MIRA INFORM REPORT

Report No. :	496826
Report Date :	17.03.2018

IDENTIFICATION DETAILS

Name :	ECO TRANSFER PRINTS (PVT) LTD
Registered Office :	# 638,638/2, High Level Road, Gangodawila, Nugegoda
Country :	Sri Lanka
Date of Incorporation :	17.12.2009
Com. Reg. No.:	PV 70393
Legal Form :	Private, Limited Liability Company
Line of Business :	Label Printing
No. of Employees :	Approximately 120

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 (30.09.2017)	Current Rating (31.12.2017)
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 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	ECO TRANSFER PRINTS (PVT) LTD
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	Chairman	Mr Mohamed Iqbal Ayoob
d.	Primary Line of Business	Label Printing
e.	Principal Place of Business	# 638,638/2, High Level Road, Gangodawila, Nugegoda, Sri Lanka. 640/1/1, High Level Road, Gangodawila, Nugegoda Old Address (No More) Phone : (00 94 11) 7 547 547 Fax : (00 94 11) 2 817 292 E-Mail: info@ecotransferprints.com Web Site: www.ecotransfer.lk
f.	Employees	Approximately 120

Company Details

a.	Registration No	PV 70393
	Date of Registration	17^th December 2009
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 638,638/2, High Level Road, Gangodawila, Nugegoda, Sri Lanka.
d.	Director Board / Ownership As At 14th October 2017	Mohamed Iqbal Ayoob	Chairman
		Mohamed Ifzal Iqbal	Director
		Mohamed Eshan Iqbal	Director
		Mohamed Iqbal Mohamed Mubeen	Managing Director
		Mohamed Asif Adul Kareem	Director
e.	Stated Share Capital	LKR 56,247,550.00
f.	No. of Shares	431,250
g.	Preferential Shares	NA
h.	Nominal Value of Share	NA
i.	Auditors	Ratnayake T A & Company # 17, Rodney Street, Off Cotta Road, Colombo 08, Sri Lanka.
j.	Company Secretaries	Business Allied Services (Pvt) Ltd # 17 2/1, Rodney Street, Off Cotta Road, Colombo 08, Sri Lanka.
k.	Main Bank/s	Bank of Ceylon / Hatton National Bank

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Mohamed Iqbal Ayoob	28,750
2.	Mohamed Ifzal Iqbal	24,150
3.	Mohamed Eshan Iqbal	20,700
4.	Mohamed Iqbal Mohamed Mubeen	20,700
5.	Mohamed Asif Adul Kareem	20,700
6.	E Screen Systems (Pvt) Ltd	172,500
7.	Everbright (HK) Industrial Holdings Co Ltd	143,750

FINANCIAL DETAILS

Most recent available Financial Information

NA

CURRENT INVESTIGATION

Company Logo

· History.

The subject company was initially formed on 17^th December 2009 under PV 70393 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

· Operational Details.

General

Founded in Sri Lanka, in the early 21st century, ECO Transfer Prints (Pvt) LTD is a prominent entity in the industry of Heat Transfer label printing. Branching as a subsidiary of a highly experienced business tree in its arena, ECO Transfer Prints has made its name for high quality and perfection.

Products & Services

Heat Transfers for all types of applications

Employees

120 Approximately

Export Countries

NA

Import Countries

NA

Associate / Subsidiary Companies

E Screen Systems (Pvt) Ltd

Everbright (HK) Industrial Holdings Co Ltd

Everlight Textile Industries (Pvt) Ltd

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Mohamed Iqbal Ayoob
ID Number	460473152V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th February 1946
Age	72
Address	# 3/7,Daya Road, Colombo 06, Sri Lanka

Director 2

ITEM	DETAIL
Name	Mohamed Ifzal Iqbal
ID Number	682810823V
Nationality	Sri Lankan
Gender	Male
Date of Birth	07^th October 1968
Age	49
Address	# 109/4 A, Manning Place, Colombo 06, Sri Lanka.

Director 3

ITEM	DETAIL
Name	Mohamed Eshan Iqbal
ID Number	722860667V
Nationality	Sri Lankan
Gender	Male
Date of Birth	12^th October 1972
Age	45
Address	# 3/7,Daya Road, Colombo 06, Sri Lanka

Director 4

ITEM	DETAIL
Name	Mohamed Iqbal Mohamed Mubeen
ID Number	763151034V
Nationality	Sri Lankan
Gender	Male
Date of Birth	10^th November 1976
Age	41
Address	# 3/7,Daya Road, Colombo 06, Sri Lanka

Director 5

ITEM	DETAIL
Name	Mohamed Asif Adul Kareem
ID Number	832000213V
Nationality	Sri Lankan
Gender	Male
Date of Birth	18.07.1983
Age	34
Address	# 10/1, Fussels Lane, Colombo 06, Sri Lanka.

INFORMATION DENIED BY

Name :	Mr. Nishad
Designation :	Accountant
Contact No.:	(00 94 11) 7 547 547
Date :	14.03.2018

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.87
UK Pound	1	INR 90.49
Euro	1	INR 79.91
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	SHW
Analysis Done by :	PRI
Report Prepared by :	TRU

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.