MIRA
INFORM REPORT
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Report Date : |
22.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AHMED JAFFER & COMPANY (PRIVATE) LIMITED |
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Registered Office : |
113-A, Sindhi Muslim Cooperative Housing Society, |
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Country : |
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Date of Incorporation : |
1949 |
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Com. Reg. No.: |
570/19490807
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in indenting, import & trading in diversified activities
including Commodities, Defense, Airports & Aviation, Machinery, equipment
& Instrumentation, Oil & Gas, Ports & Shipping, Power
Generation Distribution, Railways & Transport. |
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
AHMED JAFFER & COMPANY (PRIVATE) LIMITED
Full Address
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Registered Address |
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113-A, Sindhi Muslim Cooperative Housing Society, Karachi, Pakistan |
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Tel |
92 (21) 4556084, 85, 86 |
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Fax |
92 (21) 4555154 |
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Email |
Short Description Of
Business
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Nature of Business |
Indenting, Import & Trading Business |
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Year Established |
1949 |
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Registration # |
570/19490807 |
Branches
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Address |
House # 7, Street No 48, F-7/4,
Islamabad, Pakistan |
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Tel # |
92 (51) 2879617, 20 |
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Fax # |
92
(51) 2879621 |
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Address |
House # 554-Z, Defense Housing
Society, Lahore, Pakistan |
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Tel # |
92 (42) 5720554 |
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Fax # |
92
(42) 5720554 |
Auditors
Ahsan Vohra & Co.
(Chartered Accountants)
313,
Legal Status
Subject Company was established as a Private Limited Company in 1949
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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. 3,000,000/-
divided into 30,000 shares of Rs. 100/- each |
Details of Chief
Executive / Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Adil K. Jaffer Mr. Zakir K. Jaffer Mr. Omer Adil Jaffer |
Pakistani Pakistani Pakistani |
House # D-131, Block 5, Clifton, Karachi, Pakistan House # 21, Gali # 27, Sector F-6/12,
Islamabad, Pakistan House # D-131, Block 5, Clifton, Karachi, Pakistan |
Business Business Business |
Chief Executive Director Director |
Shareholders
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Names of Shareholders |
No of Shares |
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Mr. Adil K. Jaffer Mr. Zakir K. Jaffer Mr. Omer Adil Jaffer |
7,500 15,000 7,500 |
Associates
Subsidiary
None
Associated Companies
(1) A.J. Sons (Pvt)
Limited,
(2) Bakers Pride (Pvt) Limited,
(3) Commodities & Equipments International (Pvt)
Limited,
(4) Jaffer Travels (Pvt) Limited,
(5) Air Craft Aviation (Pvt) Limited,
(6) Granulars (Pvt) Limited,
Business Activities
Subject Company is engaged in indenting, import & trading
in diversified activities including Commodities, Defense, Airports &
Aviation, Machinery, equipment & Instrumentation, Oil & Gas, Ports
& Shipping, Power Generation Distribution, Railways & Transport.
Also engaged in providing specialized services to leading international
companies in the implementation of important and specialized projects in
Its main importing countries are European Countries.
Payments would be made through L/C, T.T. basis.
Its major customers are Government Organizations, Engineering Companies, Oil & Gas Companies.
Subject operates from caption leased bungalow premises acquired a covered area of 800 Sq Yards which is situated in residential + commercial area.
Subject employs about 200 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
500,000,000 (Estimated) |
Principals (Foreign)
(1) AGUSTA WESTLAND.
(2) AIR LIQUIDE.
(3) ART-LINE.
(4) AXOR GROUP INC.
(5)
BRAZIL ENERGY POWER CORPORATION S.A.
(6) CLEXTRAL.
(7) CORUS CONSULTING.
(8) CORUS RAIL.
(9) CURRAGH WESFARMERS GROUP.
(10) LANDQART.
(11) MED ENG SYSTEMS.
(12) NAUTEL.
(13) RAG TRADING.
(14) SESA GOA LIMITED.
(15) SEVASTOPOL MARINE PLANT.
(16)
SIRTEC.
(17) TENARIS.
Clientele (
(1) Alternate Energy Development Board.
(2) Civil Aviation Authority.
(3) Economic Affairs Division.
(4) Export Promotion Bureau.
(5) Heavy Industries, Taxila.
(6) Heavy Mechanical Complex.
(7) Karachi Electric Supply Corporation.
(8) Karachi Port Trust.
(9) Ministry of Defense.
(10) Ministry of Food & Agriculture.
(11) Ministry of Petroleum & Natural resources.
(12) Pakistan Aeronautical Complex Board.
(13) Pakistan International Airlines.
(14) Pakistan Ordinance Factories.
(15) Pakistan Security Printing Corporation.
(16) Pakistan Steel Mills Corporation Limited.
(17) Security Papers Limited.
(18) Sui Northern Gas Pipelines Limited.
(19) Sui Southern Gas Company Limited.
(20) Trading Corporation of Pakistan.
(21) Water and Power Development Authority.
Bankers
(1) Mashreq Bank, Bahria
Complex Branch,
(2) MCB Bank Limited,
Nursery Branch,
(3) Faysal Bank Limited, Main Branch,
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.82 |
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UK Pound |
1 |
Rs. 119.50 |
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Euro |
1 |
Rs. 81.65 |
Comments
Subject Group enjoys good reputation in the Pakistan Business
Circle as well as in abroad. All the directors are reported as qualified,
resourceful & 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%)