MIRA INFORM REPORT

 

 

Report Date :

20.10.2008

 

 

IDENTIFICATION DETAILS

 

Name :
BETA CHEMICALS (PRIVATE) LIMITED

 

 

Registered Office :

1st Floor, Ali Complex, 23-Empress Road, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1992

 

 

Com. Reg. No.:

0026887   

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import and Trading of Textile Chemicals, Dyes and Pigments, Textile Raw Materials

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

 
BETA CHEMICALS (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address

1st Floor, Ali Complex, 23-Empress Road, Lahore, Pakistan

                       

Tel

92 (42) 6366967, 6303045, 6365579

Fax

92 (42) 6366968

Email

beta@paknet1.ptc.pk

 

 

 

 

 

 

Short Descriptio           n Of Business

 

Nature of Business           

Engaged in Import & Trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials

Year Established

1992

Registration #

0026887   

 

 

Branches

           

In Lahore, Faisalabad, Karachi & Kasur

 

 

Auditors

 

M/s Ahmed Mushir & Co.

(Chartered Accoutants)

16-Bank Square, Lahore, Pakistan

 

 

Legal Status

           

Subject Company was established as a Private Limited Company in 1992

 

 

Authorized Capital

Rs. 50,000,000/- divided into 500,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 20,000,000/- divided into 200,000 shares of Rs. 100/- each

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Rahat Munir

 

 

Mr. Asif Munir

 

 

Mr. M. Saeed

 

 

Mr. Sohaib Munir

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

153-Ravi Park, Ravi Road, Lahore

 

153-Ravi Park, Ravi Road, Lahore

 

153-Ravi Park, Ravi Road, Lahore

 

153-Ravi Park, Ravi Road, Lahore

Business

 

 

Business

 

 

Business

 

 

Business

 

Chief Executive

 

Director

 

 

Director

 

 

Director

 

 

 

Shareholders                

 

Names

 

Mr. Rahat Munir

 

Mr. Asif Munir

 

Mr. Mohammad Saeed

 

Mr. Sohaib Munir

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

               None                                                                     

           

B.         Associated Companies

 

(1) Beta Trading, Pakistan.

(2) Wahdat Trading Corporation, Pakistan.

(3) Al Saeed Traders, Pakistan.

 

 

Business Activities

 

(1) Subject Company is engaged in import & trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials.

 

(2) It purchases against L/C, D/A basis.

 

(3) Its mainly import from China, India, Thailand, Malaysia, Korea & Europe.

 

(4) Its major customers are Traders, Garment Manufacturers, Textile Mills located in major cities of Pakistan.

 

(5) Subject employs about 19 persons in its set up.

 

Annual Sales Volume

 

Year

In Pak Rupees

2006

100,000,000/- (Estimated)

 

Trade Suppliers (Foreign)

           

(1) MOMENTIVE PERFORMANCE MATERIALS INC, BELGIUM.

(2) CAPPELLE PIGMENTS N.V., BELGIUM.

(3) SASOL GMBH, GERMANY.

 

 

Customers (Local)

           

(1) Sapphire Textile Mills Ltd, Pakistan.
(2) Tata Textile Mills Ltd, Pakistan.
(3) Gulistan Textile Mills Ltd, Pakistan.
(4) Indus Dyeing and Manufacturing Company Ltd, Pakistan.
(5) Ihsan Cotton Products (Pvt.) Ltd, Pakistan.
(6) Riaz Textile Mills (Pvt.) Ltd, Pakistan.
(7) Khas Textile Mills (Pvt.) Ltd, Pakistan.
(8) Fazal Cloth Mills Ltd, Pakistan.
(9) Mahmood Textile Mills Ltd, Pakistan.
(10) Din Textile Mills Ltd, Pakistan.

 

 

Bankers

 

  1. PICIC Commercial Bank Limited, Pakistan.
  2. Bank Alfalah Limited, Pakistan.
  3. Standard Chartered Bank, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce and Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 85.00

UK Pound

1

            Rs. 147.20

Euro

1

            Rs. 114.00

 

 

Comments

 

Subject Company was established in 1992 and is engaged in import & trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials. Market reputation is good. 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.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

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