MIRA INFORM REPORT

Report Date :

10.12.2011

IDENTIFICATION DETAILS

Name :	VENUS PAKISTAN (PVT) LIMITED

Registered Office :	9/1, K-28, Trans Lyari, Hawksbay Road, Mauripur, Karachi

Country :	Pakistan

Date of Incorporation :	1998

Com. Reg. No.:	0039466

Legal Form :	Private Limited Company

Line of Business :	Subject is engaged in Logistic Support and caters to multinational and local companies

No. of Employees :	100 persons

RATING & COMMENTS

MIRA’s Rating :

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

VENUS PAKISTAN (PVT) LIMITED

Full Address

Registered Address

9/1, K-28, Trans Lyari, Hawksbay Road, Mauripur, Karachi, Pakistan

Tel #	92 (21) 111-836-871
Fax #	92 (21) 32350328

Short Description Of Business

a.	Nature of Business	The company specializes in logistic support and caters to multinational and local companies
b.	Year Established	1998
c.	Registration #	0039466

Branches

In Karachi at present

Auditors

Maqsood & Co.

(Chartered Accountants)

C-208, National Auto Plaza, Marston Road, Karachi, Pakistan

Legal Status

Subject Company was incorporated as a Private Limited Company in 1998

Authorized Capital	Rs. 150,000,000/- divided into 1,500,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 97,000,000/- divided into 970,000 shares of Rs. 100/- each

Details of Directors

Names

Designation

Mr. Adnan Asad

Mrs. Anjum Asad

Chief Executive

Director

Shareholders

Names of Shareholders

No. of Shares

Mr. Adnan Asad

Mrs. Anjum Asad

Venus U.S.A. Inc, U.S.A.

189,000

81,000

700,000

Associated Companies

(1) Venus Agri Farms, Pakistan.

(2) Venus Promotions, Pakistan.

(3) Venus Cold Storage, Pakistan.

(4) Venus Reefer Express, Pakistan.

(5) Venus Ice, Pakistan.

(6) Venus Carlton, Pakistan.

(7) Protector Security Services (Pvt) Limited, Pakistan.

(8) Saif Venus Communications (Pvt) Ltd, Pakistan.

Business Activities

The company specializes in logistic support and caters to multinational and local companies of high repute.

Number of Employees

100

Annual Sales Volume

Year	In Pak Rupees
2009	200,000,000/- (Estimated)

Clientele

Main Clients are McDonald’s International, Nike, Nestle, Coca Cola, Reckitt Benkiser, Rafhan Best foods, Packages, Guard Rice, Lamb Weston, Dilmah Tea, and Continental Biscuits.

Bankers

· Silk Bank Limited, Pakistan.

· National Bank of Pakistan.

· Habib Bank Limited, Pakistan.

· Faysal Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 88.80
UK Pound	1	Rs. 138.50
Euro	1	Rs. 118.50

Comments

Subject Company was established in 1998. The Company specializes in logistic support and caters to multinational and local companies. 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.52.23
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

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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