MIRA INFORM REPORT

Report Date :

10.10.2008

IDENTIFICATION DETAILS

Name :	AL-SULTAN (PRIVATE) LIMITED

Registered Office :	79-C, Central Commercial Area, Block-2, P.E.C.H.S., Karachi

Country :	Pakistan

Year of Establishment :	1981

Com. Reg. No.:	0008280

Legal Form :	Private Limited Company

Line of Business :	Import / Export & Trading of Textile Raw Materials, Synthetic Products, Earth Moving Equipments, Machineries etc

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

AL-SULTAN (PRIVATE) LIMITED

Full Address

Registered Address
79-C, Central Commercial Area, Block-2, P.E.C.H.S., Karachi, Pakistan
Tel	92 (21) 4550080, 4551032
Fax	92 (21) 4545174
Email	alsull@worldwear.net

Short Description Of Business

a.	Nature of Business	Import / Export & Trading of Textile Raw Materials, Synthetic Products, Earth Moving Equipments, Machineries etc
b.	Year Established	1981
c.	Registration #	0008280

Branches

None

Auditors

Tipu Sultan & Co.

(Chartered Accountants)

33-B, New Queens Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1981

Authorized Capital	Rs. 2,000,000/- divided into 20,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 500,000/- divided into 5,000 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Wasif A. Sultan

Mrs. Safi Naz W. Sultan

Pakistani

Plot No. A-25, 10^th Central Street, Phase II (Extn), D.H.A., Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Wasif A. Sultan

Mrs. Safi Naz W. Sultan

4,200

800

Associates

Subsidiary

None

Associated Companies

- Do -

Business Activities

Subject Company is engaged in the business as import / export & trading of Textile Raw Materials, Synthetic Products, Earth Moving Equipments, Machineries etc.

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

It sells against Cash / Credit terms.

It’s mainly import from European Countries & China.

Its major customers are Engineering Companies, Trading Companies, Textile Mills etc.

Subject operates from caption leased office premises of area measuring 1,200 Sq.ft. which is situated in commercial area.

Subject employs about 8 persons in its set up.

Annual Sales Volume

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

Trade Suppliers (Foreign)

· TURE INTERNATIONAL INDUSTRIAL LIMITED, CHINA.

· V-FLO PUMPS AND SYSTEMS CO. LTD, CHINA.

Bankers

· Bank Alhabib Limited, Pakistan.

· Standard Chartered Bank, Pakistan.

· Faysal Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 79.80
UK Pound	1	Rs. 137.30
Euro	1	Rs. 108.70

Comments

Subject Company was established in 1981 and is engaged in import / export & trading of Textile Raw Materials, Synthetic Products, Earth Moving Equipments, Machineries etc. Market reputation is satisfactory. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.72
UK Pound	1	Rs.82.17
Euro	1	Rs.65.90

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