MIRA INFORM REPORT

Report No. :	489127
Report Date :	02.02.2018

IDENTIFICATION DETAILS

Name :	THAI LANKA GRANITE (PRIVATE) LIMITED

Registered Office :	# 19, 4/6, Milagiriya Avanue, Colombo 04

Country :	Sri Lanka

Date of Incorporation :	26.05.2014

Com. Reg. No.:	PV 98740

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Exporters of granite and related products

No. of Employees :	Approximately 30

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

(30.06.2017)

Current Rating

(30.09.2017)

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 an IMF program. 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 almost 80% of GDP and remains among the highest of the emerging markets.

The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

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	THAI LANKA GRANITE (PRIVATE) LIMITED
Legal Form & Status	Private Limited Liability Company (In Operation)
Managing Director	Mr Hewa Pathiranage Sunil Amapriya
Primary Line of Business	Exporters of Granite AND RELATED PRODUCTS
Principal Place of Business	# 19, 4/6, Milagiriya Avanue, Colombo 04 Sri Lanka. Tel. No: (00 94 77) 4936093 - Krishanthan / 2081660 - Mr Vigneshwaran (CEO of the company) Fax. No: (00 94 11) NA E-Mail: thailankagranites@gmail.com Web Site: NA
Employees	Approximately 30

Company Details

Registration No	PV 98740
Date of Registration	26.05.2014
Re-registration No	NA
Date of Re-registration	NA
Registered Office	# 19, 4/6, Milagiriya Avanue, Colombo 04, Sri Lanka
Board of Directors As At 31.12.2016	Hewa Pathiranage Sunil Amapriya	Director
	Veeranallu Kannan	Director
	Thirumalai Durairaj Ponraj	Director
Sated Share Capital	LKR 1,000.00
No. of Shares	100
Preferential Shares	NA
Nominal Value of Share	LKR 10.00
Auditors	S R Associates (Chartered Accountants) # 46, Lauries Road, Colombo 04, Sri Lanka
Company Secretaries	Malora Management & Secretarial Services (Pvt) Ltd # 46, Lauries Road, Colombo 04, Sri Lanka
Main Bank/s	Commercial Bank of Ceylon PLC
Public Quoted Date	NA

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Hewa Pathiranage Sunil Amapriya	60
2.	Veeranallu Kannan	20
3.	Thirumalai Durairaj Ponraj	20

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

History.

The subject company was initially formed on 26^th of May 2014 under PV 98740 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

Operational Details.

General

The subject company is into exporting of Granite, and its main market is India. The company has an Indian origin with its directors being Indian nationals.

Products

Granite

Employees

Approximately 30

Export Countries

India & Italy (Previously)

Associate / Subsidiary Companies

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Hewa Pathiranage Sunil Amapriya
ID Number	610763197V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th March 1961
Age	56 Years
Address	# 10/7, Jeswel Place, Mirihana, Nugegoda, Sri Lanka

Director 2

ITEM	DETAIL
Name	Thirumalai Durairaj Ponraj
ID Number	H 8607025
Nationality	Indian
Gender	Male
Date of Birth	NA
Age	NA
Address	Plot # 408, K K Nagar, Madurai - 625020, Tamilnadu, India

Director 3

ITEM	DETAIL
Name	Veeranallu Kannan
ID Number	J 6226801
Nationality	Indian
Gender	Male
Date of Birth	NA
Age	NA
Address	D. No: 723A, Gnanagiri Road, Coranation Colony, Sivakasi - 626123, Tamilnadu, India

INFORMATION DENIED BY

Name :	Mr. Vigneshwaran
Designation :	Chief executive officer
Contact No.:	(00 94 77) 4936093
Date :	02.02.2018

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.61
UK Pound	1	INR 89.32
Euro	1	INR 78.95
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	PNM

Analysis Done by :	PRI

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)

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.