MIRA INFORM REPORT

Report Date :

25.10.2007

IDENTIFICATION DETAILS

Name :	UFFAQ TECHNOLOGIES (PRIVATE) LIMITED

Registered Office :	302,Clifton Centre, Block-5, Clifton, Karachi,

Country :	Pakistan

Date of Incorporation :	2002

Com. Reg. No.:	0044678

Legal Form :	Private Limited Company

Line of Business :	Engaged in providing Information Technology, Networking, Call Centre & Software Services

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

COMPANY NAME

UFFAQ TECHNOLOGIES (PRIVATE) LIMITED

Address

Registered Address

302,Clifton Centre, Block-5, Clifton, Karachi, Pakistan

Tel 92 (21) 5863561, 5863562

Fax 92 (21) 5863564

Note:

The registered address was changed from 75-C, National Highway, D.H.A., Phase II (Extn), Karachi to 302, Clifton Centre, Block-5, Clifton, Karachi, Pakistan

Short Description Of Business

Nature of Business	Engaged in providing Information Technology, Networking, Call Centre & Software Services
Year Established	2002
Registration #	0044678

Branches

Address	F-604, S.I.T.E., Karachi, Pakistan
Tel #	92 (21) 2573459
Fax #	92 (21) 2573459

Address	90, 16^th Street, Sector G-6/3, Islamabad, Pakistan
Tel #	92 (51) 2277523
Fax #	92 (51) 2823392

Auditors

M/s Mehmood Zuberi & Co.

(Chartered Accountants)

142, Al Amna Plaza, M. A. Jinnah Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2002

CAPITAL

Authorized Capital Rs. 1,000,000/- divided into 10,000 shares of Rs. 100/- each

Issued & Paid up Capital Rs. 130,000/- divided into 1,300 shares of Rs. 100/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Occupation

Designation

Mr. Sohail Munir

Mr. Amjad Ghaffar

Mr. Salman Munir

Pakistani

C-7, Block B, K.D.A. Officers Cooperative Society, Karachi

90, 16^th Street, Sector G-6/3, Islamabad

C-7, Block B, K.D.A. Officers Cooperative Society, Karachi

Business

Chief Executive

Director

Shareholders

Name

No. Of Shares

Mr. Sohail Munir

Mr. Amjad Ghaffar

Mr. Salman Munir

500

300

Associates

Subsidiary

None

Associated Companies

Softtex Textile (Private) Limited, Pakistan.

Business Activities

Subject Company is engaged in providing Information Technology, Networking, Call Centre & Software Services.

It purchases Networking Equipment through L/C basis.

It’s mainly import from European & Asian Countries.

Its major customers are Corporate Banks, IT Companies, Private Companies etc.

Subject operates from caption leased office premises of area measuring 1,200 Sq.ft which is situated in commercial plaza.

Subject employs about 15 persons in its set up.

Business Partners (Foreign)

(1) MITEL, U.S.A.

(2) MICROSOFT CORPORATION, U.S.A.

(3) FOUNDRY NETWORKS, U.S.A.

(4) FILENET, U.S.A.

(5) BORDERWARE, U.S.A.

Annual Sales Volume

Year In Pak Rupees

2006 - 2007 15,000,000/- (Estimated)

Bankers

Standard Chartered Bank, Pakistan.

Faysal Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

Standard Chartered Bank, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 60.60
UK Pound	1	Rs. 123.75
Euro	1	Rs. 86.00

Memberships

Karachi Chamber of Commerce & Industry.(KCCI)

Comments

Subject Company was established in 2002 and is engaged in providing Information Technology, Networking, Call Centre & Software Services. Overall reputation is normal. The Company can be considered for normal business dealings at usual trade terms and conditions.

RATING EXPLANATIONS

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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

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