MIRA INFORM REPORT

 

 

Report Date :

23.06.2008

 

IDENTIFICATION DETAILS

 

Name :

SEAGUIDE AGENCIES  

 

 

Registered Office :

Room No. 14, 1st Floor, Ibrahim Building, West Wharf, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1997

 

 

Com. Reg. No.:

1154132

 

 

Legal Form :

Partnership

 

 

Line of Business :

Freight Forwarding Company.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

Business Name

 

SEAGUIDE AGENCIES  

 

 

Full Address       

 

Registered Address

Room No. 14, 1st Floor, Ibrahim Building, West Wharf, Karachi, Pakistan

                       

Tel

92 (21) 2315607, 2204042

Fax

92 (21) 2201944

 

 

Short Description Of Business

 

Nature of Business           

Freight Forwarding Company.

Year Established

1997

Registration #

1154132

 

 

Branches

           

None

 

 

Legal Status       

           

Subject Company was established as a Partnership business in 1997

 

 

Details of Managing Partner / Partners

 

Names

Address

Occupation

Designation

Mr. Muhammad Imran

 

 

 

Mr. Latif Butt

Room No. 14, 1st Floor, Ibrahim Building, West Wharf, Karachi

 

Room No. 14, 1st Floor, Ibrahim Building, West Wharf, Karachi

Business

 

 

 

 

Business

 

 

Managing Partner

 

 

 

 

Partner

 

 

 

 

 

 

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                                

           

B.         Associated Companies

 

                        - Do -

 

 

Services

 

Freight Forwarding Company (Air + Sea), Customs Brokerage & Warehousing.

 

 

Number of Employees

 

8

 

 

Annual Income (Last 3 Years)

 

Year

In Pak Rupees

2006

7,000,000/- (Estimated)

 

 

Agencies (Local and foreign)

 

Not disclosed by the Management of the Company           

 

 

Customers

 

Mainly Private Companies, Import / Export Companies etc

 

 

Bankers

 

MCB Bank Limited, Pakistan.

Habib Bank Limited, Pakistan.

United Bank Limited, Pakistan.

 

 

 

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

Rs. 68.00

UK Pound

1

  Rs. 134.60

Euro

1

  Rs. 106.35

 

 

Comments

 

Subject Company was established in 1997 and is engaged in Freight Forwarding business. Overall reputation is normal. Trade relations are reported as fair. Subject 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

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