MIRA INFORM REPORT

 

 

 

Report Date :

08.12.2008

 

IDENTIFICATION DETAILS

 

Name :

HTL TRANS (PVT) LIMITED  

 

 

Registered Office :

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

2001

 

 

Com. Reg. No.:

0042316

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Freight Forwarding business

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

                                   

Business Name

 

HTL TRANS (PVT) LIMITED  

 

 

Full Address       

 

Registered Address

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore, Pakistan

                       

 

Tel

92 (42) 7592456, 7583908, 7574530

Fax

92 (42) 7592457

 

 

Short Description Of Business

 

Nature of Business           

Freight Forwarding business

Year Established

2001

Registration #

0042316  

 

 

Branches

 

Suite # 706, 7th Floor, Marine Faisal,

Block 6, P.E.C.H.S, Shahrah-e-Faisal,

Karachi

 

 

Auditors

 

Ahmad Mushir & Co.

(Chartered Accountants)

16-Bank Square, Lahore, Pakistan

 

Legal Status       

           

Subject Company was established as Private Limited Company in 2001

 

 

Authorized Capital

Rs. 10,000,000/- divided into 1,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 7,408,200/- divided into 740,820 shares of Rs. 10/- each

 

Details of Chief Executive / Directors

 

Names

Address

Occupation

Designation

Mr. Noor Muhammad

 

 

 

Mr. Abdul Rahman Thameem

 

 

Mr. Ahmed Reyaz Farook

 

 

Mr. Mansur Ali Rahman

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore, Pakistan

 

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore, Pakistan

 

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore, Pakistan

 

Suite 301, 3rd Floor, Eden Centre, 43-Jail Road Lahore, Pakistan

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

Chief Executive

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

Shareholders                

Names

Mr. Noor Muhammad

 

Mr. Abdul Rahman Thameem

 

Mr. Ahmed Reyaz Farook

 

Mr. Mansur Ali Rahman

 

 

 

 

 

 

 

 

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

             None                                               

           

B.         Associated Companies

 

(1)  HTL Logistics (Private) Limited, Pakistan.

 

 

Services

 

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

 

 

Number of Employees

 

22

 

 

Annual Revenue

Year

In Pak Rupees

2006

10,000,000/- (Estimated)

 

 

 

 

 

Customers

 

Various Local including Private Companies, Import / Export Companies, Manufacturers etc

 

 

Bankers

 

  1. Askari Bank Limited, Pakistan.
  2. MCB Bank Limited, Pakistan.
  3. KASB Bank Limited, Pakistan.
  4. Faysal Bank Limited, Pakistan.

 

 

Memberships

 

Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

             Rs. 78.20

UK Pound

1

             Rs. 112.70

Euro

1

             Rs. 97.40

           

 

Comments

 

Subject Company was established in 2001 and is engaged in providing services related to freight forwarding. HTL TRANS (PVT) LIMITED 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.49.22

UK Pound

1

Rs.75.03

Euro

1

Rs.63.14

 

 

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