MIRA INFORM REPORT

 

 

Report Date :

29th December, 2006

 

IDENTIFICATION DETAILS

 

Name :

PEARL COMMODITIES

 

 

Registered Office :

Room # 106, 1st Floor, Hussain Trade Centre, Shahrah-e-Liaquat, New Challi, Karachi, Pakistan

 

 

Country :

Pakistan

 

 

Date of Incorporation :

2004

 

 

Com. Reg. No.:

0286566

 

 

Legal Form :

Proprietorship Business

 

 

Line of Business :

Import & Trading of Pulses, Spices, Cheak Peas, Garlic, Ginger 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

Business Name

 

PEARL COMMODITIES

 

 

Full Address       

 

Registered Address

Room # 106, 1st Floor, Hussain Trade Centre, Shahrah-e-Liaquat, New Challi, Karachi, Pakistan

                       

Tel

92 (21) 2210585, 2210586

Fax

92 (21) 2275640

 

 

Short Description Of Business

 

a.

Nature of Business        

Import & Trading of Pulses, Spices, Cheak Peas, Garlic, Ginger 

b.

Year Established

2004

c.

Registration #

0286566

 

 

Branches

 

Address

Suite # 4/29, Abid Chambers, Shahrah-e-Liaquat, New Challi, Karachi, Pakistan

Tel #

92 (21) 2625045, 2625039

Fax #

92 (21) 2218914

 

 

Legal Status

           

Subject Company was established as a Proprietorship Business in 2004

 

 

Details of Proprietor

 

Names

Nationality

Address

Occupation

Designation

Mr. Saleem Bakkali

Pakistani

Room # 106, 1st Floor, Hussain Trade Centre, Shahrah-e-Liaquat, New Challi, Karachi

Trading Business

Proprietor

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None

           

 

B.         Associated Companies

 

(1) Bakali Company, Pakistan.   

 

 

Business Activities

 

Subject Company is engaged in the business as import & trading of Pulses, Spices, Cheak Peas, Garlic, & Ginger.

 

It sells against Cash / Credit terms.

 

It’s mainly import from India, China, Australia, Canada, Burma, Singapore.

 

Its’ major customers are traders from main commercial markets in Karachi.

 

Subject operates from caption leased office premises of area measuring 1,160 Sq.ft. which is situated in commercial area.

 

Subject employs about 5 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2005

11,000,000/- (Estimated)

 

 

Bankers and their addresses

 

Prime Commercial Bank Limited, Marriot Road Branch, Karachi, Pakistan.

 

 

Memberships

 

Karachi Chamber of Commerce & Industry.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

Rs. 60.53

UK Pound

1

  Rs. 119.15

Euro

1

Rs. 79.15

           

       


Comments

 

Subject Company was established in 2004 and is engaged in import & trading of Pulses, Spices, Cheak Peas, Garlic & Ginger. Trade relations are reported as fair. Payments to creditors etc are reported as normal. Subject 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/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

 

 

 

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