MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SABCON CHEMICALS |
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Registered Office : |
1st Floor, Quettawala Building, North Napier Road, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
1988 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import and Trading of Chemicals including
Industrial Chemicals, Food Chemicals, Textile Chemicals, Pharmaceutical Raw
Material |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
SABCON CHEMICALS
Full Address
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Registered
Address |
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1st Floor, Quettawala Building,
North Napier Road, Karachi, Pakistan |
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Tel |
92 (21) 2737276 - 78 (3 Lines) |
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Fax |
92 (21) 2737722 |
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Email |
Short Description Of Business
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Nature of
Business |
Import & Trading of Chemicals including Industrial
Chemicals, Food Chemicals, Textile Chemicals, Pharmaceutical Raw Material |
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Year Established |
1988 |
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National Tax # |
1262104 |
Branches
None
Legal Status
Subject Company was established as a Proprietorship business in 1988
Details of Proprietor
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Saeed Ebrahim |
Pakistani |
1st
Floor, Quettawala Building, North Napier Road, Karachi |
Business |
Proprietor |
Business Activities
Subject Company is engaged in the business as import & trading of Chemicals including Industrial Chemicals, Food Chemicals, Textile Chemicals, Pharmaceutical Raw Material.
It purchases against D/A, L/C basis.
It sells against Credit terms to its local customers.
It’s mainly import from China, India & European Countries.
Its major customers are Chemical Manufacturers, Pharmaceutical Companies, Trading Companies etc
Subject operates from caption leased office premises of area measuring 725 Sq.ft. which is situated in commercial area.
Subject employs about 5 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)
1) COREL PHARMACHEM, INDIA.
2) SAUJANYA DYECHEM, INDIA.
3)
CLARIANT CORPORATION,
U.S.A.
Bankers
1)
Askari
Commercial Bank Limited, Pakistan.
2)
MCB Bank
Limited, Pakistan.
3)
Bank Alfalah
Limited, Pakistan.
4)
Habib Bank
Limited, Pakistan.
Memberships
·
Karachi Chamber of Commerce & Industry.(KCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 77.70 |
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UK Pound |
1 |
Rs. 139.40 |
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Euro |
1 |
Rs. 110.40 |
Comments
Subject Company was established in 1988 and is
engaged in import & trading of
Chemicals. Market reputation is satisfactory. 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.32 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)