MIRA INFORM REPORT

 

 

Report Date :           

24.08.2011

 

IDENTIFICATION DETAILS

 

Name :

YAQOOT OIL PROCESSING & EXTRACTING MILLS (PVT) LIMITED

 

 

Registered Office :

Plot No. 7/2, Phase I & II, Industrial Estate, Hattar

 

 

Country :

Pakistan

 

 

Year of Establishment :

2007

 

 

Com. Reg. No.:

0060962

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

manufacture & marketing of Vanaspati Ghee & Cooking Oil

 

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 :

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 – 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

 

YAQOOT OIL PROCESSING & EXTRACTING MILLS (PVT) LIMITED

 

 

Full Address

 

Registered Address & Plant

Plot No. 7/2, Phase I & II, Industrial Estate, Hattar, Pakistan

                       

Tel #

92 (51) 4430237, 4430238

Fax #

92 (51) 4433043

 

 

Short Description

 

a.

Nature of Business        

Engaged in manufacture & marketing of Vanaspati Ghee & Cooking Oil

b.

Year Established

2007

c.

Registration #

0060962

 

 

Branches

 

113, 1st Floor, J.J. Centre Darayalal

Street, Jodia Bazar, Karachi,

Pakistan

 

 

Auditors

 

Muhammad Iqbal & Co.

(Chartered Accountants)

Room No. 16, 1st Floor, Sadiq Plaza, The Mall, Lahore, Pakistan

 

 

legal Status            

 

Subject Company was established as a Private Limited Company in 2007

 

 

 

Authorized Capital

 

Rs. 50,000,000/- divided into 500,000 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

Designation

Mr. Atif Ikram Sheikh

 

Mr. Khurram Ikram Sheikh

 

Mst. Yaqoot Malik

 

Mr. Sheikh Zeeshan Suleman

 

Mr. Asif Saeed Sheikh

 

Mr. Tariq Saeed Sheikh

 

Mr. Bakhat Ali Shah

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders

 

Names

No of Shares

Mr. Atif Ikram Sheikh

 

Mr. Khurram Ikram Sheikh

 

Mst. Yaqoot Malik

 

Mr. Sheikh Zeeshan Suleman

 

Mr. Asif Saeed Sheikh

 

Mr. Tariq Saeed Sheikh

 

Mr. Bakhat Ali Shah

 

Mr. Iftikhar

 

Mr. Nadeem Qamar

75,000

 

50,000

 

50,000

 

25,000

 

62,500

 

62,500

 

125,000

 

25,000

 

25,000

 

 

 

Business Activities

 

Engaged in manufacture & marketing of Vanaspati Ghee & Cooking Oil

 

 

Associates     

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

A.         Subsidiary

 

None

 

 

B.         Associated Companies                  

 

(1) Mujahid Soap & Chemicals Industries (Pvt) Limited, Pakistan.

(2) Hafeez Iqbal Oil & Ghee Industries (Pvt) Limited, Pakistan.

(3) Zakariya Enterprises (Pvt) Limited, Pakistan.

(4) Atif Edible Oil Industries, Pakistan.

(5) Adeel Hamza Oil Industries (Pvt) Limited, Pakistan.

(6) Transtech Limited, Pakistan.

(7) Khyber Steels, Pakistan.

(8) Mujahid Enterprises, Pakistan.

(9) Crystal Board Mills (Pvt) Limited, Pakistan.

(10) Mujahid Filling Station, Pakistan.

 

 

Actual Production Volume        

 

80 Tons / day for Ghee and Cooking Oil Manufacturing

 

 

Number of Employees

 

110

 

           

 

Annual Sales Volume        

           

Year

In Pak Rupees

2009

2,151,758,182/-

 

 

 

Trade Suppliers (Foreign)

 

(1) MEWAH OILS SDN BHD, MALAYSIA.

(2) M/S IOI EDIBLE OIL SDN BHD, MALAYSIA.

 

 

Distributors

 

Mainly exist at major cities of Pakistan

 

 

Bankers

 

(1)    Bank Al-Habib Limited, Pakistan.

 

 

Memberships

 

·         Rawalpindi Chamber of Commerce & Industry.(RCCI)

 

   

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 1990 and is engaged in manufacture & marketing of Vanaspati Ghee & Cooking Oil. Overall 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.