MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Plot # 86-A, Small Industrial
Estate, |
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Country : |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
L-00438/19871002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture &
Export of Bubbles, Candies Toffees & Chews, Chocolates, Lollypops,
Jellies & Snacks. |
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
Full Address
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Registered Address
& Factory |
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Plot # 86-A, Small Industrial Estate,
Gujranwala, Punjab, Pakistan |
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Tel |
92 (55) 3257796,
3257794 |
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Fax |
92
(55) 4283421 |
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Short Description Of
Business
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Nature of Business |
Manufacture & Export of Bubbles, Candies Toffees & Chews, Chocolates, Lollypops, Jellies & Snacks |
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Year Established |
1987 |
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Registration # |
L-00438/19871002 |
Branches
In
Auditors
M/s Iyaz Ahmad &
Co.
(Chartered Accoutants)
300-A, Main Market,
Legal Status
Subject Company was established as a Private Limited Company in 1987
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Authorised Capital |
Rs. 100,000,000/-
divided into 1,000,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 40,348,100/-
divided into 403,481 shares of Rs. 100/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Abdul Haleem Mr. Muhammad Jamal Mr. Muhammad Suleman Mrs. Zubaida Kausar Mrs. Sakina Jamshed Mr. Zubair Haleem |
Pakistani Pakistani Pakistani Pakistani Pakistani Pakistani |
House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala House 56, DOHS 1-4 Gujranwala Cantt, Gujranwala |
Business Business Business Business Business Business |
Chief Executive Director Director Director Director Director |
Shareholders
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Names |
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Mr. Abdul Haleem Mr. Muhammad Jamal Mr. Muhammad Suleman Mrs. Zubaida Kausar Mrs. Sakina Jamshed Mr. Zubair Haleem |
Associates
Subsidiary
None
Associated Companies
- Do -
Business Activities
(1) Subject Company is engaged in manufacture & export of Bubbles, Candies Toffees & Chews, Chocolates, Lollypops, Jellies & Snacks.
(2) It purchases raw material against L/C, D/P basis.
(3) Its mainly import from
(4) It sells against Cash / Credit Terms to local distributors. Whereas in case of Export, payment would be accepted through L/C, T.T. basis.
(5) Its mainly export to U.S.A. & European Countries.
(6) Its major customers are Distributors, Retailers, Buying Agencies etc.
(7) Subject operates from caption leased office premises of area measuring 1,100 Sq. ft. which is situated in commercial area.
(8) Subject employs about 80 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
80,000,000/- (Estimated) |
Trade Suppliers
(Foreign)
KEMPAS EDIBLE
EAST GRACE CORPORATION,
QINGDAO JIAOZI INTERNATIONAL TRADE CO.
GENERAL FOOD CORPORATION,
Bankers and their
addresses
Bank Al-Habib Limited,
(Mortgage obtained PKR 56,010,000/-)
Allied Bank Limited, Model Branch,
(Mortgage obtained PKR 15,000,000/-)
Memberships
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
Subject Company was established in 1987 and is engaged in manufacture & export of Bubbles, Candies Toffees & Chews, Chocolates, Lollypops, Jellies & Snacks. Directors are reported as resourceful and experienced businessmen. 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%)