MIRA INFORM REPORT

Report No. :	495566
Report Date :	03.03.2018

IDENTIFICATION DETAILS

Name :	JINASENA (PVT) LTD

Registered Office :	# 186, Elvitigala Mawatha, Colombo 08

Country :	Sri Lanka

Date of Incorporation :	03.04.1967

Com. Reg. No.:	PV 3568

Legal Form :	Private Limited Liability Company (In Operation)

Line of Business :	Manufacturers, Exporters and Distributors of Machinery for various industries

No. of Employees :	500 + Approximately

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	No Complaints

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 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 almost 80% 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

Name of Subject of Inquiry	JINASENA (PVT) LTD
Legal Form & Status	Private Limited Liability Company (In Operation)
Chairman	Mr Jinasena Tissaweera Rohan
Primary Line of Business	Manufacturers, Exporters and Distributors of Machinery for various industries
Principal Place of Business	# 186, Elvitigala Mawatha, Colombo 08 Sri Lanka. Tel. No: (00 94 11) 2688966 / 2684911-12 / 2684917-18 Fax. No: (00 94 11) 2688969 E-Mail: jinasena@jinasena.com.lk Web Site: http://www.jinasena.com/
Employees	500 + Approximately

Company Details

Registration No	PVS 2495
Date of Registration	03^rd April 1967
Re-registration No	PV 3568
Date of Re-registration	30^th April 2008
Registered Office	# 186, Elvitigala Mawatha, Colombo 08, Sri Lanka.
Board of Directors As At 14^th October 2017	Jinasena Tissaweera Roshan	Director
	Jinasena Ruvani	Director
	Jinasena Roshani Asanthi	Director
	Amarasuriya Anil Suneetha	Director
	Bertholomeuz David Nigel	Director
	Wijayapala Mahawatachchi Danushka Samantha	Director
Issued Share Capital	LKR 252,151,750.00
No. of Shares	25,215,175
Preferential Shares	NA
Nominal Value of Share	LKR 10.00
Auditors	K P M G Chartered Accountants # 32 A, Sir Mohamed Macan Marker Mawatha, Colombo 03, Sri Lanka.
Company Secretaries	S S P Corporate Services (Pvt) Ltd # 101, Inner Flower Road, Colombo 03, Sri Lanka.
Main Bank/s	Bank of Ceylon

Shareholders

NO.	NAME	NUMBER OF SHARES
1.	Jinasena Tissaweera Rohan	25,215,168
2.	Fernando Roshini Samantha	01
3.	Jinasena Rohantha Nishan	04
4.	Jinasena Ruvani	01
5.	Jinasena Roshani Asanthi	01

FINANCIAL DETAILS

Most recent available Financial Information

CURRENT INVESTIGATION

WNCt »90S

JINASENA[ PVT] LIMITED

Company Logo

· History.

Amalgamated with Jinasena Engineering Holdings (Pvt) Ltd on 24^th May 2011

Amalgamated with Subject Ji (Pvt) Ltd (main) /Jinasena Seals (Pvt) Ltd/Jinasena Casting (Pvt) Ltd/ J Electric Motors (Pvt) Ltd/ Ji Pumps (Pvt) Ltd/ Ji Industrial Appliances (Pvt) Ltd on 11^th December 2012

The subject company was formed on 03^rd April 1967 under PVS 2495 under the companies Act of Sri Lanka, and subsequently Re-registered on 30^th April 2008 under PV 3568 under the Companies Act No 7, of 2007 as per the mandatory regulations of Sri Lanka. The subject company has over 18 branches located Island wide for Sale and Servicing and is a recognized entity with many awards to its name.

· Caption

Jinasena Limited was founded in 1905 as a bicycle-repair shop but soon moved into machinery repairs. Its founder, C.Jinasena, was a man of vision. He was a chartered engineer by profession and was educated in the UK. Sri Lanka at that time was known as Ceylon and was under colonial rule. Engineering - like many areas of enterprise - was the sole preserve of the British. When Jinasena Limited moved from servicing and repairing machinery used extensively in the tea and rubber industries into manufacturing these very same machines

Jinasena Limited was the first Ceylonese owned engineering company - and by 1932, it was rated among the five leading engineering companies in the island.In 1950, the son of the founder T. S. Jinasena designed and manufactured the first Jinasena Centric Water Pump. After years of servicing and repairing foreign water pumps

The Jinasena Group also has interests in diverse fields, including hotel operations, generators, pneumatic rubber tyres, garments and agricultural machinery. Its agricultural machinery centres around a mission to design and manufacture mechanised farming equipment that is suited to farming conditions in Sri Lanka - in particular, the relatively small paddy fields in rural areas. The range of tractors, threshers, reapers, choppers and weeders really began to make their presence felt when the brand quickly gained the trust of the rural Sri Lankan farmer, who is traditionally extremely sceptical about the mechanisation of time-tried methods.

· Operational Details.

General

The subject company is a highly reputed and regarded company in Sri Lanka spanning decades of operations and has won the hearts of many a Sri Lankan. The company initially launched its operations with water pumps and has now grown and diversified into many industries inclusing hospitality, rubber etc...

Products

Water Pumps & Various Pumps for other applications

Agricultural Machinery

Water Purifiers

Electric Motors

Drips & Sprinklers

Grid Banks

Machinery Services

Renewable Energy Systems (Solar Power systems, Turbines, Electric Bikes, Lighting sytems, LED Lights, Grids)

Own Brands

CENTRIC - PUMPS (SRI LANKA)

ROBIN - PUMPS (SRI LANKA)

JINASENA SOLAR - (SRI LANKA)

AGRIMEC - PUMPS (SRI LANKA)

SINHA - PUMPS (SRI LANKA)

Employees

500 + Approximately

Export Regions

Maldives, UK, Australia, Japan, USA

Import Regions

China, India, Japan

Associate Companies

Royal Lotus Hotel (Pvt) Ltd

The Deer Park Hotel (Pvt) Ltd

Jinasena Industrial Park

Jinasena Ltd

Jinasena Castings Ltd

Jinasena Electric Motors

Jinasena Agricultural Machinery

Jinasena Pumps Ltd

Jinasena Engineering Technologies

Almeco (Pvt) Ltd

Loadstar (Pvt) Ltd

Hessing Garments Ltd

Factory Complex

Industrial Zone, Ekala, Ja-Ela

Warehouse:

218,Minuwangoda Road, Ekala, Ja-ela.

Sales Offices:

Kandy,Kurunegala,Dambulla,Nuwaraeliay,Anuradhapura,Buttala,Beruwela,Bandarawela,Kaduruwela,Galle,Ampara,Ekala,Puwakpitiya,Tambuttegama,Girandurukotte,Embilipitiya,Puttalam,Trincomalee,Tissamaharama

Personal Details of Key Persons

Director 1

ITEM	DETAIL
Name	Jinasena Tissaweera Rohan
ID Number	431281953V
Nationality	Sri Lankan
Gender	Male
Date of Birth	07th May 1943
Age	74
Address	# 8/6, Kirimandala Mawatha, Nawala, Sri Lanka.

Director 2

ITEM	DETAIL
Name	Jinasena Ruvani
ID Number	467440692V
Nationality	Sri Lankan
Gender	Female
Date of Birth	31st August 1946
Age	71
Address	# 8/6, Kirimandala Mawatha, Nawala, Sri Lanka.

Director 3

ITEM	DETAIL
Name	Jinasena Roshani Asanthi
ID Number	835743942V
Nationality	Sri Lankan
Gender	Female
Date of Birth	14th March 1983
Age	34
Address	# 8/6, Kirimandala Mawatha, Nawala, Sri Lanka.

Director 4

ITEM	DETAIL
Name	Amarasuriya Anil Suneetha
ID Number	532580650V
Nationality	Sri Lankan
Gender	Male
Date of Birth	14th September 1953
Age	64
Address	# 8/22A, Liyanage Mawatha, Nawala, Sri Lanka.

Director 5

ITEM	DETAIL
Name	Bertholomeuz David Nigel
ID Number	702761620V
Nationality	Sri Lankan
Gender	Male
Date of Birth	02nd October 1970
Age	47
Address	# 15/4 A, 3rd Lane, Off Chanda Wettasinghe Mawatha, Off Koswatte Road,Nawala, Sri Lanka.

Director 6

ITEM	DETAIL
Name	Wijayapala Mahawatachchi Danushka Samantha
ID Number	773261318V
Nationality	Sri Lankan
Gender	Male
Date of Birth	21st November 1977
Age	40
Address	# 28/2, De Fonseka Place, Colombo 05, Sri Lanka.

INFORMATION DENIED

Management non co-operative [(00 94 11) 2688966 / 2684911]

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
LKR	1	INR 0.42

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

INFORMATION DETAILS

Information Gathered by :	PUJ

Analysis Done by :	PRI

Report Prepared by :	TRU

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.