MIRA INFORM REPORT

Report No. :	509725
Report Date :	16.05.2018

IDENTIFICATION DETAILS

Name :	DIVINE WORLDWIDE (PVT) LTD

Registered Office :	# 88, Level 04, Justice Akbar Mawatha, Colombo 02

Country :	Sri Lanka

Date of Incorporation :	24.07.2013

Com. Reg. No.:	PV 93653

Legal Form :	Private Limited Liability Company (In operation)

Line of Business :	Import and export of Fiber

No. of Employees :	10 Approximately

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

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

Company Profile

BASIC INFORMATION

a.	Name of Subject of Inquiry	DIVINE WORLDWIDE (PVT) LTD
b.	Legal Form & Status	Private Limited Liability Company (In operation)
c.	Chairman	Mr Mohamed Uvaiz Jumar Samsudeen
d.	Primary Line of Business	Import and export of Fiber
e.	Principal Place of Business	# 88, Level 04, Justice Akbar Mawatha, Colombo 02 Sri Lanka. Tel. No: (00 94 11) 4362708/ Mr.Saman 0774938175 /2465735 Fax. No: (00 94 11)2465735/2300865 E-Mail: saman@divineworldwide.lk Web Site: http://www.divineworldwide.lk/ (Site under construction)
f.	Employees	10 Approximately

Company Details

a.	Registration No	PV 93653
	Date of Registration	24^th July 2013
b.	Re-registration No	NA
	Date of Re-registration	NA
c.	Registered Office	# 88, Level 04, Justice Akbar Mawatha, Colombo 02, Sri Lanka.
	Board of Directors As At 19^th January 2018	Mohamed Uvaiz Jumar Samsudeen	Director
d.		Manish Gupta	Director
		Liyanage Sunil Chandrasiri Perera	Director
e.	Issued Share Capital	LKR 100,000.00
f.	No. of Shares	10,000
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	G H Management Services Chartered Accountants # 982/8, Goonawatta Road, Malabe, Sri Lanka.
j.	Company Secretaries	Sarasi Suwendrani Dissanayake # 69, Ashoka Mawatha, Kithulampitiya, Galle, Sri Lanka.
k.	Main Bank/s	Seylan Bank PLC

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Mohamed Uvaiz Jumar Samsudeen	3,000
2.	Manish Gupta	4,000
3.	Liyanage Sunil Chandrasiri Perera	3,000

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

· HISTORY

The subject company was formed on 24^th July 2013 under PV 93653 under the ROC act of Sri Lanka. The company has an Indian partnership and is a newly formed entity under the ROC act NO 07, of 2007.

· OPERATIONAL DETAILS

General

The subject company is into Import & Export business, the mechanism of the company is to import Fiber products for exporting which is with no vale additions and as it is imported.

Products

Fibre Products

Employees

10 Approximately

Import Countries

United Kingdom, Austria

Export Regions

India, Bangladesh, Indonesia, Maldives, Thailand, Bangkok

Associate Companies

Factory Complex / War House

# 290/7B, Biyagama Road, Mabima, Kelaniya, Sri Lanka.

Personal Details of Key Persons

Director 1
ITEM	DETAIL
Name	Mohamed Uvaiz Jumar Samsudeen
ID Number	612600627V
Nationality	Sri Lankan
Gender	Male
Date of Birth	16^th September 1961
Age	56
Address	# 18A 1/1, Prathibimbaramaya, Kalubowila, Sri Lanka.
Director 2
ITEM	DETAIL
Name	Manish Gupta
ID Number/Passport Number	Z 2534662
Nationality	Indian
Gender	Male
Date of Birth	NA
Age	NA
Address	# 05, Balcombe Place, Off Cotta Road, Colombo 08, Sri Lanka
Director 3
ITEM	DETAIL
Name	Liyanage Sunil Chandrasiri Perera
ID Number	583660704V
Nationality	Sri Lankan
Gender	Male
Date of Birth	31^st December 1958
Age	59
Address	# 112/1,Manila Gardens, Weliamuna Road, Hekiththa, Hendala, Wattala, Sri Lanka.

Information Declined

Name :	Mr. Saman
Contact No.:	(094-774938175)/2465735

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.53
UK Pound	1	INR 91.49
Euro	1	INR 80.53
LKR	1	INR 0.43

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

INFORMATION DETAILS

Information Gathered by :	KMN

Analysis Done by :	NIY

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)

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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.