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MIRA INFORM REPORT

 

 

Report Date :            

15.04.2011

 

IDENTIFICATION DETAILS

 

Name :

PERFORMANCE AUTOMOTIVE (PVT.) LIMITED

 

 

Registered Office :

24-D, Al-Faisal Town, Bahadurshah Road, Lahore Cantt, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

2007

 

 

Com. Reg. No.:

0063564

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import & Trading of Automotive Parts & Accessories, Automobiles

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                                   

Business Name

 

PERFORMANCE AUTOMOTIVE (PVT.) LIMITED

 

 

Full Address       

 

Registered Address

24-D, Al-Faisal Town, Bahadurshah Road, Lahore Cantt, Lahore, Pakistan

                       

Tel #

92 (42) 111-777-911, 36632852, 38731911, 38733911

Fax #

92 (42) 36632852

 

 

Short Description Of Business

 

a.

Nature of Business       

Import & Trading of Automotive Parts & Accessories, Automobiles

b.

Year Established

2007

c.

Registration #

0063564

 

 

Branches

           

Address

100, H Model Town, Lahore, Pakistan

Tel #

92 (42) 35842298, 35854974

Fax #

92 (42) 35886897

 

           

Legal Advisor

           

Rao & Co.

(Chartered Accountants)

211, 2nd Floor, Eden Towers, Main Boulevard, Gulberg III, Lahore, Pakistan

 

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 2007

 

 

 

Authorized Capital    

Rs. 100,000,000/-  divided into 1,000,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 50,000,000/- divided into 500,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Address

Occupation

Designation

Mr. Mohammad Khalid Javaid Chowdhry

 

 

 

Mrs. Naureen Khalid

 

 

 

 

Mr. Naveed Khalid Chowdhry

24-D, Al-Faisal Town, Bahadurshah Road, Lahore Cantt, Lahore

 

24-D, Al-Faisal Town, Bahadurshah Road, Lahore Cantt, Lahore

 

24-D, Al-Faisal Town, Bahadurshah Road, Lahore Cantt, Lahore

Business

 

 

 

 

Business

 

 

 

 

Business

Chief Executive

 

 

 

 

Director

 

 

 

 

Director

 

 

Shareholders

 

Names

No. of Shares

Mr. Mohammad Khalid Javaid Chowdhry

 

Mrs. Naureen Khalid

 

Mr. Naveed Khalid Chowdhry

300,000

 

 

125,000

 

75,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                             

           

 

B.         Associated Companies

 

            - Do -

 

 

 

Business Activities

 

Subject Company is engaged in the business as import & trading of Automotive Parts & Accessories, Automobiles.

 

It purchases raw materials against D/A, D/P basis.

 

It sells against cash terms to its local customers.

 

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

 

Its’ major customers are Automotive Manufacturers, Trading Companies, Private Companies etc

 

Subject operates from caption leased office premises situated at commercial area of Lahore.

 

Subject employs about 10 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

60,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

 

Subject mainly import from Companies belongs to Japan, European Countries, China, Taiwan & Korea

 

 

Bankers

 

·         Habib Bank Limited, Pakistan.

·         Bank Alfalah Limited, Pakistan.

·         Askari Bank Limited, Pakistan.

·         Standard Chartered Bank, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

·         Pak German Business Forum.(PGBF)

 

 

 

Foreign Exchange Rates

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 84.40

UK Pound

1

          Rs. 136.79 

Euro

1

          Rs. 121.02

 

 

 

 

 

 

 

Comments

 

Subject Company was established in 2007 and is engaged in import & trading of Automotive Parts & Accessories, Automobiles. Directors are reported as experienced businessmen. Trade relations are reported as fair. 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.44.48

UK Pound

1

Rs.72.37

Euro

1

Rs.64.42

 

 

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%)

 

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.