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MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
LATIF FIBRES
(PRIVATE) LIMITED |
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Registered Office : |
Mariyam
House 37-F-A,
Block 6, P.E.C.H.S., Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
0045319 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture and marketing of Yarn |
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 : |
No Complaints |
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Litigation : |
Clear |
Business Name
LATIF FIBRES
(PRIVATE) LIMITED
Full Address
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Registered
Address |
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Mariyam
House 37-F-A,
Block 6, P.E.C.H.S., Karachi, Pakistan |
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Tel |
92 (21) 4544880 - 83 (4 Lines) |
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Fax |
92 (21) 4544470 |
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Email |
Short Description Of Business
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Nature of Business |
Manufacture
& marketing of Yarn |
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Year Established |
2003 |
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Registration # |
0045319 |
Factory Location
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Address |
Road # 9,
S.I.T.E Nooriabad, Pakistan |
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Tel # |
92 (25) 467
0012 - 13 |
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Fax # |
92 (25) 467
0218 |
Auditors
M/s Hyder Bhimji & Co.
(Chartered Accountants)
2nd Floor, Standard Insurance House, I.I. Chundrigar Road, Karachi, Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 2003
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Authorized Capital |
Rs. 300,000,000/- divided into 30,000,000
shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 300,000,000/- divided into 30,000,000 shares of Rs. 10/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Ubaid Amanullah Mr. Uzair Hameed |
Pakistani Pakistani |
Plot
# 121, 14th Street, Phase VI, Khayaban-e-Muhafiz, D.H.A., Karachi Plot
# 108, Main Khayaban-e-Shaheen, Phase VI, DHA, Karachi |
Business Business |
Chief Executive Director |
Shareholders
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Names |
No. of Shares |
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Mr. Younus Haji Latif Mr. Uzair Hameed Mrs. Mariam Bai Haji Ahmed Mr. Suhail Haji Younus Mrs. Momin Bai Haji Younus Mrs. Nida Sohail Mrs. Kulsum Bai Amanullah Mr. Ubaid Amanullah Mrs. Shermin Ubaid Mr. Owais Amanullah Mrs. Fatima Owais Mrs. Arjumand Amanullah Mr. Hameed Haji Latif Mr. Hassam Hameed Miss Badrun Bai Haji Sattar Mr. Junaid Haji Latif Mrs. Fouzia Junaid Mr. Jawwad Junaid Mrs. Rabia Junaid |
1,200,000 1,500,000 200,000 2,550,000 2,950,000 750,000 931,250 1,357,500 1,250,000 1,357,500 1,250,000 1,303,750 2,450,000 2,000,000 1,500,000 700,000 2,950,000 2,000,000 1,800,000 |
Associates
A. Subsidiary
None
B. Associated Companies
Latif Textile Mills (Pvt) Limited, Pakistan.
Latif Cotton Mills (Pvt) Limited, Pakistan.
Business Activities
Subject Company is engaged in the business as manufacture & marketing of Yarn by its brand names of Soft Cot & Twill.
Its mainly import Textile Raw Materials, Textile Machineries through L/C, T.T. basis.
It sells its product through Cash / Credit terms.
Its main customers are Garment Factories, Textile Companies, Trading Companies etc.
Subject operates from caption leased bungalow premises measuring 800 Sq.Yard. which is situated in residential + commercial area.
Subject employs more than 150 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) |
Capacity & Structure
Equipped with 26,000 modern
Japanese spindles Latif Fiber fulfills all knitting & weaving requirements
with count ranging from 10/s to 60/s carded & combed.
Bankers
(1) Bank Alhabib Limited, Main Branch, I.I.Chundrigar Road, Karachi,
Pakistan.
(2) Mybank Limited, Corporate Branch, I.I.
Chundrigar Road, Karachi, Pakistan.
(3) Habib Bank Limited, Corporate Branch, I.I. Chundrigar Road, Karachi,
Pakistan.
(4) Habib Metropolitan Bank Limited, Spencer’s Building, I.I. Chundrigar
Road, Karachi, Pakistan.
Memberships
Karachi Chamber of Commerce & Industry.(KCCI)
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 65.70 |
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UK Pound |
1 |
Rs. 129.45 |
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Euro |
1 |
Rs. 102.80 |
Comments
Subject Company was established in 2003 and
is engaged in manufacture &
marketing of Yarn. Overall
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
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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%)