MIRA INFORM REPORT

Report Date :

04.05.2011

IDENTIFICATION DETAILS

Name :	TAJ INDUSTRIES

Registered Office :	B-12/C, Estate Avenue, S.I.T.E., Karachi

Country :	Pakistan

Year of Establishment :	1990

Legal Form :	Proprietorship Concern

Line of Business :	Manufacture & Export of Knitted Garments

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Pakistan

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

Business Name

TAJ INDUSTRIES

Full Address

Registered Address

B-12/C, Estate Avenue, S.I.T.E., Karachi, Pakistan

Tel #	92 (21) 32586718, 32584435
Fax #	92 (21) 32584435

Short Description Of Business

a.	Nature of Business	Engaged in manufacture & export of Knitted Garments
b.	Year Established	1990

Branches

None

Legal Status

Subject Company was established as a Proprietorship business in 1990

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Raheel Nizami

Mr. Faisal Mahmood

Pakistani

B-12/C, Estate Avenue, S.I.T.E., Karachi

Business

Proprietor

Manager (Export)

Associated Companies

(1) Nizamia Apparels, Pakistan.

Business Activities

Subject Company is engaged in manufacture & export of Knitted Garments.

Local sales are mostly on cash / credit terms.

In case of export, payments would be accepted through L/C, D/A basis.

Its mainly export to U.S.A. and European Countries.

It’s mainly import from China, Taiwan, Indonesia & India.

Its’ major customers are Buying Agencies, Distribution Companies etc.

Subject operates from caption leased factory premises situated at industrial area of Karachi.

Subject employs about 100 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2009	80,000,000/- (Estimated)

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to China, Taiwan, Indonesia & India

Actual Production Volume

Actual production volume is indeterminable as it mainly depends upon the demand / requirement from International customers

Bankers

(1) Habib Bank Limited, Pakistan.

(2) MCB Bank Limited, Pakistan.

(3) Bank Alfalah Limited, Pakistan.

(4) Faysal Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

· Pakistan Hosiery Manufacturers & Exporters Association.(PHMEA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 84.35
UK Pound	1	Rs. 139.80
Euro	1	Rs. 124.50

Comments

Subject Company was established in 1990 and is engaged in manufacturing & export business. Overall reputation is normal. 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.44.34
UK Pound	1	Rs.73.70
Euro	1	Rs.65.75

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.