3decades

MIRA INFORM REPORT

Report No. :	486917
Report Date :	30.01.2018

IDENTIFICATION DETAILS

Name :	SOHBAN FOODS (PVT) LTD

Registered Office :	# 296/D 1, Mathalana, Udugoda, Rukgahawila

Country :	Sri Lanka

Date of Incorporation :	13.11.2016

Com. Reg. No.:	PV118432

Legal Form :	Private, Limited Liability Company (In Operation)

Line of Business :	Subject is engaged in Importers and Suppliers of Food Items.

No. of Employees :	10

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

Basic Information

a.	Name of Subject of Inquiry	SOHBAN FOODS (PVT) LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Managing Director	Mr Muhammad Idrees
d.	Primary Line of Business	Importers and Suppliers of Food Items
e.	Principal Place of Business	# 296/D1 MATHALANA UDUGODA RUKGAWWALI 240,2^nd floor, Airtel Plaza, Main Street, Colombo 11 Sri Lanka. Tel. No: (00 94 75) 4112628 Fax. No: (00 94 11) NA Web Site: NA
f.	Employees	10 Approximately

Company Details

a.	Registration No	PV118432
	Date of Registration	13^th November 2016
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 296/D 1, Mathalana, Udugoda, Rukgahawila, Sri Lanka.
d.	Director Board / Ownership As At 18^th November 2016	Muhammad Idrees	Director
		Mohamed Imbran Fareed	Director
e.	Sated Share Capital	NA
f.	No. of Shares	100
g.	Preferential Shares	NA
h.	Nominal Value of Share	NA
i.	Auditors	NA
j.	Company Secretaries	Don's Assocites (Pvt) Ltd # 1278/5, Millagaha Watta, Kottawa, Pannipitiya, Sri Lanka.

Shareholders

NO.		NAME	NUMBER OF SHARES
1.	Muhammad Idrees			100

FINANCIAL DETAILS

- Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

• History.

The subject company was initially formed on 13^th November 2016 under PV118432 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

• Operational Details. General

The subject company owner has requested us to meet and discuss the matters with him to provide the details. We will do so next week and update the company information. The company is a single director company which is into import and dealership of food items.

Products & Services

Food Items

Employees

10 Approximately

Export Countries

Associate / Subsidiary Companies

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Muhammad Idrees
ID Number	AE1420412
Nationality	Pakistan
Gender	Male
Date of Birth	NA
Age	NA
Address	# 96-98/5, Istaqlalabad, Sargodha, Pakistan

Director 2

ITEM	DETAIL
Name	Mohamed Imbran Fareed
ID Number	772290110V
Nationality	Sri Lankan
Gender	Male
Date of Birth	17^th August 1977
Age	40 Years
Address	# 225/421, Dematagoda Road, Gospel Lane, Maradana, Colombo 09, Sri Lanka.

INFORMATION DECLINED

Management Non-Cooperative

Contact No.: 91-94754112628

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.54
UK Pound	1	INR 89.82
Euro	1	INR 78.86
LKR	1	INR 0.41

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

INFORMATION DETAILS

Information Gathered by :	GAY

Analysis Done by :	PRI

Report Prepared by :	DNS

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.