MIRA INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SCHNEERSON COTTON INDUSTRIES |
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Registered Office : |
Sufi Pura Near
Lasani Mosque, Rang Pura, Sialkot |
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Country : |
Pakistan |
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Year of Establishment : |
1972 |
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Com. Reg. No.: |
RF/SD/296 |
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Legal Form : |
Partnership |
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|
|
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Line of Business : |
Fiber sourcing
company specializing in export of Cotton waste from Pakistan and supplying Imported
Cotton to Pakistani mills |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
SCHNEERSON
COTTON INDUSTRIES
Full Address
|
Registered Address |
|
Sufi Pura Near Lasani
Mosque, Rang Pura, Sialkot, Pakistan |
|
Tel |
92 (52) 4582804, 4602539 |
|
Fax |
92 (52) 4602804 |
Short Description Of Business
|
a. |
Nature of Business |
Fiber sourcing company specializing in export of Cotton waste from Pakistan
and supplying Imported Cotton to Pakistani mills. |
|
b. |
Year Established |
1972 |
|
c. |
Registration # |
RF/SD/296 |
Overseas Branch
Jln Raya Darmo,
Harapan Et No 7,
Surabaya - 60187, Indonesia
Legal Status
Subject Company was established as a Partnership business in 1972
Details of Managing Partner /
Partners
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Sohaib-Uz-
Zaman Mr. Kashif Ali Mr. Sheikh Nouman
Ul Zaman |
Pakistani Pakistani Pakistani |
Sufi Pura Near Lasani Mosque, Rang Pura,
Sialkot Sufi Pura Near Lasani Mosque, Rang Pura,
Sialkot Sufi Pura Near Lasani Mosque, Rang Pura,
Sialkot |
Business Business Business |
Managing Partner Partner Partner |
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Business
Activities
(1) Subject Company is Fiber sourcing company specializing in export of Cotton waste from Pakistan and supplying Imported Cotton to Pakistani mills.
(2) It purchases against 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 factory premises of area measuring 6,000 Sq Yards which is situated in industrial area.
(6) Subject employs about 100 persons in its set up.
Annual Sales Volume
|
Year |
In
Pak Rupees |
|
2006 |
200,000,000/-
(Estimated) |
Bankers
·
Bank Alfalah Limited, Pakistan.
·
Bank Al-Habib Ltd, Pakistan.
·
Soneri Bank Limited, Pakistan.
·
Standard Chartered Bank, Pakistan.
Memberships
· Sialkot Chamber of Commerce & Industry.(SCCI)
· Federation Pakistan Chamber of Commerce & Industry.(FPCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani
Rupee |
|
US Dollar |
1 |
Rs. 78.20 |
|
UK Pound |
1 |
Rs. 115.80 |
|
Euro |
1 |
Rs. 97.90 |
Comments
Subject Company was
established in 1972 and is basically Fiber sourcing company specializing in
export of Cotton waste from Pakistan and supplying Imported Cotton to Pakistani
mills. Market reputation is good. All the partners are reported as qualified,
resourceful & experienced businessmen. 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.49.79 |
|
UK Pound |
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.63.08 |
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 |
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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 |
|
<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 |
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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%)