%20LIMITED%2014-Apr-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
14.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
U.S. APPAREL
& TEXTILES (PVT) LIMITED |
|
|
|
|
Registered Office : |
26-M, Gulberg-III, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
1987 |
|
|
|
|
Com. Reg. No.: |
L-00030/19870202 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture and Export of Ready-Made
Garments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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
U.S. APPAREL &
TEXTILES (PVT) LIMITED
Full Address
Registered Address
|
|
26-M,
Gulberg-III, Lahore, Pakistan. |
|
Tel |
92 (42) 5861869, 5861867 |
|
Fax |
92 (42) 5835358 |
|
Email |
Short Description Of Business
|
Nature of Business |
Manufacture
& Export of Ready-Made Garments. |
|
Year Established |
1987 |
|
Registration # |
L-00030/19870202 |
Factory Location
|
Address |
Raiwind Defence Road, Khizarabad Stop,
Lahore, Pakistan |
|
Tel # |
92 (42) 5340034 - 48 (6 Lines) |
|
Fax # |
92 (42) 5340049,
5340050 |
Overseas Offices
|
Address |
Unit # 5, Point 65, Business Center, Green Bank
Road, Blackburn, U.K. |
|
Tel # |
+441254674885 |
|
Fax # |
+441254674888 |
|
Address |
Langeooger Platz, 1,28219, Bremen, Germany |
|
Tel # |
+494215437030 |
|
Fax # |
+494216437031 |
Auditors
M/s Munif Ziauddin and Co.
(Chartered
Accountants)
42-43, 3rd Floor, Sadiq Plaza, The
Mall, Lahore, Pakistan.
Legal Status
Subject Company was established as a Private Limited Company in 1987
|
Authorized Capital |
Rs. 10,000,000/- divided into 100,000 shares
of Rs. 100/- each |
|
Issued & Paid up Capital |
Rs. 9,871,200/- divided into 98,712 shares
of Rs. 100/- each |
Details of Directors
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mian Mohammad Ahsan Javed Arshad Bhatti Mrs. Shabnam Ahsan Mrs. Shama Javed |
Pakistani Pakistani Pakistani Pakistani |
AJ House, Block
A, Izmir Housing Society, Lahore 91-D, Model
Town, Lahore AJ House, Block
A, Izmir Housing Society, Lahore 91-D, Model
Town, Lahore |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
|
Names |
Address |
No. of Shares |
|
Mian Mohammad Ahsan Javed Arshad Bhatti Mrs. Shabnam Ahsan Mrs. Shama Javed |
AJ House, Block A,
Izmir Housing Society, Lahore 91-D, Model
Town, Lahore AJ House, Block
A, Izmir Housing Society, Lahore 91-D, Model
Town, Lahore |
41,820 41,592 7,650 7,650 |
Associates
A. Subsidiary
None
B. Associated Companies
Anam Weaving Mills
(Pvt) Limited, Pakistan.
Styler International
(Pvt) Limited, Pakistan.
Nexus Fashion (Pvt)
Limited, Pakistan.
US Apparel (UK)
Limited, United Kingdom.
AJ Investments Ltd,
Pakistan.
US Home Textiles
(Pvt) Limited, Pakistan.
Products
Manufacture & Export of Ready-Made
Garments, which includes Ladies/ Men’s, Top & Bottom in Knit &
Woven. .
Number of Employees
175
Annual Production Volume
150,000 - 200,000 Dozens Per Annum
(Estimated).
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
450,000,000/- (Estimated) |
Suppliers (Foreign)
Various International
Customers
Various
international customers, worldwide.
Bankers and their addresses
(1) Deutsche Bank AG, Escort House Branch, Lahore, Pakistan.
Foreign Exchange Rates
|
Currency |
Unit
|
Pakistani Rupee |
|
US Dollar |
1 |
Rs.
60.50 |
|
UK Pound |
1 |
Rs. 110.90 |
|
Euro |
1 |
Rs.
76.90 |
Comments
Subject Company
was established in 1987 and is engaged in manufacture & export of
Ready-Made Garments to different countries especially in U.S.A. and European
Countries. Chief Executive as well as directors are reported as qualified,
resourceful and experienced businessmen. Trade relations are reported as fair.
Subject 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%)