MIRA INFORM REPORT

 

 

Report Date :

15.07.2011

 

IDENTIFICATION DETAILS

 

Name :

HIKMAT LIMITED

 

 

Registered Office :

G B Plaza Office, No.28/C, Industrial Area, Jamrud Road, Peshawar

 

 

Country :

Pakistan

 

 

Year of Establishment :

1994

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import & Trading of Tea

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

 

HIKMAT LIMITED

 

 

Full Address       

           

Address

G B Plaza Office, No.28/C, Industrial Area, Jamrud Road, Peshawar, Pakistan

Tel #

92 (91) 5817909, 5816873

Fax #

92 (91) 5816873

Email

hikmatltd@brain.net.pk,

hikmatltd@netzone.net.pk

 

 

Short Description Of Business

 

Nature of Business           

Import & Trading of Tea

Year Established

1994

 

 

Overseas Branches

 

Mandwai Jadeed, 2nd Floor, Musken Yar

& Hameed Market, Sarai Gur Farooshi

Office # 17, Kabul, Afghanistan.

 

 

Legal Status

 

Subject was established as a Limited Company in 1994 and is registered in Afghanistan.

 

 

Details of Chief Executive

 

Names

Nationality

Address

Occupation

Designation

Mr. Said Rehman

Afghani

Mandwai Jadeed, 2nd Floor, Musken Yar & Hameed Market, Sarai Gur Farooshi Office # 17, Kabul, Afghanistan

Trader

Chief Executive

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                                 

           

B.         Associated Companies

 

            - Do -   

 

 

Import of

 

Engaged in import & trading of Tea

 

 

Number of Employees

 

6

 

 

Annual Sales Volume (Last 3 Years)

 

Years

In Pak Rupees

2009

40,000,000/- (Estimated)

 

 

Importing Countries

 

Mainly from India, Bangladesh, African Countries & Vietnam

 

 

Customers

 

Mainly Trading Companies, Private Companies operating in Afghanistan and Pakistan

 

 

Bankers

 

(1)     Standard Chartered Bank Limited, Pakistan.

(2)     The Bank of Khyber, Pakistan.

(3)     MCB Bank Limited, Pakistan.

(4)     Bank Alfalah Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 85.95

UK Pound

1

           Rs. 137.70

Euro

1

           Rs. 120.50

 

Comments

 

The Subject Company was incorporated in Afghanistan as a Limited Company. The Chief Executive of the subject company is afghan national. The information has been extracted from indirect sources other than the Company. As per our observation the company is not very active in Pakistan business circle. Therefore we do not recommend conducting any business activity with the subject company.

  

           

.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.53

UK Pound

1

Rs.71.80

Euro

1

Rs.63.15

 

 

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.