MIRA INFORM REPORT

Report No. :	486094
Report Date :	18.01.2018

IDENTIFICATION DETAILS

Name :	IMPERIAL TEA EXPORTS (PVT) LTD
Registered Office :	# 121 A, Biyagama Road, Kelaniya
Country :	Sri Lanka
Date of Incorporation :	25.08.1997
Com. Reg. No.:	PV 234
Legal Form :	Private, Limited Liability Company (In Operation)
Line of Business :	Exporters of Tea and Related Products
No. of Employees :	Approximately 100 Permanent + 350 Workers

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 :	Slow but correct
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	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 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 about 77% 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

Name of Subject of Inquiry	IMPERIAL TEA EXPORTS (PVT) LTD
Legal Form & Status	Private, Limited Liability Company (In Operation)
Managing Director / Chairman	Mr. Krunaratne Jayantha Prem
Primary Line of Business	Exporters of Tea and Related Products
Principal Place of Business	# No.121A, Biyagama Road, Kelaniya, Sri Lanka. Tel. No: (00 94 11) 2904000 Fax. No: (00 94 11) 2909988 Nisal Weerasekara, Prabash Kombalavithana (International Marketing Managers) E-Mail: imperialtea@impratea.lk Web Site: www.impratea.com
Employees	Approximately 100 permanent + 350 workers

Company details

Registration No	N(PVS) 19619
Date of Registration	25^th August 1997
Re-registration No	PV 234
Date of Re-registration	16^th July 2007
Registered Office	# 121 A, Biyagama Road, Kelaniya, Sri Lanka.
Director Board / Ownership As At 07^th December 2016	Krunaratne Jayantha Prem	Director
	Gurusinghe Abaya	Director
	Karunaratne Ilauga Kumari	Director
	Weerakoon Kolitha Prasanna	Director
	Juriansz Richard Liewellyn	Director
Sated Share Capital	LKR 10,000,200.00
No. of Shares	1,000,020
Preferential Shares	NA
Nominal Value of Share	LKR 10.00
Auditors	Tudor V Perera & Company Chartered Accountants 3^rd Floor, De Mel Building, Chathem Street, Colombo 01, Sri Lanka.
Company Secretaries	Financial Consultants & Allied Services (Pvt) Ltd 3^rd Floor, De Mel Building, Chathem Street, Colombo 01, Sri Lanka.
Main Bank/s	Sampath Bank PLC, Commercial Bank PLC, Bank of Ceylon

Shareholders

No.	Name	Number of Shares
1.	Imperial Teas (Pvt) Ltd	1,000,000
2.	Krunaratne Jayantha Prem	05
3.	Gurusinghe Abaya	05
4.	Karunaratne Ilauga Kumari	05
5.	Weerakoon Kolitha Prasanna	05

FINANCIAL DETAILS

Most recent available Financial Information

NA

Current investigation

Company Logo

History

The subject company was initially formed on 25th August 1997 under N(PVS) 19619 under the Companies Act of Sri Lanka. The subject company was subsequently Re-registered on 16th July 2007 under PV 234 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

Operational Details

General

The subject company a pioneer in the Tea Industry with ventures into various other related F&B industries is a well-recognized entity in the Island. The company is doing well amidst the struggles of the Tea Industry with Global issues in consumption etc..

Products & Services

Black & Green Tea in packets, Tea Bag form, Herbal Infusions, Iced Tea, Impra Energy Drink,

Flavored Tea, Organic Tea, Silver Tips & White Tea, Gift tea boxes

Employees

100 + 350 Approximately

Export Countries

Russian Federation, Ukraine, Moldova, Belarus, Kazakhstan, Uzbekistan, Azerbaijan, Poland,

Hungary, Armenia, Czech Republic, Slovakia, Lithuania, Latvia, Estonia

Import Countries

Machines and Parts from Europe, India etc…

Associate / Subsidiary Companies

Imperial Ceylon Tea Bags (Pvt) Ltd

Heavenly tea export (Pvt) Ltd

Imperial Beverages (Pvt) Ltd

Imperial Spice (Pvt) Ltd

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Krunaratne Jayantha Prem
ID Number	562662251V
Nationality	Sri Lankan
Gender	Male
Date of Birth	22^nd September 1956
Age	61 Years
Address	# 35, Rupasiri Mawatha, Mirihana, Nugegoda, Sri Lanka.

Director 2

ITEM	DETAIL
Name	Gurusinghe Abaya
ID Number	581121105V
Nationality	Sri Lankan
Gender	Male
Date of Birth	21^st April 1958
Age	59 Years
Address	# 1056/1, Pannipitiya Road, Pelawatte, Battaramulla, Sri Lanka.

Director 3

ITEM	DETAIL
Name	Karunaratne Ilauga Kumari
ID Number	568011970V
Nationality	Sri Lankan
Gender	Female
Date of Birth	27^th October 1956
Age	61 Years
Address	# 35, Rupasiri Mawatha, Mirihana, Nugegoda, Sri Lanka.

Director 4

ITEM	DETAIL
Name	Weerakoon Kolitha Prasanna
ID Number	683140422V
Nationality	Sri Lankan
Gender	Male
Date of Birth	09^th November 1968
Age	49 Years
Address	# 24, Negombo Road, Peliyagoda, Sri Lanka.

Director 5

ITEM	DETAIL
Name	Juriansz Richard Liewellyn
ID Number	460780047V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18^th March 1946
Age	71 Years
Address	# 6, 1^st Lane, Wadiya Road, Dehiwala, Sri Lanka.

INFORMATION DENIED

Management non-co-operative [094-11-2904000]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.97
UK Pound	1	INR 88.13
Euro	1	INR 78.35
LKR	1	INR 0.41

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

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	NIY
Report Prepared by :	TPT

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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