|
Report Date : |
03.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
J. B ENTERPRISES (PVT) LTD |
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|
|
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Registered Office : |
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|
|
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Country : |
|
|
|
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Date of Incorporation : |
30.09.1999 |
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|
|
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Com. Reg. No.: |
PV 6995 |
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|
|
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Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Export of Spices |
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|
|
No of Employees : |
Not Available |
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. 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 2012-13. 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.
B ENTERPRISES (PVT) LTD |
|
b. |
Legal Form
& Status |
: |
Private
Limited Liability Company (In Operation) |
|
c. |
Chairman |
: |
Punchi
Banda Kahawatte |
|
d. |
Primary Line of
Business |
: |
Export
of Spices |
|
e. |
Head
Office |
: |
#
36/6, Nawala Road, Nugegoda, Sri Lanka. Tel: (00 94 11) 281 5165 / 281 5163 Fax: (00 94 11) 2815166 Email: jbenterprises@sltnet.lk |
|
f. |
No.
of Employees |
: |
Not
Disclosed |
|
a. |
Registration No |
: |
N
(PVS) 24653 |
||
|
Date of Registration |
: |
30th
September 1999 |
|||
|
b. |
Re-registration No |
: |
PV
6995 |
||
|
Date of Re-registration |
: |
27th
August 2008 |
|||
|
c. |
Registered Office |
: |
#
36/6, Nawala Road, Nugegoda |
||
|
d. |
Board of Directors As at 31st December 2012 |
: |
Punchi
Banda Kahawatte |
Chairman |
|
|
Janaka
Banu Kahawatte |
Director |
||||
|
Daminda
Ushan Kahawatte |
Director |
||||
|
f. |
Issued
Share Capital |
: |
Rs.
6,000,000.00 |
||
|
g. |
Nominal Value of Share |
: |
Rs. 10.00 |
||
|
h. |
Share Holders As at 31st December 2012 |
: |
Share Holders |
No. of
Shares |
|
|
Punchi
Banda Kahawatte |
25,000 |
||||
|
Janaka
Banu Kahawatte |
550,000 |
||||
|
Shravithri Kahawatte |
25,000 |
||||
|
i. |
Auditors |
: |
Keerthi Mihiripenna & Company |
||
|
j. |
Company Secretaries |
: |
Harvest
Business Consultants (Pvt) Ltd |
||
|
k. |
Bankers |
: |
Commercial
Bank, Hatton National Bank |
||
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 J .B
.ENTERPRISES is a Private
Limited liability Company incorporated in
30th September 1999 under the registration number N (PVS) 24653 and then the company was
re-registered on 27th
August 2008 under the
registration number PV 6995
·
Location.
The Subject Company is located at the client # 36/6, Perakum Mawatha,
·
Operational
Details.
General
The subject company primary line of business is Export of Spices
Export Products
Coir Fiber, Tea, Rubber, Desiccated
coconut and a variety of Spices, Nutmeg, Cinnamon, Cloves and Black Pepper
Export
Country
Egypt, United Arab Emirates, Yemen, India, Saudi Arabia, Australia, Hong
Kong, China, Pakistan
No
of Employees
Not Disclosed
01)
|
Name |
Punchi Banda Kahawatte |
|
ID Number |
370480818 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
17th February 1937 |
|
Age |
77 Years |
02)
|
Name |
Janaka Banu Kahawatte |
|
ID Number |
673390625 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
4th December 1967 |
|
Age |
46 Years |
03)
|
Name |
Daminda Ushan
Kahawatte |
|
ID Number |
730151829 V |
|
Nationality |
Sri Lankan |
|
Gender |
Male |
|
Date of Birth |
15th February 1973 |
|
Age |
41Years |
·
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
·
Trade references
Not Available
·
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.
|
Rating: |
|
|
a) Business Scale |
NA |
|
b) Business Trend |
NA |
|
c) Management
Capability |
NA |
|
d) Commercial
Morality |
NA |
|
e) Reputation |
NA |
|
f) Market Situation |
Competitive |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.07 |
|
|
1 |
Rs. 103.61 |
|
Euro |
1 |
Rs. 85.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.