MIRA INFORM REPORT

Report Date :

24.08.2011

IDENTIFICATION DETAILS

Name :	AIMS HOSIERY (PVT.) LIMITED

Registered Office :	297-M, Model Town (Extn), Lahore

Country :	Pakistan

Year of Establishment :	2005

Com. Reg. No.:	0052894

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Export of Sports Goods & Hosiery Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Pakistan

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

AIMS HOSIERY (PVT.) LIMITED

Full Address

Registered Address

297-M, Model Town (Extn), Lahore, Pakistan

Tel #	92 (42) 35271660, 35273574, +923008430797
Fax #	92 (42) 35273574
Email	amin.807@hotmail.com

Short Description Of Business

a.	Nature of Business	Manufacture & Export of Sports Goods & Hosiery Products
b.	Year Established	2005
c.	Registration #	0052894

Factory Location

18 K.M., Ferozepur Road,

Lahore, Pakistan

Auditors

Azim & Company

(Chartered Accountants)

Flat No. 6, 2^nd Floor, Shahrah-e-Fatima Jinnah, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2005

Authorised Capital	Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 4,000,300/- divided into 40,003 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Ahsan Iqbal Chaudhry

Mr. Muhammad Hammad Nasir

Mr. Chaudhry Munawar Hussain

Pakistani

297-M, Model Town (Extn), Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Ahsan Iqbal Chaudhry

Mr. Zafar Iqbal Chaudhry

Mr. Muhammad Hammad Nasir

Mr. Chaudhry Munawar Hussain

5,001

35,000

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

Subject Company is engaged in the business as Sports Goods & Hosiery Products.

Its mainly import Raw Materials through L/C, D/A, D/P basis.

It sells its product through L/C, D/A basis.

Its main customers are reputable companies, worldwide.

Subject operates from caption leased office premises measuring 1,650 Sq.ft. which is situated at commercial area of Lahore.

Subject employs more than 120 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	150,000,000/- (Estimated)

Production Capactiy

60,000 pieces per month

Customers (Foreign)

Mainly Buying Agencies, Distribution Companies etc

Bankers

(1) Askari Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Bank Alfalah Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

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 Company was established in 2005 and is engaged in manufacture & export of Sports Goods & Hosiery Products. Market reputation is satisfactory. 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.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.