MIRA INFORM REPORT

 

 

Report Date :

27.06.2008

 

IDENTIFICATION DETAILS

 

Name :

YOUNGS (PRIVATE) LIMITED

 

 

Formerly Known as :

YOUNGS FOOD PRODUCTS

 

 

Registered Office :

293/16, Block 3, B.Y.J.C.H.S., Bahadurabad, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1988

 

 

Com. Reg. No.:

00000011031

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Manufacture and Marketing of Food and Allied Products

 

 

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

 
YOUNGS (PRIVATE) LIMITED (FORMERLY: YOUNGS FOOD PRODUCTS

 

 

Full Address       

 

Registered Address

Factory Address

293/16, Block 3, B.Y.J.C.H.S., Bahadurabad, Karachi, Pakistan.

C 1(D)-3, Sector16, Korangi Industrial Area 74000 Karachi, Pakistan.

                       

Tel

92 (21) 4855654, 4855655, 4855656

 

Tel

92 (21) 5069572

Fax

92 (21) 4855657

 

Fax

92 (21) 5069573

Email

 info@youngsfood.com

 

Website

www.youngsfood.com

 

 

 

Short Description Of Business

 

Nature of Business           

Manufacture & Marketing of Food & Allied Products.

Year Established

1988

Registration #

00000011031

 

 

Legal Advisor

 

Professional Management Solutions

1st Floor, Aleem Centre, Main Rashid Minhas Road, Block 5, Gulshan-e-Iqbal, Karachi, Pakistan

 

 

Legal Status       

           

Subject Company was established as a Proprietorship Business in 1988. In May, 2005 it was converted to Private Limited Company

 

 

 

Authorized Capital

Rs. 100,000,000/- divided into 10,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 49,999,960/- divided into 4,999,996 shares of Rs. 10/- each

 

 

 

 

 

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Sohail Younus

 

 

 

Mr. Mansoor Ahmed

 

 

 

Mr. Muneer Ahmed

 

 

 

Mr. Atif Ahmed

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

284-B, Block 3, K.A.E.C.H.S., Karachi

 

D-21, Block 1, K.A.E.C.H.S., Karachi

 

D-21, Block 1, K.A.E.C.H.S., Karachi

 

D-21, Block 1, K.A.E.C.H.S., Karachi

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

Chief Executive

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Sohail Younus

 

Mr. Mansoor Ahmed

 

Mr. Muneer Ahmed

 

Mr. Atif Ahmed

2,249,999

 

1,249,999

 

749,999

 

749,999

 

 

Associated Companies

 

(1) Young’s Global (Private) Limited, Pakistan.

(2) Shangrila Products, Pakistan.

 

 

Products

 

Mayonnaise, Chicken Spread, Sandwich Spread, Garlic Spread, Chocolate Spreade, Natural Honey, Soya Sauce, Hot/Chilli Sauce, Vinegars, Pickles, Tomato Ketchup & Mustard Oil.

 

 

Number of Employees

 

185

           

 

 

 

 

Annual Production Volume

 

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2007

380,000,000/- (Estimated)

 

 

Customers

 

Currently in over 80 geographical areas are including Metropolitan cities, large cities and small towns spanning in all four provinces of Pakistan.

 

 

Exporting Countries

 

Mainly to GCC and USA. Recently started exporting to Australia and West African countries.

 

 

Bankers and their addresses

 

  1. MCB Bank Limited, Bahadurabad Branch, Karachi, Pakistan.

 

  1. Bank Al Falah, Shahrah -e- Faisal Branch, Karachi, Pakistan.

 

  1. Habib Bank AG Zurich, Islamic Banking Branch, Al Falah Court, I.I. Chundrigar Road, Karachi, Pakistan.

 

  1. Meezan Bank Limited, 3rd Floor, PNSC Building, M.T. Khan Road, Karachi, Pakistan.

 

 

 

Financial Position

 

Sound

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupees

US Dollar

1

           Rs. 68.40

UK Pound

1

           Rs. 135.05

Euro

1

           Rs. 106.95

 

 

 

Company Information

 

Youngs Food Products was established in 1988 and since then it has been providing food across the globe of excellent taste and quality. In line with its expansion strategy, HBG Holdings, the Dubai-headquartered, consumer products group, recently signed an exclusive distribution deals with the subject company. Young’s Food Products will now be marketed and distributed by HBG, adding a new dimension to HBG’s extensive portfolio of some of the best name brands in the world  including Kraft Foods, Unilever, Kellogg’s, Wrigley, Heinz, Chupa Chups, Hero, California Gardens, Diamond, Sanita, Najjar Coffee. Under the terms of this agreement, HBG will exclusively market and distribute the company’s ‘French’ brand of mayonnaise, chicken and sandwich spreads and honey along with its ‘Shangrila’ brand of exquisite Oriental sauces from the South East and a wide variety of exotic pickles, across the UAE, Oman, Jordan and Qatar.

 

 

Comments

 

Subject Company was established in 1988 and is engaged in manufacture & marketing of Food Products. Directors of the Company are reported as experienced & resourceful businessmen. 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.42.79

UK Pound

1

Rs.85.04

Euro

1

Rs.67.39

 

 

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