MIRA INFORM REPORT

Report Date :

10.04.2008

IDENTIFICATION DETAILS

Name :	R R CORPORATION

Registered Office :	Shop No. N.P.11, 49/50, Khillan Street, Jodia Bazar, Karachi

Country :	Pakistan

Date of Incorporation :	1994

Legal Form :	Partnership business

Line of Business :	Import and Trading of Pulses, Spices and Food Commodities

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 :	No Complaints

Litigation :	Clear

Business Name

R R CORPORATION

Full Address

Registered Address

Shop No. N.P.11, 49/50, Khillan Street, Jodia Bazar, Karachi, Pakistan

Tel	92 (21) 2432126
Fax	92 (21) 2437942
Email	rrcorp@cyber.net.pk

Short Description Of Business

Nature of Business	Import & Trading of Pulses, Spices and Food Commodities
Year Established	1994

Branches

604, Chapal Plaza, Hasrat Mohani Road,

Karachi, Pakistan

Legal Status

Subject Company was established as a Partnership business in 1994

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Harish Dhirani

Mr. Vedvyas Dhirani

Pakistani

Shop No. N.P.11, 49/50, Khillan Street, Jodia Bazar, Karachi

Business

Managing Partner

Partner

Business Activities

Subject Company is engaged in the business as import & trading of Pulses, Spices and Food Commodities.

It purchases against L/C, D/A basis.

It sells against Credit / Cash basis.

It’s mainly import from China, India, Australia, Canada and Vietnam.

Its major customers are Traders, Retailers, Food Companies etc.

Subject operates from caption leased shop premises of area measuring 1,000 Sq.ft. which is situated in commercial market.

Subject employs about 8 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006	50,000,000/- (Estimated)

Trade Suppliers (Foreign)

Various International belongs to India, Canada & Australia

Bankers

Bank Alfalah Limited, Pakistan.

Meezan Bank Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

· Karachi Wholesale Grocers Association.(KWGA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 63.60
UK Pound	1	Rs. 125.45
Euro	1	Rs. 100.10

Comments

Subject Company was established in 1994 and is engaged in import & trading of Pulses, Spices and Food Commodities. Market reputation is good. Trade relations are reported as fair. Subject 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions