3decades

MIRA INFORM REPORT

Report No. :	480620
Report Date :	06.01.2018

IDENTIFICATION DETAILS

Name :	JAYASEKARA MOTORS (PRIVATE) LIMITED

Registered Office :	201, Panchikawatta Road, Colombo 10

Country :	Sri Lanka

Date of Incorporation :	04.08.1994

Com. Reg. No.:	PV 7204

Legal Form :	Private Limited Liability Company

Line of Business :	Importers and Distributors of Motor Spare parts & Accessories

No. of Employees :	22

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	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

(30.06.2017)

Current Rating

(30.09.2017)

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 an IMF program. 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 77% of GDP and remains among the highest of the emerging markets.

The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

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	JAYASEKARA MOTORS (PRIVATE) LIMITED
b.	Legal Form & Status	Private Limited Liability Company (In Operation)
c.	Managing Director	Mr M A Anura Jayasekara
d.	Primary Line of Business	Importers and Distributors of Motor Spare parts & Accessories
e.	Principal Place of Business	201, Panchikawatta Road, Colombo 10 Sri Lanka. Tel. No: (00 94 11) 2446779 Fax. No: (00 94 11) 2424864 E-Mail: jayamoto@sltnet.lk Web Site: NA
f.	Employees	22 Approximately

Company Details

	Registration No	N (PVS) 13480
	Date of Registration	1994 / 08 / 04
b.	Re-registration No	PV 7204
b.	Date of Re-registration	2008 / 09 / 05
c.	Registered Office	201, Panchikawatta Road, Colombo 10, Sri Lanka
		Mahadura Anura Jayasekara	Director
	Board of Directors	Mahadura Ranjith Jayasekara	Director
d.	As At 20th October 2016	Mahadura Ajith Jayasekara	Director
		Mahadura Anil Jayasekara	Director
e.	Issued Share Capital	LKR 350,000.00
lk	No. of Shares	35,000
g.	Preferential Shares	NA
h.	Nominal Value of Share	LKR 10.00
i.	Auditors	Jayaweera & Co. - No 50, 18-1/1, Sir James Peiris Mawatha, Colombo 02
j.	Company Secretaries	Nadeeja Dhanushka Jayasekara No 11/110, Kingstone Villa, 01st Lane, Kandy Road, Kelaniya
k.	Main Bank/s	Commercial Bank of Ceylon, People's Bank, Hatton National Bank

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Mahadura Ranjith Jayasekara	17,499
2.	Mahadura Anura Jayasekara	17,499
3.	Mahadura Ajith Jayasekara	01
4.	Mahadura Anil Jayasekara	01

FINANCIAL DETAILS

- Most recent available Financial Information

CURRENT INVESTIGATION

Company Logo

History.

The subject company was formed on 04th August 1994 under N (PVS) 13480 under the Companies act of Sri Lanka. The company was subsequently Re-registered on 05th September 2008 under PV 7204 under the Companies Act No 7, 2007 as per the mandatory regulations for ROC listed companies

Operational Details.

General

The subject company is listed under importing and distribution of Motor spares and Accessories in Sri Lanka. The company is located in the prime motor spare parts area of Sri Lanka. The company carries our direct imports from various countries such as Japan, Singapore, India etc..

Products

Motor Spare Parts & Accessories (Motor Car, Coach, Lorry, SUV's, Trucks etc.. for all types of brands and types

Employees

22 Approximately

Import Countries

Indian, China, Singapore, Dubai

Associate Companies

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Mahadura Ranjith Jayasekara
ID Number	530501981V
Nationality	Sri Lankan
Gender	Male
Date of Birth	19th February 1953
Age	63 Years
Address	31, Karlshrua Gardens, Colombo 08

Director 2

ITEM	DETAIL
Name	Mahadura Anura Jayasekara
ID Number	622980100V
Nationality	Sri Lankan
Gender	Male
Date of Birth	24th October 1962
Age	53 Years
Address	59, Alexandra Place, Colombo 07

Director 3

ITEM	DETAIL
Name	Mahadura Ajith Jayasekara
ID Number	683340243V
Nationality	Sri Lankan
Gender	Male
Date of Birth	29th November 1968
Age	47 Years
Address	59, Alexandra Place, Colombo 07

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.38
UK Pound	1	INR 86.02
Euro	1	INR 76.50
LKR	1	INR 0.41

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

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	KET

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.