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MIRA
INFORM REPORT
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Report Date : |
12th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MASTER ENTERPRISES (PVT) LIMITED |
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Registered Office : |
S-30, S.I.T.E., Mauripur Road, Adj. PAF
Base Masroor, Karachi, Pakistan |
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Country : |
Pakistan |
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Date of Incorporation : |
1963 |
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Com. Reg. No.: |
KAR-1375 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture
and marketing of Foam Products,
Mattresses, cushions etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Usually
Correct |
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Litigation : |
Clear |
Business Name
MASTER ENTERPRISES (PVT) LIMITED
Full Address
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Registered
Address & Factory |
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S-30, S.I.T.E., Mauripur Road, Adj. PAF Base Masroor, Karachi, Pakistan |
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Tel |
92 (21)
2579980, 2579981 |
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Fax |
92 (21) 2354747, 2354739 |
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Website |
Short Description Of Business
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a. |
Nature of Business |
Manufacture
and marketing of Foam Products,
Mattresses, cushions etc |
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b. |
Year Established |
1963 |
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c. |
Registration No |
KAR-1375 |
Branches
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Address |
Master House,
54 - Darul Aman Cooperative Housing Society, Karachi,
Pakistan |
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Tel # |
92 (21)
4558681, 4385032, 4385033 |
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Fax # |
92 (21)
4549264 |
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Address |
Malik
Square Near Plaza Cinema, M.A. Jinnah Road, Karachi, Pakistan |
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Tel # |
92 (21)
7720231 |
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Fax # |
92 (21)
7722701 |
Auditors
M/s Rao & Co.
(Chartered Accountants)
4 - Karachi Chambers, Hasrat Mohani Road, Karachi, Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 1963
Authorised Capital
Rs. 10,000,000/- divided into 10,000/- shares of Rs. 1000/- each
Issued & Paid up Capital
Rs. 6,800,000/- divided into
6,800/- shares of Rs. 1000/- each
Detail of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Nadeem Malik Mr. Naveed Malik Mr. Najeed Malik Mrs. Jamshed Malik |
Pakistani Pakistani Pakistani Pakistani |
Plot # 75, Khayaban-e-Shaheen, Phase 6, DHA, Karachi D - 42, KDA Scheme No. 1, Karachi Plot # 321, Block K, Phase 1, L.C.C.H.S, Lahore 168/E, Block III, PECHS, Karachi |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
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Names |
No. of Shares |
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Mr. Nadeem Malik Mr. Naveed Malik Mr. Najeed Malik Mrs. Jamshed Malik |
1,360 1,360 1,360 2,720 |
Associated Companies
Durafoam
(Pvt) Limited, Pakistan.
Master
Chemicals Limited, Pakistan.
Master
Tex Limited, Pakistan.
Procon
Engineering (Pvt) Limited, Pakistan.
Khyber
Plastic & Polymers Inds. Limited, Pakistan.
Fomulation
Company (Pvt) Limited, Pakistan.
Maestro
Advertising (Pvt) Limited, Pakistan.
Master
Textile Mills Limited, Pakistan.
Master
Motor Corporation Limited, Pakistan.
Product/Services
Manufacture of Foam Mattresses, Spring Mattresses, Pillows, Cushions, Seats, Underlay, Master Beds and Sofa-cum-Beds by their brand name of “MASTER”
Number of Employees
185 - 200
Annual Sales Volume
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Year |
In Pak Rupees |
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2005 |
300,000,000/- (Estimated) |
Authorised Dealers (In
Pakistan)
More than 70 dealers in all major
cities of Pakistan.
Financial Position
Sound
Bankers and their addresses
Bank Alhabib Limited, Mackinnons Building, I.I. Chundrigar Road, Karachi, Pakistan.(Mortgage obtained PKR 182,000,000/-)
(2) Bank Alfalah Limited, Main Branch, I.I.
Chundrigar Road, Karachi, Pakistan.
Memberships
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Karachi Chamber of Commerce &
Industry.(KCCI)
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.72 |
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UK Pound |
1 |
Rs. 118.15 |
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Euro |
1 |
Rs. 78.75 |
Comments
Subject Company was established in 1963 and is engaged in manufacture of high quality Foam Mattresses and Cushions etc. All the directors of the company are reported as qualified, resourceful and experienced businessmen. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.
RATING EXPLANATIONS
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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 |
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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/normal. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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