MIRA INFORM REPORT

Report Date :

31.01.2011

IDENTIFICATION DETAILS

Name :	MASTER PAINT INDUSTRIES (PVT) LIMITED

Registered Office :	First Floor, LDA Plaza, Egerton Road, Lahore

Country :	Pakistan

Year of Establishment :	1994

Com. Reg. No.:	0032897

Legal Form :	Private Limited Company

Line of Business :	Manufacturing & marketing of superb quality decorative paints

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 :	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

MASTER PAINT INDUSTRIES (PVT) LIMITED

Full Address

Registered Address

First Floor, LDA Plaza, Egerton Road, Lahore, Pakistan

Tel #	92 (42) 36307256, 36307257, 36307258, 36307259
Fax #	92 (42) 36307253

Short Description Of Business

a.	Nature of Business	Engaged in manufacturing & marketing of superb quality decorative paints
b.	Year Established	1994
c.	Registration #	0032897

Branches

In Karachi at present

Auditors

M/s. Saleem Ahsan & Co.

(Chartered Accountants)

8, Syed Mouj Darya Road, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1994

Authorised Capital	Rs. 100,000,000/- divided into 1,000,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 25,000,000/- divided into 250,000 shares of Rs. 100/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Occupation

Designation

Mr. Sufi Muhammad Aslam

Mr. Sufi Muhammad Shafi

Mr. Sufi Muhammad Harris

Mr. Sufi Muhammad Amir

Mr. Sufi M. Farrukh Amin

Mr. Farooq Amin Sufi

Pakistani

First Floor, LDA Plaza, Egerton Road, Lahore

Business

Chief Executive

Director

Shareholders

Name

No of Shares

Mr. Sufi Muhammad Aslam

Mr. Sufi M. Amin

Mr. Sufi Muhammad Harris

Mr. Sufi Muhammad Amir

Mr. Sufi M. Farrukh Amin

Mr. Farooq Amin Sufi

75,000

25,000

Associated Companies

None

Business Activities

Engaged in manufacturing & marketing of superb quality decorative paints

Number of Employees

160

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to Europe, China, Taiwan, Malaysia, U.A.E.

Annual Sales Volume

Year	In Pak Rupees
2009	200,000,000/- (Estimated)

Distributors Network

Mainly exist at all major cities of Pakistan

Bankers

· Saudi Pak Commercial Bank Limited, Pakistan.

· Askari Bank Limited, Pakistan.

· Habib Bank Limited, Pakistan.

· United Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 86.00
UK Pound	1	Rs. 136.38
Euro	1	Rs. 116.81

Comments

Subject Company was established in 1994 and is engaged in manufacturing & marketing of superb quality decorative paints. Directors of the Company are reported as qualified, experienced and resourceful businessmen. Payments are usually correct and as per commitments. 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.45.74
UK Pound	1	Rs.72.73
Euro	1	Rs.62.73

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

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.