MIRA
INFORM REPORT
|
Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KANGORE TRADERS |
|
|
|
|
Registered Office : |
Suite No. 716, Hussain Trade Center, New Challi, Karachi –
74200 |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Import & Trading of Beans, Lentils, Seeds, Chick Peas, Black Matpe. Export of Rice & Pulses. |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Business Name
KANGORE TRADERS
Full Address
|
Registered Address |
|
Suite No. 716, Hussain Trade Center, New Challi, Karachi - 74200, Pakistan |
|
Tel |
92 (21) 2219875, 2214876, 2214878 |
|
Fax |
92 (21) 2214877 |
|
|
Short Description Of Business
|
a. |
Nature of Business |
(1) Import & trading of beans, lentils, seeds, chick peas, black matpe. (2) Export of rice & pulses. |
|
b. |
Year Established |
1992 |
Branches
None
Legal Status
Subject Company was established as a Proprietorship Business
in 1992
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Noval Rai Singh |
Pakistani |
Clifton, Karachi |
Trading Business |
Proprietor |
Associates
A. Subsidiary
Kohistan & Co., Pakistan
Associated Companies
Chandibai Traders, Pakistan
Business Activities
Subject Company is engaged in import and trading of Yellow Grams, Red Lentils, Red Kidney Beans, Sesames Seeds, Chick Peas, Black Matpe.
Also engaged in export of Rice & Pulses.
It purchases against L/C, D/A basis
It sells against cash / credit terms.
Its’ major customers are Trading Companies, Distributors, Retailers etc.
Subject operates from caption leased office premises of area measuring 765 Sq ft, which is situated in commercial building.
Subject employs about 6 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
65,000,000/- (Estimated) |
Trade Suppliers (Foreign)
· JAWAHAR EXPORTS, INDIA.
· AGRO CORP INT PTE LIMITED, SINGAPORE.
· OLAM TANZANIA LIMITED, TANZANIA.
· VARDHMAN EXPORTS, INDIA.
· SHEETAL INDUSTRIES, INDIA.
Exporting Countries
Mainly to India, Bangladesh, Turkey & U.A.E.
Importing Countries
Mainly from India, Singapore, China, Australia, Tanzania,
Bulgaria, Russia
Bankers and their addresses
· Askari Commercial Bank Ltd, North Napier Road Branch, Karachi, Pakistan.
· Habib Metropolitan Bank Limited, Main Branch, I.I. Chundrigar Road, Karachi, Pakistan.
Memberships
· Karachi Chamber of Commerce & Industry. (KCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 71.60 |
|
UK Pound |
1 |
Rs. 142.80 |
|
Euro |
1 |
Rs. 113.40 |
Comments
Subject Company was established in 1992 and is engaged in import and trading of Yellow Grams, Red Lentils, Red Kidney Beans, Sesames Seeds, Chick Peas, Black Matpe. Market reputation is good. Trade relations are reported as fair. The 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. 42.33 |
|
UK Pound |
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 66.75 |
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%)