MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FRIENDS COMPANY |
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Registered Office : |
505, 5th Floor, Al Rehmat Trade Centre, Opp City Court,
Karachi |
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Country : |
Pakistan |
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Year of Establishment : |
1993 |
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Legal Form : |
Partnership |
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Line of Business : |
Import and Trading of all type of
Commodities including Food Grains, Pulses, Spices, Seeds, Cheak Peas etc |
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 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
FRIENDS COMPANY
Full Address
|
Registered
Address |
|
505, 5th
Floor, Al Rehmat Trade Centre, Opp City Court, Karachi, Pakistan |
|
Tel |
92 (21) 2721585 |
|
Fax |
92 (21) 2721585 |
Short Description Of Business
|
Nature of
Business |
Import & Trading of all type of
Commodities including Food Grains, Pulses, Spices, Seeds, Cheak Peas etc |
|
Year Established |
1993 |
|
National Tax # |
0275880 |
Branches
6, Waqar Centre, Jodia Bazar,
Karachi, Pakistan
Legal Status
Subject Company was established as a Partnership business in 1993
Details of Managing Partner /
Partners
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Ansar Zakai Mr. Muhammad Izhar Zakai |
Pakistani Pakistani |
505, 5th
Floor, Al Rehmat Trade Centre, Opp City Court, Karachi 505, 5th
Floor, Al Rehmat Trade Centre, Opp City Court, Karachi |
Business Business |
Managing Partner Partner |
Business Activities
Subject Company is engaged in the business as import & trading of all type of Commodities including Food Grains, Pulses, Spices, Seeds, Cheak Peas etc.
It purchases against D/A basis.
It sells against Credit terms.
It’s mainly import from China, India, Singapore, Canada, Australia, Ukraine, Vietnam.
Its major customers are Traders, Retailers etc
Subject operates from caption leased office premises situated in commercial area.
Subject employs about 4 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
12,000,000/- (Estimated) |
Trade Suppliers (Foreign)
Various international belongs to China, India, Canada, Australia, Ukraine & Vietnam
Bankers
- Askari
Bank Limited, North Napier Road Branch, Karachi, Pakistan.
- Bank
Alfalah Limited, North Napier Road Branch, Karachi, Pakistan.
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 78.20 |
|
UK Pound |
1 |
Rs. 112.50 |
|
Euro |
1 |
Rs. 97.20 |
Comments
Subject Company was established in 1993 and
is engaged in import & trading of
all type of Commodities including Food Grains, Pulses, Spices, Seeds, Cheak
Peas etc. Overall reputation is normal. Trade relations are reported as
fair. Subject can be considered for normal business dealings at usual trade
terms and conditions.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.82 |
|
UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
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%)