MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

J. K. IMPORT AND EXPORT COMPANY PRIVATE LIMITED

 

 

Registered Office :

#.105, Bankshall Street, Colombo 11.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

06.01.2000

 

 

Com. Reg. No.:

PV 10823

 

 

Legal Form :

Private Limited Liability Company (In Operation)

 

 

Line of Business :

Import, Export and Distribution of Agro Products, Chemicals  and Indenting Agents

 

 

No. of Employees :

Approximately  25

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Sri Lanka

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

sri lanka - ECONOMIC OVERVIEW

 

Sri Lanka continues to experience strong economic growth following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam (LTTE). The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises and increase agricultural productivity. The government's high debt payments and bloated civil service have contributed to historically high budget deficits, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. The 2008-09 global financial crisis and recession exposed Sri Lanka''s economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded with the end of the war and an IMF agreement, resulting in two straight years of 8% growth in 2010-11. Growth moderated to about 6% in 2012. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern. Strong remittances from Sri Lankan workers abroad have helped to offset the trade deficit.

 

Source : CIA

 

a.

Name of Subject of Inquiry

:

J. K. IMPORT AND EXPORT COMPANY PRIVATE LIMITED

b.

Legal Form  & Status

 

:

 

Private Limited Liability Company (In Operation)

c.

Managing Director

 :

Karuppiah  Jeyajeewan

d.

Primary Line of Business

:

Import, Export and Distribution of Agro Products, Chemicals  and Indenting Agents

e.

Head Office & Place of Business

:

 

#.105, Bankshall Street,

Colombo 11.

Sri Lanka.

 

Tel: (00 94 11) 238 4633 / 471 4019 / 537 4169 /

Fax: (00 94 11) 238 7705

 

E-mail: jkimport@jkimport.com

 

g.

No. of Employees

:

Approximately  25

GENERAL - Basic information at a glance

 

 

COMPANY DETAILS  - Registration and Shareholder Details

 

 

a.

Registration No

:

N(PVS) 25318

Date of Registration

:

06th January 2000

b.

Re-registration No

:

PV 10823

Date of Re Re-registration

:

09th January 2009

c.

Registered Office

:

# 105, Bankshall Street, Colombo 11. Sri Lanka

d.

Board of Directors

As at

28th July 2011

:

Karuppiah Jeyajeewan

Managing Director

Swaminathan  Karuppiah

Director

f.

Issued  Share Capital

:

Rs. 500,000.00   (Total No. of  Issues Shares – 50,000)

g.

Nominal Value of Share

:

Rs.          10.00 

h.

Share Holders

As at

28th July 2011

:

Share Holders

No. of    Shares

Swaminathan  Karuppiah

25,000

Karuppiah Jeyajeewan

25,000

e.

Auditors

:

M. N. Kumar Associates

f.

Company Secretaries

:

M. N. K. Professional Services (Pvt) Ltd

g.

Bankers

:

Indian Bank

 

 

Director Details

 

01)

Name

Swaminathan Karuppiah

ID Number

430182218 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

18th January 1943

Age

 50 Years

Address

#11/1, St. Mary’s Road, Colombo 15

 

02)

Name

Karuppiah Jeyajeewan

ID Number

741880245 V

Nationality

Sri Lankan

Gender

Male

Date of Birth

6th July 1974

Age

 39 Years

Address

#11/1, St. Mary’s Road, Colombo 15

 

 

FINANCIAL DETAILS - Most recent available Financial Information 

 

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

                                                                                   

 

CURRENT INVESTIGATION                      

 

                                                             

                                                                Company Logo

 

History.

 

The Subject Company J. K. IMPORT AND EXPORT COMPANY PRIVATE LIMITED is a Private Limited Liability Company incorporated on 06th January 2000 under registration number N (PVS) 25318 and the company has been re-registered on 09th January 2009 under registration number PV 10823.

 

Subject Company is having two other companies in the JK Group such as:

 

J.K. Trading Co.

J.K. Holding (PVT) Ltd

 

Location.

The Subject Company is located at the client, # 105, Bankshall Street, Colombo 11, which is a highly commercial area within the Colombo city.

 

Operational Details

 

General

The subject company’s primary line of business is Importing, Marketing, distribution and Indenting for plastic raw materials, master batches, chemicals and food stuffs.

 

Products/Services

 

Plastic Raw Materials- Virgin and re-cycled plastic raw materials ((HDPE, LLDPE, PP, HIPS, GPPS) Master Batches (colours-Chilli red, blue, Green, yellow, white) Filler, Chemicals, Moisture Absorbing Materials (PEPA)

Food Items: Rice, Onions, Potatoes, Dhal etc,

Chemicals – Industrial and food grades- Caustic Soda Flakes etc.

Indenting – Spices, Pulses, Beans, Vegetables, Fruits etc.

Film bags Printing – HDPE/PP/LDPE/ Construction films, colour polythene, Carrier/shopping/grocery bags, Lunch Sheets, straws, disposable cups etc.

 

Brands: T Brand Polymer, Laiwu Jade Brand, JK Brand, Jade Brand

 

Importing Countries:

India, China, Taiwan, Malaysia

 

Employees

Approximately 25

 

 

Financial Data

 

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.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.