MIRA INFORM REPORT

Report Date :

07.08.2014

IDENTIFICATION DETAILS

Name :	J B CARBON ACTIVATORS

Registered Office :	# 150, St. Joseph’s Street, Colombo 14

Country :	Sri Lanka

Date of Incorporation :	Not Available

Legal Form :	Partnership

Line of Business :	Exporters of Activated Carbon

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Sri Lanka

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. 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. 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, but strong remittances from Sri Lankan workers abroad help offset the trade deficit. Government debt of about 80% of GDP remains among the highest in emerging markets

Source : CIA

Company name and address

a.	Name of Subject of Inquiry	:	J B CARBON ACTIVATORS
b.	Legal Form & Status	:	Partnership (in operation)
c.	Managing Partner	:	Turab Jafferjee
d.	Primary Line of Business	:	Exporters of Activated Carbon
e.	Head Office & Places of Business	:	# 150, St. Joseph’s Street, Colombo 14, Sri Lanka. Tel. No: (00 94 11) 243 2051-6/243 0071 Fax. No: (00 94 11) 244 6085/244 7875 E-mail: carbon@jb.slt.lk
f.	No. of Employees	:	Not Disclosed

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No		:	-Not Disclosed-
b.	Date of Registration		:	-Not Disclosed-
c.	Registered Office		:	# 150, St. Joseph’s Street, Colombo 14.
d.	Partners		:	Turab Jafferjee	Managing Partner
			:	Anver Jafferjee	Partner
e.		Bankers	:	Not Disclosed
f.		Auditors	:	Not Disclosed

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

History.

The Subject Company J B CARBON ACTIVATORS is Partnership Company.

The subject company is a member company of the JAFFERJEE GROUP

Note:

The Proprietorship/Partnership companies are being registered at the Provincial

Registrar of Companies and when the owner refuses to provide details such as

Registration number, date of registration, auditors etc., it is not possible to obtain

Such details from the registry

Location.

The Subject Company is located at the client # 150, St. Joseph’s Street, Colombo 14, one of the main business areas in the city.

Operations Details

General

The subject company primary line of business is Exporters of Activated Carbon

Products

Activated Carbon Products (Activated carbons from coconut shell charcoal)

Import Country

USA

No of Employees

Not Disclosed

Financial Data

Based on the corporate laws of Sri Lanka, legal entities which are Private Company with

Limited Liability/Proprietorship/ Partnership is not required to make public disclosure of their

Annual financials. Therefore no financials are available for this entity

Trade references

Coconut Development Authority

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

Information denied By

NAME

Mr. Jafferjee

DESIGNATION

Partner

CONTACT NO.:

009411-2432051

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.34
UK Pound	1	Rs.103.44
Euro	1	Rs.81.96

INFORMATION DETAILS

Information Gathered by :	HTL

Analysis Done by :	SUB

Report Prepared by :	NIS

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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