MIRA INFORM REPORT

Report No. :	505961
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	LUXURY BRANDS (PVT) LIMITED

Registered Office :	# 61, Janadhipathi Mawatha, Colombo 01

Country :	Sri Lanka

Date of Incorporation :	02.08.2012

Com. Reg. No.:	PV 87396

Legal Form :	Private, Limited Liability Company

Line of Business :	Importer and Distributor of Alcoholic Beverages

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
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

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

01) Basic Information

a.	Name of Subject of Inquiry	LUXURY BRANDS (PVT) LIMITED
b.	Legal Form & Status	Private, Limited Liability Company (In Operation)
c.	CEO	Mr Shah Suresh Kumar
d.	Primary Line of Business	Importer and Distributor of Alcoholic Beverages
e.	Principal Place of Business	# 254, Colombo Road, Biyagama Sri Lanka Phone : (00 94 11) 2465 900/ 2039 200 Fax : (00 94 11) 2465 901 / 2039 201 E-Mail: carsons@carcumb.com Web Site: http://www.luxurybrands.lk
f.	Employees	NA

Company Details

a.	Registration No	PV 87396
	Date of Registration	2^nd August 2012
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 61, Janadhipathi Mawatha, Colombo 01, Sri Lanka.
d.	Director Board / Ownership As At 03^rd August 2018	Shah Suresh Kumar		Director
		Gunathilake Dilukshan Ranil Peiris		Director
		Atton Stefan Gerard Sydney		Director
		Ranatunga Madhusanka Randimal Bandara		Director
e.	Stated Share Capital	LKR 10.00	LKR 50,000,000.00
f.	No. of Shares	01	5,000,000
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	K P M G Chartered Accountants # 32 A, Sir Mohamed Macan Markar Mawatha, Colombo 03, Sri Lanka.
j.	Company Secretaries	Carson Management Services (Pvt) Ltd # 61, Janadhipathi Mawatha, Colombo 01, Sri Lanka.
k.	Main Bank/s	Citi Bank, Hatton National Bank PLC, Bank of Ceylon, Deutsche Bank, Commercial bank pf Ceylon PLC, HSBC, Sampath bank PLC, Nations Trust bank PLC, Peoples Bank

Shareholders

NO.		NAME	NUMBER OF SHARES
1.	Ceylon Beverage Holdings PLC		01 + 5,000,000

FINANCIAL DETAILS

- Most recent available Financial Information

4) CURRENT INVESTIGATION

Company Logo

· History.

The subject company was initially formed on 02^nd August 2012 under PV 87396 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

Caption

The year 2012 marks the emergence of Luxury Brands (Pvt.) Limited, under the parent company Ceylon Beverage Holdings PLC. Widely known Lion Brewery, as sister the sister company. In a short span of five years, Luxury Brands has paved its own trail blazing path. With over ninety international alcoholic beverage brands in its portfolio, the company serves those discerning customers who seek out a more refined and dynamic taste to elevate social moments.

Luxury Brands is the sole importer, distributor and marketer in Sri Lanka for some of the most exclusive and recognizable brands in the world. Of the many feathers in the cap, one of the most prestigious is partnering with Diageo, the world's largest alcoholic beverages producer. The lineup also includes brands by, Anheuser-Busch
InBev with world renowned brands such as Corona, Hoegaarden and Stella Artois, the world's largest brewer, Tsingtao Brewery, responsible for brewing the world'ssecond fastest selling beer and Carlsberg, which among others, also producesSomersby - the fastest selling cider in the world

· Operational Details.

General

Luxury Brands (Pvt) Ltd (LB) is a fully owned subsidiary of Lion Brewery (Ceylon) PLC. It is the sole importer, distributor and marketer in Sri Lanka for Diageo—world's largest alcoholic beverages producer and Moet Hennessy (commonly known as LVMH), which is a French multinational luxury goods conglomerate, headquartered in Paris. Luxury Brands started its operations in 2012 and within a short period of time, the entity has been able to successfully project itself in the market, as one of the key players in the alcobev segment.

"Operating in a complete dark market, Trade marketing plays a pivotal role and we focus on 04 basic pillars in trade marketing at Luxury Brands — AVAM (availability, visibility, assortment & merchandising) Accordingly.

Products & Services

Beer & Cider

Wines and Alcoholic Beverages

Employees

Export Countries

Import Countries

France

Associate / Subsidiary Companies

Ceylon Beverage Holdings PLC Carson's Cumberbatch PLC

Factory / Warehouse and Sales Outlets

Owned

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Shah Suresh Kumar
ID Number	601560178V
Nationality	Sri Lankan
Gender	Male
Date of Birth	04.06.1960
Age	57
Address	# 23/124 A, Dharmapala Mawatha, Off Wickramasinghapura, Thalawathugoda, Sri Lanka.
Director 2
ITEM	DETAIL
Name	Gunathilake Dilukshan Ranil Peiris
ID Number	633510377V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16.12.1963
Age	54
Address	# 11, Siripala Road, Mount Lavinia, Sri Lanka.
Director 3
ITEM	DETAIL
Name	Atton Stefan Gerard Sydney
ID Number	721911870V
Nationality	Sri Lankan
Gender	Male
Date of Birth	09.07.1972
Age	45
Address	# 10/55, H P T Homes, Heenatikumbura, Koswatte, Thalangama North, Sri Lanka.
Director
ITEM	DETAIL
Name	Ranatunga Madhusanka Randimal Bandara
ID Number	810260173V
Nationality	Sri Lankan
Gender	Male
Date of Birth	26.01.1981
Age	37
Address	# 75 E, Gramodaya Mawatha, Thalawathugoda, Sri Lanka.

INFORMATION DENIED

Management Non Co-Operative [Tel No.: (00 94 11) 2465 900/ 2039 200]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.61
UK Pound	1	INR 90.60
Euro	1	INR 79.86
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 :	NIY

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.