MIRA
INFORM REPORT
|
Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HI-TECH PIPE & ENGINEERING INDUSTRIES |
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Registered Office : |
X-22, S.I.T.E., Kotri, Hyderabad |
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Country : |
Pakistan |
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Date of Incorporation : |
2005 |
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Legal Form : |
Partnership Business |
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Line of Business : |
Manufacture & Marketing of Polythelene
Pipes. Also engaged in import of High Density Polythelene & Raw Material |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
HI-TECH PIPE &
ENGINEERING INDUSTRIES
Full Address
|
Registered
Address & Factory |
|
X-22, S.I.T.E., Kotri, Hyderabad, Pakistan |
|
Tel |
92 (22) 3870614 - 15 |
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Fax |
92 (22) 3870606 |
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Email |
Short Description Of
Business
|
a. |
Nature of Business |
Manufacture
& Marketing of Polythelene Pipes. Also engaged in import of High Density
Polythelene & Raw Materials |
|
b. |
Year Established |
2005 |
|
c. |
National Tax # |
2207858 |
Factory 2 Location
|
Address |
8 K.M., Short of Kasur Iqbal Nagar, Kasur, Punjab, Pakistan |
|
Tel # |
92 (492) 716391 |
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Fax # |
92 (492) 716091 |
Branches
|
Address |
Suite # 29, Crown Plaza, Opp Urdu Science College, Gulshan-e-Iqbal,
Karachi, Pakistan |
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Tel # |
92 (21) 4992573 |
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Fax # |
92 (21) 4992573 |
Legal Status
|
Subject Company was established as a Partnership business in 2005 |
Details of Managing Partner
/ Partners
|
Names |
Nationality |
Address |
Designation |
|
Mr. Haji Sirajuddin Soomro Mr. Qasim Soomro Mr. Saifullah Khalid
Soomro Mr. Naeem Naqvi |
Pakistani Pakistani Pakistani Pakistani |
X-22, S.I.T.E.,
Kotri, Hyderabad X-22, S.I.T.E.,
Kotri, Hyderabad X-22, S.I.T.E.,
Kotri, Hyderabad X-22, S.I.T.E.,
Kotri, Hyderabad |
Managing Partner Partner Partner Factory Manager |
Associates
A. Subsidiary
None
B. Associated
Companies
- Do -
Business Activities
Subject Company is engaged in the business
as manufacture & marketing of
Polythelene Pipes. Also engaged in import of High Density Polythelene & Raw
Materials.
It purchases raw material against L/C, T.T.
basis.
It sells against Cash / Credit terms.
It’s mainly import from China, Iran & Japan.
Its major customers are Traders,
Distributors in Interior Sind & Punjab, Karachi, Hyderabad, Lahore &
Rawalpindi.
Subject operates from caption leased factory
premises which is situated in industrial area.
Subject employs about 100 persons in its set up.
Trade Suppliers
(Foreign)
|
(1) POLYTHELENE MALAYSIA SDN BHD, MALAYSIA. (2) WUXI SHENGDA PLASTIC PIPES WELDING MACHINE CO. LTD, CHINA. |
Production
Capacity
Approximately 1,200 Metric Tons per month
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
30,000,000/-
(Estimated) |
Bankers
(1) MCB Bank Limited,
Pakistan.
(2) Bank
Alfalah Limited, Pakistan.
(3) Faysal
Bank Limited, Pakistan.
Foreign Exchange
Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 60.70 |
|
UK Pound |
1 |
Rs. 120.80 |
|
Euro |
1 |
Rs. 87.10 |
Comments
Subject Company was established in 2005 and
is engaged in manufacture & marketing
of Polythelene Pipes. Also engaged in import of High Density Polythelene &
Raw Materials. Market reputation is good. Trade relations are reported
as fair. Subject Company can be
considered for normal business dealings at usual trade terms and conditions.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)