MIRA INFORM REPORT

 

 

Report Date :

21.12.2007

 

IDENTIFICATION DETAILS

 

Name :

IMPORIENT CHEMICALS (PRIVATE) LIMITED

 

 

Registered Office :

T-09, 3rd Floor, Hafeez Centre, 75-E/1 Hafeez Centre, Main Boulevard, Gulberg III, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1986

 

 

Com. Reg. No.:

0014691

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import & Trading of Textile Chemicals, Industrial Chemicals, Construction Chemicals & various other type of Chemicals

 

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 :

No Complaints

 

 

Litigation :

Clear

 

                       

Business Name

 

IMPORIENT CHEMICALS (PRIVATE) LIMITED

 

 

   Full Address         

 

Registered Address

T-09, 3rd Floor, Hafeez Centre, 75-E/1 Hafeez Centre, Main Boulevard, Gulberg III, Lahore, Pakistan

                       

Tel

92 (42) 5711061- 5

Fax

92 (42) 5711068

Email

chemrite@brain.net.pk

 

 

 

Short Description Of Business

 

a.

Nature of Business           

Import & trading of Textile Chemicals, Industrial Chemicals, Construction Chemicals & various other type of Chemicals

b.

Year Established

1986

c.

Registration #

0014691

 

 

 

Branches

           

Address

22-B, Park Chambers, West Wharf Road, Karachi, Pakistan

Tel #

92 (21) 2316541, 2316542

Fax #

92 (21) 2314802

           

Address

Room # 3, 2nd Floor, Pakistan Market, Katchery Bazar, Faisalabad, Pakistan

Tel #

92 (41) 2636681, 2636682

Fax #

92 (41) 2314802

 

 

 

Auditors

           

M/s Sheikh & Chaudhri

(Chartered Accountants)

2, Punj Mahal Road, Lahore-54000, Pakistan

 

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1986

 

 

 

 

Authorized Capital

Rs. 1,000,000,000/- divided into 10,000,000 shares of Rs. 100/- each

 

Issued & Paid up Capital

Rs. 1,000,000,000/- divided into 10,000,000 shares of Rs. 100/- each

 

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Aslam

 

 

 

 

 

Mr. Muhammad Maqsood-Ul-Hassan

Pakistani

 

 

 

 

 

Pakistani

T-09, 3rd Floor, Hafeez Centre, 75-E/1 Hafeez Centre, Main Boulevard, Gulberg III, Lahore

 

T-09, 3rd Floor, Hafeez Centre, 75-E/1 Hafeez Centre, Main Boulevard, Gulberg III, Lahore

Business

 

 

 

 

 

Business

 

 

 

 

Chief Executive

 

 

 

 

Director

 

 

 

 

 

 

 

Shareholders                 

 

Names

Mr. Muhammad Aslam

 

Mr. Muhammad Maqsood-Ul-Hassan

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                             

           

B.         Associated Companies

 

            - Do -

 

 

 

Products

 

Import & Trading of Textile Chemicals, Industrial Chemicals, Construction Chemicals & various other type of Chemicals.

 

 

 

Number of Employees

 

            45

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2006

200,000,000/- (Estimated)

 

 

 

Trade Suppliers (Foreign)

 

(1)     K.K. CHEMICAL INDUSTRIES, INDIA.

(2)     TAIWAN SURFACTANT CORPORATION, TAIWAN.

(3)     DOW CORNING ASIA, BELGIUM.   

(4)     GELIE CO. LIMITED, SINGAPORE.          

 

 

 

Customers

 

Mainly Textile Companies, Chemical Manufacturers, Trading Companies etc

 

 

 

Bankers and their addresses

 

(1) Bank Al-Habib Limited, 87-Shahrah Quaid-e-Azam, Lahore, Pakistan.

     (Mortgage obtained PKR 200,000,000/-)

 

 

 

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 1986 and is engaged in import & trading of Textile Chemicals, Industrial Chemicals, Construction Chemicals & various other type of Chemicals. Market reputation is good. Trade relations are reported as fair.  Payments to creditors etc are reported as normal. The Company 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.

 

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

 

 

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%)

 

 

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