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MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FINE FOODS OF
THE WORLD (PRIVATE) LIMITED |
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Registered Office : |
Plot No 2, Jail Road, Gulberg-V, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
0047877 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, Manufacture and Marketing of Food
Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
FINE FOODS OF THE
WORLD (PRIVATE) LIMITED
Full Address
Registered Address
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Plot No 2, Jail Road, Gulberg-V, Lahore, Pakistan |
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Tel |
92 (42) 5711357 - 5 |
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Fax |
92 (42) 5711674 |
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Email |
Short Description Of Business
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Nature of Business |
Engaged in
import, manufacture & marketing of Food Products |
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Year Established |
2004 |
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Registration # |
0047877 |
Branches
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Address |
Suite 21, 4th Floor, Sasi Arcade, Schon Circle,
Clifton, Karachi, Pakistan |
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Tel # |
92 (21) 5375873, 5375874 |
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Fax # |
92 (21) 5370208 |
Factory Location
31 K.M., Ferozepur Road,
Lahore, Pakistan
Auditors
Hassan Naeem & Co.
(Chartered
Accountants)
37-D, Main Gulberg, Lahore, Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 2004
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Authorized Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 10,000/- divided into 1,000 shares of
Rs. 10/- each |
Details of Chief Executive/
Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Yawar Irfan Khan Mr. Muhammad Farrukh Irfan Khan |
Pakistani Pakistani |
Plot No 2, Jail
Road, Gulberg-V, Lahore Plot No 2, Jail
Road, Gulberg-V, Lahore |
Business Business |
Chief Executive Director |
Shareholders
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Names |
No. of Shares |
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Mr. Yawar Irfan Khan Mr. Muhammad Farrukh Irfan Khan |
500 500 |
Associates
A. Subsidiary
None
B. Associated Companies
Irfan Textiles, Pakistan.
Famous Brands (Pvt) Limited, Pakistan.
Irfan Foods (Pvt) Limited, Pakistan.
Jockeys, Pakistan.
Horology
Instruments & Jewellery, Pakistan.
Bagno
Designs, Pakistan.
Products / Services
Engaged in import,
manufacture & marketing of Food Products including Instant Noodles,
Chocolates, Confectionery, Energy Drinks, Concentrated Powder Drink, Growing Up
Milk Powder, Jelly Drinks And Superior Quality Super Basmati And Basmati Rice
Number of Employees
100
Agencies (Foreign)
F & N, SINGAPORE.
PT INDOFOOD, INDONESIA.
BOMBA ENERGIA AUSTRIA.
GENERAL BRANDS, BRAZIL.
SARAY GIDA VE SINAYI, TURKEY.
MAESTRO CHOCOLATES, MALAYSIA.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 - 2007 |
40,000,000/- (Estimated) |
Customers
Mainly in Peshawar, Lahore & Karachi
Bankers
MCB Bank Limited,
Pakistan.
Standard Chartered
Bank, Pakistan.
Faysal Bank Limited,
Pakistan.
Citibank N.A.,
Pakistan.
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 65.70 |
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UK Pound |
1 |
Rs. 130.40 |
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Euro |
1 |
Rs. 102.40 |
Comments
Subject Company was established in 2004 and
is engaged in import, manufacturing & marketing of Food Products. Group
reputation is good in the local businesses. Trade relations are reported as
fair. Company can be considered for normal business dealings at usual trade
terms and conditions
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)