MIRA INFORM REPORT

Report Date :

25.04.2008

IDENTIFICATION DETAILS

Name :	HAMZA VEGETABLE OIL REFINERY & GHEE MILLS (PVT) LTD

Registered Office :	1-B Garden Block, New Garden Town Lahore

Country :	Pakistan

Date of Incorporation :	1991

Com. Reg. No.:	00003142

Legal Form :	Private Limited Company

Line of Business :	Manufacture of Edible/Cooking Oils, Soap Oil and Vanaspati Ghee

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

HAMZA VEGETABLE OIL REFINERY & GHEE MILLS (PVT) LTD

Full Address

Registered Address	Factory Address
1-B Garden Block, New Garden Town Lahore, Pakistan	13 K.M., Lahore-Sheikhupura Road, Tehsil Ferozewala, Pakistan

Tel	92 (42) 111-100-786		Tel	92 (42) 7921922, 7920677
Fax	92 (42) 5850162		Fax	92 (42) 7920755

Short Description

Nature of Business	Manufacture of Edible/Cooking Oils, Soap Oil & Vanaspati Ghee
Year Established	1991
Registration #	00003142

Branches

In Karachi & Islamabad

Auditors

Rahman Sarfaraz & Co.

(Chartered Accountants)

54-P, Gulberg II, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1991

Authorized Capital

Rs. 100,000,000/- divided into 10,000,000 shares of Rs. 10/- each.

Issued & Paid up Capital

Rs. 96,320,060/- divided into 9,632,006 shares of Rs. 10/- each.

Details of Directors

Names

Nationality

Residential Address

Occupation

Designation

Mr. Tariqullah Sufi

Mr. Hadayatullah Sufi

Mr. Khalid Hadayatullah Sufi

Mrs. Sadia Tariq

Mrs. Tahira Khalid

Mr. Sajid Sharyar

Pakistani

Pakistan

26-Ahmed Block, New Garden Town, Lahore

8-Ahmed Block New Garden Town, Lahore

Industrialist

Household

Marketing

Chief Executive

Director

Shareholders

Names

Address

No of Shares

Mr. Hadayatullah Sufi

Mr. Tariq ullah Sufi

Mr. Khalid Hadayat ullah Sufi

Mrs. Sadia Tariq

Mrs. Tahira Khalid

Mrs. Nusrat Shahzad

Mrs. Farhat Tanveer

Miss Saima Sufi

Mrs. Iffat Moeen

Mrs. Nuzhat Jabeen

Miss Nighat Jabeen

26-Ahmed Block, New Garden Town, Lahore

89-B, New Muslim Town, Lahore

204-G, Model Town, Lahore

26-Ahmed Block, New Garden Town, Lahore

3,174,002

3,078,161

1,079,161

939,401

939,001

70,380

------------

9,632,006

------------

Products

Banaspati Ghee, Canola Oil, Sun Flower Oil & Soya Bean Oil.

Associates

A. Subsidiary

None

B. Associated Companies

(1) Sufi Soap & Chemical Industries (Pvt) Ltd.

(2) Hadayat Soap & Chemical Industries (Pvt) Ltd.

(3) Sufi Tank Terminal (Pvt) Ltd.

(4) Al-Habib Free Eye Trust Hospital.

Annual Production Volume

15,000 - 20,000 M. Tons

Number of Employees

200

Annual Sales Volume

Year	In Pak Rupees
2006	600,000,000/- (Estimated)

Distributors

Distributors at each district level through out Pakistan

Bankers & Their Addresses

(1) MCB Bank Ltd, Circular Road Branch, Lahore, Pakistan.

(2) ABN AMRO Bank, N.V., 310 Upper Mall, Lahore, Pakistan.

(Mortgage obtained PKR 200,000,000/-)

Financial Position

Sound

Memberships

Lahore Chamber of Commerce & Industry.(LCCI)

(Membership # 25932).

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

Sufi Group of Companies enjoys good credibility in the Pakistan Business Circle. Subject Group is engaged in diversified activities, which include Soap Manufacturing, Cooking Oil & Ghee Manufacturing, and Chemicals etc. Directors of the Company 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

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%)

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