MIRA INFORM REPORT

Report No. :	511905
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	WORLD BUDDHIST SANGHA YOUTH

Registered Office :	Ganegoda Raja Maha Vihara Megoda Kalugamuwa Peradeniya Kandy

Country :	Sri Lanka

Date of Incorporation :	Not available

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

Line of Business :	Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employees :	Not available

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

Basic Information

a.	Name of Subject of Inquiry	WORLD BUDDHIST SANGHA YOUTH
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman
d.	Primary Line of Business
e.	Principal Place of Business	Ganegoda Raja Maha Vihara Megoda Kalugamuwa Peradeniya Kandy Most Ven. Mugunuwela Anuruddha Mahathero Anurudha Arana, Pansalatenna, Balakaduwa, Ukuwela, Matale, Sri Lanka. Phone : (00 94 11) 66-2050925 / 777828114 Fax : (00 94 11) Skype:ven.auruddha2 E-Mail: mugunuwela@gmail.com Web Site: Most Ven. Vajra Long Sheng P.O. Box 118, Sandy Bay, Tasmania, Australia 7006 Telephone/Fax: +61 3 6225 0339 E-mail: wbsy.web@gmail.com
f.	Employees	TBC

Company Details

a.	Registration No	TBC
	Date of Registration	TBC
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	Ganegoda Raja Maha Vihara Megoda Kalugamuwa Peradeniya Kandy, Sri lanka
d.	Director Board / Ownership As At 30.05.2018	Most Ven. Mugunuwela Anuruddha Mahathero
		Most Ven. Bhagavan Zhi Ji Vimalakirti


e.	Stated Share Capital	NA
f.	No. of Shares	NA
g.	Preferential Shares	NA
h.	Nominal Value of Share	NA
i.	Auditors	NA
j.	Company Secretaries	NA
k.	Main Bank/s	TBC

Shareholders - NA

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

• History.

Background

The World Buddhist Sangha Youth ( WBSY ) was founded and inauguration took place on February 8, 2004 at Katmandu, Nepal. Monk representatives from the three main Buddhist schools of thought, Theravada, Mahayana and Vajrayana from Japan, Sri Lanka, New Zealand, Nepal, Bhutan, India, Mongolia and Thailand participated. The main objective of such a body is to create a global network among the Sangha Youth and the world. The first Executive Board meeting was held at wat Sanghathan Nonthaburi, Thailand from 17 - 20 May, 2004 where important issues were discussed and the Constitution of the World Buddhist Sangha youth Drafted. The first General Conference was held at Buddhagaya, India from 6 - 8 November 2004.

Introduction

The World Buddhist Sangha Youth was formed in 2004, founded by the Most Venerable Mugunuwela Anuruddha Mahathero of Sri Lanka.

The main objective is to provide an avenue for young Buddhist monks and nuns who heed the advice of the Noble Teacher, the Buddha to carry out Dhammaduta work, meet, exchange ideas and thoughts, share their experiences and remain focused to spreading the Noble Truth. The essence of world peace in this modern world has been the point of discussion in many world seminars and conventions. There is no denying that the prime essence of world peace is religious unity and harmony.

Mankind has been given the choice to believe and follow a religion or way of life. And as long as a person is born and has a mind of his own, there is no one who has the right to take that choice away. As mankind gets wiser, there can never be a time when the whole world will come to agree on the superiority of one particular religion . Even within the same religion, there are various school of thought and belief. There solution than to provide a common platform to deliberate and discuss on conflicting issues intelligently and wisely. At the end of the day, regardless of religious belief or through, each and everyone will have to compromise by practicing patience tolerance and understanding to have a peaceful life for all, here and now.

In the Buddhist community, there is no difference. There are various schools of thought or denominations. They are not different groups but merely various group practicing and following the Teachings of the Buddha, i.e. the ultimate goal of Nibbana, the end of suffering.

The World Buddhist Sangha Youth's role is to provide an opportunity for young monks and nuns from the various traditions the opportunity to come together. This is a perfect example of the Buddhist spirit of all for one and one for all. The theme of the second General Conference: Unity and Religious harmony' is most apt considering the senseless killing and suffering inflicted on humans by humans in the name of religion. Not only are they caused by people of different religions but by people of the same religion.

• Operational Details.

General

We were trying to contact the Monk in charge of this product in Sri Lanka but he is overseas at present. We will submit the completed report as soon as he is back in Sri Lanka. This is not a limited liability entity and is a non-profit organization which is into teaching Buddhism and related activity is done at this forum.

Products & Services

Teaching of Buddhism Conducting Forums for youth

Employees

TBC

Export Countries

Import Countries

Associate / Subsidiary Companies

Factory / Warehouse and Sales Outlets

Temple under the act for religious institutions

Personal Details of Key Persons – NA

INFORMATION DENIED

Management non co-operative

[(00 94 11) 66-2050925 / 777828114 / +61 3 6225 0339]

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 :	PNM

Analysis Done by :	NIY

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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