MIRA INFORM REPORT

 

 

Report Date :

17th November, 2006

 

IDENTIFICATION DETAILS

 

Name :

TRAFCO LOGISTICS (PRIVATE) LIMITED

 

 

Registered Office :

Trafco House, 2nd Floor, 1-C-1 Canal Bank Road, Canal Park Gulberg-III, Lahore, Pakistan

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1992

 

 

Com. Reg. No.:

L-04716

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Freight Forwarding Business

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

 

Company  Name    

 

TRAFCO LOGISTICS (PRIVATE) LIMITED  

 

 

 Full Address      

 

Registered Address

Trafco House, 2nd Floor, 1-C-1 Canal Bank Road, Canal Park Gulberg-III, Lahore, Pakistan

Tel                          92 (42) 5760071, 5760727, 5871170

Fax                         92 (42) 5871172, 5760907, 5760906

Email                      tipl@brain.net.pk

 

 

Short Description Of Business

 

a.            Nature of Business         Freight Forwarding Business

b.            Year Established            1992

c.            Registration #                 L-04716

 

 

Branches

 

Address                          Office # 3, Ground Floor, Pak Chamber West Wharf Road, Karachi, Pakistan

Tel #                               92 (21) 2200153, 2200150

Fax #                              92 (21) 2312978

Email                              tipltkhi@cyber.net.pk

 

Address                          8-A, Mezzanine Floor, Kulsum Plaza Jinnah Avenue, Blue Area, Islamabad, Pakistan

Tel #                               92 (51) 2826032, 2826580

Fax #                              92 (51) 2826098

Email                              tipl@isb.pol.com.pk

 

 

Auditors

           

Ahmad Usman Shabbir & Co.

(Chartered Accountants)

Suite # 319, Eden Centre, 43 Jail Road, Lahore, Pakistan

 

 

 

Legal Status       

 

Subject Company was established as a Private Limited Company in 1992

 

 

Authorised Capital

 

Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each

 

 

Issued & Paid up Capital

 

Rs. 2,000,000 divided into 20,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Occupation

Designation

Mr. Tahir Malik

 

Mrs. Sultana Riaz

 

Mr. Muhammad Arif Khan

 

Mrs. Suboohi Tahir

Pakistani

 

Pakistani

 

Pakistani

 

Pakistani

Business

 

House Wife

 

Business

 

House Wife

Chief Executive

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Tahir Malik

 

Mrs. Sultana Riaz

 

Mr. Muhammad Arif Khan

 

Mrs. Suboohi Tahir

2,550

 

10,150

 

2,150

 

5,150

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                                

           

B.         Associated Companies

 

(1) Trafco Tracking (Private) Limited, Pakistan.

 

 

Services

 

Subject Company offer services for a wide range including Dry  Cargo, Over-Dimensional Cargo / Out of Gauge Cargo, Hazardous / Dangerous Cargo, Perishable Cargo, Household Cargo, Break Bulk Cargo, Hanging Garments. Whereas, Rainbow Services offer the following range which includes Air Freight, Sea Freight, Sea-Air  / Air-Sea movement, Cellular Logistics, Project Handling, Inland Transportation, Exhibition Transportation, Warehousing, Consolidation, Packing & Crating, Customs Brokerage Services

 

 

Number of Employees

 

70 - 75

 

 

Annual Service Revenue

 

Year                                                                         In Pak Rupees

2005                                                                         100,000,000/- (Estimated)

 

 

Customers

 

 Mainly Private Organisations, Multinational Companies, Trading Agencies, Corporations etc (Approximately 250)

 

 

Bankers

 

Habib Bank Limited, Pakistan

Faysal Bank Limited, Pakistan.

Askari Commercial Bank Limited, Pakistan.

 

 

Financial Position

 

 Sound.

 

 

Memberships / Affiliations

 

Lahore Chamber of Commerce & Industry.(LCCI)

International Federation of Freight Forwarding Association.(FIATA)

Pakistan International Freight Forwarders Association.(P.I.F.F.A.)

Pakistan Shipping Council.(PSC)

Karachi Chamber of Commerce & Industry.(KCCI)

Customs Agent Association.(CSA)

 

 

Foreign Exchange Rates

 

Currency                            Unit          Pakistani Rupees

US Dollar                              1                  Rs. 60.80  

UK Pound                             1                 Rs. 114.50 

Euro                                     1                 Rs. 77.60

 

Comments

 

Trafco Logistics was established as a Private Limited Company in 1992, Since then it is offering full range of freight forwarding services. Subject has expanded its business to important commercial cities i.e. Karachi, Lahore, Islamabad, Sialkot, Faisalabad and almost all the International airports, seaports and dry ports of Pakistan. Subject is a fully licensed company having all required approvals by the Government as well as international affiliations with organizations, Worldwide. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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