MIRA INFORM REPORT

 

 

Report Date :

05.02.2008

 

IDENTIFICATION DETAILS

 

Name :

WASEEM IMPEX CORPORATION

 

 

Registered Office :

435, Bhayani Centre, Block-M, North Nazimabad, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1976

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import / Distribution of Veterinary Medicines, Feed Additives and Allied Products.

 

 

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

 

 

 

Business Name

 

WASEEM IMPEX CORPORATION

 

 

Full Address

 

Registered Address

435, Bhayani Centre, Block-M, North Nazimabad, Karachi, Pakistan.

 

Tel

92 (21) 6642348, 6627857

Fax

92 (21) 6644564

Email

wic@cyber.net.pk

 

 

Short Description Of Business

 

Nature of Business

Import / Distribution of Veterinary Medicines, Feed Additives and Allied Products.

Year Established

1976

 

 

Branches

 

In Lahore, Faisalabad, Rawalpindi, Multan, Hyderabad, Sukkur & Quetta.

 

 

Legal Status

 

Subject Concern was established as a Proprietorship business in 1976

 

 

Details of Proprietor

 

Names

Nationality

Address

Occupation

Designation

Mr. Waseemuddin

Pakistani

D-39, Block-N, North Nazimabad, Karachi, Pakistan.

Business

Proprietor

 

 

Associates

 

A.         Subsidiary

 

(1)  Agrovet Marketing Services, Pakistan

 

 

B.         Associated Companies

 

Quality Water Bottlers, Pakistan

 

 

Product/Services

 

Import / Distribution of Veterinary Medicines, Feed Additives and Allied Products.

 

 

Number of Employees

 

53

 

 

Annual Import Turnover (In Pak Rupees)

 

150,000,000/- (Approximately).

 

 

Annual Sales Volume

 

Year
In Pak Rupees

2006

70,000,000/- (Estimated)

 

 

Agencies (Foreign)

 

(1)     Richter Pharma, Austria.

(2)     Ceva Sante Animale, France.

(3)     Cenavisa S.A. Laboratories, Spain.

 

 

Customers

 

Feed Millers, Whole Sale Traders, Retail Traders, Government Veterinary Organizations, Live Stocks and Farmers.

 

 

Bankers and their addresses

 

Habib Bank Limited, Napier Road Branch, Karachi, Pakistan.

 

Habib Bank Limited, Napier Road Branch, Karachi, Pakistan.

 

MCB Bank Limited, Business Recorder House, Karachi, Pakistan.

 

Union Bank Limited, Haidery Branch, Karachi, Pakistan.

 

 

Brief Profile Of Proprietor

 

Proprietor

Mr. Waseemuddin

Academic Qualification

Master Degree from University of Karachi.

Experience

Marketing Experience for more than 25 years in the same field.

 

 

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 1976 and is engaged in import & distribution of Veterinary Medicines, Feed Additives and Allied Products.  The office set-up is good looking & staff employed is reasonably skilled. Market reputation is good. 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