MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
H.K. TRADERS |
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Registered Office : |
310-B, Shalimar Centre, New Challi, |
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Country : |
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Date of Incorporation : |
1987 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import / Export andTrading of all types of
Commodities |
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
H.K. TRADERS
Full Address
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Registered
Address |
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310-B, Shalimar Centre, New Challi, Karachi, Pakistan |
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Tel |
92 (21) 2430153,
2430154 |
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Fax |
92 (21) 2431366 |
Short Description Of Business
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Nature of
Business |
Import / Export & Trading of all types
of Commodities |
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Year Established |
1987 |
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National Tax # |
0670425 |
Branches
None
Legal Status
Subject Company was established as a Proprietorship business in 1987
Details of Proprietor
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammed Iqbal |
Pakistani |
310-B, Shalimar Centre, New Challi, Karachi, Pakistan |
Business |
Proprietor |
Business Activities
Subject Company is engaged in the business as import / export & trading of all types of Commodities.
It purchases against D/A basis.
It sells against Cash / Credit terms.
It’s mainly import from China, India, New Zealand, Australia, Canada and Burma.
Its major customers are Traders, Retailers etc.
Subject operates from caption leased office premises of area measuring 600 Sq.ft. which is situated in commercial area.
Subject employs about 4 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
30,000,000/- (Estimated) |
Trade Suppliers (Foreign)
Various International belongs to China, India, Australia & Canada
Bankers
- MCB Bank Limited, Pakistan.
- Meezan Bank Limited, Pakistan.
- Bank Alhabib Limited, Pakistan.
Memberships
·
Karachi Chamber of Commerce & Industry.(KCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 82.75 |
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UK Pound |
1 |
Rs. 133.00 |
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Euro |
1 |
Rs. 106.00 |
Comments
Subject Company was established in 1987 and
is engaged in import / export &
trading of all types of Commodities. Market reputation is satisfactory. Trade
relations are reported as fair. Subject can be considered for normal business
dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.95 |
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UK Pound |
1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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%)