MIRA INFORM REPORT

Report Date :

25.04.2008

IDENTIFICATION DETAILS

Name :	H.Y. CORPORATION

Registered Office :	Room No. 16, 1^st Floor Hilal Chambers, Kandi Gali, Jodia Bazar, Karachi

Country :	Pakistan

Date of Incorporation :	1990

Legal Form :	Partnership

Line of Business :	Importer and Trader of Milk Powder and Other 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

H.Y. CORPORATION

Full Address

Registered Address

Room No. 16, 1^st Floor Hilal Chambers, Kandi Gali, Jodia Bazar, Karachi, Pakistan

Tel	92 (21) 2442674, 2410495
Fax	92 (21) 2446122

Short Description Of Business

Nature of Business	Engaged in Import & Trading of Milk Powder & other Commodities
Year Established	1990

Branches

In Karachi & Hyderabad

Legal Status

Subject Company was established as a Partnership business in 1990

Details of Managing Partner / Partners

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Haroon

Mr. Muhammad Anwar

Mr. Muhammad Yaqoob

Mr. Muhammad Majeed

Pakistani

Room No. 16, 1^st Floor Hilal Chambers, Kandi Gali, Jodia Bazar, Karachi

Business

Managing Partner

Partner

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

(1) Subject Company was engaged in the business as import & trading of Milk Powder & other Commodities.

(2) Its Purchases against L/C, D/A basis.

(3) Its major customers are Traders, Retailers, Private Companies etc.

(4) Its mainly import from India, China, Holland, Denmark Australia, Canada.

(5) Subject operates from caption leased office premises of area measuring 800 Sq ft which is situated in commercial area.

(6) Subject employs about 7 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006	30,000,000/- (Estimated)

Bankers and their addresses

Bank Alfalah Limited, Jodia Bazar Branch, Karachi, Pakistan.

Membership

Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 65.70
UK Pound	1	Rs. 129.45
Euro	1	Rs. 102.80

Comments

Subject Company was established in 1990 and is engaged in import & trading of Milk Powder & other Commodities. Market reputation is satisfactory. Trade relations are reported as fair. 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%)

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