MIRA INFORM REPORT

Report Date :

02.04.2011

IDENTIFICATION DETAILS

Name :	INTERNATIONAL DYESTUFF CORPORATION

Registered Office :	M.R 4/49, 1^st Floor, Chemi Centre, Adamjee Dawood Road, Bombay Bazar, Karachi

Country :	Pakistan

Year of Establishment :	1995

Legal Form :	Proprietorship Concern

Line of Business :	Import, Indenting & Trading of Dyes & Chemicals, Textiles Auxiliaries, Textile & Industrial Chemicals

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

INTERNATIONAL DYESTUFF CORPORATION

Full Address

Registered Address

M.R 4/49, 1^st Floor, Chemi Centre, Adamjee Dawood Road, Bombay Bazar, Karachi, Pakistan

Tel #	92 (21) 32410832, 32410833, 32410830
Fax #	92 (21) 32440614, 32414904
Email	chemi@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Import, Indenting & Trading of Dyes & Chemicals, Textiles Auxiliaries, Textile & Industrial Chemicals
b.	Year Established	1995

Branches

In Lahore & Multan

Legal Status

Subject Concern was established as a Proprietorship business in 1995

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Abdul Khaliq

Mr. Abdul Rashid

Pakistani

M.R 4/49, 1^st Floor, Chemi Centre, Adamjee Dawood Road, Bombay Bazar, Karachi

Business

Proprietor

Manager (Import)

Associated Companies

(1) Chhipa Enterprises, Pakistan.

(2) Chemi Colour Trading Company, Pakistan.

Business Activities

Subject Concern is engaged in import, indenting & trading of Dyes & Chemicals, Textiles Auxiliaries, Textile & Industrial Chemicals.

It sells against Cash / Credit terms.

It’s mainly import from European Countries, India, Taiwan, Korea, Thailand & China.

Its major customers are Traders, Textile Companies, Chemical Manufacturers etc.

Subject operates from caption leased office premises of area measuring 1,675 Sq.ft which is situated at main commercial market of Karachi.

Subject employs about 7 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2009	70,000,000/- (Estimated)

Trade Suppliers

(Foreign)

· YORKSHIRE CHEMICALS PLC, UNITED KINGDOM.

· DYSTAR TEXTILEFARBEN GMBH, GERMANY.

· THAI AMBICA CHEMICALS CO. LTD. THAILAND.

· JAY CHEMICAL INDUSTRIES LTD. INDIA.

· ALVA CHEMICAL COMPANY, THAILAND

Bankers

· MCB Bank Limited, Pakistan.

· Habib Metropolitan Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Soneri Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.20
UK Pound	1	Rs. 136.87
Euro	1	Rs. 120.09

Comments

Subject Concern was established in 1995 and is engaged in import, indenting & trading business. Trade relations are reported as fair. Payments to creditors etc are reported as normal. Subject can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.93
Euro	1	Rs.63.24

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	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

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%)

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