MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
POPULAR BOARD (PVT) LIMITED |
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Registered Office : |
1st
Floor, |
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Country : |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
0014669 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import &
Trading of Formica Sheets, Wood Products, Absorbent
Kraft Paper / Fluting Paper. |
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
POPULAR BOARD (PVT) LIMITED
Full Address
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Registered Address |
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1st
Floor, |
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Tel |
92
(21) 2730814, 2730870, 2734049 |
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Fax |
92
(21) 2734049 |
Short Description Of
Business
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Nature of Business |
Import & Trading of Formica Sheets, Wood Products, Absorbent Kraft Paper/Fluting Paper |
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Year Established |
1986 |
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Registration # |
0014669 |
Branches
In
Auditors
Imran Iqbal & Co.
(Chartered
Accountants)
Legal Status
Subject Company was established as a Private Limited Company in 1986
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Authorised Capital |
Rs. 5,000,000/- divided
into 50,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 4,000,000/- divided into 40,000
shares of Rs. 100/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Ahsan Ellahi Mr. M. Iqbal Osman Mr. Abdul Aziz Mr. Adnan Iqbal Mr. Adeel Iqbal |
Pakistani Pakistani Pakistani Pakistani Pakistani |
C-28, Cutchi Memon Co-op Housing Society, Karachi C-28, Cutchi Memon Co-op Housing Society, Karachi C-28, Cutchi Memon Co-op Housing Society, Karachi C-28, Cutchi Memon Co-op Housing Society, Karachi C-28, Cutchi Memon Co-op Housing Society, Karachi |
Business Business Business Business Business |
Chief Executive Director Director Director Director |
Shareholders
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Names |
No. of Shares |
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Mr. M. Iqbal Osman Mr. Ashraf Usman Mr. Ahsan Ellahi Mr. Abdul Aziz Mr. Adnan Iqbal Mr. Adeel Iqbal Mrs. Shenila Ahsan Mr. Farahnaz A. Aziz Mrs Afsheen Adnan Mrs. Shamsunnisa Mrs. Sumaira Khurram Mrs. Saira Asif Miss Anum A. Ghafoor |
6,500 1,000 6,100 6,100 6,100 6,300 400 400 400 6,200 200 200 100 |
Associates
A. Subsidiary
None
B. Associated Companies
(1) Ahmed & Sons,
Business Activities
Subject Company is engaged in the business as import & trading of Formica Sheets, Wood Products, Absorbent Kraft Paper / Fluting Paper.
It purchases against L/C, T.T. basis.
It sells against Cash / Credit terms.
It’s mainly import from
Its major customers are Traders, Retailers, Construction Companies etc.
Subject operates from caption leased office premises of area measuring 2,000 Sq.ft. which is situated in commercial area.
Subject employs about 15 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
40,000,000/- (Estimated) |
Trade Suppliers
(Foreign)
Various international
belongs to
Bankers
Askari Commercial Bank Limited, Timber Market Branch,
(Mortgage obtained PKR 26,000,000/-)
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.72 |
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UK Pound |
1 |
Rs. 121.60 |
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Euro |
1 |
Rs. 84.00 |
Comments
Subject Company was established in 1986 and is engaged in import & trading of Formica Sheets, Wood Products, Absorbent Kraft Paper/Fluting Paper. Directors are reported as resourceful and experienced businessmen. 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%)