3decades

MIRA INFORM REPORT

Report No. :	505831
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	JANA JAYA IMPEX (PVT) LTD

Registered Office :	# F 75, Peoples Park Complex, Colombo 11

Country :	Sri Lanka

Date of Incorporation :	24.10.2013

Com. Reg. No.:	PV 95174

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Import and Distribution of food items

No. of Employees :	Approximately 25

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Medium Risk

Business dealings permissible on a regular monitoring basis

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Sri Lanka

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SRI LANKA - ECONOMIC OVERVIEW

Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.

In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.

Tourism has experienced strong growth during recent years following the resolution of the government's 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.

Source : CIA

COMPANY PROFILE

BASIC INFORMATION

a.	Name of Subject of Inquiry	JANA JAYA IMPEX (PVT) LTD
b.	Legal Form & Status	Private Limited Liability Company (In Operation)
c.	Chairman	Mr Mohammadu Ali Mumthas Ahamad
d.	Primary Line of Business	Import and Distribution of food items
e.	Principal Place of Business	# F 75,Peoples Park Complex, Colombo 11, Sri Lanka. Tel. No: (00 94 11) 7252227 / 0773281287 - Mr Imtiyas Fax. No: (00 94 11) 2332920 E-Mail: ianaiayaimpex@gmail.com Website : NA
f.	Employees	Approximately 25

Company Details

a.	Registration No	PV 95174
	Date of Registration	24^th October 2013
b.	Registered Office	# F 75, Peoples Park Complex, Colombo 11, Sri Lanka.
c.	Board of Directors As At 24.10.2013	Mohammadu Ali Mumthas Ahamad	Director
d.	Issued Share Capital	NA
e.	No. of Shares	01
f.	Preferential Shares	NA
g.	Nominal Value of Share	LKR 10.00
h.	Auditors	Prasad Association Kurunegala, Sri Lanka
i.	Company Secretaries	Mohamed Nisam Mohamed Himtiyas # 96, Sekkupitiya, Kekirawa, Sri Lanka.
j.	Main Bank/s	Seylan Bank PLC, DFCC Bank PLC

Shareholders

NO.

NAME

NUMBER OF SHARES

Mohammadu Ali Mumthas Ahamad

FINANCIAL DETAILS

- Most recent available Financial

CURRENT INVESTIGATION

Company Logo

· HISTORY

The subject company was formed on 24^th October 2013 under PV 95174 under the Companies Act No 7, of 2007 of Sri Lanka.

· OPERATIONAL DETAILS

General

The mentioned organization is a SME sector operation which imports food items from many parts of the world for distribution in Sri Lanka. The company is located in the Colombo main Market where most of the trading activities are happening.

Products

Food Items, Potato, big onion, dried sprats, green mung, dried chili, sago seed

Import Countries

India, Pakistan, Ukraine, Myanmar, Bangladesh, China, Thailand, Canada, USA

Employees

Approximately 25

Personal Details of Key Persons

The following information was found through the registrar of companies:

Director 1

ITEM	DETAIL
Name	Mohammadu Ali Mumthas Ahamad
ID Number	910211510V
Nationality	Sri Lankan
Gender	Male
Date of Birth	21^st January 1991
Age	25 Years
Address	Katukeliyawa, Pubbogama, Sri Lanka.

Information declined

MANAGEMENT NON CO-OPERATIVE

Contact No.: 00 94 11-7252227

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.70
UK Pound	1	INR 93.14
Euro	1	INR 81.43
LKR	1	INR 0.42

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Information gathered by :	GYT

Analysis Done by :	NIY

Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.