MIRA
INFORM REPORT
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Report Date : |
13.09.2007 |
IDENTIFICATION DETAILS
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Name : |
WAHEED BROTHERS |
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Registered Office : |
96 - B - |
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Country : |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
0010507 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import & Trading of Tyres for Cars &
Trucks |
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
WAHEED BROTHERS
Full Address
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Registered Address |
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96 - B - |
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Tel |
92
(42) 5752471 (4 lines) |
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Fax |
92
(42) 5711633, 5763255 |
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Short Description Of
Business
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Nature of Business |
Import & Trading of Tyres for Cars &
Trucks |
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Year Established |
1983 |
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Registration # |
0010507 |
Branches
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Address |
Office # 9, 1st Floor, HakimSons Building, |
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Tel # |
92 (21) 2202657, 2202659 |
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Fax # |
92 (21) 2202681 |
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Address |
Shop #12-13, Liaqat Plaza, |
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Tel # |
92 (41) 2624957, 2620313 |
Auditors
Munif Ziauddin & Co.
(Chartered Accoutants)
M-40,
Legal Status
Subject Company was established as a Private Limited Company in 1983
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Authorised Capital |
Rs. 85,000,000/-
divided into 8,500,000 shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 70,000,000/-
divided into 7,000,000 shares of Rs. 10/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Bahjat Majid Mrs. Farzana Waheed Mrs. Zahida Majid Mr. Solat Waheed |
Pakistani Pakistani Pakistani Pakistani |
20-C-1 Gulberg-III, 20-C-1 Gulberg-III, 20-C-1 Gulberg-III, 20-C-1 Gulberg-III, |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
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Names |
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Mr. Bahjat Majid Mrs. Farzana Waheed Mrs. Zahida Majid Mr. Solat Waheed |
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Business Activities
(1) Subject Company is engaged in import & trading of Tyres for Cars & Trucks.
(2) It purchases against L/C basis.
(3) Its mainly import from
(4) Its major customers are Traders, Retailers located in all
major cities of
(5) Subject operates from caption leased office premises of area measuring 1,600 Sq.ft. which is situated in commercial area.
(6) Subject employs about 22 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
100,000,000/- (Estimated) |
Agencies (Foreign)
(1) GOODYEAR TYRES,
(2) GOODYEAR INDIA LIMITED,
(3) COOPER TIRE & RUBBER COMPANY,
Bankers
United Bank Limited,
Bank Alfalah Limited,
Standard Chartered
Habib Metropolitan Bank Limited,
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.80 |
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UK Pound |
1 |
Rs. 122.90 |
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Euro |
1 |
Rs. 83.95 |
Comments
Subject Company was established in 1983 and is engaged in import & trading of Tyres for Cars & Trucks. All the directors are reported as resourceful and experienced businessmen. Market reputation is good. Trade relations are reported as fair. The 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%)