MIRA INFORM REPORT

Report Date :

17^th May 2006

IDENTIFICATION DETAILS

Name :	FINE FOODS OF THE WORLD (PRIVATE) LIMITED

Registered Office :	House # 2, Main Jail Road, Gulberg - V, Lahore, Pakistan

Date of Incorporation :	2004

Com. Reg. No.:	013653/20040702

Legal Form :	Private Limited Company

Line of Business :	Engaged in the business of Indenting, Distribution & Trading of Food Stuff Items, Chocolates, Energy Drinks

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Business Name

FINE FOODS OF THE WORLD (PRIVATE) LIMITED

Full Address

Registered Address

House # 2, Main Jail Road, Gulberg - V, Lahore, Pakistan

Tel	92 (42) 7249638, 7249639
Fax	92 (42) 7323501
Email	bomba@finefoods.com.pk

Short Description Of Business

Nature of Business

Indenting, Distribution & Trading of Food

Stuff Items, Chocolates, Energy Drinks

Year Established

2004

Registration #

013653/20040702

Branches

Address	Suite 21, Fourth Floor, Sasi Arcade, Schon Circle, Clifton, Karachi, Pakistan
Tel #	92 (21) 5375873, 5375874
Fax #	92 (21) 5370208

Auditors

S.M. Masood & Co.

(Chartered Accountants)

Empire Centre, Main Boulevard, Gulberg II, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2004

Authorised Capital	Rs. 100,000,000/-
Issued & Paid up Capital	Rs. 10,000/-

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Yawar Irfan Khan

Mr. Farrukh Irfan Khan

Mr. Khalik Zaki

Pakistani

House # 2, Main Jail Road, Gulberg - V, Lahore

Suite 21, Fourth Floor, Sasi Arcade, Schon Circle, Clifton, Karachi

Business

Service

Chief Executive

Director

Branch Manager (Operations)

Shareholders

Names

Percentage (%)

Mr. Yawar Irfan Khan

Mr. Farrukh Irfan Khan

Associates

A. Subsidiary

None

B. Associated Companies

Irfan Textiles (Pvt) Limited, Pakistan.

(1) Irfan Foods (Pvt) Limited, Pakistan.

Business Activities

Indenting, Distribution & Trading of Food Stuff Items, Chocolates, Energy Drinks.

Number of Employees

20 - 25

Annual Sales Volume

Year	In Pak Rupees
2005	Not ascertained as the directors do not want to disclose figure of estimated sales

Authorized Distributorship

(1) BOMBA Energia Getraenkevertriebs GmbH, Austria. (Manufacture of Energy Drinks)

Customers

Mainly retailers & traders

Bankers

Muslim Commercial Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

Habib Bank AG Zurich, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 60.38
UK Pound	1	Rs. 113.45
Euro	1	Rs. 77.30

Comments

Subject Company was established in 2004 and is engaged in Indenting, Distribution & Trading of Food Stuff Items, Chocolates, Energy Drinks etc. Whatever information we have gathered and provided above has been obtained with utmost difficulty as the company has not been cooperative in providing any information at all and the information has been obtained through the sources other than the company. Payment of the company are not known. Also the payment behaviour of the company is not discussed as the management of the company remains non-cooperative at all levels. Therefore we do not recommend any credit allowable for the subject company.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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