MIRA INFORM REPORT

Report Date :

16.02.2008

IDENTIFICATION DETAILS

Name :	BUSINESS ASSOCIATES INTERNATIONAL (PVT) LIMITED

Registered Office :	Room No. 18, 2nd Floor, Republic Motors Building, 87 Shahrah-e-Quaid-e-Azam, Lahore

Country :	Pakistan

Date of Incorporation :	1984

Com. Reg. No.:	0012281

Legal Form :	Private Limited Company

Line of Business :	Import / Export Business of Knitted and Woven Garments, Bedsheets and Fabrics etc

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

BUSINESS ASSOCIATES INTERNATIONAL (PVT) LIMITED

Full Address

Registered Address

Room No. 18, 2nd Floor, Republic Motors Building, 87 Shahrah-e-Quaid-e-Azam, Lahore, Pakistan

Tel	92 (42) 6308380, 6308381
Fax	92 (42) 6306437

Short Description Of Business

Nature of Business	Import / Export business
Year Established	1984
Registration #	0012281

Branches

In Karachi

Auditors

Khawaja Riaz Hussain

(Chartered Accountants)

4-A, Mozang Road, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1984

Authorized Capital	Rs. 500,000/-
Issued & Paid up Capital	Rs. 484,500/-

Details of Directors

Names

Address

Occupation

Designation

Mr. Khalid Latif

Mr. Naqeeb Khalid

Mr. Mujeeb Azhar Khalid

Room No. 18, 2nd Floor, Republic Motors Building, 87 Shahrah-e-Quaid-e-Azam, Lahore

Business

Chief Executive

Director

Shareholders

Names

Mr. Khalid Latif

Mr. Naqeeb Khalid

Mr. Mujeeb Azhar Khalid

Associates

A. Subsidiary

None

B. Associated Companies

Biodata Research Laboratories, Pakistan.

Aamina Medical Complex & Research, Pakistan.

Aamina Naqeeb Khalid Textiles (Pvt) Limited, Pakistan.

Business Activities

Subject Company is engaged in the business as Import / Export of Knitted and Woven Garments, Bedsheets and Fabrics, Cotton & Blended Yarn, Towels, Acrylic Yarn, Calcium Carbonate, Fresh Fruits, Marble Tiles, Wooden Furniture, Plastic Raw Materials, Chemicals, Non Ferrous Metals, Rubber etc.

It purchases raw material against D/A basis.

It’s mainly export to U.S.A., Fareast region.

It’s mainly import from China, India, Malaysia, Taiwan, Thailand & Germany.

Its’ major customers are Traders, Buying Agencies etc.

Subject operates from caption leased office premises of area measuring 1,100 Sq ft. which is situated in commercial centre.

Subject employs about 10 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006	30,000,000/- (Estimated)

Bankers

Meezan Bank Limited, Pakistan.

MCB Bank Limited, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

Memberships

Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 63.25
UK Pound	1	Rs. 123.90
Euro	1	Rs. 92.60

Comments

Subject Company was established in 1984 and is engaged in import / export business. Trade relations are reported as fair. Company 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