MIRA INFORM REPORT

Report No. :	505561
Report Date :	25.04.2018

IDENTIFICATION DETAILS

Name :	LANKA COMMODITY TRADING (PVT) LTD
Registered Office :	# 11 A, Milepost Avenue,Colombo 03
Country :	Sri Lanka
Date of Incorporation :	02.05.2014
Com. Reg. No.:	PV 98395
Legal Form :	Private, Limited Liability Company
Line of Business :	Importer, Exporter, Trader and Wholesaler of Commodities
No. of Employees :	2800

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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	A2	A2

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	LANKA COMMODITY TRADING (PVT) LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman	Mr Mr Sattar Kassim
d.	Primary Line of Business	Importer, Exporter, Trader and Wholesaler of Commodities
e.	Principal Place of Business	No 10, Mile Post Avanue, Colombo 03 - Registered Address No 11 A, Mile Post Avanue, Colombo 03 - Office Address Sri Lanka. Tel. No: (00 94 11) 2573290 / 4659500 Fax. No: (00 94 11) 2574046 / 4659565 E-Mail: paddy@expolanka.com Web Site: http://www.expolanka.com/
f.	Employees	2800+ Approximately through the Expolanka Group

Company Details

a.	Registration No	PV 98395
	Date of Registration	02nd May 2014
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 11 A, Milepost Avenue,Colombo 03, Sri Lanka.
d.	Director Board / Ownership As At 25th October 2017	Sattar Kassim	Director
		Shafik Kassim	Director
		Hassan Kassim	Director
e.	Stated Share Capital	LKR 1,000.00
f.	No. of Shares	100
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	Ernst & Young # 201, De Saram Place, Colombo 10, Sri Lanka.
j.	Company Secretaries	Consultants & Corporate Secretaries (Pvt) Ltd # 35 1/1, Devanampiyatissa Mawatha, Colombo 10, Sri Lanka.
k.	Main Bank/s	Amana Bank, Pan Asia Bank, Bank of Ceylon, Deutsche Bank, HSBC, Hatton National Bank, Habib Bank, Commercial Bank, Muslim Commercial Bank

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Lanka Commodity Holdings (Pvt) Ltd	100

FINANCIAL DETAILS

Most recent available Financial Information - NA

CURRENT INVESTIGATION

Company Logo

History.

The subject company was initially formed on 02^nd May 2014 under PV 98395 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

• Operational Details.

General

The subject company is a fully owned subsidiary of Lanka Commodity Holdings (Pvt) Ltd which is a fully owned subsidiary of Expolanka Holdings PLC a diverse business conglomerate in Sri Lanka. The subject company is into Commodity trading and exports and imports many spices and other food items.

Products & Services

Spices, Lentils, Pulses, Staples

Employees

2800 + Approximately

Import Export Countries

Canada, African Countries, Middle East, Europe

Expolanka Global Presence (as a group)

Asia, Africa, Middle East (Over 18 Countries spread across the globe)

Associate Companies

Lanka Commodity Holdings (Pvt) Ltd

Fits Aviation (Pvt) Ltd

Expack Corrugated Cartons

High Energy Services

319 Express Courier Services

Lana Premier Foods

Business Location

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Sattar Kassim
ID Number	563231289V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18^th November 1956
Age	59
Address	# 66/11, Green Path, Colombo 03, Sri Lanka.

Director 2
ITEM	DETAIL
Name	Shafik Kassim
ID Number	611090340V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18^th April 1961
Age	55
Address	# 24/4, Independence Avenue, Colombo 07, Sri Lanka.

Director 3

ITEM	DETAIL
Name	Hassan Kassim
ID Number	881402181V
Nationality	Sri Lankan
Gender	Male
Date of Birth	19.05.1988
Age	29
Address	# 66/11, Green Path, Colombo 07, Sri Lanka.

INFORMATION DENIED

Management Non Co-Operative (Tel No.: (00 94 11) / 4659500)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.36
UK Pound	1	INR 92.51
Euro	1	INR 81.05
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	NIY
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)

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