MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	JINASENA (PVT) LTD
Registered Office :	# 176 / 1, Thimbirigasyaya Road, Colombo - 15
Country :	Sri Lanka
Financials (as on) :	31.03.2011
Year of Establishment :	1967
Com. Reg. No.:	PV 3568
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture, import and distribute of water pump, agricultural machinery, electric motors, water purifiers, drip and sprinkler system

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Sri Lanka	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GENERAL- Basic information at a glance

Name of Subject of Inquiry	:	JINASENA (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (in operation)
Managing Director	:	T. Rohan Jinasena
Primary Line of Business	:	Manufacture, import and distribute of water pump, agricultural machinery, electric motors, water purifiers, drip and sprinkler system
Place of Business & Factory	:	No.176/1, Thimbirigasyaya Road, Colombo – 05, Sri Lanka. Tel. No: (00 94 11) 258 4919 – 23 / 258 4974 – 5 Fax No: (00 94 11) 258 4947 / 258 4948 E Mail: jinasena@jinasena.com.lk / agatha@jinasena.com.lk
No. of Employees	:	350 persons

COMPANY DETAILS- Registration and Shareholder Details

Registration No		:		PVS 2495
Year of Established:		:		1967
Date of Registration		:		31st December 2006
Re-registration No		:		PV 3568
Date of Re-registration		:		13th April 2008
Registered Office		:		# 176 / 1, Thimbirigasyaya Road, Colombo - 15
Board of Directors As At 14th October 2010		:		T. Rohan Jinasena		Managing Director
				Ruvani Jinasena		Director
				R. Nishan Jinasena		Director
				N. Wadugodapitiya		Director
				M. D. Ajantha Therese		Director
				W. A. P. Suvendra De Mel		Director
				R. Asanthi Jinasena		Director
				R. Samantha Fernando		Director
				Mr. Mahendraja		Finance Director
Issued Share Capital	:		Rs. 252,151,820.00
Nominal Value of Share	:		Rs. 10.00
Share Holders As At 14th October 2010			Share Holders		No. of Shares
			T. Rohan Jinasena		25,215,168
			Ruvani Jinasena		01
			R. Nishan Jinasena		01
			N. Wadugodapitiya		01
			M. D. Ajantha Therese		01
			W. A. P. Suvendra De Mel		01
			R. Asanthi Jinasena		01
			R. Samantha Fernando		01
Auditors	:		PricewaterhouseCoopers
Company Secretaries	:		S S P Corporate Services (Pvt) Ltd
Bankers	:		Bank of Ceylon, Colombo Branch
Importers	:		Products: Raw Material Country : India, Singapore, China, Japan
Trading Terms	:		Purchasing Terms: L/C, Cash, Credit (30 days) Selling Terms : Cash, Credit (30 days)
Types of Customers	:		Retailers, Wholesalers, End Users

Information Parted By

Name: Mr. Mahendraja

Designation: Finance director

Mobile No.: (00 94 11) 258 4919

Date: 22.11.2011

CURRENT INVESTIGATION

Company Logo

· History.

The Subject Company JINASENA (PVT) LTD is a Private Limited liability Company incorporated on 31st December 2006 under registration number PVS 2495 and then company was re-registered on 13th April 2008 under registration number PV 3568.

· Location.

The Subject Company is located at the client given address No.176/1, Thimbirigasyaya Road, Colombo – 05.

· Operations Details.

General

The subject company primary line of business is Manufacture, import and distribute of water pump, agricultural machinery, electric motors, water purifiers, drip and sprinkler system

Products

Water pump, agricultural machinery, electric motors, water purifiers, drip and sprinkler system.

Country

India, Pakistan, Korea

Employees

350 persons

· Financial Data

(Amt. In LKR Billions)

Particulars	31.03.2011	31.03.2010
Sales Turnover	1.100	1.000

· General Comments

The subject company when contacted refuse to provide any information to prepare this report and declined to disclose any operational or financial information, However all information received is from non-formal sources but clearly originating from the company

· Trade references

The subject company did not provide any trade reference referrals

· 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.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.08

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%)

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