MIRA INFORM REPORT

 

 

Report Date :           

24.08.2011

 

IDENTIFICATION DETAILS

 

Name :

AFTAB COTTON GINNERS

 

 

Registered Office :

Office No. 22 & 26, 3rd Floor, Arkay Square, Shahrah-e-Liaquat, New Challi, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2000

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Import, Export of Cotton Ginning, Commodities, Food Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Concern  

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Business Name

 

AFTAB COTTON GINNERS

 

 

Full Address       

 

Registered Address

Office No. 22 & 26, 3rd Floor, Arkay Square, Shahrah-e-Liaquat, New Challi, Karachi, Pakistan

                       

Tel #

92 (21) 32415061, 32415062

Fax #

92 (21) 32415062

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in Import, Export of Cotton Ginning, Commodities, Food Products

b.

Year Established

2000

 

 

Branches

 

None

 

 

Legal Status

 

Subject Concern  was established as a Proprietorship business in 2000

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Maqbool Shamsi

 

 

 

 

Mr. Sawan Raj

Pakistani

 

 

 

 

 

Pakistani

 

 

 

 

Office No. 22 & 26, 3rd Floor, Arkay Square, Shahrah-e-Liaquat, New Challi, Karachi

 

Office No. 22 & 26, 3rd Floor, Arkay Square, Shahrah-e-Liaquat, New Challi, Karachi

Business

 

 

 

 

 

Business

 

 

 

 

Proprietor

 

 

 

 

 

Manager (Sales)

 

 

 

 

Associated Companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

 

(1) Divine Commodities, Pakistan.

 

 

Business Activities

 

Subject Concern  is engaged in engaged in Import, Export of Cotton Ginning, Commodities and Food Products.

 

Payment would be accepted / made through L/C, D/A basis.

 

Its mainly export to Gulf Countries.

 

It’s mainly import from China, India, Canada, Australia & Singapore.

 

Its’ major customers are Trading Companies, Food Companies, Cotton Industry.

 

Subject operates from caption leased office premises of area measuring 550 Sq.ft. which is situated at commercial area.

 

Subject employs about 5 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

18,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

           

Subject mainly import from Companies belongs to China, India, Canada, Australia & Singapore

 

 

Bankers

 

(1) MCB Bank Limited, Pakistan.

(2) Meezan Bank Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) United Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.55

UK Pound

1

           Rs. 142.20

Euro

1

           Rs. 124.10

 

 

Comments

 

Subject Concern  was established in 2000 and is engaged in import, export of Cotton Ginning, Commodities and Food Products. Market reputation is satisfactory. 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.45.69

UK Pound

1

Rs.75.29

Euro

1

Rs.65.77

 

 

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

----

NB

New Business

----

 

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