MIRA INFORM REPORT

Report No. :	501218
Report Date :	18.04.2018

IDENTIFICATION DETAILS

Name :	R G WILSON STORES (PVT)LTD

Registered Office :	# 20, I X Pereira Street, Colombo 11

Country :	Sri Lanka

Date of Incorporation :	13.06.2013

Com. Reg. No.:	PV 93020

Legal Form :	Private, Limited Liability Company

Line of Business :	Importers and Wholesale of Dried Fish

No. of Employees :	10-15

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Sri Lanka

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SRI LANKA - ECONOMIC OVERVIEW

Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.

In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.

Tourism has experienced strong growth during recent years following the resolution 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.

Source : CIA

Company Profile

Basic Information

a.	Name of Subject of Inquiry	R G WILSON STORES (PVT)LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman / Managing Director	Mr Ranhotti Gedara Wilson
d.	Primary Line of Business	Importers and Wholesale of Dried Fish
e.	Principal Place of Business	20 I.X. Pereira Street Colombo 11, Sri Lanka. Phone : (00 94 11) 2382200/ 77 7 288 285/2321258 - Mr Anton Fax : (00 94 11) NA E-Mail: linkfield22@gmail.com Web Site: NA
f.	Employees	10-15 Approximately

Company Details

a.	Registration No	PV 93020
	Date of Registration	13^th June 2013
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 20, I X Pereira Street, Colombo 11, Sri Lanka.
d.	Director Board / Ownership As At 12^th June 2013	Ranhotti Gedara Madushika Chathurangani	Director
		Jayasuriya Mudiyanselage Shirani	Director
		Ranhotti Gedara Wilson	Managing Director
e.	Stated Share Capital	NA
f.	No. of Shares	03
g.	Preferential Shares	NA
h.	Nominal Value of Share	NA
i.	Auditors	NA
j.	Company Secretaries	Jayasuriya Mudiyanselage Shirani Jayasooriya # 153/6, 9/1, Elvitigala Mawatha, Colombo 08, Sri Lanka.
k.	Main Bank/s	Refused to Provie

Shareholders

	NO.	NAME	NUMBER OF SHARES
1.		Ranhotti Gedara Madushika Chathurangani	01
2.		Jayasuriya Mudiyanselage Shirani		01
3.		Ranhotti Gedara Wilson	01

FINANCIAL DETAILS

- Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

• History.

The subject company was initially formed on 13th June 2013 under PV 93020 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

• Operational Details.

General

The subject company is into importing of Dry Fish for Wholesale purposes. The subject company refused to provide the exact staff and the bankers. The company is a new venture into this business and has no Capital as well as Auditors listed in the ROC from the date of inception and not filed the Annual returns to check the details.

Products & Services

Dried Fish

Employees

10-15 Approximately

Export Countries

Import Countries

Maldives, India

Associate / Subsidiary Companies

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Ranhotti Gedara Madushika Chathurangani
ID Number	938340285V
Nationality	Sri Lankan
Gender	Female
Date of Birth	29.11.1983
Age	34 Years
Address	# 152,6,9/1, Elvitigala Mawatha, Colombo 08, Sri Lanka.
Director 2
ITEM	DETAIL
Name	Jayasuriya Mudiyanselage Shirani
ID Number	635170735V
Nationality	Sri Lankan
Gender	Female
Date of Birth	17.01.1963
Age	55 Years
Address	# 152,6,9/1, Elvitigala Mawatha, Colombo 08, Sri Lanka.
Director 3
ITEM	DETAIL
Name	Ranhotti Gedara Wilson
ID Number	621661581V
Nationality	Sri Lankan
Gender	Male
Date of Birth	14.06.1962
Age	55 Years
Address	# 152,6,9/1, Elvitigala Mawatha, Colombo 08, Sri Lanka

INFORMATION DENIED

Unable To Contact [(0094)-777288288 – Not Working]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.45
UK Pound	1	INR 93.28
Euro	1	INR 80.74
LKR	1	INR 0.42

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Information Gathered by :	SUP

Analysis Done by :	PRI

Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.