MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	SHAPES PHYSIQUE EQUIPMENT (PRIVATE) LIMITED

Registered Office :	50-E-1, Gulberg III, Lahore

Country :	Pakistan

Year of Establishment :	2001

Com. Reg. No.:	0042104

Legal Form :	Private Limited Company

Line of Business :	Import & Trading of Fitness Equipments & Accessories

RATING & COMMENTS

MIRA’s Rating :

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 – 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

Bottom of Form

Business Name

SHAPES PHYSIQUE EQUIPMENT (PRIVATE) LIMITED

Full Address

Registered Address

50-E-1, Gulberg III, Lahore, Pakistan

Tel #	92 (42) 111-742-737, 35712205, 35752205
Fax #	92 (42) 35752205

Short Description Of Business

a.	Nature of Business	Import & Trading of Fitness Equipments & Accessories
b.	Year Established	2001
c.	Registration #	0042104

Branches

In Lahore & Karachi

Auditors

Salaria & Co.

(Chartered Accountants)

F-14 & 15, Fatima Center, Shahrah-e-Fatima Jinnah, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2001

Authorized Capital	Rs. 5,000,000/- divided into 500,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 2,000,000/- divided into 200,000 shares of Rs. 10/- each

Details of Directors

Names

Address

Occupation

Designation

Mr. Khawaja Nadeem Ahmed

Mrs. Shazia Ahmed

Mr. Micheal John Medeley

50-E-1, Gulberg III, Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Khawaja Nadeem Ahmed

Mrs. Shazia Ahmed

Mr. Micheal John Medeley

Mr. Muhammad Umer Farooq

100,000

99,980

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

Subject Company is engaged in import & trading of Fitness Equipments & Accessories.

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

It sells against cash term basis.

It’s mainly import from Korea, European Countries, Taiwan, China, Singapore, Japan, Thailand & U.S.A.

Its’ major customers are Private Companies, Individuals, Others.

Subject operates from caption leased shop premises of area measuring 1,200 Sq ft. which is situated at residential + commercial area of Lahore.

Subject employs about 18 persons in its set up.

Annual Sales Volume

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

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to Korea, European Countries, Taiwan, China, Singapore, Japan, Thailand & U.S.A.

Bankers

· Habib Bank Limited, Pakistan.

· Faysal Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Royal Bank of Scotland, Pakistan.

· Standard Chartered Bank, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.25
UK Pound	1	Rs. 137.30
Euro	1	Rs. 120.30

Comments

Subject Company was established in 2001 and is engaged in import & trading business. Directors are reported as 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.45.07
UK Pound	1	Rs.63.57
Euro	1	Rs.72.97

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.