MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAF CORPORATION |
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Registered Office : |
Lane - A, Unit 1-2-3, Industrial Estate, Sialkot |
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Country : |
Pakistan |
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Date of Incorporation : |
1914 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Manufacture &
Export of Sports Goods |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
GAF CORPORATION
Full Address
Registered Address
& Factory
Lane - A, Unit 1-2-3, Industrial Estate, Sialkot, Pakistan
Tel 92 (52) 3554756, 3555764, 3256859
Fax 92 (52) 3552210, 3558435
Email gaf@skt.comsats.net.pk
Short Description Of Business
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Nature of Business |
Manufacture & Export of Sports Goods |
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Year Established |
Established in
1914 (operational in 1954) |
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National Tax # |
1726556 |
Branches
In Lahore
Legal Status
Subject was established as a Proprietorship Concern in 1914, but operational in 1954
Details of Management
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Names |
Address |
Occupation |
Designation |
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Mr. Sheikh Muhammad Ali Mr. Muhammad Omer Farooq Mr. Sheikh Alla-Ud-Din |
A-2 Industrial Estate, Sialkot A-2 Industrial Estate, Sialkot A-2 Industrial Estate, Sialkot |
Business Business Business |
Chief Executive Marketing Manager Production Manager |
Associates
A. Subsidiary
None
B. Associated Companies
(1) Lucid Industries, Pakistan.
Business Activities
(1) Subject Concern was engaged in the business as manufacture & export of Sports Goods.
(2) Its sales against L/C, T.T. basis.
(3) Its major customers are Distributors, Sports Associations, Individuals etc.
(4) Its exporting countries are European Countries.
(5) Subject operates from caption leased Factory acquired on 3. acres of land which is situated in industrial area.
(6) Subject employs about 275 - 290 persons in its set up.
Actual Production Volume
Approximately 2,000,000 pieces per annum
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
200,000,000/- (Estimated) |
Bankers
Meezan Bank Limited, Pakistan.
Bank Alfalah Limited, Pakistan.
Standard Chartered Bank, Pakistan.
Allied Bank Limited, Pakistan.
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 61.65 |
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UK Pound |
1 |
Rs. 122.10 |
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Euro |
1 |
Rs. 91.20 |
Comments
Subject Concern was established
in 1914 (operational in 1954) and is engaged in manufacture & export of Sports Goods. Overall 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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)