MIRA
INFORM REPORT
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Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
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Name : |
MUSTEHKAM STEEL INDUSTRIES |
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Registered Office : |
Plot No. 13/1, Phase III, Industrial Estate, Hattar District, Haripur |
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Country : |
Pakistan |
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Year of Establishment : |
1997 |
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Legal Form : |
Partnership |
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Line of Business : |
Manufacture of Steel Products |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Business Name
MUSTEHKAM
STEEL INDUSTRIES
Full Address
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Registered Address & Factory |
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Plot No. 13/1, Phase III, Industrial Estate, Hattar District, Haripur,
Pakistan |
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Tel # |
92 (995) 617792, 617793, +923005363332 |
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Fax # |
92 (995) 617600 |
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Email |
Short Description Of Business
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a. |
Nature of Business |
Manufacture of Steel Products |
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b. |
Year Established |
1997 |
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c. |
National Tax # |
2691480 |
Branches
In Lahore at present
Legal Status
|
Subject Company was established as a Partnership business in 1997 |
Details of Managing Partner /
Partners
|
Names |
Designation |
|
Mr. Malik Shakeel Ahmed Awan Mr. Malik Changaz Mehmood Awan |
Managing Partner Partner |
Associated Companies
(1) Mustehkam Steel Products, Pakistan.
Products
Manufacture of Steel Products, Steel
Structure, Bridge Guides, Steel & Iron, Steel Plates
Number of Employees
90
Actual
Steel Consumption
Approximately 25,000
- 50,000 Tons per annum
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2009 |
180,000,000/- (Estimated) |
Customers (Pakistan Based)
|
Mainly Traders, Dealers, Government Enterprises, Steel Manufacturing
Companies, Engineering Concerns etc |
Bankers
(1)
The Bank of Khyber, Pakistan.
(2)
Habib Bank Limited, Pakistan.
(3)
MCB Bank Limited, Pakistan.
(4)
Soneri Bank Limited,
Pakistan.
(5)
The Bank of Khyber, Pakistan.
Scenario Related To Steel
Industry In Pakistan
Steel
is a basic input for economic growth and it plays a very important role in the
industrial development of a country. Thus in many developing countries creation
of facility for indigenous steel production is rightly considered as a national
project which aims at increasing self-reliance and accelerating the process of
industrialization. Lahore, pakistan's second largest city, the market is
essentially a raw material supply source for the countrys expanding steel
industry. The boom in the steel industry is part of pakistan's overall economic
growth which is expected to touch seven per cent during the current fiscal
year. Pakistan has around 85 steel manufacturing units spread all over the
country, with around 45 in punjab which are fed by the lahore scrap market. The
country as a whole produced more than four million tonnes of steel last year,
with the demand for this year. However, according to trade policy announced
earlier this year mentioned the imports of iron and steel have been increased
by 74% and iron & steel scrap by 33.9%.
Memberships
·
Khyber Paktoonkwa Chamber of Commerce &
Industry.(KPCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 89.00 |
|
UK Pound |
1 |
Rs. 139.00 |
|
Euro |
1 |
Rs. 118.30 |
Comments
Subject Company was established in 1997 and is engaged in manufacture of
Steel Products. Overall reputation is normal. 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.52.78 |
|
|
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
RATING EXPLANATIONS
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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 |
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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 SCs 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.