MIRA INFORM REPORT

 

 

Report Date :           

11.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

JAT HOLDINGS (PVT) LTD 

 

 

Registered Office :

# 264 B2, 4th lane, Shanthipura, Thalawathugoda

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.07.1993

 

 

Com. Reg. No.:

PV 8743

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and exporter of Wood Coatings

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Sri Lanka

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

INFORMATION PARTED BY

 

Name :                             Mr. S. Sivasubramaniam

Designation :                   Finance Director

Mobile No.:                      0773444306

Date :                               08.08.2011

 

 Bottom of Form

 

GENERAL- Basic information at a glance

     

Name of Subject of Inquiry

:

JAT HOLDINGS (PVT) LTD

Legal Form  & Status

 

:

 

Private Limited Liability Company (In Operation)

Managing Director

:

A. Winston Gunawardene

Primary Line of Business

:

Manufacturer and exporter of Wood Coatings & Decorative Paints, Trader of Fevicol, water Proofing Latex Paints, Brush Master, Hettich, etc.

Head Office

&

Place of Business

 

:

 

#.351,

Pannipitiya Road,
Thalawathugoda,

Sri Lanka.

 

Tel. No: (00 94 11)  440 7700

Fax No: (00 94 11)  277 3793

 

E Mail: info@jatholdings.com / siva@jatholdings.com

 

Web:   www.jatholdings.com

 

Location: Owned

Area:       40,000  Sq.fts

 

 

Factory

:

69 & 70 Industrial Zone,

Katuwana Road,

Homagana,

Sri Lanka

 

Location: Rented

Area:       50,000 Sq.fts

Show Room

 

 

#.1, Narahenpita Road,
Nawala,

Sri Lanka.

 

Tel. / Fax. No: (00 94 11) 440 0108

 

No. of Employees

:

150

           

 

                       

COMPANY DETAILS - Registration and Shareholder Details

 

Registration No

:

N (PVS) 11277

Date of Registration

:

01st July 1993

Re-registration No

 

PV 8743

Date of Re-registration

 

30th October 2008

Registered Office

:

# 264 B2, 4th lane, Shanthipura, Thalawathugoda.

Board of Directors

As At

31st August 2010

:

A. Winston Gunawardene

Managing Director

Joycelyn James

Director

A. Lakmal Gayan Perera

Director

S. Sivasubramaniam

Director

W. Pushpa Kumara Gunaratne

Director

Issued Share Capital

:

Rs           900,000    

Nominal Value of Share

:

Rs.              10.00 

Share Holders

As At

31st August 2010

:

 Share Holders

No Of Shares

Held

A. Winston Gunawardene

60,000

V. Niranjalie Gunawardena

30,000

Auditors

:

·         Nihal Hettiarachchi & Company

·         Aiyar & Company

Company Secretaries

 

R N H Holdings (Pvt) Ltd

Bankers

 

·         Sampath Bank

·         HSBC Bank, Colombo

·         Hatton National Bank, Thalawathugodah

·         NDB Bank, Navam Mawatha Branch

 

 

CURRENT INVESTIGATION

 

                              Company Logo

                                

 

·         History.

                  The Subject Company JAT HOLDINGS (PVT) LTD is a Private    Limited   Liability Company incorporated on 01st July 1993 under registration number N (PVS) 11277, and then the company was re-registered on 30th October 2008 under registration number PV 8743.

 

·         Location.

 

                  The Subject Company is located at the client given address #.351, Pannipitiya Road,
                  Thalawathugoda.

 

·         Operational Details.

 

General

The subject company primary line of business is Manufacturer and exporter of Wood Coatings.

 

Products

                  Lacquers,  furniture fittings,  Water Proofing latex Paint,  Paint Brushers, Spray Guns,

 

Export Country

                 India, German, Europe and Asia Countries

 

Import Country

China, Italy, India

 

Import Products

Rasins

 

No of Employees

150

 

Trading Terms:

Selling Terms                                            Cash, Credit

Purchasing Terms                                      L/C, Credit

 

 

Types of customers: Dealers, Agents

 

Director Details

 

01)

Name

A. Winston Gunawardene

ID Number

663652605 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

30th December 1966

Age

44 Years

 

 

 

 

02)

Name

Joycelyn James

ID Number

720551730 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

24th February 1972

Age

39 Years

 

 

03)

Name

A. Lakmal Gayan Perera

ID Number

691900690 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

08th July 1969

Age

42 Years

 

 

 

04)

Name

S. Sivasubramaniam

ID Number

750111629 X

Nationality

Sri Lankan

Gender

Male

Date of Birth

11th January 1975

Age

36 Years

 

 

05)

Name

W. Pushpa Kumara Gunaratne

ID Number

782993070 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

25th October 1978

Age

32 Years

 

6)

Name

Mr. David Parmeshwaran

 

7)

Name

Mr. Wasant Gunarathe

 

8)

Name

Mr. Alexby Coonghe

 

 

·         Financial Data

                                                                                                                                                                                                                                                                                   (Amt. In LKR Millions)

Particulars

 

 

31.03.2011

Sales Turnover

 

35.000

                                                                                           

Expected Sales (2010-2011):- 800 LKR Millions

 

 

·         Trade references

·         Donkarolis, Sri Lanka

·         Techwood, Sri Lanka


Company subsidiaries

 

Sri Lanka Subsidiaries

 

Atli Industries (Pvt) Ltd

No: 796 / A, Pannipitiya Road,

Pelawatta, Sri Lanka.

Phone / Fax: +94 11 4408938

 

Brush Master (Pvt) Ltd

25/1 A Weniwalkola,Kahathuduwa

Polgasowita

Sri Lanka.

 

Overseas Subsidiaries

Sagar Brush Industries

81/13 Maduraj Road,

Maravan Kulam, Tirumangalam

Tamil Nadu – 625706 India.

 

Jat Holdings Bangladesh (Pvt) Ltd.

Plot No. 66, Progoti Sharani,

Baridhara, Dhaka – 1212

Bangladesh.

Phone : 008849785 / 6

Fax: 00880 2 8828756

 

Umet (Pvt) Ltd.

H. Relic, Haakura Goalhi

Male, Republic of Maldives.

Phone: 00960 3339944

Fax: 00960 3343657

Email: fayaz@umet.com.mv

 

 

·         Credit Recommendations

 

                  Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.78

UK Pound

1

Rs.80.10

Euro

1

Rs.68.82

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

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.