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MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
MATCO RICE PROCESSING (PVT) LIMITED |
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Registered Office : |
L-24-1, Block 21,
Federal ‘B’ Industrial Area, |
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Country : |
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Year of Establishment : |
1990 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing & Export of Rice |
RATING & COMMENTS
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MIRA’s 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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Maximum Credit Limit : |
US $ 30,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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b2 |
b2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Business Name
MATCO
RICE PROCESSING (PVT) LIMITED
Full Address
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Registered Address
& Mill |
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L-24-1, Block 21,
Federal ‘B’ Industrial Area, |
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Tel # |
92
(21) 36323137, 36312896, 36315584, +923018250969 |
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Fax # |
92
(21) 36338819 |
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Email |
Short Description Of Business
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a. |
Nature of Business |
Processing & Export of Rice |
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b. |
Year Established |
1990 |
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c. |
National Tax # |
0021510 |
Branches
In
Auditors
Anjum Asim Shahid Rahman
(Chartered
Accountants)
1st & 3rd
Floor, Modern Motors House,
Legal Status
Subject Company was established as a Private Limited Company in 1990
Authorized Capital |
Rs. 700,000,000/-
divided into 70,000,000 shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 466,288,500/-
divided into 46,628,850 shares of Rs. 10/- each |
Details of Management
Names
|
Designation |
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Mr. Jawed Ali Ghouri Mr. Khalid Sarfaraz Ghouri Mr. Tariq Ghouri |
Chief Executive Director Director |
Shareholders
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Names of Shareholders |
No of Shares |
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Mr. Jawed Ali Ghouri Mr. Khalid Sarfaraz Ghouri Mr. Tariq Ghouri Mrs. Naheed Jawed Mrs. Nazhat Khalid Mrs. Sadaf Tariq Mr. Faizan Ali Ghouri |
18,216,540 13,703,670 13,718,640 285,000 285,000 270,000 150,000 |
Associated Companies
(1) Matco Marketing Company,
Business Activities
Subject Company is engaged in Processing & Export of Rice.
In case of export, payment would be accepted through L/C, T.T. basis.
Local sales are mostly on cash basis.
Its mainly export to Middle East & European Countries.
Its’ major customers are Traders, Retailers,
Subject operates from caption
leased factory premises acquired more than 250,000 Sq.ft which is situated in
industrial area.
Subject employs about 320 persons in its set up.
Actual Production Capacity
Basis - 40.m.ton/hour rice processing capacity
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2009 |
750,000,000/- (Estimated) |
Customers
(Foreign)
(1) LOUIS DREYFUS OF
(2) ADM-RICE, INC of
(3) ASCOT COMMODITIES OF
(4)
(5) OVLAS TRADING SA OF
(6) HOLBUD LIMITED OF
(7) VOEST ALPINE OF
Bankers
·
Faysal Bank Limited,
·
MCB Bank Limited,
·
Habib Metropolitan Bank Limited,
·
Habib Bank Limited,
·
KASB Bank Limited,
Financial
Position
Sound
Memberships
· Rice Exporters Association of Pakistan.(REAP)
·
Federation
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 85.40 |
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|
1 |
Rs. 137.86 |
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Euro |
1 |
Rs. 116.80 |
Maximum Credit Limit
US $ 30,000
Comments
Subject Company was established in 1990 and is engaged in processing & export of Rice. Payment pattern is found to be satisfactory. Trade relations are reported as fair. Financial position of the Company is sound and has enough resources to meet the financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.