MIRA INFORM REPORT

 

 

Report Date :

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ARFEEN INTERNATIONAL (PVT) LIMITED

 

 

Registered Office :

3rd Floor Tower 'A', The Word Centre, 10 Khayaban-e-Roomi, Block 5, Clifton Karachi,

 

 

Country :

Pakistan

 

 

Year of Establishment :

1977

 

 

Com. Reg. No.:

0005599

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in Import, Indenting & Distribution of Pharmaceutical Raw Materials, Petro Chemicals, Industrial Chemicals

 

 

No. of Employees :

40

 

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 :

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

 

ARFEEN INTERNATIONAL (PVT) LIMITED

 

 

Full Address       

 

Registered Address

3rd Floor Tower 'A', The Word Centre, 10 Khayaban-e-Roomi, Block 5, Clifton

Karachi, Pakistan

                       

Tel #

92 (21) 35872161 - 63, 35872783, 35872784, 35863826

Fax #

92 (21) 35877804

Email

arfint@super.net.pk,

sa@super.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in Import, Indenting & Distribution of Pharmaceutical Raw Materials, Petro Chemicals, Industrial Chemicals

b.

Year Established

1977

c.

Registration #

0005599

 

 

Branches

 

            (1) 25-A, Davis Road, Lahore, Pakistan.

 

(2) Civil Lines 6/4, Abdullah Haroon Road, Karachi, Pakistan.

 

 

Auditors

 

M/s Feroze Sharif Tariq & Co.

(Chartered Accountants)

4/N/4, Block-6, P.E.C.H.S., Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1977

 

Authorized Capital

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

Issued & Paid up Capital

Rs. 49,396,000/- divided into 493,960/- shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Sultan Ul Arfeen

 

Mr. Shahid Firoz

Pakistani

 

 

Pakistani

 

36-Q, Block - 6, P.E.C.H.S., Karachi

 

36-Q, Block - 6, P.E.C.H.S., Karachi

Business

 

 

Business

 

Chief Executive

 

 

Director

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Sultan Ul Arfeen

 

Mrs. Saadia Firoz

 

Mr. Khalid Feroz

 

Mr. Shahid Firoz

 

Mr. Javaid Firoz

 

Mr. Rizwan Firoz

151,872

 

200

 

100,064

 

117,536

 

100,064

 

24,224

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                            

           

B.         Associated Companies

 

            - Do -

 

 

 

Products

 

Engaged in Import, Indenting & Distribution of Pharmaceutical Raw Materials, Petro Chemicals, Industrial Chemicals

 

           

Number of Employees

 

40

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

150,000,000/- (Estimated)

 

 

Importing Countries

 

 Import of Pharmaceutical Raw Materials from European Countries, India, Korea, Taiwan & China     

 

 

Trade Suppliers (Foreign)

 

(1) CONTRACT CHEMICALS LTD, U.K.

(2) BOROUGE, U.A.E.

(3) ASIA CELLULAR SATELLITE SINGAPORE PTE. LTD, SINGAPORE.

(4) KRUPP MAK MASCHINENBAU GMBH, GERMANY.

(5) RAVENSBERG GMBH, GERMANY.

(6) CHEMISCHE FABRIK LEHRTE GMBH, GERMANY

 

 

Bankers

 

(1)     Habib Bank Limited, Pakistan.

(2)     Standard Chartered Bank, Pakistan.

(3)     Faysal Bank Limited, Pakistan.

(4)     Bank Al-Habib Limited, Pakistan.

(5)     Bank Alfalah Limited, Pakistan.

(6)     Soneri Bank Limited, Pakistan.

 

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 87.75

UK Pound

1

           Rs. 135.50

Euro

1

           Rs. 115.80

 

 

Comments

 

Subject Company enjoys good reputation in Pakistan. Directors are reported as qualified, resourceful & experienced businessmen. Trade relations are reported as fair. 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.52.16

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

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.