MIRA INFORM REPORT

 

 

 

Report Date :

21.08.2008

 

IDENTIFICATION DETAILS

 

Name :
HAJI KHUDABUX AMIR UMAR (PRIVATE) LIMITED

 

 

Registered Office :

3rd Floor, Cotton Exchange Building, I.I. Chundrigar Road, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1973

 

 

Com. Reg. No.:

0003919  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Export, Indenting and Commission Agents of Cotton Products

 

 

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 :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

                                   

Business Name

 
HAJI KHUDABUX AMIR UMAR (PRIVATE) LIMITED

 

 

Full Address       

Registered Address

3rd Floor, Cotton Exchange Building, I.I. Chundrigar Road, Karachi, Pakistan

 

 

 

                       

Tel

92 (21) 2413205, 2420382, 2401222, +923332378134

Fax

92 (21) 2422493

Email

khudabux@cyber.net.pk,

iqbalumar@cyber.net.pk

 

 

Short Description Of Business

 

Nature of Business           

Engaged in Export, Indenting & Commission Agents of Cotton Products

Year Established

1973

Registration #

0003919  

 

 

Branches

           

In Lahore, Faisalabad & Multan

 

 

Plant Location

 

Chak 33/WB, Luddan Road,
Vehari District - 61100,

Pakistan

 

 

Auditors

 

A. J. Kazi & Co.

(Chartered Accoutants)

301, Qamar House, M.A. Jinnah Road, Karachi, Pakistan

 

 

Legal Status

           

Subject Company was established as a Private Limited Company in 1973

 

 

Authorized Capital

Rs. 2,000,000/- divided into 200,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 500,000/- divided into 50,000 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Maqbool Sadiq

 

 

Mr. Aamir Maqbool

 

Mr. Iqbal Umar

 

 

Mr. Saqib Siddique Shaikh

 

 

Mr. Fayyaz Umar

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

 

Pakistani

 

 

207/E-II, P.E.C.H.S., Karachi

 

207/E-II, P.E.C.H.S., Karachi

 

39-X, Block 6, P.E.C.H.S., Karachi

 

87/1, 15th Lane, Phase VII, D.H.A., Karachi

 

87/1, 15th Lane, Phase VII, D.H.A., Karachi

Business

 

 

Business

 

 

Business

 

 

Business

 

 

 

Business

 

 

Chief Executive

 

Director

 

 

Director

 

 

Director

 

 

 

Director

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Nasim Umar

 

Mst. Abida Begum

 

Mr. Fayyaz Umar

 

Mr. Aftab Umar

 

Mr. Rehan Umar

 

Mr. Usman Umar

 

Mr. Mohammad Afzal

 

Mr. Maqbool Sadiq

 

Mst. Farzana Masood

 

Mr. Shiraz Masood

 

Ms. Madhia Masood

 

Mst. Sarwar Begum

 

Mst. Sajida Maqbool

 

Mr. Amir Maqbool

 

Mrs. Ambreen Aamir

 

Mr. Iqbal Umar

 

Mst. Shahida Parveen

 

Mr. Saqib Siddique Shaikh

 

Mrs. Ansa  Saqib Shaikh

 

Mr. Haris Siddique Shaikh

4,750

 

800

 

5,250

 

3,250

 

800

 

800

 

1,000

 

5,000

 

4,417

 

3,083

 

2,084

 

2,833

 

2,250

 

1,333

 

1,000

 

4,550

 

800

 

2,000

 

2,000

 

2,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

  None                                                                     

           

B.         Associated Companies

 

Amir Umar Industries (Pvt.) Ltd, Pakistan.

(2) Import & Export, Pakistan.

 

 

Business Activities

 

(1) Subject Company is engaged in Export, Indenting & Commission Agents of Cotton Products.

 

(2) It purchases against L/C, D/A basis.

 

(3) It sells against L/C, as well as cash basis.

 

(3) Its mainly import from China, India, Thailand, Malaysia & Korea.

 

(4) Its major customers are Traders, Buying Agencies, Millers located in all major cities of Pakistan.

 

(5) Subject operates from caption leased office premises of area measuring 1,200 Sq.ft. which is situated in commercial building.

 

(6) Subject employs about 150 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2006

450,000,000/- (Estimated)

 

 

Business Associates (Foreign)

           

(1) M/s Allenberg Cotton Co. Cordova, TN. USA
(2) M/s LD Commodities Suisse, Geneva
(3) M/s Otto Stadtlander GmbH, Germany
(4) M/s Olam International Ltd., Singapore
(5) M/s Plains Cotton Cooperative Association, USA

 

 

Customers (Local)

           

(1) Sapphire Textile Mills Ltd, Pakistan.
(2) Tata Textile Mills Ltd, Pakistan.
(3) Gulistan Textile Mills Ltd, Pakistan.
(4) Indus Dyeing and Manufacturing Company Ltd, Pakistan.
(5) Ihsan Cotton Products (Pvt.) Ltd, Pakistan.
(6) Riaz Textile Mills (Pvt.) Ltd, Pakistan.
(7) Khas Textile Mills (Pvt.) Ltd, Pakistan.
(8) Fazal Cloth Mills Ltd, Pakistan.
(9) Mahmood Textile Mills Ltd, Pakistan.
(10) Din Textile Mills Ltd, Pakistan.
(11) Bhanero Textile Mills Ltd, Pakistan.
(12) Colony Textile Mills Ltd, Pakistan.
(13) Nagina Cotton Mills Ltd, Pakistan.
(14) Pak Kuwait Textile Mills Ltd, Pakistan.

 

 

Bankers

 

  1. Habib Bank Limited, Pakistan.
  2. Habib Metropolitan Bank Limited, Pakistan.
  3. Standard Chartered Bank, Pakistan.
  4. Faysal Bank Limited, Pakistan.
  5. Bank Alfalah Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce and Industry

·         Karachi Cotton Association

·         Pakistan Cloth Merchants' Association

·         Pakistan Cotton Ginners' Association

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

             Rs. 74.60

UK Pound

1

             Rs. 138.00

Euro

1

             Rs. 109.40
 
 

Comments

 

Subject Company was established in 1973 and is engaged in Export, Indenting & Commission Agents of Cotton Products. Market reputation is good. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

       

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.58

UK Pound

1

Rs.81.43

Euro

1

Rs.64.52

 

 

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