MIRA INFORM REPORT

Report Date :

08.09.2008

IDENTIFICATION DETAILS

Name :	HYEWORTH RENAULT PETERSEN PAKISTAN (PVT) LIMITED

Registered Office :	40-G-1, Block-6, P.E.C.H.S., Karachi

Country :	Pakistan

Date of Incorporation :	1997

Com. Reg. No.:	0049361

Legal Form :	Proprietorship

Line of Business :	Marketing and Distribution of Fast Moving Products

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

HYEWORTH RENAULT PETERSEN PAKISTAN (PVT) LIMITED

Full Address

Registered Address

40-G-1, Block-6, P.E.C.H.S., Karachi, Pakistan

Tel	92 (21) 111-312-312
Fax	92 (21) 4538198

Short Description Of Business

Nature of Business	Engaged in marketing and distribution of Fast Moving Products
Year Established	1997
Registration #	0049361

Branches

In Karachi, Lahore, Islamabad, Faisalabad, Multan, Peshawar & Hyderabad

Auditors

M. Sikandar & Co.

(Chartered Accountants)

5/19, Arkay Square (Extn), Shahrah-e-Liaquat, New Challi, Karachi, Pakistan

Legal Status

Subject Company was established as Proprietorship business in 1997. In 2005 it was converted to Private Limited Company

Authorized Capital	Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 1,000,000/- divided into 10,000 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Abdul Hye Asaf

Mrs. Maham Batool Asaf

Miss Nabila Bano Asaf

Pakistani

67-68, Lalazar, M.T. Khan Road, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Abdul Hye Asaf

Mrs. Maham Batool Asaf

Miss Nabila Bano Asaf

7,500

1,000

1,500

Associates

A. Subsidiary

None

B. Associated Companies

M/S Fire Storm, Pakistan.

Business Activities

Subject Company is engaged in the business as marketing and distribution of Fast Moving Products.

It sells against Cash terms.

It’s mainly import from China, India, Canada, Australia.

Its major clientele are Consumer Products Manufacturers, Food Companies, Multinational Companies etc.

Subject operates from caption leased office premises of area measuring 500 Sq.Yds which is situated in residential +commercial area.

Subject employs about 70 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006 - 2007	100,000,000/- (Estimated)

Trade Suppliers (Foreign)

Various international belongs to China, India, Canada, Australia

Bankers

1) Faysal Bank Limited, Pakistan.

2) Habib Bank Limited, Pakistan.

3) Standard Chartered Bank, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 75.80
UK Pound	1	Rs. 134.40
Euro	1	Rs. 108.50

Comments

Subject Company was established in 1997 and is engaged in marketing and distribution of Fast Moving Products. Overall reputation is normal. 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.44.26
UK Pound	1	Rs.79.00
Euro	1	Rs.63.53

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