MIRA INFORM REPORT

 

 

Report Date :

18.03.2008

 

IDENTIFICATION DETAILS

 

Name :

SKYLITE CORPORATION

 

 

Registered Office :

79, Shoumail Arcade 279-E Sindhi Muslim Housing Society, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

2000

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import of Ceramic Tiles, Porcelain Tiles, Sanitary Products and Chemicals

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

 

 

                                   

Business Name

 

SKYLITE CORPORATION

 

 

Full Address       

 

Registered Address

79, Shoumail Arcade 279-E Sindhi Muslim Housing Society, Karachi, Pakistan.

                       

Tel

92 (306) 2224166

Fax

92 (306) 2224166

Email

skylitecorp@hotmail.com

 

 

 

Short Description Of Business

Nature of Business           

Import of Ceramic Tiles, Porcelain Tiles,

Sanitary Products and Chemicals

Year Established

2000

National Tax #

2865825

 

 

 

 

 

 

 

Branches

 

In Lahore & Sarghoda

 

 

Legal Status

 

Subject Company was established as a Proprietorship Business in 2000

 

 

Details of Proprietor

 

Names

Nationality

Address

Occupation

Designation

Mr. Nasir Ahmed

 

Pakistani

 

 

79, Shoumail Arcade 279-E Sindhi Muslim Housing Society, Karachi

Business

Proprietor

 

 

 

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                                                        

           

B.         Associated Companies

 

D.S. Dodhiwala and Co, Pakistan

Galaxy Ceramics, Pakistan.

Premier Corporation, Pakistan

Kainat International, Pakistan.

 

 

Import of

 

Import of Ceramic Tiles, Porcelain Tiles, Sanitary Products and Chemicals

 

 

Number of Employees 

 

3

 

 

 

Trade Suppliers (Foreign)

 

(1) Hispania Ceramica, Spain.

(2) Reaolnad S.A Spain.

 

 

Customers

 

Mainly Contractors, Retailers, Brokers etc

 

 

Bankers

 

(1) Standard Chartered Bank, Pakistan.

(2) J.S. Bank Limited, Pakistan.

(3) ABN AMRO Bank, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 62.90

UK Pound

1

            Rs.126.75

Euro

1

            Rs. 98.35

           

 

 

Observations & Comments

 

We have completely checked and found that subject group is not well known in the local businesses. Further we have discussed with the owner and he clarified that business transaction has been done through credit basis (on 90 days). Kindly do not rely on credit basis and insist him to be paid on L/C basis.


 

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