|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
M.S.J. PROMOTIONAL (SERVICES) LTD |
|
|
|
|
Registered Office : |
# 618, 620, Biyagama Road, Peliyagoda, Kelaniya |
|
|
|
|
Country : |
Sri Lanka |
|
|
|
|
Date of Incorporation : |
11.09.1978 |
|
|
|
|
Com. Reg. No.: |
PV 3649 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Promotional Services |
|
|
|
|
No. of Employees : |
Approximately 500 employees |
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, 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 |
|
Name of Subject
of Inquiry |
: |
M.S.J.
PROMOTIONAL (SERVICES) LTD |
|
Legal Form
& Status |
: |
Private
Limited Liability Company (In
Operation) |
|
Chairman |
: |
Reginald
Abeyawira |
|
Primary Line of
Business |
: |
Promotional
Services |
|
Head Office & Place of Business |
: |
# 618, 620, Biyagama Road, Peliyagoda, Kelaniya, Sri Lanka. Tel: (00 94 11) 290 4222 / 291
3053 Fax: (00 94 11) 291 5378 E-Mail: jlm_ac@eureka.lk |
|
No.
of Employees |
: |
Approximately
500 |
|
Share Holders As at 07th October 2011 |
: |
Share Holders |
No. of
Shares |
|
H.
R. Gunatilake |
01 |
||
|
Denzil
Gunatilake |
01 |
||
|
J.L.
Morison Son & Jones |
519,997 |
||
|
B.
Karunatilaka |
01 |
||
|
Auditors |
: |
Ernst &
Young |
|
|
Company Secretaries |
: |
W.
M. Gamunu Wijesundera |
|
|
Bankers |
: |
Bank
of Ceylon People’s
Bank Sampath
Bank Hatton
National Bank PLC DFCC
Standard
Chartered Bank |
|
- Registration and
Shareholder Details
|
a. |
Registration No |
: |
PVS
5257 |
|
|
Date of Registration |
: |
11th
September 1978 |
||
|
b. |
Re-registration No |
: |
PV
3649 |
|
|
Date of Re-registration |
: |
06th
May 2008 |
||
|
c. |
Registered Office |
: |
#
618, 620, Biyagama Road, Peliyagoda, Kelaniya, Sri Lanka. |
|
|
d. |
Board of Directors As at 07th October 2011 |
: |
Reginald
Abeyawira |
Chairman |
|
Nihal Parakrama De Alwis Samaranayake |
Managing Director |
|||
|
Anjula
Mewnath Premathilake |
Director |
|||
|
Nayoma
Chanaka Kepatiwalana |
Director
|
|||
|
e. |
Issued
Share Capital |
: |
Rs.
5,200,000.00 |
|
|
f. |
Nominal Value of Share |
: |
Rs. 10.00 |
|
- Most recent
available Financial Information
THE COMPANY HAS
DECLINED TO PROVIDE INFORMATION ON ITS FINANCES
Based on the corporate laws of Sri Lanka, legal entities which are Private Company with Limited Liability is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity
·
History.
The Subject Company M.S.J. PROMOTIONAL (SERVICES) LTD is a
Private Limited liability Company incorporated on 11th September 1978 under
registration number PVS 5257 and
then the company was re-registered on 06th
May 2008 under registration number PV
3649.
·
Location.
The Subject
Company is located at the client # 126,
Aluthmawatha Road, Colombo-15.
·
Operational
Details.
General
The Subject Company primary
line of business is Promotional Services.
The subject company is a subsidiary of J.L.MORRISON
SON & JONES GROUP OF COMPANIES which is one of the largest and oldest
pharmaceutical businesses established in Sri Lanka with over 65 years of
operations in Sri Lanka.
The other subsidiary companies that come
under the wing of the J.L.MORRISON SON
& JONES (CEYLON) LTD group are
o
M.S.J. FOODS (CEYLON) LTD
o
M.S.J. TOURS (CEYLON) LTD
o
M.S.J. HOTELS (CEYLON) LTD
o
M.S.J. CARGOS (CEYLON) LTD
o
M.S.J. PROMOTIONAL SERVICES (CEYLON) LTD
o
M.S.J. INDUSTRIES (CEYLON) LTD
o
Services
Promotional Services
Employees
Not Disclosed
Directors Details
01)
|
Name |
R. Abeyawira |
|
ID Number |
273000275 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
26th October 1927 |
|
Age |
84 Years |
02)
|
Name |
Nihal Parakrama De
Alwis Samaranayake |
|
ID Number |
553652302 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
30th December 1955 |
|
Age |
56 Years |
03)
|
Name |
Anjula Mewnath Premathilake |
|
ID Number |
712352302 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
22nd August 1971 |
|
Age |
41 Years |
04)
|
Name |
Nayoma Chanaka Kepatiwalana |
|
ID Number |
552932293 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
19th October 1955 |
|
Age |
56 Years |
·
Financial Data
The company has declined to
provide information on its finances
Based on the corporate laws
of Sri Lanka, legal entities which are Private Company with
Limited Liability is not
required to make public disclosure of their annual financials.
Therefore no
financials are available for this entity
·
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.55.98 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.