MIRA INFORM REPORT

Report Date :

19.01.2011

IDENTIFICATION DETAILS

Name :	ATIQUE (PVT) LIMITED

Registered Office :	46/3, Delhi Cooperative Housing Society, Karachi

Country :	Pakistan

Year of Establishment :	1984

Com. Reg. No.:	0011742

Legal Form :	Private Limited Company

Line of Business :	Import & Trading of Woolen Carpets

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	US $ 10,000
Status :	Moderate
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

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

Business Name

ATIQUE (PVT) LIMITED

Full Address

Registered Address

46/3, Delhi Cooperative Housing Society, Karachi, Pakistan

Tel #	92 (21) 34527262, 34549917
Fax #	92 (21) 34549917

Short Description Of Business

a.	Nature of Business	Import & Trading of Woolen Carpets
b.	Year Established	1984
c.	Registration #	0011742

Auditors

Hashmi & Company

(Chartered Accountants)

Office No. 212, 2^nd Floor, R.S.M. Square, E-1, C.C. Area, Block 7/8, Shaheed-e-Millat Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1984

Authorized Capital	Rs. 2,500,000/- divided into 25,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 800,000 divided into Rs. 8,000 shares of Rs. 100/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Occupation

Designation

Mr. Imran Atique

Mr. Zubair Atique

Mr. Jawed Atique

Mr. Faisal Atique

Pakistani

46/3, Delhi Cooperative Housing Society, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Imran Atique

Mr. Zubair Atique

Mr. Jawed Atique

Mr. Faisal Atique

2,000

Associated Companies

· Venus Carpet (Pvt) Limited, Pakistan.

· Carpet Inn, Pakistan.

Business Activities

Subject Company is engaged in the business as import & trading of Woolen Carpets.

It sells against Cash / Credit terms.

It purchases raw material against L/C, D/A, D/P basis.

Its importing countries are China, Thailand, Iran, Taiwan & Bangladesh

Subject operates from caption leased office premises of area measuring 400 Sq.Yards which is situated in commercial area.

Subject employs about 12 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2009	55,000,000/- (Estimated)

Customers

Mainly Individuals, Private Companies etc

Bankers

(1) MCB Bank Limited, Pakistan

(2) Soneri Bank Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 86.00
UK Pound	1	Rs. 135.74
Euro	1	Rs. 113.81

Memberships

· Karachi Chamber of Commerce & Industry. (KCCI)

Credit limit

Subject Maximum Credit Limit is US $ 10,000

Comments

Subject Company was established in 1984 and is engaged in import & trading of Woolen Carpets. Chief Executive as well as directors of the Company is reported as resourceful and experienced businessmen. 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.45.53
UK Pound	1	Rs.72.56
Euro	1	Rs.60.62

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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