MIRA
INFORM REPORT
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Report Date : |
23.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
R & N ENTERPRISES |
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Registered Office : |
7 District Jail Rail, Near 7-up
Factory, Multan |
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Country : |
Pakistan |
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Date of Incorporation : |
1999 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import & Trading of Yarn, Fiber, Cloth
& Textile Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
Business Name
R & N ENTERPRISES
Full Address
Registered Address
7 District Jail Rail, Near 7-up
Factory, Multan, Pakistan
Tel 92 (61) 4577403, 4572862
Fax 92 (61) 4780888
Short Description Of Business
|
Nature of Business |
Import & Trading of Yarn, Fiber, Cloth
& Textile Products |
|
Year Established |
1999 |
Branches
None
Legal Status
Subject Concern was established as a Proprietorship business in 1999
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Tasneem Sultan |
Pakistani |
7 District Jail Rail, Near 7-up Factory, Multan |
Business |
Proprietor |
Associated Companies
(1) Fabotex, Pakistan.
Business Activities
Subject Concern is engaged in the business as import & trading of Yarn, Fiber, Cloth & Textile Products including Cotton Yarn, Viscose Rayon Filament Yarn, Viscose Spun Yarn, Polyester Spun Yarn, Polyester Viscose & Polyester Cotton Blended Yarn, Linen and its blends, Silk Yarn, Polyester Textured Yarn, Polyester POY, Polyester Fully Drawn Yarn, Nylon Filament Yarn, Worsted Wool Yarn, Acetate Filament Yarn, Polypropylene Filament Yarn, Spandex Yarn, Polyester Staple Fibre, Polyester Fibre Fill, Acrylic Staple Fibre and Viscose Staple Fibre.
It purchases against L/C, T.T., D/A basis.
It sells against Credit terms to its local customers.
It’s mainly import from China, Taiwan, Thailand & Korea.
Its major customers are Textile Companies, Garment Factories, Traders etc
Subject operates from caption leased shop premises of area measuring 1,600 Sq.ft. which is situated in commercial area.
Subject employs about 10 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
25,000,000/- (Estimated) |
Trade Suppliers (Foreign)
Not disclosed by the Proprietor of the Company
Bankers
Allied Bank Limited, Pakistan.
The Bank of Punjab, Pakistan.
Standard Chartered Bank, Pakistan.
Memberships
Multan Chamber of Commerce & Industry.(MCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 61.15 |
|
UK Pound |
1 |
Rs. 126.30 |
|
Euro |
1 |
Rs. 90.70 |
Comments
Subject Concern was established in 1996 and is engaged in import & trading of Yarn, Fiber, Cloth & Textile Products. Payments are reported as slow but correct. 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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
<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%)