MIRA INFORM REPORT

 

 

Report Date :

28.04.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

JF&I PACKAGING (PVT) LTD

 

 

Formerly Known As :

Janatha Finance & Investment (Pvt) Ltd

 

 

Registered Office :

No.321, Kaduwela Road, Koswatta, Talangama

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

04.08.1975

 

 

Com. Reg. No.:

PV 9457

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Packaging and printing

 

 

No. of Employees :

580 (Permanent: 525, Contract - 55)

 

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 :

Slow

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

:

JF&I PACKAGING (PVT) LTD

Legal Form  & Status

:

Private Limited Liability Company  (In Operation)

Chairman 

:

Dr. S. N. Arthur Fernando

Primary Line of Business

:

Packaging and printing

Head office

&

Place of Business

 

:

 

No.321, Kaduwela Road,

Koswatta,

Talangama,

Sri Lanka.

         

Tel. No: (00 94 11) 278 9069 / 279 1928 / 278 8598

Fax No: (00 94 11) 278 8598

 

E-Mail: jpack@jfi.lk / gaminis@jfi.lk

              packaging@jfi.lk

Location : Owned

 

No. of Employees

:

580 (Permanent: 525, Contract - 55)

 

           

COMPANY DETAILS- Registration and Shareholder Details

 

Registration No

:

PVS 4283

Date of Registration

:

04th August 1975

Re-registration No

:

PV 9457

Date of Re-registration

:

19th November 2008

Registered Office

:

No.321, Kaduwela Road, Koswatta, Talangama, Sri Lanka.

Factory

:

Paragoda, Colombo

Erderamulla, Colombo

Board of Directors

As At

11th November 2011

:

Dr. S. N. Arthur Fernando

Chairman

S. N. Lalith Fernando

Director

W. A. Swarnamali Fernando

Director

S.N. Jayathilaka

Director

S.D. Srinath Fernando

Director

S. Krishantha Fernando

Director

H.S. Tennakoon

Director

M.G.D. Gamini Priya Perera

Director

N.H. Jayantha

Director

K.M. Jayantha

Director

A.T. Kelipearachchi

Director

Issued Share Capital

:

Rs.         172,801,710.00

Nominal Value of Share

:

Rs.                        10.00

Trading Terms:

:

Purchasing Terms: L/C, Cash, Credit

Selling Terms: L/C, Cash, Credit

 

Major Share Holders

As At

11th November 2011

:

Share Holders

No. of

Shares

Dr. S. N. Arthur Fernando

3,452,454

W. A. Swarnamali Fernando

60

S. N. Lalith Fernando

6,041,757

S.D. Srinath Fernando

2,589,300

S.N. Jayathilaka

2,589,300

S. Krishantha Fernando

2,589,300

H.S. Tennakoon

3,000

Auditors

:

B.R. De Silva & Company

Company Secretaries

:

Hemantha Sanath Thennakoon

Bankers

:

Hatton National Bank Limited, Bank of Ceylon, Sampath Bank, Commercial Bank, DFCG Bank

 

Information Parted By:

 

Name               : Mr. Gamini

Designation     : Finance Manager

Mobile No.       : 00-94-11-278 9069

Date                 : 26.04.2012

                                                                                           

Capital Structure

Capital Investment :

 

Owned :

Rs 172.800 LKR millions

Borrowed :

--

Total :

Rs 172.800 LKR millions

 

Financial Data

                                                                                                               (Amt. In LKR Billions)

Particulars

 

31.03.2012

31.03.2011

Sales Turnover

2.700

2.500

                                                                                           

Expected Sales (2012-2013):- 3.000 LKR Billions

 

 

CURRENT INVESTIGATION                      

 

·         History.

 

                  The Subject Company JF&I PACKAGING (PVT) LTD is a Private Limited liability Company incorporated on 08th November 2006 under registration number N (PVS) 48510 then the company was re-registered 16th October 2008 under registration number PV 8184

 

                 The subject company earlier known as Janatha Finance & Investment (Pvt) Ltd it changed  

                  On 27th April 2011.

 

·         Location.

 

The Subject Company is located at the client given address No.321, Kaduwela Road, Koswatta, Talangama, Sri Lanka..

 

·         Operational Details.

 

General

                    The subject company primary line of business is Packaging and printing

 

Products

Printed tags, printed boxes, printed leaflets, printed stickers, display units, printed cards, printed labels, Cartoons, Boxes, Bags, Sacs…etc  

 

Country

China, India

 

No of Employees

                    580 (Permanent: 525, Contract - 55)

 

·         Trade references

Unilever Ceylon Ltd

DIC Lanka Pvt. Ltd

 

·          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.52.68

UK Pound

1

Rs.85.12

Euro

1

Rs.69.38

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.