MIRA INFORM REPORT

 

 

Report Date :

18.08.2008

 

 

IDENTIFICATION DETAILS

 

Name :

AQUA MARITIME (PRIVATE) LIMITED  

 

 

Registered Office :

408, 4th Floor, Progressive Plaza, Beaumont Road, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1994

 

 

Com. Reg. No.:

0033685  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Freight Forwarding Business

 

 

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

 

AQUA MARITIME (PRIVATE) LIMITED  

 

 

Full Address       

 

Registered Address

408, 4th Floor, Progressive Plaza, Beaumont Road, Karachi, Pakistan

                       

Tel

92 (21) 5689067, 5686053

Fax

92 (21) 5684862

Email

maritime@cyber.net.pk

 

 

Short Description Of Business

 

Nature of Business           

Freight Forwarding Business

Year Established

1994

Registration #

0033685  

 

 

Branches

 

16 - 17, Imperial Hotel, 2-M.T. Khan Road,

Karachi, Pakistan

 

 

 

Legal Advisors

           

M/s Habib Law & Co.

(Legal Advisor)

Suit No. 208, 2nd Floor, Al-Falah Market-A, Abdullah Haroon Road, Karachi, Pakistan

           

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 1994

 

 

Authorized Capital

Rs. 200,000/- divided into 2,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 200,000/- divided into 2,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Occupation

Designation

Mr. Zafarullah Khan

 

Mr. Asadullah Khan

Pakistani

 

Pakistani

Business

 

Business

Chief Executive

 

Director

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Zafarullah Khan

 

Mr. Asadullah Khan

 

Mr. Badarullah

 

Mr. Ghazanfarullah

 

Mr. Arshadullah Khan

940

 

640

 

140

 

140

 

140

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                                

           

B.         Associated Companies

 

Aquatic Shipping & Trading Co, Pakistan.

Baluchistan Cement Factory, Pakistan.

 

 

 

Services

 

International freight forwarding (Air + Sea), Customs Brokerage & Warehousing.

 

 

Number of Employees

 

15

 

 

Annual Income

 

Year

In Pak Rupees

2006

7,000,000/- (Estimated)

 

 

 

Customers

 

Various Locals

 

 

Bankers

 

Doha Bank Limited, Pakistan.

Standard Chartered Bank (Pakistan) Limited, Pakistan.

MCB Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

             Rs. 76.50

UK Pound

1

             Rs. 141.50

Euro

1

             Rs. 112.40

           

Comments

 

Aqua Maritime (Pvt) Limited was established as a Private Limited Company in 1994, Since then it is offering full range of freight forwarding services. Aqua Maritime is a fully licensed company having all required approvals by the Government of Pakistan. Subject can be considered for moderate business engagements at usual terms and conditions.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.23

UK Pound

1

Rs.80.89

Euro

1

Rs.63.80

 

 

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