MIRA INFORM REPORT

Report No. :	511470
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	SHAKEENAT INTERNATIONAL (PVT)LTD

Registered Office :	# 421/B/3, Akbar Town, Hunupitiya, Wattala

Country :	Sri Lanka

Date of Incorporation :	18.12.2017

Com. Reg. No.:	PV 128157

Legal Form :	Private, Limited Liability Company

Line of Business :	Export Spices /Coconut/ Ariconut

No. of Employees :	Approximately 5

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business

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

a.	Name of Subject of Inquiry	SHAKEENAT INTERNATIONAL (PVT)LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman	Mohamed Ali Ganthi
d.	Primary Line of Business	Export Spices /Coconut/ Ariconut
e.	Principal Place of Business	# 421/B/3, Akbar Town, Hunupitiya, Wattala, Sri Lanka. Phone : (00 94 11)0771066977/3679496 Fax : (00 94 11) NA E-Mail: shakeenatint@gmail.com Web Site: NA
f.	Employees	Approximately 5

Company Details

a.	Registration No	PV 128157
	Date of Registration	18^th December 2017
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 421/B/3, Akbar Town, Hunupitiya, Wattala, Sri Lanka.
d.	Director Board / Ownership As At 18^th December 2017	Mohamed Ali Ganthi	Director
		Mohamed Iliyas Mohamed Akram	Director
e.	Stated Share Capital	NA
f.	No. of Shares	02
g.	Preferential Shares	NA
h.	Nominal Value of Share	NA
i.	Auditors	NA
j.	Company Secretaries	Mohamed Ali Ganthi # 1005, Sri Jayanthi Mawatha, Hunupitiyaa, Wattala, Sri Lanka.
k.	Main Bank/s	Bank of Ceylon

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Mohamed Ali Ganthi	01
2.	Mohamed Iliyas Mohamed Akram	01

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

History.

The subject company was initially formed on 18^th December 2017 under PV 128157 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

•Operational Details.

General

The subject company is a newly formed entity and is into Exports. The company was helpful in providing the required details of its operations. The subject company has been exporting Coconuts as well but due to the restrictions imposed by the government they have had to stop this for the moment.

Products & Services

Spices, Aricanuts, Coconuts

Employees

05 Approximately

Export Countries

INDIA & DUBAI

Import Countries

Associate / Subsidiary Companies

LYNX SHIPPIN LINE COLOMBO PVT LTD AGRO CROP INTERNATIONAL PVT LTD

Factory / Warehouse and Sales Outlets

# 14, Church Road, Wattala, Sri Lanka. - Stores

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Mohamed Ali Ganthi
ID Number	772812361V
Nationality	Sri Lankan
Gender	MALE
Date of Birth	07.10.1977
Age	40 Years
Address	# 1005, Sri Jayanthi Mawatha, Hunupitiyaa, Wattala, Sri Lanka.
Director 2
ITEM	DETAIL
Name	Mohamed Iliyas Mohamed Akram
ID Number	951070297V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16.04.1995
Age	23 Years
Address	# 1176/1/1, Mayura Mawatha, Hunupitiya, Wattala, Sri Lanka.

INFORMATION DENIED BY

Name :	Mohamed Ganthi
Designation :	Manager
Contact No.:	(00 94 11) 771066977

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.45
UK Pound	1	INR 89.79
Euro	1	INR 78.79
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	KAM

Analysis Done by :	PRI

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)

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.