MIRA
INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARIF CORPORATION |
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Registered Office : |
E-44/06, Circular Road O/S Dehli Gate, Multan |
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Country : |
Pakistan |
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Year of Establishment : |
1999 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Engaged in Trading of Commodities |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
Business Name
ARIF CORPORATION
Full Address
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Registered
Address |
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E-44/06, Circular Road O/S
Dehli Gate, Multan, Pakistan |
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Tel |
--- |
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Fax |
--- |
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Email |
--- |
Short Description Of Business
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a. |
Nature of
Business |
Engaged in
Trading of Commodities |
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b. |
Year Established |
1999 |
Legal Status
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Subject Company was established as a
Proprietorship business in 1999 |
Details of Proprietor
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Names |
Address |
Occupation |
Designation |
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Mr. Muhammad Arif |
E-44/06,
Circular Road O/S Dehli Gate, Multan, Pakistan |
Business |
Proprietor |
Associates
A. Subsidiary
None
B. Associated
Companies
(1) Muhammad Arif Commission Agent, Pakistan.
Product/Services
Engaged in Trading of Commodities.
Number of Employees
2
Annual Sales Volume (In Pak
Rupees)
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PKR 3,000,000/- (Estimated). |
Agencies (Local and foreign)
Not Disclosed by the Proprietor.
Customers
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Mainly Retailers, Individuals located in
Multan |
Bankers
MCB Bank Limited, Pakistan.
Allied Bank Limited, Pakistan.
Observation Noticed During Our Visit
We visited the shop of the concern where
following observations were made:
(1) Name Board of the
Company could not be sighted at the time of our visit.
(2) The concern’s shop is
very difficult to locate.
(3) Subject is located in a
commercial area.
(4) Items such as Telephones could not be
seen at the concern’s shops.
(5) Subject shop is not
maintained properly.
Subject operates from caption shop premises
of area measuring 600 Sq. fts, which is located in commercial area.
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 81.00 |
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UK Pound |
1 |
Rs. 127.15 |
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Euro |
1 |
Rs. 103.30 |
Comments
Company looks very small sized and it seems that the main business of the
company is trading. From market sources no information is being made available,
as the company has not enough presence in the market. As per our observation,
Company is not very active in the business circle. Trade relations are not
known. Therefore we do not recommend conducting any business activity with the
subject Company.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)