MIRA
INFORM REPORT
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Report Date : |
26.11.2008 |
IDENTIFICATION DETAILS
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Name : |
HUMAIRA FABRICS |
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Registered Office : |
Room # 37, 1st |
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Country : |
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Date of Incorporation : |
2004 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Trading of Yarn and Textile Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
HUMAIRA FABRICS
Full Address
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Registered
Address |
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Room # 37, 1st |
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Tel |
+923222809773 |
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Fax |
92 (21) 5206813 |
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Email |
Short Description Of Business
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Nature of Business |
Engaged in Trading
of Yarn & Textile Products |
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Year Established |
2004 |
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National Tax No. |
3221126 |
Legal Status
Subject Company was established as a
Proprietorship business in 2004
Details of Management
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Names |
Address |
Occupation |
Designation |
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Mr. Fazal Wahid Mr. Rayhan.Malick |
Room # 37, 1st Floor Super Shopping
Center, Allah Wala Market, M.A Jinnah Road, Room # 37, 1st Floor Super Shopping
Center, Allah Wala Market, M.A Jinnah Road, |
Business Service |
Proprietor Manager (Import) |
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Product/Services
Engaged in Trading
of Yarn & Textile Products
Number of Employees
1
Annual Sales Volume (In Pak
Rupees)
PKR 2,000,000/- (Estimated).
Agencies (Local and foreign)
Not Disclosed by the Proprietor
Customers
Mainly Retailers, Individuals located in
Bankers
NIB Bank
Limited,
Observation Noticed During Our Visit
We visited the premises 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 office is
very difficult to locate.
(3) Subject is located in a
commercial area at
(4) Items such as Telephones could not be
seen at the concern’s shops.
(5) Some reliable sources clarified that
Subject Company is engaged in fraud activities and warned us not to conduct any
kind of business dealings with this Company.
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 78.00 |
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1 |
Rs. 117.00 |
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Euro |
1 |
Rs. 99.40 |
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. Bank informed
us that Company is engaged in fraud activities and warned us not to conduct any
business dealings with this Company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
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%)