MIRA INFORM REPORT

Report Date :

15.09.2008

IDENTIFICATION DETAILS

Name :	AL-QURAISH BOARD MILL (PVT) LIMITED

Registered Office :	Plot # 70, Industrial Estate, Kot Lakhpat, Lahore

Country :	Pakistan

Date of Incorporation :	1981

Com. Reg. No.:	0008578

Legal Form :	Private Limited Company

Line of Business :	Specializing in the Production of Natural and Colored Kraft Paper

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 :	Regular

Litigation :	Clear

Business Name

AL-QURAISH BOARD MILL (PVT) LIMITED

Full Address

Registered Address

Plot # 70, Industrial Estate, Kot Lakhpat, Lahore, Pakistan

Tel	92 (42) 5151573, 5125875
Fax	92 (42) 6671418
Email	ammad@bahoo.net

Short Description Of Business

Nature of Business	Specializing in the production of natural and colored Kraft Paper
Year Established	1981
Registration #	0008578

Head Office

Hall # 14, 2nd Floor, Fortress Stadium,

Lahore Cantt, Lahore,

Pakistan

Auditors

Inaam Ul Haq & Co.

(Chartered Accountants)

33-A, Behind Queens Centre, Shahrah-e-Fatima Jinnah, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1981

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

Details of Chief Executive / Directors

Names

Designation

Dr. Shaukat Mahmood

Mr. Sheraz Shaukat

Mrs. Rukhsana Shaukat

Mr. Salman Shaukat

Mr. Faraz Shaukat

Chief Executive

Director

Shareholders

Names

Dr. Shaukat Mahmood

Mr. Sheraz Shaukat

Mrs. Rukhsana Shaukat

Mr. Salman Shaukat

Mr. Faraz Shaukat

Associated Companies

(1) Al Quraish Pet Bottles, Pakistan.

(2) Al Quraish Paper Industries, Pakistan.

Business Activities

Subject Company is Specializing in the production of natural and colored Kraft Paper.

It purchases against D/A basis.

It sells against Cash terms.

It’s mainly import from U.A.E., U.S.A. & European Countries.

Its major customers are Distributors, Trading Companies etc

Subject operates from caption leased offices premises which are situated in commercial area.

Subject employs about 160 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2006	200,000,000/- (Estimated)

Trade Suppliers (Foreign)

HUMA INTERNATIONAL CO. LLC, U.A.E.
CRYSTAL RECYCLING LIMITED, U.K.

Bankers

Askari Commercial Bank Limited, Pakistan.
Habib Metropolitan Bank Limited, Pakistan.
Standard Chartered Bank, Pakistan.
Faysal Bank Limited, Pakistan.

Memberships

Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 76.40
UK Pound	1	Rs. 136.80
Euro	1	Rs. 108.40

Comments

Subject is a well-established company having satisfactory track. Directors are reported as qualified, experienced and resourceful businessmen. Trade relations are reported as fair. Payments are usually correct and as per commitments. 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.45.94
UK Pound	1	Rs.82.84
Euro	1	Rs.65.95

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