MIRA INFORM REPORT

 

 

Report Date :

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND TYRES LIMITED

 

 

Registered Office :

167-C, Model Town, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1995

 

 

Com. Reg. No.:

0048477

 

 

Legal Form :

Non-Listed Public Limited Company

 

 

Line of Business :

Engaged in the manufacture and sale of tyres and tubes of cycle, motor cycle, trollies & wheel barrows

 

 

No. of Employees :

158

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

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

 

DIAMOND TYRES LIMITED

 

 

Full Address       

 

Registered Address

167-C, Model Town, Lahore, Pakistan

                       

Tel #

92 (42) 111-555-246, 35911553, 35911554, 35911522

Fax #

92 (42) 35911523

Email

diamond@cyberaccess.com.pk

 

 

Short Description Of Business

 

Nature of Business        

Engaged in the manufacture and sale of tyres and tubes of cycle, motor cycle, trollies & wheel barrows

Year Established

1995

Registration #

0048477

 

 

Branches

           

Address

807, 8th Floor, Al-Rahim Towers, I.I. Chundrigar Road, Karachi, Pakistan

Tel #

92 (21) 32422675, 32400741

Fax #

92 (21) 32422669

 

 

Factories Location

 

            (1) 3 K.M., Manga Raiwind Road, Lahore, Pakistan.

 

(2) S-45, Mauripur Road, S.I.T.E, Gulbai, Karachi, Pakistan.

 

Auditors

 

Akhtar Mahmood Mian

(Chartered Accountants)

Flat # 2, 5th Floor, Sharjah Centre, 62-Shadman, Lahore, Pakistan

Legal Status

 

Subject Company was established as a Non-Listed Public Limited Company in 1995

 

Authorized Capital

Rs. 375,000,000/- divided into 37,500,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 400,000/- divided into 40,000 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Designation

Mr. Mudassar Iftikhar

 

Mr. Muhammad Shaukat Saleem

 

Mr. Rafqat Iqbal

 

Mr. Muhammad Yaqoob Sheikh

 

Mr. Muhammad Ayub Sheikh

 

Mrs. Kausar Ayub

 

Mrs. Humaira Ayub

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Muhammad Yaqoob Sheikh

 

Mr. Muhammad Ayub Sheikh

 

Mrs. Kausar Ayub

 

Mrs. Humaira Ayub

10,000

 

10,000

 

10,000

 

10,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                            

           

B.         Associated Companies

 

(1)     Al-Yousuf Spinning and Weaving Mills Ltd, Pakistan.

(2)     Bilal Rubber and Plastic Works Pvt Ltd, Pakistan.

(3)     Citifoam Industries Pvt Ltd, Pakistan.

(4)     Capital Industrial Enterprises Pvt Ltd, Pakistan.

(5)     Diamond Rubber Mills (Pvt) Limited, Pakistan.

(6)     Diamond Polymers Pvt Limited, Pakistan.

(7)     Diamond Industries Ltd, Pakistan.

(8)     Diamond Chemicals Industries Pvt Ltd, Pakistan.

(9)     Diamond Plasticizers Pvt Ltd, Pakistan.

(10) Diamond Industrial Corporation Pvt Ltd, Pakistan.

(11) Imperial Footwear Pvt Ltd, Pakistan.

(12) National Caps Pvt Ltd, Pakistan.

(13) Sarhad (Gadoon) Wire and Cable Industries Pvt Ltd, Pakistan.

(14) Shaffi Chemicals Industries Ltd, Pakistan.

(15) Diplas Management Pvt Ltd, Pakistan.

(16) Diamond Pesticides Pvt Ltd, Pakistan.

(17) Diamond Goods Corporation Pvt Ltd, Pakistan.

 

 

Products

 

Engaged in the manufacture and sale of tyres and tubes of cycle, motor cycle, trollies & wheel barrows

 

Number of Employees

 

158

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

280,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

Mainly from European Countries & U.S.A.

 

 

Capacity & Production

           

Actual production volume is indeterminable as it mainly depends on the requirement from their local customers

 

Customers

 

(1) ATLAS HONDA LIMITED, PAKISTAN.

(2) DAWOOD YAMAHA MOTORCYCLES, PAKISTAN.

(3) SUZUKI MOTORCYCLES LIMITED, PAKISTAN.

(4) DEWAN AUTOMOTIVE MANUFACTURING LIMITED, PAKISTAN.

(5) SOHRAB MOTORCYCLES, PAKISTAN.

 

 

Bankers

 

(1)     Faysal Bank Limited, Pakistan.

(2)     Standard Chartered Bank, Pakistan.

(3)     Habib Metropolitan Bank Limited, Pakistan.

(4)     United Bank Limited, Pakistan.

(5)     Bank Alfalah Limited, Pakistan.

(6)     KASB Bank Limited, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

·         Federation Pakistan Chamber of Commerce & Industry.(FPCCI)

 

 

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 is a well-established company having satisfactory track. Directors are reported as qualified, experienced and resourceful 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.52.72

UK Pound

1

Rs.82.70

Euro

1

Rs.68.90

 

 

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.