MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485369

Report Date :

15.01.2018

 

IDENTIFICATION DETAILS

 

Name :

JAS ACTIVE WEAR (PVT) LTD

 

 

Registered Office :

# 62/3, Danture Road, Pilimathalawa

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

19.02.2010

 

 

Com. Reg. No.:

PV 71156

 

 

Legal Form :

Private, Limited Liability Company (In Operation)

 

 

Line of Business :

Manufacturer and Supplier of Finished Garments

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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

 

BASIC INFORMATION

 

a.

Name of Subject of Inquiry

JAS ACTIVE WEAR (PVT) LTD

b.

Legal Form & Status

Private, Limited Liability Company (In Operation)

c.

Managing Director

Mr Mohamed Salliah Mohamed Jiffrey

d.

Primary Line of Business

Manufacturer and Supplier of Finished Garments

e.

Principal Place of Business

# 62/3, Danture Road, Pilimathalawa,

Sri Lanka.

Tel. No: (00 94 11) NA

Fax. No: (00 94 11) NA

E-Mail: NA

Web Site: http://www.jascreation.com/

f.

Employees

NA

 

 

Company Details

 

a.

Registration No

PV 71156

 

 

Date of Registration

19th February 2010

b.

Re-registration No

NA

 

 

Date of Re-registration

NA

c.

Registered Office

# 62/3, Danture Road, Pilimathalawa, Sri Lanka.

d.

Director Board / Ownership As At 14th October 2017

Mohamed Salliah Mohamed Jiffrey

Director

e.

Sated Share Capital

LKR 500,000.00

f.

No. of Shares

50,000

g.

Preferential Shares

NA

h.

Nominal Value of Share

LKR 10.00

i.

Auditors

A Z Associates

j.

Company Secretaries

I L M Consulting (Pvt) Ltd

# 50, Bathiya Mawatha, Kalubowila, Sri Lanka.

k.

Main Bank/s

NA

 

 

Shareholders

 

NO.

NAME

NUMBER OF SHARES

 

1.

Mohamed Salliah Mohamed Jiffrey

24,500

2.

Abdul Fareed Fareeda Umma

25,500

 

 

FINANCIAL DETAILS    

 - Most recent available Financial Information

 

NA

 

 

CURRENT INVESTIGATION

 

 

Company Logo

 

 

·         HISTORY.

 

The subject company was initially formed on 19th February 2010 under PV 71156 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka.

 

 

•   OPERATIONAL DETAILS

 

General

The subject company is a manufacturer of active wear which is supplied to many large scale fashion chains and boutiques in Sri Lanka. The company mainly suppliers brands such as Hameedia, Cool Plant, Fashion Bug, Kandy etc.. The company is a single director company and we have not yet been able to establish any contact with the company. Please provide any additional contact details if possible.

 

Products & Services

Garments (Active Wear)

 

Employees

NA

 

Export Countries

NA

 

Import Countries

India, China, Hong Kong etc..

 

Associate / Subsidiary Companies

NA

 

Factory / Warehouse and Sales Outlets

NA

 

 

Personal Details of Key Persons

 

DIRECTOR 1

 

ITEM

DETAIL

 

Name

Mohamed Salliah Mohamed Jiffrey

ID Number

471953083V

Nationality

Sri Lankan

Gender

Male

Date of Birth

13th July 1947

Age

70 Years

Address

# 171, Mosque Road, Galahinna, Kandy, Sri Lanka.

 

 

INFORMATION DECLINED

 

UNABLE TO CONTACT

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.53

UK Pound

1

INR 86.05

Euro

1

INR 76.53

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 :

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.