MIRA INFORM REPORT

Report No. :	480620.2
Report Date :	10.01.2018

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 (In Operation)
Line of Business :	Importers and Distributors of Motor Spare parts & Accessories
No. of Employees :	22 Approximately

RATING & COMMENTS

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

MIRA’s Rating :

B

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	A2	A2

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

Name of Subject of Inquiry	JAYASEKARA MOTORS (PRIVATE) LIMITED
Legal Form & Status	Private Limited Liability Company (In Operation)
Managing Director	Mr M A Anura Jayasekara
Primary Line of Business	Importers and Distributors of Motor Spare parts & Accessories
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
Employees	22 Approximately

Company details

Registration No	N (PVS) 13480
Date of Registration	1994 / 08 / 04
Re-registration No	PV 7204
Date of Re-registration	2008 / 09 / 05
Registered Office	201, Panchikawatta Road, Colombo 10, Sri Lanka
Board of Directors As At 20^th July 2017	Mahadura Anura Jayasekara	Director
	Mahadura Ajith Jayasekara	Director
	Hewagama Pathiranage Thanuja Nilangani Jayasekara	Director
Issued Share Capital	LKR 350,000.00
No. of Shares	35,000
Preferential Shares	NA
Nominal Value of Share	LKR 10.00
Auditors	Jayaweera & Co. – No 50, 18-1/1, Sir James Peiris Mawatha, Colombo 02, Sri Lanka.
Company Secretaries	Amarasinghege Priyantha Upali Amarasighe #204, 1^st Lane, Dewala Road, Thalangama South, Battaramulla, Sri Lanka.
Main Bank/s	Commercial Bank of Ceylon, People’s Bank, Hatton National Bank

Shareholders

NO. NAME NUMBER OF SHARES

1. Mahadura Anura Jayasekara 34,999

2. Mahadura Ajith Jayasekara 01

FINANCIAL DETAILS

Most recent available Financial Information

NA

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 05^th 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

NA

Personal Details of Key Persons

Director 1

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

Director 2

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

Director 3

ITEM	DETAIL
Name	Hewagama Pathiranage Thanuja Nilangani Jayasekara
ID Number	N2568102
Nationality	Sri Lankan
Gender	Female
Date of Birth
Age
Address	59, Alexandra Place, Colombo 07, Sri Lanka.

INFORMATION DENIED

Management non-co-operative [0094-11-2446779]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.47
UK Pound	1	INR 86.15
Euro	1	INR 75.92
LKR	1	INR 0.41

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

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	VAR
Report Prepared by :	TPT

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.