MIRA
INFORM REPORT
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Report Date : |
09.07.2007 |
IDENTIFICATION DETAILS
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Name : |
YOUNGS (PRIVATE) LIMITED |
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Registered Office : |
293/16,
Block 3, B.Y.J.C.H.S., Bahadurabad, |
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Country : |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
00000011031 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture &
Marketing of Food & Allied Products |
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 : |
Regular |
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Litigation : |
Clear |
Business Name
YOUNGS (PRIVATE) LIMITED
FORMERLY
YOUNGS FOOD PRODUCTS
Full Address
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Registered Address |
Factory Address |
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293/16,
Block 3, B.Y.J.C.H.S., Bahadurabad, Karachi, Pakistan. |
C 1(D)-3, Sector16, Korangi Industrial Area 74000 Karachi, Pakistan. |
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Tel |
92 (21) 4855654,
4855655, 4855656 |
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Tel |
92 (21) 5069572 |
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Fax |
92 (21) 4855657 |
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Fax |
92 (21) 5069573 |
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Website |
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Short Description Of
Business
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Nature of Business |
Manufacture & Marketing of Food & Allied Products. |
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Year Established |
1988 |
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Registration # |
00000011031 |
Legal Advisor
Professional Management
Solutions
1st Floor, Aleem Centre,
Legal Status
Subject Company was established as a Proprietorship Business in 1988. In May, 2005 it was converted to Private Limited Company
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Authorised Capital |
Rs. 100,000,000/-
divided into 10,000,000 shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 49,999,960/-
divided into 4,999,996 shares of Rs. 10/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Sohail Younus Mr. Mansoor Ahmed Mr. Muneer Ahmed Mr. Atif Ahmed |
Pakistani Pakistani Pakistani Pakistani |
284-B, Block 3, K.A.E.C.H.S., Karachi D-21, Block 1, K.A.E.C.H.S., Karachi D-21, Block 1, K.A.E.C.H.S., Karachi D-21, Block 1, K.A.E.C.H.S., Karachi |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
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Names |
No. of Shares |
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Mr. Sohail Younus Mr. Mansoor Ahmed Mr. Muneer Ahmed Mr. Atif Ahmed |
2,249,999 1,249,999 749,999 749,999 |
Associated Companies
(1) Young’s Global (Private) Limited,
(2)
Products
Mayonnaise, Chicken Spread,
Number of Employees
160
Annual Production
Volume
The capacity and production of the company’s plant is
indeterminable as it is multi-product and involves varying processes of
manufacture.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
350,000,000/- (Estimated) |
Customers
Currently in over
80 geographical areas including Metropolitan cities, large cities and small
towns spanning in all four provinces of
Exporting Countries
Mainly to GCC
and
Bankers and their
addresses
MCB Bank Limited, Bahadurabad Branch,
Bank Al Falah, Shahrah -e- Faisal Branch,
Habib Bank AG
Meezan Bank Limited, 3rd Floor,
Financial Position
Sound
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupees |
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US Dollar |
1 |
Rs. 61.10 |
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UK Pound |
1 |
Rs. 122.00 |
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Euro |
1 |
Rs. 82.60 |
Company Information
Youngs Food Products was established in 1988 and since then it has been providing food across the globe of excellent taste and quality. In line with its expansion strategy, HBG Holdings, the Dubai-headquartered, consumer products group, recently signed an exclusive distribution deals with the subject company. Young’s Food Products will now be marketed and distributed by HBG, adding a new dimension to HBG’s extensive portfolio of some of the best name brands in the world including Kraft Foods, Unilever, Kellogg’s, Wrigley, Heinz, Chupa Chups, Hero, California Gardens, Diamond, Sanita, Najjar Coffee. Under the terms of this agreement, HBG will exclusively market and distribute the company’s ‘French’ brand of mayonnaise, chicken and sandwich spreads and honey along with its ‘Shangrila’ brand of exquisite Oriental sauces from the South East and a wide variety of exotic pickles, across the UAE, Oman, Jordan and Qatar.
Comments
Subject Company was established in 1988 and is engaged in manufacture & marketing of Food Products. Directors of the Company are reported as experienced & resourceful businessmen. The Company 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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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%)