MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AKBARI STORES (PRIVATE) LIMITED |
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Registered Office : |
Akbari Gate, |
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Country : |
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Date of Incorporation : |
1948 |
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Com. Reg. No.: |
00002559 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import & Sale of Chemicals & Dyes. |
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
AKBARI STORES (PRIVATE) LIMITED
Full Address
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Registered
Address |
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Akbari Gate, |
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Tel # |
92 (42) 7639515, 7639511, 7640723, 7659171 |
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Fax # |
92 (42) 7654253 |
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Email |
abari@paknet4.ptc.pk |
Short Description Of
Business
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Nature of
Business |
Import & Sale of Chemicals & Dyes. |
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Year Established |
Business Started in 1948 (Private Limited Company incorporated in
1990). |
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Registration # |
00002559 |
Branches
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Address |
1467-1472, |
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Tel # |
92 (51) 5568169, 5568245 |
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Fax # |
92 (51) 5567973 |
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Email |
asl@wol.net.pk |
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Address |
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Tel # |
92 (21) 2419521, 2440291 |
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Fax # |
92 (21) 2440586 |
Ware Houses
4 in
Legal Status
Private Limited Company with no Joint Venture/no Licensing from anywhere.
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Authorised Capital |
Rs. 5,000,000 divided into 50,000 shares of Rs. 100/- each. |
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Issued & Paid up Capital |
Rs. 1,380,000 divided into 13,800 shares of Rs. 100/- each. |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Sadiq Ali Mr. Naseer Akber Mr. F. E. Akber Mr. Zafar ul Aleem Mr. Wasi Ahmad |
Pakistani Pakistani Pakistani Pakistani Pakistani |
Akbari Gate, Akbari Gate, Akbari Gate, Akbari Gate, Akbari Gate, |
Business Business Business Business Business |
Chairman Director Chief Executive Director Director |
Details of
Shareholders
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Names |
No. of Shares |
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Mr. Sadiq Ali Mr. Naseer Akber Mr. F. E. Akber Mr. Zafar ul Aleem Mr. Wasi Ahmad Mrs. Moonim Akbar |
4,350 4,350 250 1,500 1850 1,500 |
Associated
Companies
(1) Alpha Traders,
(2)
(3) Akbari Chemical Industries,
(4) Akbari Paper Stores,
Product/Services
All sorts of Industrial Chemicals & Dyes for Leather Tanneries, Textile Industry, Sugar Industry, Pharmaceutical Industry, Food, Oil/Lubricant, Paint Industry, Sewerage Industry, etc.
Number of Employees
33
Annual Sales Volume
(In Pak Rupees)
More than 280,000,000/-
Trade Suppliers
(Foreign)
(1) China National Corporation,
(2) Hung Sun Trading Company, Hong Kong.
(3) Henan Billions Chemicals Co. Ltd,
(4) Sinochem Hebei Import & Export Corporation,
(5) Red Carnation Gums Ltd,
Note :
Subject Company also import from
Imported Products
Sulphuric Acid, Hydrogen Per oxide, Acetic Acid, Oxalic Acid, P.V.A., etc.
Bankers & their
addresses
Muslim Commercial Bank Limited,
MCB Bank Limited, Jodia Bazar Branch,
Financial Position
Sound
Market Reputation of Directors
Very Good
Payment
Reputation
Good, mostly they purchase on cash terms
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 61.15 |
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1 |
Rs. 121.80 |
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Euro |
1 |
Rs. 82.00 |
Comments
No professional set-up witnessed. All the work is being done by
them. Party is sound and well established. They are the largest stockists of
various chemical items in the local market. Trade relations are reported as fair.
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%)