MIRA
INFORM REPORT
|
Report Date : |
17.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HAROON ABDUL
SATTAR |
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Registered Office : |
M.R. 5/85, Daryalal Street, Jodia Bazar, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
1972 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import, Export and Trading of Food Products
and Commodities including Rice, Spices, Pulses |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
HAROON ABDUL
SATTAR
Full Address
|
Registered
Address |
|
M.R. 5/85, Daryalal Street, Jodia Bazar,
Karachi, Pakistan |
|
Tel |
92 (21) 2442894, 2442017, 2441942, +923218224248 |
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Fax |
92 (21) 2414689 |
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Email |
Short Description Of Business
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Nature of Business |
Import, Export & Trading of Food Products & Commodities
including Rice, Spices, Pulses |
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Year Established |
1972 |
|
National Tax # |
2042931 |
Branches
M.R. 5/94, Virjee Street,
Jodia Bazar, Karachi,
Pakistan
Legal Status
Subject Company was established as a Proprietorship business in 1972
Details of Management
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Haroon Mr. Omair Haroon |
Pakistani Pakistani |
M.R. 5/85,
Daryalal Street, Jodia Bazar, Karachi, Pakistan M.R. 5/85,
Daryalal Street, Jodia Bazar, Karachi, Pakistan |
Business Business |
Proprietor Manager (Import) |
Business Activities
Subject Company is engaged in the business as import, export & trading of Food Products & Commodities including Rice, Spices & Pulses.
Payments would be accepted / made through L/C basis.
It sells locally on Cash / Credit terms.
It’s mainly import from China, India, Australia, Canada, Burma, Vietnam, Ukraine.
Its major customers are Food Companies, Indenters, Traders etc
Subject operates from caption leased shop premises of area measuring 800 Sq.ft. which is situated in commercial area.
Subject employs about 50 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
100,000,000/- (Estimated) |
Trade Suppliers (Foreign)
Various international belongs to China & India
Bankers
- Bank Alhabib Limited, Pakistan.
- Bank Alfalah Limited, Pakistan.
- Meezan Bank Limited, Pakistan.
- Soneri Bank Limited, Pakistan.
Memberships
·
Karachi Chamber of Commerce & Industry.(KCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 76.80 |
|
UK Pound |
1 |
Rs. 136.50 |
|
Euro |
1 |
Rs. 108.70 |
Company Profile
M/S Haroon Abdul
Sattar (HAS) was founded by Mr. Haroon
Abdul Sattar in 1969. The name of the firm was based on the goodwill and
reputation Mr. Haroon had earned initially dealing as a commodity trader and
speculator. Initially, HAS had a
swift start with imports of commodities such as spices, cloves, cardamom,
beetle nuts, cashew nuts, cassia and rubber to cater local market. Since 1980s,
HAS owns major stakes in the local industry and is considered highly renowned
and reputed for its quality products and commitments, HAS has now turned into one of the leading commodity trading houses of Pakistan.
Comments
Subject Company was established in 1972 and
is engaged in import, export &
trading of Food Products & Commodities including Rice, Spices & Pulses.
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.46.71 |
|
UK Pound |
1 |
Rs.83.57 |
|
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 |
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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 |
|
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 |
|
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 |
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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%)