MIRA
INFORM REPORT
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Report Date : |
23.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MUQEET BROTHERS |
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Registered Office : |
Shop No. 2, M.R. 5/ 76 Thanai Lane, Jodia Bazar, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
1993 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import & Trading of Tea, Copra & other Commodities |
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 : |
No Complaints |
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Litigation : |
Clear |
Business Name
MUQEET BROTHERS
Full Address
Registered Address
Shop No. 2, M.R. 5/ 76 Thanai Lane, Jodia Bazar, Karachi,
Pakistan
Tel 92 (21) 2446525, 2472086, 2420381
Fax 92 (21) 2420381
Short Description Of Business
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Nature of Business |
Import & Trading of Tea, Copra & other Commodities |
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Year Established |
1993 |
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National Tax # |
1685499 |
Branches
None
Legal Status
Subject Concern was established as a Proprietorship business in 1993
Details of Proprietor
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Abdul Muqeet Khalid |
Pakistani |
Shop
No. 2, M.R. 5/ 76 Thanai Lane, Jodia Bazar, Karachi |
Business |
Proprietor |
Business Activities
Subject Concern is engaged in the business as import & trading of Tea, Copra & other Commodities.
It purchases against L/C, T.T. basis.
It sells against Cash / Credit terms to its local customers.
It’s mainly import from China, India, Kenya, Bangladesh, Vietnam, Canada & Australia.
Its major customers are Traders, Food Companies, Trading Corporations etc.
Subject operates from caption leased shop premises of area measuring 1,500 Sq.ft. which is situated in commercial area in Jodia Bazar.
Subject employs about 6 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
30,000,000/- (Estimated) |
Trade Suppliers (Foreign)
AMBO EXPORTS LIMITED, INDIA.
M.M. ISPAHANI LIMITED, BANGLADESH.
KENYA TEA DEVELOPMENT AGENCY, KENYA.
M/S HINA AND CO, INDIA.
Bankers
MCB Bank Limited, Jodia Bazar Branch, Karachi, Pakistan.
Meezan Bank Limited, Jodia Bazar Branch, Karachi, Pakistan.
KASB Bank Limited, Jodia Bazar Branch, Karachi, Pakistan.
Memberships
Karachi Chamber of Commerce & Industry.(KCCI)
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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UK Pound |
1 |
Rs. 126.30 |
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Euro |
1 |
Rs. 90.70 |
Comments
Subject Concern was established in 1993 and is engaged in import & trading of Tea, Copra & other Commodities. Market reputation is good. Trade relations are reported as fair. Subject Concern 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. |
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%)