MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HADAYAT SONS |
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Registered Office : |
Jan Muhammad |
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Country : |
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Date of Incorporation : |
1994 |
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Legal Form : |
Partnership |
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Line of Business : |
Import &
Distribution of Sanitary Wares, Sanitary Fittings, Tiles, Parquet
Wooden & Laminated Flooring, Gym Equipment & Home Appliances |
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
HADAYAT SONS
Full Address
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Registered Address |
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Jan Muhammad Arcade, |
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Tel |
92 (42) 7588195,
7564623, 7577319 |
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Fax |
92 (42) 7577319 |
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Short Description Of
Business
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Nature of Business |
Import &
Distribution of Sanitary Wares, Sanitary Fittings, Tiles, Parquet
Wooden & Laminated Flooring, Gym Equipment & Home Appliances |
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Year Established |
1994 |
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National Tax # |
2694800 |
Branches
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Address |
Defence |
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Tel # |
92 (42) 6666088, 6666089 |
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Fax # |
92 (42) 6666089 |
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Address |
Plot # 2C, Sunset |
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Tel # |
92 (21) 5386561, 5386562 |
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Fax # |
92 (21) 5386359 |
Legal Status
Subject Company was established as a Partnership business in 1994
Details of Managing Partner
/ Partners
Names
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Nationality |
Address
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Designation |
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Mr. Adnan Sheikh Mr. Omar Khayyam |
Pakistani Pakistani |
Jan Muhammad
Arcade, Jan Muhammad
Arcade, |
Managing Partner Partner |
Associated Companies
None
Business Activities
Subject Company is engaged in import & distribution of Sanitary Wares, Sanitary Fittings, Tiles, Parquet Wooden & Laminated Flooring, Gym Equipment & Home Appliances.
It purchases against L/C, T.T. basis.
It’s mainly import from European & Asian Countries.
Its’ major customers are Construction Companies, Retailers, Traders & Individuals.
Subject operates from caption leased office premises of area measuring 1,300 Sq.ft. which is situated in commercial area.
Subject employs about 20 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
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2006 |
70,000,000/- (Estimated) |
Agencies (Foreign)
(1) ELECTROLUX.
(2) KEROS CERAMICA.
(3) KOHLER.
(4) PERGO.
(5) STAR TRAC.
(6) SHENGDA.
(7) SUN PARATECH.
(8) ZANUSSI.
(9) GROHE.
(10) HARVIA SAUNA.
(11) ICON HEALTH
& FITNESS.
Customers
(1)
(2) PAKISTAN TOBACCO COMPANY LIMITED,
(3) BANK AL-FALAH LIMITED,
(4)
(5) BHP PAKISTAN LIMITED,
(6) HABIB BANK LIMITED,
(7)
(8) ENI PAKISTAN LIMITED,
(9) MCB BANK LIMITED,
(10) STANDARD CHARTERED
(11) NESTLE MILKPAK LIMITED,
(12) UNION BANK LIMITED,
Bankers
Faysal Bank Limited,
Standard Chartered
Habib Metropolitan Bank Limited,
ABN AMRO Bank,
Financial Position
Sound
Memberships
Foreign Exchange
Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 60.98 |
|
UK Pound |
1 |
Rs. 122.90 |
|
Euro |
1 |
Rs. 83.25 |
Comments
Subject Company was established in 1994 and is engaged in import & distribution of Sanitary Wares, Sanitary Fittings, Tiles, Parquet Wooden & Laminated Flooring, Gym Equipment & Home Appliances. Payment pattern is found to be satisfactory. Trade relations are reported as fair. The financial position of the Company is sound and has enough resources to meet the financial obligations.
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%)