MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED SALIM MOHAMED SIDDIQ |
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Registered Office : |
MR-5, 80/81,
Thanai Lane, Jodia Bazar, Karachi 74000 |
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Country : |
Pakistan |
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Date of Incorporation : |
1992 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import and Trading
of Tea |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
|
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
MOHAMED SALIM MOHAMED SIDDIQ
Full Address
|
Registered Address |
|
MR-5, 80/81,
Thanai Lane, Jodia Bazar, Karachi 74000, Pakistan |
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Tel |
92 (21) 2442238,
2437413 |
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Fax |
92 (21) 2413796 |
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Short Description Of Business
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Nature of Business |
Import &
Trading of Tea |
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Year Established |
1992 |
Branches
In Hyderabad &
Karachi
Legal Status
Subject Company was established as a Proprietorship business in 1992
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Siddiq |
Pakistani |
MR-5, 80/81,
Thanai Lane, Jodia Bazar, Karachi |
Business |
Proprietor |
Associated Companies
(1) M.S.
Rehmatullah, Pakistan
Business Activities
Subject Company is engaged in the business as import & trading of Tea.
It purchases against L/C, D/A basis.
It sells against Cash terms.
It’s mainly import from Bangladesh, Srilanka, Kenya & India.
Its major customers are Retailers, Individuals & Distributors in Karachi & Hyderabad.
Subject operates from caption leased shop premises of area measuring 900 Sq.ft., which is situated in commercial market of Jodia Bazar.
Subject employs about 7 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
30,000,000/-
(Estimated) |
Trade Suppliers (Foreign)
ELITE INTERNATIONAL LIMITED, BANGLADESH.
JAMES FINLAY, MOMBASA.
KENYA TEA DEVELOPMENT AGENCY, KENYA.
Bankers
Habib Bank Limited,
Pakistan.
Meezan Bank Limited,
Pakistan.
Bank Alfalah
Limited, Pakistan.
MCB Bank Limited,
Pakistan.
Memberships
Karachi Chamber of Commerce & Industry. (KCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 73.40 |
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UK Pound |
1 |
Rs. 143.80 |
|
Euro |
1 |
Rs. 114.40 |
Comments
Subject Company was established in 1992 and is engaged in import & trading of Tea. Market reputation is good. Trade relations are reported as fair. Subject Company can be considered for normal business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.13 |
|
UK Pound |
1 |
Rs.85.02 |
|
Euro |
1 |
Rs.67.77 |
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 |
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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%)