MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEGA & FORBES GROUP OF COMPANIES |
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Registered Office : |
Gf-9, K.D.L.B. Building, West Wharf Road, P.0. Box-6187,
Karachi-74000 |
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Country : |
Pakistan |
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Date of Incorporation : |
1972 |
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Legal Form : |
Group of Companies |
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Line of Business : |
Engaged in diversified business activities in the field of
Shipping, Trading. Manufacturing & Information Technology |
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
MEGA & FORBES GROUP OF COMPANIES
Full Address
Registered Address
Gf-9, K.D.L.B. Building, West Wharf Road, P.0. Box-6187, Karachi-74000, Pakistan
Tel 92 (21) 2316889, 2316890, 2316891
Fax 92 (21) 2315729,220094
Note
The Group registered address was changed from “PNSC Building M.T. Khan Road, Karachi” to “Gf-9, K.D.L.B. Building, West Wharf Road, P.0.
Box-6187, Karachi”
Short Description Of Business
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Nature of Business |
Engaged in diversified business activities in the field of Shipping, Trading. Manufacturing & Information Technology |
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Year Established |
1972 |
Group Branches
Mainly in all major cities of Pakistan
Group Agency Network
In Dubai (Port Rashid), Jebel Ali, Abu Dhabi, Sharjah,
Khorfakkan, Fujairah, Ajman, Um Al Qawain & Dammam
Group Auditors
M/s Mohammad Bilal & Co.
(Chartered Accountants)
Trade Avenue, Hasrat Mohani Road, I.I. Chundrigar Road,
Karachi, Pakistan
Legal Status
Subject Group was established in 1972 and 15 Companies headed by this Group
Details of Group Management
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Habibullah Khan Caption Irfan Shah Mrs. Nusrat Khan Mr. Kamran Saeed |
Pakistani Pakistani Pakistani Pakistani |
H. No. 16, Street 17, Khayaban-e- Tauheed, D.H.A., Karachi Gf-9, K.D.L.B.
Building, West Wharf Road, P.0. Box-6187, Karachi H. No. 16, Street 17, Khayaban-e- Tauheed, D.H.A.,
Karachi Gf-9, K.D.L.B. Building, West Wharf Road, P.0. Box-6187, Karachi |
Business Business Business Business |
Group Chairman Group Director Group Director Group General Manager |
Group Associated Companies
Inshipping (Pvt) Limited,
Pakistan
Inservey Pakistan (Pvt) Limited, Pakistan.
Megaimpex Pakistan (Pvt) Limited, Pakistan.
Megatech (Pvt) Limited, Pakistan.
Megatrans Pakistan (Pvt) Limited, Pakistan.
MSC Pakistan (Pvt) Limited, Pakistan.
Forbes Campbell & Co (Pvt) Limited, Pakistan.
Megatravel Pakistan (Pvt) Limited, Pakistan.
Seacon (Pvt) Limited, Pakistan.
Sealog (Pvt) Limited,
Pakistan.
Seaexpress (Pvt) Limited,
Pakistan.
Forbes Logistics (Pvt)
Limited, Pakistan.
Megarail (Pvt) Limited,
Pakistan.
Forbes Shipping Company
(Pvt) Limited, Pakistan.
Megafeeders (Private)
Limited, Pakistan.
Business Activities
Engaged in diversified business activities in the field of Shipping, Trading. Manufacturing & Information Technology
Number of Employees
800 - 1000
Group Sales Revenue
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Year |
In Pak Rupees |
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2006 |
More than 800,000,000/- |
Group’s Clientele
Mainly Pharmaceutical Companies, Trading Companies, Manufacturing Concerns etc
Group Bankers
(1) United Bank Limited,
Pakistan.
(2) Bank Alhabib Limited, Pakistan.
(3) Habib Metropolitan Bank Limited, Pakistan.
(4) NIB Bank Limited, Pakistan.
(5) Faysal Bank Limited, Pakistan.
(6) Standard Chartered Bank, Pakistan.
(7) Saudi Pak
Commercial Bank Limited, Pakistan.
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 61.23 |
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UK Pound |
1 |
Rs. 124.80 |
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Euro |
1 |
Rs. 89.25 |
Comments
Mega & Forbes Group
enjoys good reputation internationally as well as in Pakistan. All the Group
Directors are reported as qualified, resourceful & experienced businessmen.
Group’s financial position is sound. Group can be considered for moderate
business engagements at usual trade terms and condition.
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. |
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%)