MIRA INFORM REPORT

Report Date :

02.05.2008

IDENTIFICATION DETAILS

Name :	EVEREST BIO-CHEM (PVT) LIMITED

Registered Office :	C-802, City Tower, 6-K Main Boulevard, Gulberg - II, Lahore

Country :	Pakistan

Date of Incorporation :	1993

Com. Reg. No.:	0031335

Legal Form :	Private Limited Company

Line of Business :	Import and Trading of Textile Chemicals, Leather Chemicals, Chemical and Chemical Compounds, Textile Dyestuffs

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

EVEREST BIO-CHEM (PVT) LIMITED

Full Address

Registered Address

C-802, City Tower, 6-K Main Boulevard, Gulberg - II, Lahore, Pakistan

Tel	92 (42) 5770312 - 5 (4 Lines)
Fax	92 (42) 5770317
Email	alka@fascom.com

Short Description Of Business

Nature of Business	Import & trading of Textile Chemicals, Leather Chemicals, Chemical & Chemical Compounds, Textile Dyestuffs
Year Established	1993
Registration #	0031335

Branches

Address	535-A, Peoples Colony, No.1, Faisalabad, Pakistan
Tel #	92 (41) 8722375, 8728009, 8546803, 8724740
Fax #	92 (41) 8722374

Address	F-748 U / V, Near Binoria Restaurant, S.I.T.E., Karachi, Pakistan
Tel #	92 (21) 2587602 - 11 (10 Lines)
Fax #	92 (21) 2587612

Auditors

M/s Ayub & Co.

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1993

Authorized Capital	Rs. 2,000,000/-
Issued & Paid up Capital	Rs. 300/-

Details of Chief Executive / Directors

Names

Nationality

Address

Occupation

Designation

Mr. Sheikh Afaq Ahmad

Mr. Sheikh Akhlaq Ahmad

Mr. Sheikh Anees Ahmad

Pakistani

535-A, Peoples Colony, No.1, Faisalabad

Business

Chief Executive

Director

Shareholders

Names

Mr. Sheikh Afaq Ahmad

Mr. Sheikh Akhlaq Ahmad

Mr. Sheikh Anees Ahmad

Associated Companies

(1) Alka (Private) Limited, Pakistan

Business Activities

Subject Company is engaged in the business as import & trading of Textile Chemicals, Leather Chemicals, Chemical & Chemical Compounds, Textile Dyestuffs.

It purchases against D/A, L/C basis.

It sells against Cash / Credit terms.

It’s mainly import from China, India, Singapore & European Countries.

Its major customers are Textile Companies, Indenters, Trading Companies etc

Subject operates from caption leased office premises which is situated in commercial area.

Subject employs about 20 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006	30,000,000/- (Estimated)

Trade Suppliers (Foreign)

PACIFIC EXPORT CORPORATION, JAPAN.

Bankers

Bank Alfalah Limited, Pakistan.

United Bank Limited, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 65.70
UK Pound	1	Rs. 130.40
Euro	1	Rs. 102.40

Comments

Subject Company was established in 1993 and is engaged in import & trading of Textile Chemicals, Leather Chemicals, Chemical & Chemical Compounds, Textile Dyestuffs. Trade relations are reported as satisfactory. Company 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