MIRA INFORM REPORT

 

 

Report Date :

25.08.2011

 

IDENTIFICATION DETAILS

 

Name :

INTER MARKET KNIT (PVT) LIMITED

 

 

Registered Office :

120-S, Industrial Area, Kot Lakhpat, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1999

 

 

Com. Reg. No.:

004014

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Export of Garments  / Hosiery 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 :

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

 

                                                                                   

Business Name

 

INTER MARKET KNIT (PVT) LIMITED

 

 

Full Address       

 

Registered Address & Factory

120-S, Industrial Area, Kot Lakhpat, Lahore, Pakistan

                       

Tel #

92 (42) 35121457, 35121458

Fax #

92 (42) 35121458

 

 

Short Description Of Business

 

Nature of Business        

Manufacture & Export of Garments  / Hosiery Products

Year Established

1999

Registration #

0040141

 

 

Branches

 

In Karachi at present

 

 

Auditors

 

Azhar Zafar & Co.

(Chartered Accountants)

Attiya Building, First Floor, Bank Square, Lahore, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1999

 

Authorised Capital           

Rs. 600,000,000/- divided into 60,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 45,000,000/- divided into 4,500,000 shares of Rs. 10/- each

Details of Directors

 

Names

Designation

Mr. Abdul Hanif Khan

 

Mr. Ahmed Haleem Khan

 

Mr. Assad Ali Lodhi

 

Mr. M. Naveed Ikram Khan 

Chief Executive

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Abdul Hanif Khan

 

Mr. Ahmed Haleem Khan

 

Mr. Assad Ali Lodhi

 

Mr. M. Naveed Ikram Khan

 

Mr. Ikram Khan

 

Mr. M. Shahzad Khan

675,000

 

2,250,000

 

450,000

 

150,000

 

700,000

 

275,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

             None                                            

           

B.         Associated Companies

 

(1) Khakan Enterprises, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in the business as manufacture & Export of Garments  / Hosiery Products.

 

Its mainly import Textile Raw Materials, Textile Machineries through L/C, T.T. basis.

 

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

Its main customers are reputable companies, worldwide.

 

Subject operates from caption leased factory premises situated at industrial area of Lahore.

 

Subject employs more than 200 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

350,000,000/- (Estimated)

 

 

Production Capactiy

 

250,000 Garments per month

           

 

Customers (Foreign)

           

(1) GAP.

(2) TOMMY HILFIGER.

(3) VF CORPORATION.

(4) SEARS.

(5) RUSSELL ATHLETICS.

(6) AMERICAN EAGLE OUTFITTERS.

(7) JCPENNEY.

(8) LEE SPORTSWEAR.

(9) PHILLIPS VAN HEUSEN.

 

 

Bankers

 

(1) NIB Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

(4) Standard Chartered Bank, Pakistan.

(5) Faysal Bank Limited, Pakistan.

(6) Bank Alfalah Limited, Pakistan.

 

 

 

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.

·         All Pakistan Hosiery Manufacturer & Exporters Association.

 

 

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 1999 and is engaged in manufacture & export of Garments / Hosiery Products. Market reputation is good. 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.45.77

UK Pound

1

Rs.75.57

Euro

1

Rs.65.97

 

 

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%)

 

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.