MIRA
INFORM REPORT
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Report Date : |
01.10.2007 |
IDENTIFICATION DETAILS
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Name : |
NEW AGE ASSOCIATES |
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Registered Office : |
5/15, 5th |
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Country : |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
0674567 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import, Indenting & Trading of Pulses,
Cheak Peas & Spices |
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
NEW AGE ASSOCIATES
Full Address
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Registered Address |
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5/15, 5th |
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Tel |
92 (21) 2401228,
2401650 |
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Fax |
92 (21) 2401228 |
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Short Description
Of Business
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Nature of Business |
Import, Indenting & Trading of Pulses,
Cheak Peas & Spices |
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Year Established |
2002 |
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Registration # |
0674567 |
Branches
None
Legal Status
Subject Company was established as a Proprietorship business in 2002
Details of
Proprietor
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Hari Chand Rajani |
Pakistani |
5/15, 5th |
Business |
Proprietor |
Business Activities
Subject Company is engaged in the business as import, indenting & trading of Pulses, Cheak Peas & Spices.
It Purchases against L/C, T.T. basis.
It sells against Cash / Credit Terms.
Its’ major customers are Retailers, Traders located in Jodia
Bazar of
Subject operates from caption leased office premises of area measuring 600 Sq.ft. which is situated in commercial plaza.
Subject employs about 3 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
20,000,000/- (Estimated) |
Trade Suppliers
(Foreign)
MAJUKO ENTERPRISES PTE LTD,
ADANI GLOBAL PTE LIMITED,
AGRICORE UNITED,
Bankers
Askari Commercial Bank Limited,
MCB Bank Limited,
Bank Alfalah Limited,
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.65 |
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UK Pound |
1 |
Rs. 123.65 |
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Euro |
1 |
Rs. 86.25 |
Comments
Subject Company was established in 2002 and is engaged in import, indenting & trading of Pulses, Cheak Peas & Spices. Trade relations are reported as fair. Subject 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. |
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%)