MIRA
INFORM REPORT
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Report Date : |
16.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RICE & SPICE
TRADING CO. |
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Registered Office : |
MR 6/4, 1st Floor Raees Tar Mohammad Street, Jodia Bazar, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import & Trading of Dry Fruits, Spices
& 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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
RICE & SPICE TRADING CO.
Full Address
|
Registered Address |
|
MR 6/4, 1st Floor Raees Tar Mohammad
Street, Jodia Bazar, Karachi, Pakistan. |
|
Tel |
92 (21) 2442323 |
|
Fax |
92 (21) 2417260 |
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Email |
Not Available |
Short Description Of Business
|
Nature of Business |
Import &
Trading of Dry Fruits, Spices & allied Products |
|
Year Established |
2003 |
Branches
None
Legal Status
Subject Company was established as a
Proprietorship business in 2003.
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Abdul Malik |
Pakistani |
MR 6/4, 1st Floor Raees Tar Mohammad
Street, Jodia Bazar, Karachi, Pakistan |
Business |
Proprietor |
Associates
A. Subsidiary
None
B. Associated
Companies
- Do -
Business Activities
Subject Company is engaged in the business as import & trading of Dry Fruits, Spices
& allied Products.
It purchases against L/C, D/A basis.
It sells against Credit terms.
It’s mainly import from China, India, Vietnam, Canada, Australia & Burma.
Its major customers are Traders, Retailers, Food Companies etc
Subject operates from caption leased office premises of area measuring 560 Sq.ft. which is situated in commercial area.
Subject employs about 3 persons in its set up.
Annual Sales Volume
|
Year |
In
Pak Rupees |
|
2006 |
10,000,000/-
(Estimated) |
Suppliers (Foreign)
Various international belongs to China, India, Vietnam & Australia
Bankers and their addresses
Meezan Bank Limited,
Jodia Bazar Branch, Karachi, Pakistan.
KASB Bank Limited,
Jodia Bazar Branch, Karachi, Pakistan.
Bank Alfalah
Limited, Jodia Bazar Branch, Karachi, Pakistan.
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 2003 and
is engaged in import & trading of Dry
Fruits, Spices & allied Products. Trade relations are reported as fair.
The 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 |
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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 |
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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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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 |
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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%)