MIRA INFORM REPORT

Report No. :	339395
Report Date :	10.09.2015

IDENTIFICATION DETAILS

Name :	THE TRADESMANN S L (PVT) LIMITED
Formerly Known As :	STEEL FEEDS TRADING (PVT) LTD
Registered Office :	70, Katukuruduwatta Road, Ratmalana.
Country :	Sri Lanka
Date of Incorporation :	07.04.1994
Com. Reg. No.:	PV 1166
Legal Form :	Private Limited liability Company
Line of Business :	Subject is engaged in Importing, Manufacturing, Trading & Distribution of general hardware, industrial power tools, tyres & Tubes, and Home Appliances.
No. of Employees :	Approx. 1000

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 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

Basic information at a glance

a.	Name of Subject of Inquiry	:	THE TRADESMANN S L (PVT) LIMITED
b.	Legal Form & Status	:	Private Limited Liability Company (in operation)
c.	Managing Director	:	M.N. Mohamed Najmudeen
d.	Primary Line of Business	:	Importers, Manufactures and Distributors of all kinds of Hardware, Industrial Tools and Home Appliances
e	Office & Place of Business & factory		# 70, Katukuruduwatta Road, Ratmalana. Sri Lanka. Tel. No: (00 94 11) 556 5656 Fax No: (00 94 11) 556 5605 E mail: telemarketing@tradesmann.com
f.	Factory	:	Pure Metal factory Divulapitiya Road Demanhandiya. Tel. No: (00 94 31) 531 1270 / 9
g.	No. of Employees	:	Approx. 1000

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No		N (PVS) 12813
	Date of Registration	:	07^th April 1994
b.	Re-Registration No		PV 1166
	Date of Re-Registration	:	27^th November 2007
c.	Registered Office	:	# 40, Ferry Road, Borupana, Ratmalana.
d.	Board Of Directors As At 31st December 2014	:	M. N. Mohamed Najmudeen	Managing Director
			Isbun Nihar Najmudeen (Ms)	Director
			Fazal Issadeen	Director
			M. N. Mohamed Umayr	Director
			Thambirajah Mahendran	Director
f.	Issued Share Capital	:	Rs.103,602,400.00
	Number of Shares	:	10,360,240
g.	Nominal Value of Share	:	Not applicable/declared vide Companies Act #7 of 2007. As per share capital it could be Rs.10/-
h.	Share Holders As At 31^st December 2014		Share Holders	No of Shears
			M. N. Mohamed Najmudeen	2,400,000
			Isbun Nihar Najmudeen (Ms)	500,000
			M. N. Mohamed Umayr	500,000
			The Jewellery International	6,360,240
			Fathima Nazma Najmudeen (Ms)	300,000
			Fathima Anam Najmudeen	300,000
i.	Secretaries	:	Accounting Systems Secretarial Services (Pvt) Ltd (Level 4, # 2, Castle Lane, Colombo 04)
j.	Auditors	:	SJMS Associates (# 2, Castle Lane, Colombo 04)
k.	Bankers	:	Commercial Bank, Seylan Bank, Bank of Ceylon, National Development bank

Directors Details

01)

Name	M. N. Mohamed Najimudeen
ID Number	620323640 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	01st February 1962
Age	53 Years
Address	# 418, Borupana Ferry Road, Ratmalana

02)

Name	Isbun Nihar Najmudeen
ID Number	625733715V
Nationality	Sri Lankan
Gender	Female
Date Of Birth	13^th March 1962
Age	53 Years
Address	# 418, Borupana Ferry Road, Ratmalana

03)

Name	Fazal Issadeen
ID Number	553122740 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	7th November 1955
Age	59 Years
Address	# 27/1, Peterson Lane, Colombo 05

04)

Name	M. N. Mohomed Umayr
ID Number	863650968 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	30^th December 1986
Age	28 Years
Address	# 418, Borupana Ferry Road, Ratmalana

05)

Name	Thambirajah Mahendran
ID Number	520706550 V
Nationality	Sri Lankan
Gender	Male
Date Of Birth	10^th March 1952
Age	63 Years
Address	# 40, Borupana Ferry Road, Ratmalana

FINANCIAL DETAILS

Most recent available Financial Information

(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

Company Logo

History.

The subject company, THE TRADESMANN S L (PVT) LTD is a Private Limited liability

Company incorporated on 07^th April 1994 under registration number N (PVS) 12813 and the

Company was re-registered on 27^th November 2007 under registration number PV 1166, in terms

of Companies Act #7 of 2007.

The subject company initially named as Steel Feeds Trading (Pvt) Ltd and the name changed on

22^nd March 2007 to the present name THE TRADESMANN S L (PVT) LTD.

Location:

The subject company is located at client # 70, Katukuruduwatta Road,

Ratmalana, approx.10 kilo meters south of Colombo city where many a industries are

located.

Operational Details.

General

The main line of business of the subject company is Importing, Manufacturing, Trading &

Distribution of general hardware, industrial power tools, tyres & Tubes, and Home

Appliances. The subject company is having their own distribution and marketing divisions to

supply the items to island wide dealers.

The subject company has earned certifications by ISO 9001: 2000, ISO 14001: 2004, and OHSAS

18001:1999

Products:

General Hardware, Building Hard ware, Roofing sheets, Lighting, Power tools, Home Appliances

Tyres & Tubes, Pre fabricated Buildings.

Imports

India, China, Malaysia, Singapore, Taiwan

No of Employees:

Approx. 1000

Trade references:

Wheel Lanka (PVT) Ltd. Sri Lanka

“Ganga” Roofing Manufacturers’, India

The National Chamber of Commerce of Sri Lanka

Sri Lanka – China Business Council

INFORMATION denied BY

Name :	Mr. Prabhat
Designation :	Commercial Manager
Contact No.:	94-773435635
Date :	09.09.2015

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.29
UK Pound	1	Rs.101.89
Euro	1	Rs.73.98

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	TRU

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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