Kegalle

Country :	Sri Lanka

Date of Incorporation :	26.12.1995

Com. Reg. No.:	PV 3656

Legal Form :	Private Limited Liability Company. (In Operation)

Line of Business :	Importer & Manufacture of Plywood and Timber.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 government's 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, but low tax revenues remain a 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	:	PLYWOOD HOUSE (PVT) LTD.
b.	Legal Form & Status	:	Private Limited Liability Company. (In Operation)
c.	Managing Director	:	R.S.P.H.W.K.M.S.Ajith Marapana
d.	Primary Line of Business	:	Importer & Manufacture of Plywood and Timber.
e.	Place of Business	:	# 263, Colombo Road, Anguruwella, Kegalle, Sri Lanka. Tel. No: (00 94 35) 222 3236 Fax No: (00 94 35) 222 3236 Contact Person: (00 94 71) 683 0566 – Mr. Ajith E-mail : plywoodhouse@sltnet.lk
f	No. of Employees	:	Not Disclosed

COMPANY DETAILS

- Registration and Shareholder Details

a.	Registration No	:	N (PVS )16470
	Date of Registration	:	26^th December 1995
b.	Registration No		PV 3656
	Date of Registration		06^th May 2008
c.	Registered Office	:	# 263, Colombo Road, Anguruwella, Kegalle.
d.	Board of Directors As At 14^th March 2013	:	P.W.K. M. R. Srijantha Ajith		Managing Director
			W.W.R.Upali Wajekoon		Director
e.	Issued Share Capital	:	Rs. 8,520,010.00
f.	No of Shares	:	852,001
g.	Nominal Value of Share	:	Not applicable vide Companies Act #7 of 2007.
h.	Share Holders As At 14^th March 2013	:	Share Holders	No Of Shares Held
			M.R.S.P.H.W.M.R.Susantha	01
			W.W. Ralalage Upali	426,000
			M.R.S.P.H.W.M.R.S.Ajith	426,000
i.	Auditors	:	Ernst & Young Chartered Accountant (Colombo road, )
j.	Company Secretaries	:	E S Management (Pvt) Ltd (2^nd Floor, YMBA Building, Colombo 01)
k.	Bankers	:	National Development Bank PLC

Director’s Details

01)

Name	W.W.R.Upali Wijekoon
ID Number	563024062 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	28^th October 1956
Age	59 Years
Address	Vaththawela, Imburugasdeniya.

02)

Name	P.W.K. M. R. Srijantha Ajith
ID Number	571430452 V
Nationality	Sri Lankan
Gender	Male
Date of Birth	22^nd May 1957
Age	58 Years
Address	#21, Pussella Road, Kegalle.

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

History.

The Subject Company PLYWOOD HOUSE (PVT) LTD is a Private Limited Liability Company incorporated on 26^th December 1995 under the registration number N (PVS) 16470 and then the subject company was re-registered on 06^th May 2008 under the registration number PV 3656.

Location.

The Subject Company is located at the client # 263, Colombo Road, Anguruwella, Kegalle

Operational Details.

General

The subject company primary line of business is Importer & Manufacture of Plywood and Timber.

Products

Plywood and Timber

Countries

Malaysia, China

No of Employees

Not Disclosed

INFORMATION DENIED

MANAGEMENT NON CO-OPERATIVE

TEL NO.: (009435)2223236

(009471)6830566

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.38
UK Pound	1	Rs.100.45
Euro	1	Rs.70.55

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	KAS

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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