MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
M.M. COMMODITIES |
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Registered Office : |
M.M.Tower, 3-C
Khayaban-e-Ittehad, Phase 2, Ext. D.H.A., |
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Country : |
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Date of Incorporation : |
1995 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Processing & Export of Rice, Pulses, Spices & other Food
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
M.M. COMMODITIES
Full Address
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Registered Address |
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M.M.Tower, 3-C
Khayaban-e-Ittehad, Phase 2, Ext. D.H.A., Karachi, Pakistan |
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Tel |
92 (21) 5891762,
5891765, 5891770,
5899381 |
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Fax |
92 (21) 5895329 |
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Short Description Of
Business
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Nature of Business |
Processing & Export of Rice, Pulses, Spices & other Food
Products |
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Year Established |
1995 |
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National Tax # |
1350565 |
Mill Location
About 2 K.M., Bin Qasim
Legal Status
Subject concern was established as a Proprietorship business in 1995
Details of Key
Management
Names
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Nationality |
Address
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Designation |
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Mrs. Madiha Moulvi Mr. Mehmood Ali |
Pakistani Pakistani |
M.M.Tower, 3-C Khayaban-e-Ittehad, Phase 2,
Ext. D.H.A., Karachi M.M.Tower, 3-C Khayaban-e-Ittehad, Phase 2, Ext. D.H.A., Karachi |
Proprietor General Manager |
Associated Companies
(1) M.M. Marine Services (Pvt) Limited,
(2) Marine
(3) Asia Trade & Transport (Pvt) Limited, Pakistan.
(4) Prime
Business Activities
Subject concern is engaged in Processing & Export of Rice, Pulses, Spices & other Food Products.
In case of export, payment would be accepted through L/C, T.T. basis.
Local sales are mostly on cash / credit terms basis.
Its mainly export to Middle East & European Countries.
Its’ major customers are Traders, Retailers, Buying Agents.
Subject operates from caption leased office premises of area measuring 1,650 Sq.ft. which is situated in commercial plaza.
Subject employs about 140 - 155 persons in its set up.
Annual Production
Volume
Basis - Processing of Rice 30,000 Tons Per Annum
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
300,000,000/-
(Estimated) |
Customers (Foreign)
(1) LOUIS DREYFUS OF
(2) ADM-RICE, INC of
(3) ASCOT COMMODITIES OF GENEVA.
(4) PHOENIX COMMODITIES OF THAILAND.
(5) OVLAS TRADING SA OF LEBANON.
(6) OLAM INTERNATIONAL OF SINGAPORE.
(7) HOLBUD LIMITED OF UK.
(8) VOEST ALPINE OF
Bankers
Faysal Bank Limited,
Standard Chartered
Habib Metropolitan Bank Limited,
ABN AMRO Bank,
Financial Position
Sound
Memberships
Rice Exporters
Association of
Federation
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.63 |
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UK Pound |
1 |
Rs. 120.75 |
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Euro |
1 |
Rs. 81.90 |
Comments
Subject concern was established in 1995 and is engaged in processing & export of Rice, Pulses, Spices & other Food Products. Payment pattern is found to be satisfactory. Trade relations are reported as fair. The financial position of the firm 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%)