MIRA INFORM REPORT

Report Date :

22.07.2008

IDENTIFICATION DETAILS

Name :	WAHEED BROTHERS PAKISTAN (PVT) LIMITED

Registered Office :	96-B-2, M.M. Alam Road, Gulberg III, Lahore

Country :	Pakistan

Date of Incorporation :	1983

Com. Reg. No.:	0010507

Legal Form :	Private Limited Company

Line of Business :	Import and Trading of Tyres for Cars and Trucks

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

WAHEED BROTHERS PAKISTAN (PVT) LIMITED

Full Address

Registered Address

96-B-2, M.M. Alam Road, Gulberg III, Lahore, Pakistan

Tel

92 (42) 5752471 (4 lines)

Fax

92 (42) 5711633, 5763255

wbros@cyber.net.pk,

wbros@nexlinx.net.pk

Short Description Of Business

Nature of Business	Import & Trading of Tyres for Cars & Trucks
Year Established	1983
Registration #	0010507

Branches

Address	Office # 9, 1st Floor, HakimSons Building, 19 West Wharf Road, Karachi, Pakistan
Tel #	92 (21) 2202657, 2202659
Fax #	92 (21) 2202681

Address	Shop #12-13, Liaqat Plaza, Liaquat Road, Faisalabad, Pakistan
Tel #	92 (41) 2624957, 2620313

Auditors

Munif Ziauddin & Co.

(Chartered Accoutants)

M-40, Bank Road, Rawalpindi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1983

Authorized Capital	Rs. 85,000,000/- divided into 8,500,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 70,000,000/- divided into 7,000,000 shares of Rs. 10/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Bahjat Majid

Mrs. Farzana Waheed

Mrs. Zahida Majid

Mr. Solat Waheed

Pakistani

20-C-1 Gulberg-III, Lahore

Business

Chief Executive

Director

Shareholders

Names

Mr. Bahjat Majid

Mrs. Farzana Waheed

Mrs. Zahida Majid

Mr. Solat Waheed

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

(1) Subject Company is engaged in import & trading of Tyres for Cars & Trucks.

(2) It purchases against L/C, D/A basis.

(3) Its mainly import from China, India, Thailand, Malaysia & Korea.

(4) Its major customers are Traders, Retailers located in all major cities of Pakistan.

(5) Subject operates from caption leased office premises of area measuring 1,600 Sq.ft. which is situated in commercial area.

(6) Subject employs about 25 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2007	120,000,000/- (Estimated)

Agencies (Foreign)

(1) GOODYEAR TYRES, U.S.A.

(2) GOODYEAR INDIA LIMITED, INDIA.

(3) COOPER TIRE & RUBBER COMPANY, U.S.A.

Bankers

United Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

Standard Chartered Bank, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 71.50
UK Pound	1	Rs. 142.20
Euro	1	Rs. 112.90

Comments

Subject Company was established in 1983 and is engaged in import & trading of Tyres for Cars & Trucks. All the directors are reported as resourceful and experienced businessmen. 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%)

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