MIRA INFORM REPORT

 

 

Report Date :

02.02.2008

 

IDENTIFICATION DETAILS

 

Name :

YAQOOB  and SONS

 

 

Registered Office :

139 Circular Road, Outside Shah Alam Gate, Lahore

 

 

Country :

Pakistan

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

1988

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import and Trading of Industrial Chemicals

 

 

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 :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

company Name

 

YAQOOB & SONS

 

 

Address

                       

Registered Address

139-Circular Road, Outside Shah Alam Gate, Lahore, Pakistan

Tel        92 (42) 7651581, 7656878

Fax       92 (42) 7663300

Email    sadiqyaqoob@yahoo.com

 

 

Short Description Of Business

a.         Nature of Business                     Import & Trading of Industrial Chemicals

b.         Year Established                       1988

c.         National Tax #                           0148774

 

 

Branches

 

None

 

 

Legal Status

 

Subject Concern was established as a Proprietorship business in 1988

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Sheikh Muhammad Yaqoob

 

 

Mr. Muhammad Sadiq Yaqoob

Pakistani

 

 

 

 

Pakistani

139-Circular Road, Outside Shah Alam Gate, Lahore

 

139-Circular Road, Outside Shah Alam Gate, Lahore

Trading Business

 

 

 

Trading Business

 

 

Proprietor

 

 

 

 

Manager (Import)

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

Subsidiary

 

            None   

 

Associated Companies

 

Jaffer Traders, Pakistan.

 

 

Business Activities

 

v      Subject Concern  is engaged in the business as Import & Trading of Industrial Chemicals.

v      It purchases against L/C basis.

v      It sells against Credit terms.

v      It’s mainly import from China, India, Korea, Taiwan, Malaysia, Ukraine & Turkey.

v      Its’ major customers are Trading Companies, Manufacturing Concerns etc.

v      Subject operates from caption leased shop premises of area measuring 1,000 sq.ft. which is situated in commercial area.

v      Subject employs about 8 persons in its set up.

 

Trade Suppliers (Foreign)

 

(1) SIGACHI CHLORO-CHEMICALS (PVT) LIMITED, INDIA.

(2) JORDAN CARBONATE CO., JORDAN. 

 

 

Annual Sales Volume

 

Year                                                           In Pak Rupees

2006                                                           35,000,000/- (Estimated)

 

 

Bankers

v      MCB Bank Limited, Pakistan.

v      The Bank of Punjab, Pakistan.

v      Standard Chartered Bank, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

             Rs. 62.30

UK Pound

1

             Rs. 124.40

Euro

1

             Rs. 92.85

           

 

Comments

 

Subject Concern was established in 1988 and is engaged in import & trading of Industrial Chemicals. Market reputation is satisfactory. Trade relations are reported as fair. The Concern can be considered for normal business dealings at usual trade terms and conditions.

 

 

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