MIRA INFORM REPORT

Report No. :	505843
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	F S TRADERS (PVT) LTD

Registered Office :	C-2-7, Economic Dedicated Center, Dambulla

Country :	Sri Lanka

Date of Incorporation :	14.02.2008

Com. Reg. No.:	PV 63047

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Importer and Distributor of Food Items

No. of Employees :	Approximately 25

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

Name of Subject of Inquiry	F S TRADERS (PVT) LTD
Legal Form & Status	Private Limited Liability Company (In Operation)
Chairman	Mr Mohamed Ismail Mohamed Shafir
Primary Line of Business	Importer and Distributor of Food Items
Principal Place of Business	C-2-7, Economic Dedicated Center, Kandy Raod, Dambulla, Sri Lanka. Tel. No: (00 94 66) 2285245 / 2284203/ +94 773281287 Imthiyaz Fax. No: (00 94 66) 2285244 E-Mail: fs traders@hotmail.com fstraders@live.com Web Site: http://www.fslanka.com/
Employees	Approximately 25

Company Details

Registration No	PV 63047
Date of Registration	14^th February 2008
Re-registration No	NA
Date of Re-registration	NA
Registered Office	C-2-7, Economic Dedicated Center, Dambulla, Sri Lanka.
Board of Directors As At 14^th OCTOBER 2017	Mohamed Ismail Mohamed Shafir	Director
	Mohamed Ismail Mohamed Kiyas	Director
Issued Share Capital	LKR 1,000.00
No. of Shares	100
Preferential Shares	NA
Nominal Value of Share	LKR 10.00
Auditors	Ratnayake T.A. & Company # 17, Rodney Street, Off Cotta Road, Colombo 08, Sri Lanka.
Company Secretaries	Business Allied Services (Pvt) Ltd # 17 2/1, Rodney Street, Colombo 08, Sri Lanka.
Main Bank/s	Seylan Bank PLC, DFCC Vardhana Bank, Sampath Bank PLC

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Mohamed Ismail Mohamed Shafir	100

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

• History.

The subject company was formed on 14^th February 2008 under PV 63047 under the Roc act of Sri Lanka. The company is located in the Economic zone in the Central province which is considered a zone for many business activities and a main distribution location. The company has many sub brands for items such as canned fish etc... and is among the top importers of food items for Distribution in Sri Lanka.

• Operational Details.

General

The company is a reputed company among the food imports and distribution community and is located in the economic hub of the central province. The company is into import and distribution with Sri Lanka and imports mainly Food items.

Products

Ruby Palm Oil Ruby Canned Fish Onions

Garlic, Sprats, lentils

Employees

25 Approximately

Import Countries

India, Canada, Pakistan, Bangladesh, China, Turkey, Dubai, Australia, Ukraine, Rumania, Bulgaria

Associate Companies

Greenup International (Pvt) Ltd

Personal Details of Key Persons

Director 1

ITEM		DETAIL
Name		Mohamed Ismail Mohamed Shafir
ID Number		671620836V
Nationality		Sri Lankan
Gender		Male
Date of Birth		10^th June 1967
Age		49
Address		# 145/9 ,3/5, Galle Road, Colombo 03, Sri Lanka.

Director 2
ITEM		DETAIL
Name		Mohamed Ismail Mohamed Kiyas
ID Number		751031681V
Nationality		Sri Lankan
Gender		Male
Date of Birth		12^th April 1975
Age		41
Address		# 145/9 ,3/5, Galle Road, Colombo 03, Sri Lanka.

INFORMATION DENIED BY

Name :	Mr. imthiyaz
Designation :	Accounts department
Contact No.:	+94 773281287
Date :	25.04.2018

Management non co-operative

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.70
UK Pound	1	INR 93.14
Euro	1	INR 81.43
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 :	VAR

Report Prepared by :	SYL

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.