MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

HASHOO INTERNATIONAL (PRIVATE) LIMITED

 

 

Registered Office :

1st Floor, Cotton Exchange Building, I.I. Chundrigar Road, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

30.06.2008

 

 

Year of Establishment :

1987

 

 

Com. Reg. No.:

0015855

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

import and export of various commodities dealing in export of Rice, gram, Castor Seed, etc. & import of Pulses, Milk Powder, Gum Rosin etc and is also engaged in local trading of related commodities

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

HASHOO INTERNATIONAL (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address

1st Floor, Cotton Exchange Building, I.I. Chundrigar Road, Karachi, Pakistan

                       

Tel #

92 (21) 32417502, 32415467

Fax #

92 (21) 32416844

Email

hashoo@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business           

Primarily engaged in import and export of various commodities dealing in export of Rice, gram, Castor Seed, etc. & import of Pulses, Milk Powder, Gum Rosin etc and is also engaged in local trading of related commodities

b.

Year Established

1987

c.

Registration #

0015855

 

 

Branches

 

 In Islamabad & Lahore            

 

 

Auditors

 

Daudally Lalani & Co.

(Chartered Accountants)

Room # 507, 5th Floor, Panorama Centre, Raja Ghazanfar Ali Road, Karachi, Pakistan.

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1987

 

 

 

Authorised Capital           

Rs. 20,000,000/- divided into 2,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 20,000,000/- divided into 2,000,000 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Farhad Mistry

 

 

 

Mr. Sadruddin Hashwani

 

 

Mr. Shamsuddin Ibrahim

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

A-3, Pearl Haven, Block-5, Clifton, Karachi

 

House # 1, St # 62, Sector F-6/3, Islamabad

 

F-30/3, Block-7, Kehkashan, Clifton, Karachi

Trading Business

 

 

Trading Business

 

 

Trading Business

Chief Executive

 

 

Director

 

 

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Sadruddin Hashwani

 

Mr. Shamsuddin Ibrahim

 

Mr. Farhad Mistry

 

Hashoo Holdings (Pvt) Limited

 

Hashoo (Pvt) Limited

 

Hashwani Sales & Services (Pvt) Limited

916,000

 

500

 

500

 

976,000

 

52,000

 

55,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                                                            None                                                 

           


 

B.         Associated Companies

 

(1)     Pearl Continental Hotel, Karachi.

(2)     Pearl Continental Hotel, Lahore.

(3)     Pearl Continental Hotel, Rawalpindi.

(4)     Pearl Continental Hotel, Peshawar.

(5)     Pearl Continental Hotel, Bhurban.

(6)     Karachi Marriot Hotel, Karachi.

(7)     Islamabad Marriot Hotel, Islamabad.

(8)     Orient Petroleum, Pakistan.

(9)     Zaver Petroleum Corporation Limited, Pakistan.

(10) Zaver Chemical, Pakistan.

(11) Zaver Mining Company, Pakistan.

(12) Pearls Tours & Travels (Pvt) Limited, Pakistan.

(13) Trans-Air Travels (Pvt) Limited, Pakistan.

(14) Hasan Ali & Company (Pvt) Limited, Pakistan.

(15) Genesis Trading (Pvt) Limited, Pakistan.

(16) Net-21 (Pvt) Limited, Pakistan.

(17) Gelcaps Pakistan Limited, Pakistan.

(18) Hashoo Private Limited, Pakistan.

(19) Associated Builders (Pvt) Limited, Pakistan.

(20) Murtaza Construction Company (Pvt) Limited, Pakistan.

(21) Cera-e-Noor, Pakistan.

(22) Hashwani Sales & Service (Pvt) Limited, Pakistan.

(23) Hashoo Holdings (Private) Limited, Pakistan.

 

 

Business Activities

 

Primarily engaged in import and export of various commodities dealing in export of Rice, gram, Castor Seed, etc. & import of Pulses, Milk Powder, Gum Rosin etc. and is also engaged in local trading of related commodities.

 

 

Number of Employees

 

82

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2008

554,360,018/-

 

 

 

Trade Suppliers

(Foreign)

 

Various International                

 

 

Customers

 

Mainly Food Companies, Trading Companies, Indenters etc

 

 

Bankers

 

(1) Soneri Bank Limited, Pakistan.

(2) Faysal Bank Limited, Pakistan.

(3) Bank Alhabib Limited, Pakistan.

(4) Habib Metropolitan Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

           

Currency

 

Unit

Pakistani Rupees

US Dollar

1

           Rs. 85.75

UK Pound

1

           Rs. 132.99  

Euro

1

           Rs. 111.03

 

 

Financial Position

 

Very Sound           

 

 

Comments

 

Hashoo Group of Companies enjoys excellent credibility in the Pakistani Business Circle. The Subject Group is engaged in diversified activities, which include Pharmaceutical, Power Generation, Hotels, Chemical, Mining, Construction & Information Technology etc. The group is well known and directors are resourceful and experienced businessmen. The subject company can be considered good for normal business dealings at usual trade terms and conditions.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.32

UK Pound

1

Rs.70.54

Euro

1

Rs.58.70

 

 

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.