MIRA INFORM REPORT

Report Date :

12.01.2011

IDENTIFICATION DETAILS

Name :	KARACHI GRAINS (PVT) LIMITED

Registered Office :	A-501, Saima Trade Tower, I.I. Chundrigar Road, Karachi

Country :	Pakistan

Financials (as on) :	30.06.2010

Year of Establishment :	1993

Com. Reg. No.:	0029960

Legal Form :	Private Limited Company

Line of Business :	Import, Export, Buy, Distribute and market Rice, Wheat, Cereals, Pulses, Grains and other agricultural and farm produce etc

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Unknown
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

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

Business Name

KARACHI GRAINS (PVT) LIMITED

Full Address

Registered Address

A-501, Saima Trade Tower, I.I. Chundrigar Road, Karachi, Pakistan

Tel #	92 (21) 32625901 - 04 (4 Lines)
Fax #	92 (21) 32628587
Email	kgrain@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Import, Export, Buy, Distribute and market Rice, Wheat, Cereals, Pulses, Grains and other agricultural and farm produce etc
b.	Year Established	1993
c.	Registration #	0029960

Factory Location

Address	A-21, N.W.I.Z. Port Qasim Karachi, Pakistan
Tel #	92 (21) 34720198
Fax #	92 (21) 34720195

Auditors

Amir Hussain Associates

(Chartered Accountants)

Suite No. 1304, Uni Centre, I.I. Chundrigar Road, Karachi, Pakistan

Legal Status

Subject Company was incorporated as a Private Limited Company in 1993

Authorized Capital	Rs. 500,000,000/- divided into 50,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 500,000,000/- divided into 50,000,000 shares of Rs. 10/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Salim Dada

Mr. Saad Dada

Mr. Mohammad Hanif Moosa

Pakistani

A-501, Saima Trade Tower, I.I. Chundrigar Road, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Salim Dada

Mrs. Samina Dada

Mrs. Saima Dada Taba

Miss Sana Salim Dada

Mr. Saad Dada

Mr. Mohammad Hanif Moosa

Mr. Moosa H. Kassam

Mr. Ashfaq H. Hashim

Mrs. Qurat Al Ain

Mr. Fahad H. Jaffer

Mrs. Ashfaq H. Haroon

Mr. Farooq H. Moosa

Mr. M. Ashfaq H. Haroon

Ms. Sadaf Hanif

10,000,000

5,000,000

2,500,000

5,000,000

4,000,000

2,500,000

2,400,000

2,000,000

4,000,000

2,000,000

1,600,000

Associates

A. Subsidiary

None

B. Associated Companies

(1) Hyderabad Roller Flour Mills (Pvt) Limited, Pakistan.

(2) Amna Commodities (Pvt) Limited, Pakistan.

(3) Good Luck Industries Limited, Pakistan.

(4) Zarat Development (Pvt) Limited, Pakistan.

(5) Universal Terminals (Pvt) Limited, Pakistan.

(6) Hajveri Oil Extractions (Pvt) Limited, Pakistan.

(7) Multiline (Pvt) Limited, Pakistan.

Products

Import, Export, Buy, Distribute and market Rice, Wheat, Cereals, Pulses, Grains and other agricultural and farm produce etc

Number of Employees

300

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture

Annual Sales Volume

Year	In Pak Rupees
2010	3,074,121,040/-

Agencies

(Foreign)

Various international

Customers

Mainly Government Corporations, Buying Agencies, Trading Companies etc

Exporting Countries

Mainly to U.A.E., African & Gulf Countries

Bankers

(1) Habib Metropolitan Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

(4) United Bank Limited, Pakistan.

(5) Soneri Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.60
UK Pound	1	Rs. 132.06
Euro	1	Rs. 111.07

Comments

Subject Company was established in 1993 and is engaged in import, xxport, buy, distribute and market Rice, Wheat, Cereals, Pulses, Grains and other agricultural and farm produce etc. Market reputation is good. 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.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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.