MIRA INFORM REPORT

 

 

Report Date :

29.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ENGRO POLYMER TRADING (PVT) LIMITED

 

 

Registered Office :

1st Floor, Bahria Complex-1, M.T. Khan Road, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

30.06.2010

 

 

Year of Establishment :

1999

 

 

Com. Reg. No.:

0040689

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in purchase, marketing & sell Poly Vinyl Chloride, PVC Compounds, Caustic Soda and other allied materials

 

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 :

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 – 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

 

ENGRO POLYMER TRADING (PVT) LIMITED

 

 

Full Address       

 

Registered Address

1st Floor, Bahria Complex-1, M.T. Khan Road, Karachi, Pakistan

                       

Tel #

92 (21) 111-411-411

Fax #

92 (21) 35611690

Email

arahmed@engro.com

 

 

Short Description Of Business

 

Nature of Business        

Engaged in purchase, marketing & sell Poly Vinyl Chloride, PVC Compounds, Caustic Soda and other allied materials

Year Established

1999

Registration #

0040689

 

 

Branches

           

In Islamabad & Lahore

 

 

Auditors

 

A.F. Ferguson & Co.

(Chartered Accountants)

State Life Building, 1-C, I.I. Chundrigar Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1999

 

 

Authorized Capital

Rs. 55,000,000/- divided into 5,500,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 50,000,000/- divided into 5,000,000 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Asif Qadir

 

 

 

Mr. Yoshio Shiga

 

 

 

Mr. Syed Ahsenuddin

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

1st Floor, Bahria Complex-1, M.T. Khan Road, Karachi

 

1st Floor, Bahria Complex-1, M.T. Khan Road, Karachi

 

1st Floor, Bahria Complex-1, M.T. Khan Road, Karachi

Business

 

 

 

Business

 

 

 

Business

Chief Executive

 

 

 

Director

 

 

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Engro Polymer & Chemicals Limited, Pakistan

 

Mr. Asif Qadir

 

Mr. Yoshio Shiga

 

Mr. Syed Ahsenuddin

4,999,997

 

 

1

 

1

 

1

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                            

           

B.         Associated Companies

 

(1)     Engro Corporation Limited, Pakistan.

(2)     Engro Foods Limited, Pakistan.

(3)     Engro Energy (Private) Limited, Pakistan

(4)     Engro Eximp (Private) Limited, Pakistan

(5)     Engro Management Services (Private) Limited, Pakistan

(6)     Engro Innovation Automation (Private) Limited, Pakistan

Business Activities

 

Subject Company is engaged in purchase, marketing & sell Poly Vinyl Chloride, PVC Compounds, Caustic Soda and other allied materials.

 

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

 

It sells against Cash / Credit terms to its local customers.

 

It’s mainly import from China, Taiwan & Korea.

 

Its major customers are Trading Companies, Distributors etc.

 

Subject operates from caption leased office premises of area measuring 1,500 Sq.ft. which is situated at commercial area.

 

Subject employs about 65 persons in its set up.

 

           

Annual Sales Volume

 

Years

In Pak Rupees

Quarter ended June 30, 2010

368,235,000/-

 

 

Trade Suppliers (Foreign)

 

Various international belongs to China, Taiwan & Korea

 

 

Bankers

 

(1)     Bank Al-Habib Limited, Pakistan

(2)     MCB Bank Limited, Pakistan.

(3)     Habib Bank Limited, Pakistan.

(4)     Soneri Bank Limited, Pakistan.

(5)     Faysal Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.15

UK Pound

1

           Rs. 140.60

Euro

1

           Rs. 124.10

 

 

Comments

 

Subject Company was established in 1999 and is engaged in purchase, marketing & sell Poly Vinyl Chloride, PVC Compounds, Caustic Soda and other allied materials. 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.44.12

UK Pound

1

Rs.72.05

Euro

1

Rs.63.33

 

 

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.