MIRA INFORM REPORT

Report Date :

17.12.2008

IDENTIFICATION DETAILS

Name :	MULTAN FEEDS PVT LIMITED

Registered Office :	10-Sher Shah Block, New Garden Town, Lahore

Country :	Pakistan

Year of Establishment :	1994

Com. Reg. No.:	0031981

Legal Form :	Private Limited Company

Line of Business :	Subject is engaged in commercial breeder / broiler farming

RATING & COMMENTS

MIRA’s Rating :

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

MULTAN FEEDS (PVT.) LIMITED

Full Address

Registered Address
10-Sher Shah Block, New Garden Town, Lahore, Pakistan
Tel	92 (42) 5941101 - 10 (10 Lines)
Fax	92 (42) 5911477
Email	multan@sabirsgroup.com

Short Description Of Business

a.	Nature of Business	Company is engaged in commercial breeder / broiler farming
b.	Year Established	1994
c.	Registration #	0031981

Factory Location

Near Lahore Paint Cement Bajree Store,

Chowk B.C.G., Mumtazabad, Multan,

Pakistan

Auditors

Zahid Hameed & Co.

(Chartered Accountants)

Suite # 5, 2^nd Floor, Ahad Heights, Mini Market, Gulberg, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1994

Authorized Capital	Rs. 1,000,000/- divided into 10,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 50,000/- divided into 500 shares of Rs. 100/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Designation

Mr. Muhammad Rafique Mughal

Mr. Ashiq Hussain Mughal

Mr. Hafiz Zahoor Ahmad Arain

Mr. Muhammad Iqbal Anjum

Mr. Iftikhar Ahmad

Pakistani

10-Sher Shah Block, New Garden Town, Lahore

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Muhammad Rafique Mughal

Mr. Ashiq Hussain Mughal

Mr. Hafiz Zahoor Ahmad Arain

Mr. Muhammad Iqbal Anjum

Mr. Iftikhar Ahmad

100

Associates

A. Subsidiary

None

B. Associated Companies

· Shahzor Feeds (Pvt.) Limited, Pakistan.

· Sabirs' Hatchery, Pakistan.

· Sabirs' Poultry, Pakistan.

Product/Services

Company is engaged in commercial breeder / broiler farming

Number of Employees

Annual Sales Volume (In Pak Rupees)

Rs. 40,000,000/- (Estimated)

Trade Suppliers (Foreign)

· FUZHOU FUCHENG, CHINA.

· EVONIK DEGUSSA, BELGIUM.

Authorized Distributors

Mainly in all major cities of Pakistan

Bankers

· Askari Bank Limited, Pakistan.

· Bank Alhabib Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Standard Chartered Bank, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 80.00
UK Pound	1	Rs. 119.50
Euro	1	Rs. 108.40

Comments

The conduct of the company is correct and the mode of payment prompt no complaints have been heard regarding payments to local suppliers. 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.47.94
UK Pound	1	Rs.72.07
Euro	1	Rs.64.70

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